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Citywire Asia: Smaller wealth managers could lose Fatca participatory status.

Citywire Asia recently wrote an article on the FATCA agreement renewal deadline, and quoted comments made by Allan Wilkinson, Director at Buzzacott, following an interview.

About the author

Allan Wilkinson

+852 3752 8871
wilkinsona@Buzzacott.hk
  • Wilkinson said, “The big institutions are and they are doing their best to be compliant from what I can see. But with many of the smaller financial institutions might not fully be aware of what their responsibilities are.”
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  • Wilkinson also noted, “Even though FATCA has been around since 2014, some financial institutions are only beginning to realise now what the full extent of their responsibilities are.
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  • Commenting on what constitutes US citizenship, Wilkinson said, “It’s difficult to determine how many Americans there are because you can be an American just by having been born in the US, or having a Green Card or being a resident there. There are some Americans in this region who don’t even know that they’re American.”
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  • Wilkinson added, “The big financial institutions are probably fine but maybe for the smaller ones the administrative burden is too much really. So yes, some financial institutions will be a bit shy to take on US clients because of these rules.”
  • To download the full article, please click on the 'Download PDF' button on the right of the screen.
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  • Article first seen in the Citywire Asia
You might also be interested in… Expatriate tax. | 英美海外居民個人所得稅業務

We know how both systems work from the inside, out. Talk to us about how best to manage your income, reduce liability and pay the correct local tax. We’ve had the pleasure of supporting many internationally mobile workers through pivotal stages in their lives from our London office. Buzzacott’s Hong Kong team looks after US and UK nationals living across Southeast Asia.

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We work hand-in-hand with our Global Mobility team who can advise you on managing an international workforce. And you’re welcome to share your queries with Buzzacott’s other specialists, from HR to financial planning. Thanks to our membership of the PrimeGlobal international association, we can also connect you with trusted experts worldwide who deliver the same quality of service you expect from us.

如果您是生活在海外的英國或美國公民,在對您來說可能陌生的生活環境裡,讓我們來成為您的貼身稅務顧問,協助您處理英國或美國相關的各類稅務事項。

我們清楚了解英、美兩地的稅制。這當中包括如何妥善管理個人收入,減少稅務和繳交正確的稅額。我們倫敦辦事處擁有豐富的經驗,為海外工作者 在人生不同的階段,提供適合他們的支援。 Buzzacott的香港團隊 (link to HK SITE) 負責維顧生活在東南亞的美國和英國國民。

 

英國稅務諮詢

•為於英國居住的美國公民填寫美國稅務申報表

•為於英國有收入來源的非英國居民填寫英國稅務申報表

•提供關於英國合法居留規則的英國稅務諮詢

•出發前或到達前的計劃,包括工作安排

•遺產稅諮詢

 

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•稅務諮詢:外國稅收豁免優化、減免、節省稅額、投資和退休諮詢

美國聯邦和州的所得稅申報(為居於英國的美國公民的公司,合夥業務,信託和非美國養老金申報)

•外國銀行賬戶報告

•美國遺產稅和贈與稅申報

•往年的申報(包括合理原因的聲明)

 

我們與全球流動團隊 攜手合作,為您提供管理國際勞動力的諮詢。不論人力資源  或財務策劃  的問題,都歡迎您與Buzzacott的專家聯絡。而作為  國際協會的會員,我們還可以為您提供全球值得信賴的專家,提供與您期望一致的服務質素。