Coutts to continue to serve U.S. citizens eager to keep assets abroad
As Asian banks are increasingly unwilling to welcome U.S. clients, Coutts of London is preparing to understand imminent rules intended to prune tax avoidance options. Coutts, the wealth division of U.K. government-owned Royal Bank of Scotland Group Plc, plans to comply with Fatca. The London-based bank has invested since July 2010 in a "global programme of work" established to support the implementation of the Fatca provisions.
Renouncing citizenship is an option chosen by increasing numbers of Americans to sustain their recent earnings potential. A record 1,780 gave up their U.S. passports last year, compared with 235 in 2008, the IRS reported.
Greedy fcukers, just pay what you owe like the rest of us.
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