Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 30.07.2021, 09:07
Forum Veteran
 
Join Date: May 2021
Location: Vaud
Posts: 862
Groaned at 163 Times in 111 Posts
Thanked 1,376 Times in 572 Posts
MattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond repute
US/Irish Dual Citizen Bank question - includes UN fun as well!

On another thread someone mentioned that Swiss banks won't take US citizens.

Here's my situation:
I'm a US/Irish dual citizen. I will be living in Geneva with an Irish passport, although I also have a US one.
I am not the earner. I'm a stay at home dad.
My wife is a Japanese national, who is a UN employee, she is our earner.

Will we have trouble opening a bank account, especially if I'm on the joint account?

If this has been answered elsewhere, please point me in the right direction.
Reply With Quote
  #2  
Old 30.07.2021, 09:12
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Switzerland
Posts: 22,947
Groaned at 449 Times in 346 Posts
Thanked 18,087 Times in 10,093 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Answered in your other thread.

https://www.englishforum.ch/educatio...questions.html
Reply With Quote
The following 2 users would like to thank Medea Fleecestealer for this useful post:
  #3  
Old 30.07.2021, 09:19
Forum Veteran
 
Join Date: May 2021
Location: Vaud
Posts: 862
Groaned at 163 Times in 111 Posts
Thanked 1,376 Times in 572 Posts
MattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Yes, trying to keep banking in the banking and school at school! Thanks!
Reply With Quote
  #4  
Old 30.07.2021, 10:12
John_H
 
Posts: n/a
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Quote:
View Post
Yes, trying to keep banking in the banking and school at school! Thanks!
The FATCA questionnaire is pretty clear..

Do you have a US Passport, are you a US person of any sort..Are you connected to a US person. Includes living there for x length of time, property there, dependants there. Basically any connection to US raises the flag for the banks.
This will include you wife since she is connected to a US person.

Many banks will simply refuse to open an account.. Others will open it with conditions. It's not impossible but just limits the choice.
Reply With Quote
The following 2 users would like to thank for this useful post:
  #5  
Old 30.07.2021, 10:22
Forum Veteran
 
Join Date: Jul 2014
Location: lugano
Posts: 927
Groaned at 160 Times in 81 Posts
Thanked 861 Times in 463 Posts
DL21 has earned the respect of manyDL21 has earned the respect of manyDL21 has earned the respect of many
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

UBS and CS both have no problem with FACTA and both are perfectly acceptable banks. non issue. let's move on.
Reply With Quote
This user groans at DL21 for this post:
  #6  
Old 30.07.2021, 10:28
Forum Legend
 
Join Date: Oct 2014
Location: Nyon
Posts: 6,942
Groaned at 408 Times in 301 Posts
Thanked 9,624 Times in 4,503 Posts
bowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

As your wife is a diplomat, her salary could be exempt from Swiss Communal, Cantonal and Federal taxes. I would suggest asking her HR department for advice on taxation by the US.

You might want to consider a divorce and living together.
Reply With Quote
The following 3 users would like to thank bowlie for this useful post:
  #7  
Old 30.07.2021, 10:32
Forum Legend
 
Join Date: Oct 2014
Location: Nyon
Posts: 6,942
Groaned at 408 Times in 301 Posts
Thanked 9,624 Times in 4,503 Posts
bowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Quote:
View Post
UBS and CS both have no problem with FACTA and both are perfectly acceptable banks. non issue. let's move on.
The people we bought a property from were both US citizens and they banked with the UBS in Nyon. Around the time of FATCA the UBS 'transferred' their accounts (and mortgage) to the Lausanne office 'to better serve them'. They had no choice.
Reply With Quote
The following 2 users would like to thank bowlie for this useful post:
  #8  
Old 30.07.2021, 11:17
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Switzerland
Posts: 22,947
Groaned at 449 Times in 346 Posts
Thanked 18,087 Times in 10,093 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Quote:
View Post
The people we bought a property from were both US citizens and they banked with the UBS in Nyon. Around the time of FATCA the UBS 'transferred' their accounts (and mortgage) to the Lausanne office 'to better serve them'. They had no choice.
As far as I know UBS has special department/s handling US related accounts. When I was a US citizen our account was transferred to a special department in Zurich I think it was that was handling the American accounts. Once I renounced and was able to send them a copy of my Loss of Citizenship certificate our account went back to our usual branch.
Reply With Quote
This user would like to thank Medea Fleecestealer for this useful post:
  #9  
Old 30.07.2021, 11:21
Forum Veteran
 
Join Date: Jul 2014
Location: lugano
Posts: 927
Groaned at 160 Times in 81 Posts
Thanked 861 Times in 463 Posts
DL21 has earned the respect of manyDL21 has earned the respect of manyDL21 has earned the respect of many
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

mine was always held locally up until I became non US.
Reply With Quote
  #10  
Old 30.07.2021, 14:16
Member
 
Join Date: Apr 2018
Location: Zentralschweiz
Posts: 129
Groaned at 46 Times in 19 Posts
Thanked 246 Times in 79 Posts
wachtwoord has a reputation beyond reputewachtwoord has a reputation beyond reputewachtwoord has a reputation beyond reputewachtwoord has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Quote:
View Post
As your wife is a diplomat, her salary could be exempt from Swiss Communal, Cantonal and Federal taxes. I would suggest asking her HR department for advice on taxation by the US.

You might want to consider a divorce and living together.
Get rid of the US passport asap. Gets more expensive every year ...
Reply With Quote
The following 3 users would like to thank wachtwoord for this useful post:
  #11  
Old 30.07.2021, 14:59
Forum Veteran
 
Join Date: May 2021
Location: Vaud
Posts: 862
Groaned at 163 Times in 111 Posts
Thanked 1,376 Times in 572 Posts
MattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

No chance of divorcing my wife. (I hope that wasn't serious.) We will be checking with the UN office as we do have some different tax status. Thanks to everyone.
Reply With Quote
  #12  
Old 30.07.2021, 18:30
Senior Member
 
Join Date: Apr 2015
Location: Port-Valais (was SFO)
Posts: 448
Groaned at 5 Times in 3 Posts
Thanked 327 Times in 182 Posts
Caryl has a reputation beyond reputeCaryl has a reputation beyond reputeCaryl has a reputation beyond reputeCaryl has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

When I was part of the U.S. Mission to GATT (now the WTO) and accredited to the UN, the Mission arranged for the bank accounts and rental deposits of its staff. That was before FATCA but this should make no difference. While it seems your spouse is an international civil servant and not a diplomat, there undoubtedly are arrangements that bypass the grief UBS gives to US citizens. (At the time, in the early 1990s, the Mission's banking was with SBS.)

In any event, PostFinance offers current accounts to American residents and you might find that satisfactory. It works for me. Note that i have Swiss and US nationality.

Yes, the account is reportable on annual FBARs if your total bank and investment accounts abroad total $10,000 at any point in the year.
Reply With Quote
The following 2 users would like to thank Caryl for this useful post:
  #13  
Old 30.07.2021, 19:03
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Switzerland
Posts: 22,947
Groaned at 449 Times in 346 Posts
Thanked 18,087 Times in 10,093 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Let's be clear - it's not UBS giving grief to US citizens; it's the US government and it's FATCA law. All banks around the world have to check with anyone opening a bank account whether they have any connection to the US; it's a requirement under the FATCA law. Many banks decided it wasn't worth the hassle and expense to set up systems to comply with FATCA reporting so they dropped their US clients instead.
Reply With Quote
The following 7 users would like to thank Medea Fleecestealer for this useful post:
  #14  
Old 30.07.2021, 19:32
Forum Legend
 
Join Date: Oct 2014
Location: Nyon
Posts: 6,942
Groaned at 408 Times in 301 Posts
Thanked 9,624 Times in 4,503 Posts
bowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond reputebowlie has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Iíve been with UBS for 30+ years ( actually uBSó>SBSó>UBS), but Iím not a US national.
Reply With Quote
This user would like to thank bowlie for this useful post:
  #15  
Old 30.07.2021, 19:49
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 32,721
Groaned at 2,627 Times in 1,869 Posts
Thanked 39,826 Times in 18,785 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Quote:
View Post
I’ve been with UBS for 30+ years ( actually uBS—>SBS—>UBS), but I’m not a US national.
I was when I opened my account there in '86, BUT when we went to get a mortgage in 2014, they had my down as NOT born in the US and NOT a US citizen, despite the fact that I had used my US passport to open the account!

They were quite pleased to make a copy of my CLN and to correct their records!

Tom
Reply With Quote
The following 2 users would like to thank st2lemans for this useful post:
  #16  
Old 31.07.2021, 17:17
Forum Veteran
 
Join Date: May 2021
Location: Vaud
Posts: 862
Groaned at 163 Times in 111 Posts
Thanked 1,376 Times in 572 Posts
MattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond reputeMattyRedSox has a reputation beyond repute
Re: US/Irish Dual Citizen Bank question - includes UN fun as well!

Thanks everyone.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Applying for Irish dual-citizenship [British] ? dan2k3k4 Permits/visas/government 45 05.07.2016 17:59
I need a bank account (UK / USA dual citizen) musicmanbrain Finance/banking/taxation 8 07.06.2013 13:54
Tax Question - Irish citizen gco Finance/banking/taxation 3 07.06.2011 00:03
Dual Citizen and Employment BKinTheHouse Employment 36 21.05.2011 00:51
Dual Citizen - one EU, one not. Use which? chris lane Permits/visas/government 11 19.02.2007 03:19


All times are GMT +2. The time now is 17:21.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0