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Subject:  Re: Renouncing citizenship for tax purposes Date:  8/22/2013  5:28 PM
Author:  RHinCT Number:  119058 of 127616

The one thing in the article that evoked some sympathy from me is the growing reluctance of foreign financial institutions to do business with US citizens. It's especially bothersome for the poor, beleaguered Swiss banks, which have long prided themselves on being a safe place for war criminals, despots who have looted their homelands, and perpetrators of genocide to hide their assets.

I heard from one US citizen living in Switzerland that his bank closed his account and that he found it impossible to open another one. Its kind of hard to live without a bank account. Last I heard he was renouncing his citizenship, and he said a great many of his friends were doing likewise. And of course the embassy was putting them through hell to do so.
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