Tag: stiftung
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Criminal sanctions may apply to an offshore escrow account
Beware of FATCA! It has recently come to our attention that some people have mistakenly been recommended to use an Escrow Account for privacy of overseas financial transactions. Criminal sanctions would apply to any U.S. Person use of an Escrow Account for the purpose of secrecy. Any U.S. Person participation, interest, legal right, beneficial ownership,…