Why opening a bank account here might seem to take a little time for a US citizen

[johne]

Frequent discussions on this topic led me to read this agreement when I first decided to live in the DR and had zero luck on my first try at opening an account.It's a worthwhile read and may lessen your anger toward the the person at the bank that showed you the door. Knowledge is power:

https://home.treasury.gov/system/files/131/FATCA-Agreement-DominicanRepublic-9-15-2016.pdf

See especially Article 2

 

[SKY]

Many European Countries will NOT open an account for ANYONE with a US Passport...........

 

[windeguy]

The Shocking Reason for FATCA… and What Comes Next

Welcome to the new feudalism.

internationalman.com

 

[CristoRey]

Many European Countries will NOT open an account for ANYONE with a US Passport...........

Indeed.
One of the few disadvantages of being a US Passport holder. We've become to controlling with all of our regulations.

 

[william webster]

My asset manager will not accept US residents........ too much oversight, as you say

 

[chico bill]

My asset manager will not accept US residents........ too much oversight, as you say

The US government has become the enemy of its own people

 

[johne]

The US government has become the enemy of its own people

Well, the department of IRS was my" enemy " since I came out of my mother's womb. Nothing new there. Now I can add the banks in the DR.

 

[SKY]

The US government has become the enemy of its own people

Some think slavery ended with the Civil War, it just expanded to all races............

 

[keepcoming]

Posts must be DR related/topic related...

 

[keepcoming]

Please keep your posts DR related as it pertains to the topic.

 

[bachata]

The funny thing is that I am Dominican and because I have US citizenship they treated me the same way if I was a national American. I try to open a bank account in 2019 and I was denied because I live in the US and didn't have with me all requirements, employment verification letter, W2, two years income tax etc...

Crazy 😧

JJ

 

[william webster]

Not crazy....US residents are equal to citizens in all ways except the vote

I had a Green Card and turned it in for that reason..........

 

[Gadfly]

US citizens might have to jump thru even more hoops to open a bank acct in the Dominican Republic if the US defaults on its debt limit that’s currently in negotiations. The US credit rating would drop, etc