[quote=UCGal]There are significant new reporting requirements for having bank accounts overseas. I frequent a few expat forums and the reporting requirements are challenging.
The FBAR form seems to be the one that draws the most ire based on what I read.
From what I read on one forum – it’s almost impossible for a US citizen to open a swiss bank account – even if they are legal residents and live in Switzerland… because of this new reporting.
You’ll have to decide if the extra interest is worth the extra paperwork.[/quote]
UBS has a US office in Zurich, and a big US presence, but you are right there is friction between the US and Switzerland at the moment. Their oldest bank closed due to pressure and fines. Offshore banks are usually more amenable.
