British Expats - US Banking for Non-Resident?

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British Expats (https://britishexpats.com/forum/)

- USA (https://britishexpats.com/forum/usa-57/)

- - US Banking for Non-Resident? (https://britishexpats.com/forum/usa-57/us-banking-non-resident-780293/)

Speedwell

Dec 11th 2012 7:25 pm

Re: US Banking for Non-Resident?

May I (the USC) open an HSBC account in the US and add my UKC spouse to it? Will he have access to this account while he is in the UK awaiting immigration processing?

nun	Dec 11th 2012 7:29 pm

Re: US Banking for Non-Resident?

Quote:

Originally Posted by bruceba (Post 10428094)

Opening the account is easy. An issue may be the source of the money. It may be taxable by US standards. Interest is usually tax exempt but dividends disbersements, salaries may be subject to US tax.

This possible confusion was why I asked the terms of employment and where the work will be done; it's important that NI or FICA is taken care of as well as income tax. I assume the OP is a UK resident taxed on an arising basis and will be a contractor to the US company with the work being done in the UK, if they are an employee of the US company or the work is done in the America then US taxes become a bigger issue.

Cook_County

Dec 12th 2012 7:42 am

Re: US Banking for Non-Resident?

If there is employment in the UK for a US entity there are permanent establishment issues to resolve as well.

Steve_

Dec 14th 2012 7:05 pm

Re: US Banking for Non-Resident?

Quote:

Originally Posted by bruceba (Post 10428094)

Opening the account is easy. An issue may be the source of the money. It may be taxable by US standards. Interest is usually tax exempt but dividends disbersements, salaries may be subject to US tax.

Which is what the W-8BEN is for. Defines your status.

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