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Political Discussion
Reply to "Do you think an Exit Ban could actually happen?"
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[quote=Anonymous][quote=Anonymous]At least have a few things in place; make sure passports for the entire family are current, have cash at hand and park some money in an account like HSBC expat. In such situations, your ability to access [b]money is everything.[/b][/quote] This is the real issue. It would be nearly impossible to ban travel without devastating large swaths of many economies. But, they could make it very expensive to transfer money. And it wouldn’t be too hard to tailor it to prevent people from becoming expats by taxing certain classes of remittances. Unfortunately, for US citizens just getting an HSBC expat account or an individual account overseas wouldn’t be foolproof insurance. Just note the power the US government maintains with FBAR and FATCA rules. [/quote]
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