FATCA scrutiny cause of concern for LatAm investors

Pedro Gonçalves
clock • 2 min read

The wealthy Jewish community in Latin America fears that FATCA regulations demanding fiscal information be shared with the US will bring and added layer of scrutiny to their businesses. Jewish communities in Colombia, Argentina and Mexico have traditionally relied on the US, particularly Miami, and Israel as places to discreetly keep their capital. However, under FATCA these investors may be subject to bilateral data transfer. "The Israeli banking industry was based for years on receiving deposits, especially from Jews abroad, which served the Israeli economy's foreign currency needs....

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