nullptrMar 10

"US Person": is a red flag for financial institutions in Europe

https://lemmy.world/post/44073145

"US Person": is a red flag for financial institutions in Europe - Lemmy.World

I saw some posts about american wanting to move to Europe; so just before you guys make the move, double-triple check insurances/banks, because literally every time I (not american) do smth financially related in France, they ask me if I am american? If yes, they won’t even open accounts/ give me insurance etc… Sounds discriminatory but apperently because legal I dont know if that expands to any other field

Show threadCompactFlax
It’s not discriminatory. They don’t have any legal obligation to serve citizens of foreign countries. When they do serve American citizens it triggers a whole lot of regulatory work, and it’s understandable they don’t want to do that unless you’re a high net worth individual (ie they make enough profit to cover that cost)
Mar 10 at 12:30pmWeb
Show threadboolyMar 10

It’s not discriminatory.

I mean it quite literally is discriminatory, but it’s legal and justified discrimination.

Show threadCompactFlaxMar 10
Good point.
Show threadLimoneneMar 10
They do have an obligation to serve their own citizens. The US double tax reporting bullshit does apply to dual citizens.
Show threadmcvMar 11
The rule is not just for US citizens, but for a specific category called “US Person”, which is broader, and I think it includes anyone with any tie to the US. I believe having American parents, having had US citizenship even if you renounced it, or having had a greencard, also count. Though I don’t know the exact rules.