RE: The secret to live tax-free - the Perpetual Traveling lifestyle
Thanks for a great and very informative article @staatenlos! I am curious about your opinion on something:
Recently my partner applied for and was issued a non-citizen, State National passport. His SS# is in no way tied to the identifying document as it is not a requirement on the application to include it (as a non-citizen would not have a SS#). It looks no different than a citizen passport but I imagine there are identifying codes on it for those in-the-know. Many foreign banks will not do business with US citizens because of the invasive and threatening nature FATCA regulations. Do you think his non-citizen, SN passport will enable him to do business with foreign banks as there is no citizen-identifying factor (SS#) associated with this identifying document?
We're still trying to figure out all of possibilities, options and ramifications of holding this document.
Thanks!!!
The State Citizen passports used to look different, my original one from 20 years ago had a blue cover (from an overseas embassy) but all others I saw were green. Mine had the common law seals of the several States on the pages whereas the US citizens had the federal eagle logo. Now they make them all the same with just pictures, guess they didn't want folks catching on.
Hey Jaime,
generally this does not make a difference, because Greencard-Holders will have the same problems. If there is tax residence in the US, Fatca is involved. Of course, if the person has another citizenship this will make things easier. Beware, that you might have to be dishonest to the banks, which will have consequences if discovered.