By Shalina Chatlani, Contributing Reporter
RIO DE JANEIRO, BRAZIL - Many United States citizens living overseas are unaware of the potential financial difficulties they could be facing in near future. To help out the Rio-based firm Ipanema Wealth, which is operated by British expatriate Amit Ramnani, offers financial and tax planning considerations.
Expatriates from the United States often find themselves in confusing and costly situations when trying to hold non-U.S. collective or pooled funds, known as PFICs (passive foreign investment companies).
Amit Ramnani explains, “You can fall into the PFIC trap if you invest in a fund which . . .