Comment by wg0
17 hours ago
There's a term called "US Person". Many European banks will refuse to open your bank account if you're a "US Person" and require upfront declaration that I'm not a "US Person."
Reason? Because banks don't want to deal with the mandatory annual reporting of the "US Persons" to US government on regular basis.
Their solution? Don't have a "US Person" as your client.
This appears to have been downvoted but everything is completely factual in what the parent poster said. I have literally been told by many banks they can't help me due to this.