Results 1 to 2 of 2
  1. #1
    Join Date
    Dec 2007

    Default Cancelled Permanent Residency


    I was a Permanent Resident in the United States, but have relocated to Israel a just over a year ago. I plan on living in Israel the remainder of my life, so I terminated my green card, and handed it over to the U.S consulate here in Israel.

    I still have U.S assets and am wondering what laws exist regarding foreign citizens having U.S assets. I still have a U.S bank account , the funds are relatively small, under $10,000. I also have a stock investment account with ETrade with under $30,000 in it. I know to open the accounts I needed to provide my social security number, but now that I'm no longer a U.S Permanent resident, nor U.S citizen, do I have to immediately withdraw my funds?

    The only reason I haven't withdrawn all my funds is because of convenience purposes. I haven't set up a investment trading account here in Israel yet. Although I plan on doing it soon. I would like to know if I am breaking any laws by having these accounts that I assume are for U.S residents only. The last thing I want is my accounts to be frozen, or pay some sort of fine. Thanks.

  2. #2
    Join Date
    Jan 2008
    Toledo, OH

    Default Re: Cancelled Permanent Residency

    It's not illegal for you to hold these accounts, but it may violate the bank's terms of service. You'll need to check with your bank about their policies.

    With eTrade, you appear to be fine. eTrade explicitly allows for foreign nationals to hold accounts. You may want to contact them with respect to your change of residence, however, and supply any additional information they might ask for.

    You'd also do well to consult a tax attorney.

    1. Sponsored Links

Similar Threads

  1. J Visas: J1 to F1 to Permanent Residency
    By nzd114 in forum Visas for Business, Tourism and Family
    Replies: 1
    Last Post: 03-15-2011, 05:43 AM
  2. Permanent Residency for Relative
    By bholabhala in forum Immigration Issues
    Replies: 1
    Last Post: 01-29-2009, 08:57 PM
  3. I-407 Abandonment Of Permanent Residency
    By AndreaP in forum Permanent Residency and Naturalization
    Replies: 1
    Last Post: 05-07-2008, 02:02 PM
  4. TPS and Permanent Residency
    By samuel_01 in forum Immigration Issues
    Replies: 5
    Last Post: 08-20-2006, 07:49 PM
  5. Marriage: Permanent Residency Was Denied
    By rockngcricket in forum Visas for Business, Tourism and Family
    Replies: 2
    Last Post: 10-13-2005, 08:42 AM
Sponsored Links

Legal Help, Information and Resources