@Sanctuaryrh , whether you open a bank account in another country really depends on what you want to do with the monies. The fact that a foreign bank / financial account owned by or having signature authority over, comes under FBAR ( form 114 and on-line only ) or FATCA ( form 8938 along with your return), should have no bearing, IMHO. Yes , these are extra forms to fill out but there are no tax implications.
The fact remains that income from another country is still taxable income to a US person ( citizen/ GreenCard/ Resident for Tax Purposes). So I would not dwell too much on the FBAR / FATCA requirements.
That is my view
Is there more I can do for you ?
