Frequently Asked Questions
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Do I need to worry about tax regulations for my overseas accounts?
Truly Financial offers overseas accounts in the U.K. designated in EURO and GBP to both U.S. and Canadian companies. In addition, we also offer U.S. based bank accounts to Canadian companies.
As a registered Canadian company, you are not obligated to pay taxes in the U.S. unless you have a business establishment or office in the United States. Similarly for U.S. companies, you are not obligated to pay taxes in U.K. or Europe by virtue of having an overseas bank account, unless you have a business presence in those geographies.