The strict confidential nature of your personal financial data is of utmost importance to us, and we
will protect your privacy to the best of our ability. We are sending you this privacy notice to help you
understand how we use your private financial data and to let you know what we do to help protect
What Data Do We Collect About You?
To serve our client needs, McKenzie International Investments collects data from you and about
you. Some of this data is to satisfy specific legal and regulatory requirements, while other
information is collated so that we can manage your account efficiently.
Examples of the information that we collect include:
Data from your international client application and other forms, such as name, address, Social
Security number, telephone number, employment background, income, net worth, investment
experience, and other data to manage your account effectively.
Data about your financial transactions, including securities purchased and sold, fund transfers,
account balances, and other account activities.
To Whom Do We Disclose Your Personal Data?
McKenzie International Investments does not sell your personal financial data to anyone.
However, we may disclose your personal data to third parties or other businesses that assist us to
process your transactions or service your account. Other companies to whom we may disclose your
personal data include outside investment advisors or asset managers, variable annuity or insurance
companies, mutual fund companies or the like. We may also provide data to external service
providers that help facilitate our ability to manage your account. Any outside company or third party
provider is required to restrict their use of your data strictly to the purpose for which it was
McKenzie International Investments may also provide your personal data when permitted or
required by law or regulation. Examples include responding to a court order or subpoena,
cooperating with regulators, governmental bodies or law enforcement, or in answer to a request
from a consumer reporting agency. Outside of these circumstances, we will not provide your
personal data to third parties unless you have specifically asked us to do so.
How Do We Protect Your Personal Data?
We restrict access to your financial data to the people who require that data to facilitate our
relationship with you. All our staff members are instructed regarding the policies and procedures
have the opportunity to opt-out.
The Foreign Account Tax Compliance Act (FATCA) is legislation enacted in March 2010 by the US
Government, implemented on 1st January 2013. The purpose of FATCA is to stop American citizens
from evading US tax by using foreign subsidiaries to invest in the US through foreign accounts.
FATCA imposes a 30% withholding tax on foreign entities that refuse to disclose the identities of
their US clients.
Payments subject to a 30% withholding tax include payments sources from the US such as interest,
dividends, rents, salaries, premiums, annuities and any other gross proceeds which could produce
interest or dividends from sources within the US.
Foreign banks and other financial institutions, including foreign insurance companies, must
therefore provide the evidence to verify US status within a time limit. Failure to provide evidence
within the agreed timescale, or if the individual fails to disclose assets in full in their annual tax
returns to the IRS, the foreign financial institution must treat their account as a recalcitrant account
and must withhold all US source income and payments from them and will also be subject to 30%
What Happens If An FFI Does Not Comply With FATCA?
Any foreign financial institution that does not enter with the IRS will be listed as Non Participating
FFI and any US-source payments to these institutions will also be subject to 30% withholding tax that
is deducted directly from the IRS.
What Does An FFI Have To Do?
An FFI may enter into an agreement with the US revenue authorities requiring it to report all US
citizens' accounts. They must be able to capture the status of an individual, have systems to
withhold tax and to report. Certain countries like the US, Italy, Spain and France are currently
negotiating an agreement with the US government to facilitate the exchange of information.
What Do Clients Have To Do?
FATCA requires certain US taxpayers holding foreign financial assets with an aggregate value
exceeding $50,000 to report these assets on new IRS form 8938 and this must be attached to the tax
payer's annual tax return. For most tax payers this will be for tax year 2011, which will be filed in
2012. Failure to report a form 8938 will result in a penalty of $10,000 and $50,000 for continued
failure, plus up to 40% penalty for non reporting of foreign assets.
Does FATCA Only Apply To Banks?
No, the rules also apply to foreign financial institutions as well as non-financial foreign entities,
therefore foreign insurance companies as well.
What Should US Citizen Living Abroad Do?
McKenzie International Investments, the world's largest international financial consultancy that
specialises in expatriates, assured its clients that as FATCA comes into law in 2013, it has made sure
that its experts create specialised products for US clients. McKenzie International Investments is nowoffering its American clients alternative ways to invest their money that could potentially give them
attractive tax advantages, whilst remaining in-line with US laws and regulations.
James McKenzie, CEO of McKenzie International Investments, stated that the company has invested
heavily in recent months to create a global network of products to comply with the implementation
of FATCA. "We believe that banks not accepting US citizens can act as an investment deterrent for
our American clients and have thus made big efforts to be fully equipped to advise them on legal tax
efficient solutions that increase their options and allows them to enjoy the benefits of international
investments. As an international IFA with offices in most expat countries and the States, McKenzie
International Investments is uniquely positioned to offer this advice to US expatriates".
McKenzie International Investments has always had one aim in mind - to help clients develop,
maintain and grow their wealth through personal financial planning that makes sense to each
individual client. We seek to help our clients make the best use of their financial assets by matching
their individual goals with the service provider and strategy that is best-suited to help them achieve
McKenzie International Investments's financial advisers help their clients come up with a personal
strategy that will ease their path towards the accomplishment of specific financial aims. Whether
you’re planning for retirement, saving for a major purchase or your children’s education, or simply
setting something aside for your own peace of mind, our leading financial consultants will provide
you with trustworthy, independent advice that you can rely on, allowing you to confidently manage
your financial investments.
As a result of this relationship based on communication and trust that we share with our clients,
McKenzie International Investments has become the first word in independent financial consultancy.
Total Investment Approach
At McKenzie International Investments, all the elements of our clients' current situation as well as
their future goals and aspirations are taken into consideration when it comes to constructing a
strategic, diversified, tax-efficient financial plan that will generate long-term rewards for you and
McKenzie International Investments offers its clients free, professional analysis on their assets in
order to help them adjust their portfolio. Clients with accounts in several banks risk losing sight of
the different dangers related to money placement, including solvency, currency and location. We
optimise their investments, giving them the opportunity to reap more returns. However, we make it
a point not to gamble with your money – security and impartiality are at the heart of our financial
advisory philosophy, and our greatest strengths include the ability to provide you with unbiased
independent advice that you know you can trust.
We take into account the following factors when creating a financial plan just for you:
Opportunities And Risk
If you would like free confidential advice on how to plan adapt your investment strategy without
obligations then contact us today.