AboutAlexander J. Hay Expertise I am a U.S. lawyer with offices in Houston, Texas and in Belize. I can answer questions on U.S. Immigration, U.S. corporate law, and Offshore Tax and Asset Planning.
Experience I am a U.S. attorney with offices in the United States and Belize. I have experience helping to protect assets, reduce taxes, and improve investment performance by utilizing global investment techniques.
Education/Credentials Harvard University, A.B. degree; University of Houston Law Center, J.D. Degree; Fulbright Scholar
Question I am a US citizen residing in Hong Kong. I still keep my bank account with the US Bank. However, my savings account is earning almost zero interest. I tried to switch the money to a internet bank that I found from the Web, since I learned that I can earn almost 4% from a 5-year CD and more importantly to me it is FDIC insured. It wouldn't let me because it required me to have a US address which I don't have. Is there any FDIC bank that would let me open a CD account without a US address. Also, is there any other way that I can earn safe and a little higher return than a savings account when I don't keep an address in the States. Thanks for answering my questions.
Answer Not that I know of.
But think about issues of investing and safety. FDIC insurance costs a tremendous amount in so many ways. There are many very conservative mutual funds that consistently produce 5% to 10% returns a year. The funds are not guaranteed, but they are safe.
There is a big difference between guaranteed and safe.
If you want higher returns, you will need to depart from the guaranteed investments, and move to safe investments.
