Short answer: keeping home accounts helps receipts, investments and return trips; closing simplifies CRS and admin. A middle path keeps core accounts, closes idle ones, and updates address and tax self-certs.
Closing or Keeping Home-Country Bank Accounts
Written by Global Immigrate consultants · Reviewed by Oscar Yip, Founder & Managing Director
Summary
Trade-offs for receipts, CRS and ongoing KYC.
FAQ
Problems if kept open?
Ongoing KYC and tax self-cert updates required.
Bank forces closure?
Risk policy can end the relationship.
Exchange-control countries?
Handle compliant outward remittance before closing.