As an American, living in Hungary, working for companies in the EU, the Balkans, Britain and Hungary... did you declare that income to the US? Because if you don't disclose foreign holdings on your federal tax return, you open yourself up to total forfeiture, massive fines and possible prison time. Friend of mine discovered this when she traded her shady accountant for a less-shady one. She had to restate 4 years of income because of holdings she had in a B&B in Columbia.

And that's pretty much the bottom line - "diversify my investment in markets beyond what the limited American system would allow" is the exact sort of financial engineering that the Treasury Department clamps down on. Sure - it's your money and you'll do with it what you want but when people whinge about offshoring reform and tax fraud and and and this is exactly the shit they're talking about.

Just because you're a good person with an offshore account does not mean that people with off-shore accounts are virtuous. I probably would have done the exact same thing but I also would have acknowledged that the offshoring of my funds was a necessary evil for a job that the Treasury Department discourages you from taking through brutal disincentives.