US Expat Looking to Invest
Posted by paygiful@reddit | expats | View on Reddit | 4 comments
Hi everyone! I currently live in Taiwan and am looking to invest in Index Funds or other similar concepts. The issue I am running into is places like Fidelity won't allow me to open an account because I have an employer outside of the country. I do have a US address I can use, but would like to find a site like Fidelity. Does anyone have any advice for other similar situations? Thanks so much!
No-Pea-8967@reddit
Charles Schwab will also take overseas US citizens
CG-Expat@reddit
Just to elaborate on this comment… they will allow you to have specifically an “international account” rather than a “US account”
Hitsuzenmujun@reddit
Yes, this. Also - read the stipulations carefully. Each fin. Institution interprets the law differently so their questionnaires vary. Meaning, some may permit you to open an account.
Good luck.
texas_asic@reddit
Try Interactive Brokers. They're one of the more expat-friendly firms.
Make sure you understand what PFICs are and know about your FBAR/FATCA reporting obligations
https://www.bogleheads.org/wiki/US_tax_pitfalls_for_a_US_person_living_abroad
https://www.bogleheads.org/wiki/Taxation_as_a_US_person_living_abroad