Investing while overseas

1,664 Views | 1 Replies | Last: 7 yr ago by drill4oil78
Tormentos
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AG
I am preparing for our move over to Singapore and have come across quite a bit of discussion at online forums in regards to FATCA legislation and US brokerage firms (Fidelity, etc) placing limitations on US clients who reside overseas. I had a discussion with my brokerage and they essentially allow you to hold on to existing positions in my brokerage and IRA accounts but do not allow any new stock/mutual fund/ETF purchases and only allow liquidating sales while overseas.

I am now looking at some banks which specialize in service to US EXPATS (Interactive Brokers, TD Ameritrade Asia are a few), I am wondering if anyone has any experience in this as it seems this is something that the major banks have begun within the past few years due to FATCA legislation.
SwissAgg
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quote:
I am preparing for our move over to Singapore and have come across quite a bit of discussion at online forums in regards to FATCA legislation and US brokerage firms (Fidelity, etc) placing limitations on US clients who reside overseas. I had a discussion with my brokerage and they essentially allow you to hold on to existing positions in my brokerage and IRA accounts but do not allow any new stock/mutual fund/ETF purchases and only allow liquidating sales while overseas.

I am now looking at some banks which specialize in service to US EXPATS (Interactive Brokers, TD Ameritrade Asia are a few), I am wondering if anyone has any experience in this as it seems this is something that the major banks have begun within the past few years due to FATCA legislation.
Just don't tell them where you are located. If you do, they will not accept Transactions.

I live in Switzerland, and my broker says just don't ever mention it.

At the moment, I am with Edward Jones.

I also have an E-trade account where they know I am overseas from the IP address.

It is not a problem.


P.S. Don't Forget to file a FBAR form by every June 15.
drill4oil78
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Just saw this post and I have quite of bit of expereince in Singapore and SE Asia region. Investing these days is very difficult. Many wealth investors will not talk to or take on US citizens because of the FACTA regulations. Can't say I blame them. No one wants to have to deal with IRS regulations and paper work. Just having a bank account is bad enough BS to deal with FACTA. I talked to several wealth managers in Singapore in order to diversify and none would take me on.

Good Luck!
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