Re:Wealthy people are renouncing American citizenship
by throwaway2037 on Friday August 06, 2021 @09:56AM
(#28087212)
You wrote: Thanks to IRS regulations, 90% of investment firms will just reject me outright rather than deal with the paperwork.
Sorry for your troubles. Do you know about https://www.interactivebrokers.com? They are an ultra-low cost international brokerage. It seems they specialise in handling complex regulations! They can open brokerage accounts for local residents in an incredible number of countries -- all legally. Even India, which very difficult! Normally, they have a tiny office in each location to handle local financial regulatory requires (KYC, AML). FYI: The head office is in the United States, which is great for strong securities regulations. I strongly recommend it. And they aren't some start-up. They have been around for a long time. Their product range is similar to a large investment bank. You can trade everything under the sun that is listed on an exchange.
Save the best for last: They recently scrapped their minimum monthly fees for low balance accounts.
(Re-reading this post, sorry if I sound like a 'shill'. Everything I wrote above can be independently verified with some Google searching!)
Sorry for your troubles. Do you know about https://www.interactivebrokers.com? They are an ultra-low cost international brokerage. It seems they specialise in handling complex regulations! They can open brokerage accounts for local residents in an incredible number of countries -- all legally. Even India, which very difficult! Normally, they have a tiny office in each location to handle local financial regulatory requires (KYC, AML). FYI: The head office is in the United States, which is great for strong securities regulations. I strongly recommend it. And they aren't some start-up. They have been around for a long time. Their product range is similar to a large investment bank. You can trade everything under the sun that is listed on an exchange.
Save the best for last: They recently scrapped their minimum monthly fees for low balance accounts.
(Re-reading this post, sorry if I sound like a 'shill'. Everything I wrote above can be independently verified with some Google searching!)