Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good idea?

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jamismo
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Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good idea?

Post by jamismo » Thu Jan 12, 2017 8:16 am

Hello everyone and thank you for your time,

as many of you know, individuals not residing in the U.S. can't have a retail account with Vanguard. So, I've been trying to figure out a way around this. Also, since my home country, Colombia, does not have any trustworthy and affordable brokers and the German bureaucracy is too great for pretty much everything, I've decided to look at my possibilities with international banks, in Europe or offshore.

This is how I stumbled upon the Charles Schwab One international account. That seems to be the best way for me to hold a low-fee ETF portfolio, in an international entity, with no management fees, without the U.S. tax burden(according to Charles Schwab). I've also looked into HSBC integrated personal accounts but haven't contacted a representative just yet.

What do you guys think of this?

Thank you!

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in_reality
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by in_reality » Thu Jan 12, 2017 9:04 am

jamismo wrote:Hello everyone and thank you for your time,

as many of you know, individuals not residing in the U.S. can't have a retail account with Vanguard. So, I've been trying to figure out a way around this. Also, since my home country, Colombia, does not have any trustworthy and affordable brokers and the German bureaucracy is too great for pretty much everything, I've decided to look at my possibilities with international banks, in Europe or offshore.

This is how I stumbled upon the Charles Schwab One international account. That seems to be the best way for me to hold a low-fee ETF portfolio, in an international entity, with no management fees, without the U.S. tax burden(according to Charles Schwab). I've also looked into HSBC integrated personal accounts but haven't contacted a representative just yet.

What do you guys think of this?

Thank you!


The Charles Schwab One international account is great!

That said you need to consider taxation.

1) dividends and capital gains
Some people say it's cheaper for them to hold Ireland domiciled funds ...

2) estate tax
If Colombia doesn't have a tax treaty, it might be safer to hold Ireland domiciled funds to protect your heirs.

Interactive Brokers is a good US broker with cheap commisions, except that you need $100k or there is a $10 minimum monthly fee (so if you have $11 in commissions, you pay $11 but if you have $2 in commisions you pay $10). You can buy Ireland domiciled funds through there if you don't have a better option.

I use Schwab One and the ETFs there are great. The issue is taxation.

TroyMcClure
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by TroyMcClure » Thu Jan 12, 2017 10:00 am

jamismo wrote:Also, since my home country, Colombia, does not have any trustworthy and affordable brokers and the German bureaucracy is too great for pretty much everything

I'm surprised you would say that. I'm a foreigner in Germany, I opened a bank and securities account all online, with video authentication through my smartphone, always had the option of speaking English if I wanted to. I've lived and had bank accounts in 6 different countries and Germany has been the easiest on that front for sure.
Maybe it could depend on your type of visa? If that's the case you'd likely have problems throughout the EU, not just DE.

I'll second in_reality with the estate tax issue, in many cases it just isn't a good idea for non-US residents to own US funds.

If you're quite sure you're going to be spending time in Europe for most of your working life I think you should make some efforts in facing the "bureaucracy" and open yourself a local brokerage account.

jamismo
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Thu Jan 12, 2017 11:50 am

in_reality wrote:
jamismo wrote:
1) dividends and capital gains
Some people say it's cheaper for them to hold Ireland domiciled funds ...

2) estate tax
If Colombia doesn't have a tax treaty, it might be safer to hold Ireland domiciled funds to protect your heirs.

Interactive Brokers is a good US broker with cheap commisions, except that you need $100k or there is a $10 minimum monthly fee (so if you have $11 in commissions, you pay $11 but if you have $2 in commisions you pay $10). You can buy Ireland domiciled funds through there if you don't have a better option.

I use Schwab One and the ETFs there are great. The issue is taxation.


Thank you very much for your reply.


Here's something I don't understand. According to http://international.schwab.com/public/ ... ces/us_tax, investments by foreigners in ETFs are not subject to capital gain nor dividents or interest-related taxes and, if they are, can be reclaimed upon submission of the relevant IRS form.

However, I now found this goldmine:
https://www.bogleheads.org/wiki/Nonresi ... n_taxation

There it is explained a bit better, that the problem is indeed, as you said, estate taxes. Am I right in believing, that these taxes will only be due upon death of the investor?

Now, here's one question from me. When I talked with a representative from Schwab, he told me that holding a joint account is a possibility. Do you have any information with regard to how would this change the situation?


Also, thank you for mentioning Irish ETFs. I hadn't heard about it and found this: https://www.bogleheads.org/wiki/Nonresi ... iled_funds

jamismo
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Thu Jan 12, 2017 11:58 am

TroyMcClure wrote:
jamismo wrote:Also, since my home country, Colombia, does not have any trustworthy and affordable brokers and the German bureaucracy is too great for pretty much everything

I'm surprised you would say that. I'm a foreigner in Germany, I opened a bank and securities account all online, with video authentication through my smartphone, always had the option of speaking English if I wanted to. I've lived and had bank accounts in 6 different countries and Germany has been the easiest on that front for sure.
Maybe it could depend on your type of visa? If that's the case you'd likely have problems throughout the EU, not just DE.

I'll second in_reality with the estate tax issue, in many cases it just isn't a good idea for non-US residents to own US funds.

If you're quite sure you're going to be spending time in Europe for most of your working life I think you should make some efforts in facing the "bureaucracy" and open yourself a local brokerage account.


Thank you for your reply!

1. I also have a bank account and opening a brokerage account with German institutions would be easy. I, however, do not plan to stay in Europe. It can be that I stay, this is however not for sure and if the political climate does not change somewhat drastically, I'll certainly leave.

2. Yes, you are right in that it is quite easy to open accounts. However, moving money around, closing them and so on can become cumbersome. Not that I have a huge portfolio but I just want to be able to pump some money into ETFs without worrying about where I'm living at the moment.

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in_reality
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by in_reality » Thu Jan 12, 2017 6:38 pm

jamismo wrote:However, I now found this goldmine:
https://www.bogleheads.org/wiki/Nonresi ... n_taxation

There it is explained a bit better, that the problem is indeed, as you said, estate taxes. Am I right in believing, that these taxes will only be due upon death of the investor?

Now, here's one question from me. When I talked with a representative from Schwab, he told me that holding a joint account is a possibility. Do you have any information with regard to how would this change the situation?


You would face estate tax on half the money when one person died (assuming you are both NRAs - if one is an American they can leave more to an NRA without taxation but not the other way around).

HurdyGurdy
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by HurdyGurdy » Thu Jan 12, 2017 8:54 pm

jamismo wrote:Here's something I don't understand. According to http://international.schwab.com/public/international/pricing_services/us_tax, investments by foreigners in ETFs are not subject to capital gain nor dividents or interest-related taxes and, if they are, can be reclaimed upon submission of the relevant IRS form.


I don't read that in the web page you linked.

It says

Other foreign investors [those citizens from a country without a tax treaty, like Colombia] generally pay a flat 30% withholding tax on interest and dividend income from U.S. securities investments. Also as a withholding agent, Schwab is required to report interest and dividend income from U.S. securities to the IRS and to the client on Form 1042-S.


Are you talking about ETFs that don't distribute dividends?

You may want to explore having your investing base in a country that does have a tax treaty with Colombia. I think that the UK may have signed one recently -- not ratified yet.

Furthermore, even if the country does not have a tax treaty with Colombia, some taxes paid elsewhere may be waived to some extent in Colombia -- according to the Estatuto Tributario.

jamismo
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Sun Jan 15, 2017 9:38 am

HurdyGurdy wrote:
jamismo wrote:Here's something I don't understand. According to http://international.schwab.com/public/international/pricing_services/us_tax, investments by foreigners in ETFs are not subject to capital gain nor dividents or interest-related taxes and, if they are, can be reclaimed upon submission of the relevant IRS form.


I don't read that in the web page you linked.

It says

Other foreign investors [those citizens from a country without a tax treaty, like Colombia] generally pay a flat 30% withholding tax on interest and dividend income from U.S. securities investments. Also as a withholding agent, Schwab is required to report interest and dividend income from U.S. securities to the IRS and to the client on Form 1042-S.


Are you talking about ETFs that don't distribute dividends?

You may want to explore having your investing base in a country that does have a tax treaty with Colombia. I think that the UK may have signed one recently -- not ratified yet.

Furthermore, even if the country does not have a tax treaty with Colombia, some taxes paid elsewhere may be waived to some extent in Colombia -- according to the Estatuto Tributario.


Yes, I meant ETFs which don't pay dividends. However, I misunderstood their statement: 0 income tax, 30-15% dividend and interest, estate tax in full with possible exceptions.

Thank you for the information! I didn't know about the upcoming tax treaty with the UK.

Are you aware of any countries where taxes are waived as per Estatuto Tributario?

HurdyGurdy
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by HurdyGurdy » Mon Jan 16, 2017 2:12 am

A list of Colombia's bilateral treaties with tax implications:

http://www.dian.gov.co/DIAN/22daidoc.nsf/bilateral?OpenView

This has a a more select list
http://www.dian.gov.co/dian/15servicios.nsf/pages/Convenios_Tributarios_Internacionales

Estatuto tributario, art. 254 -- I've not checked to see if it includes the latest tax reform.
http://www.dian.gov.co/dian/15servicios.nsf/etributario?openview

TroyMcClure
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by TroyMcClure » Mon Jan 16, 2017 5:47 am

jamismo wrote:Yes, I meant ETFs which don't pay dividends.

Where will you be paying taxes?
Just as a reminder, if you are a tax resident in Germany, my understanding is you will have to pay taxes on dividends, whether they are reinvested in the fund (=so-called thesaurierend) or distributed, and regardless of where the fund is domiciled.

jamismo
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Mon Jan 16, 2017 6:36 pm

TroyMcClure wrote:
jamismo wrote:Yes, I meant ETFs which don't pay dividends.

Where will you be paying taxes?
Just as a reminder, if you are a tax resident in Germany, my understanding is you will have to pay taxes on dividends, whether they are reinvested in the fund (=so-called thesaurierend) or distributed, and regardless of where the fund is domiciled.


You seem to be correct, and that kind of sucks. However, I'm still clearing this out and according to http://www.investinganswers.com/investm ... broad-1366 holding ETFs domiciled in Ireland would be slightly more advantageous. Do you know how these are taxed in Germany?


Thank you for your reply and in case you have any info regarding taxation in Germany it would be greatly appreciated.

TroyMcClure
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by TroyMcClure » Wed Jan 18, 2017 3:06 am

jamismo wrote:However, I'm still clearing this out and according to http://www.investinganswers.com/investm ... broad-1366

I fail to see how this article would apply to you in any way. You're not a US citizen, and you therefore don't have an IRA.
For everything that you look up online, especially on something like taxation, you need to make absolutely sure that it applies to your situation, and you need to cross-check it thoroughly.

By the way this might be something that you would need to look into: are there any tax-advantaged retirement accounts or schemes in Colombia?
In Germany there are options depending on whether you're an employee or a freelancer working for yourself (Riester rente, Ruerup); they are nowhere near equivalent to an IRA though, contribution limits are low, fees typically high, etc.

Do you know how these are taxed in Germany?

Yes I do since I'm a tax resident in Germany. It's as I said, you have to declare gains on dividends reinvested for accumulating funds and pay taxes on them, and you have to keep records of this for when you actually sell these funds in the future to avoid double taxation. That applies to any sort of funds including ETFs.
The law is changing, from 2018 onwards there will be no need to make an explicit declaration of gains on dividends reinvested, instead there will be an assumed standard "gains calculation" set by the authorities and applicable to all funds, on which the usual tax rate applicable to interest and capital gains will be retained by brokers directly. For funds that distribute the amount of taxes to pay according to the calculation will be reduced by the amount of taxes already retained on distributed dividends.
The end result will be pretty much the same as it is today: you pay taxes on all funds whether they distribute or not, it just makes the administration easier.
Finally it is standard in Germany for the first 801EUR of interest and capital gains to be tax free, so if you have a small portfolio none of this matters much but it's worth noting for the future.

jamismo
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Wed Jan 18, 2017 4:42 am

HurdyGurdy wrote:A list of Colombia's bilateral treaties with tax implications:

http://www.dian.gov.co/DIAN/22daidoc.nsf/bilateral?OpenView

This has a a more select list
http://www.dian.gov.co/dian/15servicios.nsf/pages/Convenios_Tributarios_Internacionales

Estatuto tributario, art. 254 -- I've not checked to see if it includes the latest tax reform.
http://www.dian.gov.co/dian/15servicios.nsf/etributario?openview


This is a goldmine, thank you man!

jamismo
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Wed Jan 18, 2017 4:47 am

TroyMcClure wrote:
jamismo wrote:However, I'm still clearing this out and according to http://www.investinganswers.com/investm ... broad-1366

I fail to see how this article would apply to you in any way. You're not a US citizen, and you therefore don't have an IRA.
For everything that you look up online, especially on something like taxation, you need to make absolutely sure that it applies to your situation, and you need to cross-check it thoroughly.

By the way this might be something that you would need to look into: are there any tax-advantaged retirement accounts or schemes in Colombia?
In Germany there are options depending on whether you're an employee or a freelancer working for yourself (Riester rente, Ruerup); they are nowhere near equivalent to an IRA though, contribution limits are low, fees typically high, etc.

Do you know how these are taxed in Germany?

Yes I do since I'm a tax resident in Germany. It's as I said, you have to declare gains on dividends reinvested for accumulating funds and pay taxes on them, and you have to keep records of this for when you actually sell these funds in the future to avoid double taxation. That applies to any sort of funds including ETFs.
The law is changing, from 2018 onwards there will be no need to make an explicit declaration of gains on dividends reinvested, instead there will be an assumed standard "gains calculation" set by the authorities and applicable to all funds, on which the usual tax rate applicable to interest and capital gains will be retained by brokers directly. For funds that distribute the amount of taxes to pay according to the calculation will be reduced by the amount of taxes already retained on distributed dividends.
The end result will be pretty much the same as it is today: you pay taxes on all funds whether they distribute or not, it just makes the administration easier.
Finally it is standard in Germany for the first 801EUR of interest and capital gains to be tax free, so if you have a small portfolio none of this matters much but it's worth noting for the future.



Thank you!


What I don't understand is the following. If my savings are in Colombia(as it is at the moment) and my portfolio is with a non-German broker or bank and consists of non-German ETFs, why do I have to pay taxes on them? I already pay income taxes, so, why is it that I must also pay taxes on investments related to money which I didn't earn in Germany? That makes zero sense to me, seems really unfair.

jamismo
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Fri Jan 20, 2017 12:09 pm

in_reality wrote:
jamismo wrote:However, I now found this goldmine:
https://www.bogleheads.org/wiki/Nonresi ... n_taxation

There it is explained a bit better, that the problem is indeed, as you said, estate taxes. Am I right in believing, that these taxes will only be due upon death of the investor?

Now, here's one question from me. When I talked with a representative from Schwab, he told me that holding a joint account is a possibility. Do you have any information with regard to how would this change the situation?


You would face estate tax on half the money when one person died (assuming you are both NRAs - if one is an American they can leave more to an NRA without taxation but not the other way around).



Is that really the case, though?

The website from Charles Schwab says the follwoing:

"Current U.S. estate tax laws also provide significant advantages to foreign investors. While foreign investors are subject to a low estate tax threshold of $60,000 on U.S. situated assets, certain asset classes—including non-U.S. registered mutual funds, U.S. treasury and government agency securities, and bonds and commercial paper—are exempt from U.S. estate taxes. Other assets are taxed progressively up to 55% above the $60,000 threshold."


Is it then correct to assume, that ETFs registered in Ireland would be exempt from U.S. estate taxes?

http://international.schwab.com/public/ ... ces/us_tax

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in_reality
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by in_reality » Fri Jan 20, 2017 1:33 pm

jamismo wrote:
in_reality wrote:
jamismo wrote:However, I now found this goldmine:
https://www.bogleheads.org/wiki/Nonresi ... n_taxation

There it is explained a bit better, that the problem is indeed, as you said, estate taxes. Am I right in believing, that these taxes will only be due upon death of the investor?

Now, here's one question from me. When I talked with a representative from Schwab, he told me that holding a joint account is a possibility. Do you have any information with regard to how would this change the situation?


You would face estate tax on half the money when one person died (assuming you are both NRAs - if one is an American they can leave more to an NRA without taxation but not the other way around).



Is that really the case, though?

The website from Charles Schwab says the follwoing:

"Current U.S. estate tax laws also provide significant advantages to foreign investors. While foreign investors are subject to a low estate tax threshold of $60,000 on U.S. situated assets, certain asset classes—including non-U.S. registered mutual funds, U.S. treasury and government agency securities, and bonds and commercial paper—are exempt from U.S. estate taxes. Other assets are taxed progressively up to 55% above the $60,000 threshold."


Is it then correct to assume, that ETFs registered in Ireland would be exempt from U.S. estate taxes?

http://international.schwab.com/public/ ... ces/us_tax


Yes, ETFs registered in Ireland would be exempt from U.S. estate taxes. There aren't good non-USA funds at Schwab though.

In terms of taxation, I believe I was correct if the joint owner is your spouse. When one dies, the other will have to pay taxes on half the amount (minus the $60k exclusion). US citizens can leave their spouse unlimited amount, but NRAs can't. If the joint owner isn't a spouse, I believe the whole amount is considered part of the deceased person's estate.

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in_reality
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by in_reality » Fri Jan 20, 2017 1:37 pm

jamismo wrote:What I don't understand is the following. If my savings are in Colombia(as it is at the moment) and my portfolio is with a non-German broker or bank and consists of non-German ETFs, why do I have to pay taxes on them? I already pay income taxes, so, why is it that I must also pay taxes on investments related to money which I didn't earn in Germany? That makes zero sense to me, seems really unfair.


Do you get a credit on your German taxes for taxes paid to Colombia? You should.

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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Fri Jan 20, 2017 1:48 pm

in_reality wrote:
Yes, ETFs registered in Ireland would be exempt from U.S. estate taxes. There aren't good non-USA funds at Schwab though.



I thought that was going to be where the fairytale was going to end.


However, could you further elaborate on this?


I thought that as long as the particular securities one wants to buy have an ISIN and are traded in NYSE one could buy them through Schwab.

Or do you mean they have no non-USA funds which are commission-free?

Do you know if there's a list of the non-USA ETFs one can buy through Schwab?

Since Vanguard has several interesting Ireland-domiciled funds that was going to be my way to go but if the selection is really that limited that breaks my whole plans.


I'm back at square one.

Thank you very much!!

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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by in_reality » Fri Jan 20, 2017 1:57 pm

jamismo wrote:
in_reality wrote:
Yes, ETFs registered in Ireland would be exempt from U.S. estate taxes. There aren't good non-USA funds at Schwab though.



I thought that was going to be where the fairytale was going to end.


However, could you further elaborate on this?


I thought that as long as the particular securities one wants to buy have an ISIN and are traded in NYSE one could buy them through Schwab.

Or do you mean they have no non-USA funds which are commission-free?

Do you know if there's a list of the non-USA ETFs one can buy through Schwab?

Since Vanguard has several interesting Ireland-domiciled funds that was going to be my way to go but if the selection is really that limited that breaks my whole plans.


I'm back at square one.

Thank you very much!!


Schwab has some non-USA domiciled funds, but none of the Vanguard ones. It's not a good selection. There is a list on their international site.

You can't buy any non-USA domiciled funds via Schwab, it has to be one they offer.

Interactive Brokers can trade Vanguard non-USA domiciled funds as they provided access to other markets.

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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Fri Jan 20, 2017 2:41 pm

in_reality wrote: There is a list on their international site.



Sadly, I can't find it.


Do you, by any chance, still have the link?

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in_reality
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by in_reality » Fri Jan 20, 2017 2:54 pm

jamismo wrote:
in_reality wrote: There is a list on their international site.



Sadly, I can't find it.


Do you, by any chance, still have the link?



Aaa, sorry. I can see it when logged into my account but there doesn't seem to be a public link.

Interactive Brokers is much better for that I think.

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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by jamismo » Fri Jan 20, 2017 7:18 pm

in_reality wrote:

Aaa, sorry. I can see it when logged into my account but there doesn't seem to be a public link.

Interactive Brokers is much better for that I think.



Thank you for double-checking!


I just called them and they told me that I can buy **any** ETF, as long as I have the symbol, I want. Some are just not available online but they are working on it.
I still have to call the global investment team, though.

Could you perhaps upload a screen shot of the ireland-domiciled ETFs you see on the platform?


Even just telling me that you see some interesting ETFs such as VUSA would be really helpful!

Thanks again.

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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by in_reality » Fri Jan 20, 2017 11:20 pm

jamismo wrote:
in_reality wrote:

Aaa, sorry. I can see it when logged into my account but there doesn't seem to be a public link.

Interactive Brokers is much better for that I think.



Thank you for double-checking!


I just called them and they told me that I can buy **any** ETF, as long as I have the symbol, I want. Some are just not available online but they are working on it.
I still have to call the global investment team, though.

Could you perhaps upload a screen shot of the ireland-domiciled ETFs you see on the platform?


Even just telling me that you see some interesting ETFs such as VUSA would be really helpful!

Thanks again.


There aren't any ETFs available via the Schwab One International Brokerage account. Only offshore mutual funds. They aren't attractive at all.

Schwab's Global account does let you buy stocks and ETFs on foreign exchanges in that exchanges local currency, but I am not sure the requirements for opening one. I think you need to be a US person (citizen or resident alien), but maybe that is not true.
http://www.schwab.com/public/schwab/inv ... al_trading

Even if you can open the account, compare the costs to Interactive Brokers. The Schwab Global account has a fee for broker assisted transactions which is what you say they said you'd need. I am not sure how much it is since the fees are listed in the local currency. Not sure about the case where you buy a Ireland domiciled fund listed on the London Stock Exchange but is denominated in USD as some Vanguard funds are.

Post back what you find out. They are open from 5:30 PM Sun (US Eastern) to 5:30 PM Fri.

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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by HurdyGurdy » Fri Jan 20, 2017 11:26 pm

jamismo wrote:
in_reality wrote:
Aaa, sorry. I can see it when logged into my account but there doesn't seem to be a public link.
Interactive Brokers is much better for that I think.


Thank you for double-checking!
I just called them and they told me that I can buy **any** ETF, as long as I have the symbol, I want. Some are just not available online but they are working on it.
I still have to call the global investment team, though.
Could you perhaps upload a screen shot of the ireland-domiciled ETFs you see on the platform?
Even just telling me that you see some interesting ETFs such as VUSA would be really helpful!
Thanks again.


The website may display different info when viewed from different countries.

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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by fnmix » Thu Sep 14, 2017 8:50 am

Hi Jamismo,

Just curious if you were able to get this to a conclusion. I.e. did you go with Schwab One International or with Interactive brokers? And were you able to set up your account to buy Ireland domiciled ETFs?

Would love to hear your experience with either entity.
jamismo wrote:
Fri Jan 20, 2017 7:18 pm
in_reality wrote:

Aaa, sorry. I can see it when logged into my account but there doesn't seem to be a public link.

Interactive Brokers is much better for that I think.

Thank you for double-checking!


I just called them and they told me that I can buy **any** ETF, as long as I have the symbol, I want. Some are just not available online but they are working on it.
I still have to call the global investment team, though.

Could you perhaps upload a screen shot of the ireland-domiciled ETFs you see on the platform?


Even just telling me that you see some interesting ETFs such as VUSA would be really helpful!

Thanks again.

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in_reality
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Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by in_reality » Thu Sep 14, 2017 6:59 pm

fnmix wrote:
Thu Sep 14, 2017 8:50 am
Hi Jamismo,

Just curious if you were able to get this to a conclusion. I.e. did you go with Schwab One International or with Interactive brokers? And were you able to set up your account to buy Ireland domiciled ETFs?

Would love to hear your experience with either entity.
jamismo wrote:
Fri Jan 20, 2017 7:18 pm
in_reality wrote:

Aaa, sorry. I can see it when logged into my account but there doesn't seem to be a public link.

Interactive Brokers is much better for that I think.

Thank you for double-checking!


I just called them and they told me that I can buy **any** ETF, as long as I have the symbol, I want. Some are just not available online but they are working on it.
I still have to call the global investment team, though.

Could you perhaps upload a screen shot of the ireland-domiciled ETFs you see on the platform?


Even just telling me that you see some interesting ETFs such as VUSA would be really helpful!

Thanks again.
Hi fnmix,

I got your pm but couldn't respond as it says

Your friend should use Interactive Brokers. The downside is the $10/mo. minimum fee until you hit $100k. Interactive Brokers is very credible I think. They aren't as good at holding hands with people who have little experience though. I found some webinars one time that were worth looking at on how to actually make trades (and change currency). The webinar list was for upcoming events and had nothing to see, but there was an archive. Sorry don't have a url now.

I don't believe Ireland Domiciled ETFs are available at Schwab via their International One brokerage account (which I use).

There is another account type called the global account which I believe jamismo said allowed them to buy Ireland Domiciled ETFs if they called the global team on the phone. The global account isn't available to non-US-residents though. You can double check that, but that was the situation last time I looked 12 months ago or so. It's just a way to give US-residents direct access to foreign markets.

fnmix
Posts: 175
Joined: Sun Sep 09, 2012 4:50 pm
Location: Northern California

Re: Colombian digital nomad living in Germany: Is a Schwab One or an HSBC integrated pers. investment account a good ide

Post by fnmix » Thu Sep 14, 2017 10:24 pm

Hi in_reality

Thank you for taking the time to reply. I am note sure what is wrong with PM. I look at all the settings and they appear fine. I am not a heavy PM user so can't quite say what is "normal" for PM to work.

Anyways, your remarks are right on and match what I found pretty closely. Between Schwab One and Interactive Brokers, Interactive Brokers is the better choice for an non-US citizen residing outside the US and interest in Ireland domiciled ETFs.

My research did throw up one other brokerage - DBS Vickers - that I am investigating before making a final recommendation.

Once again, thanks a lot.
in_reality wrote:
Thu Sep 14, 2017 6:59 pm
Hi fnmix,

I got your pm but couldn't respond as it says

Your friend should use Interactive Brokers. The downside is the $10/mo. minimum fee until you hit $100k. Interactive Brokers is very credible I think. They aren't as good at holding hands with people who have little experience though. I found some webinars one time that were worth looking at on how to actually make trades (and change currency). The webinar list was for upcoming events and had nothing to see, but there was an archive. Sorry don't have a url now.

I don't believe Ireland Domiciled ETFs are available at Schwab via their International One brokerage account (which I use).

There is another account type called the global account which I believe jamismo said allowed them to buy Ireland Domiciled ETFs if they called the global team on the phone. The global account isn't available to non-US-residents though. You can double check that, but that was the situation last time I looked 12 months ago or so. It's just a way to give US-residents direct access to foreign markets.

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