Brokerage account for a Dutch citizen living in Zambia?

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scottr08
Posts: 18
Joined: Sat Aug 22, 2015 2:38 am

Brokerage account for a Dutch citizen living in Zambia?

Post by scottr08 » Thu Mar 26, 2020 10:25 am

My brother-in-law is a Dutch citizen living in Zambia. He wants to invest in the global market of stocks and bonds, but doesn't want to pay the high fees local Zambian brokerages charge (not to mention the non-existent web interface to do trades).

Can anyone recommend a brokerage company that offers access to ETFs or mutual funds that would allow him to create a four-fund portfolio? Ideally there would be no account fees other than the low expense ratios. Account would either be in dollars or Euros.

Thanks!

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occambogle
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Re: Brokerage account for a Dutch citizen living in Zambia?

Post by occambogle » Fri Mar 27, 2020 3:31 am

I would look at Interactive Brokers, they are likely the most expat-friendly brokerage. Some people have suggested Charles Schwab as well, but they turned me down based on country (Kenya), although it could work for Zambia I'm not sure.

Topic Author
scottr08
Posts: 18
Joined: Sat Aug 22, 2015 2:38 am

Re: Brokerage account for a Dutch citizen living in Zambia?

Post by scottr08 » Mon Mar 30, 2020 9:41 am

occambogle wrote:
Fri Mar 27, 2020 3:31 am
I would look at Interactive Brokers, they are likely the most expat-friendly brokerage. Some people have suggested Charles Schwab as well, but they turned me down based on country (Kenya), although it could work for Zambia I'm not sure.
Emailed both Interactive Brokers (IB) and Schwab. Schwab said if he were a US citizen, then he probably could open an account. IB said he was fully eligible to open an account, so he's going to go with them!

TedSwippet
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Location: UK

Re: Brokerage account for a Dutch citizen living in Zambia?

Post by TedSwippet » Mon Mar 30, 2020 10:56 am

scottr08 wrote:
Mon Mar 30, 2020 9:41 am
Emailed both Interactive Brokers (IB) and Schwab. Schwab said if he were a US citizen, then he probably could open an account. IB said he was fully eligible to open an account, so he's going to go with them!
Just FYI, in case you haven't already found it, this section of the wiki contains information specific to non-US based investors:

Outline of Non-US domiciles - Bogleheads

Zambia has no tax treaties with the US, so your brother in law will want to invest through non-US domiciled ETFs, and completely avoid the usual Vanguard US domiciled funds and ETFs discussed regularly on the other forum boards, and which you probably hold yourself. Details in the wiki.

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