11-05-2017, 12:22 AM
Well friends, I got offered a new job back in Europe, it's a very good deal so I'll likely be making my way back across the pond by the end of this year! If that's the case, I spent 5 amazing years in the US and I'll always have this country in my heart (and an American firstborn)!
I have a few doubts regarding my portfolio and I'm unsure what to do, knowing there's risk in every decision, here are the options I could think of:
1) market is at all time high, I could sell everything by the end of this year, pay 15% capital gains, take the cash to the new country and then evaluate if I buy a house or invest in ETFs/Funds. Taxes in the new country are 2x the US, so investing in dividends is likely not the best decision, as I would be paying almost 30% on dividends (also on capital gains) plus the complexities around tax withholdings, etc.
2) Transfer my holdings to an international broker like Interactive Brokers, but now pay 2x taxes on dividends and capital gains and just deal with it...
3) Find a way to keep it all under US taxation law somehow... this would be ideal, I'm just not sure if there's a legal way to do it.
In any case, I would have to leave Merril Edge as they don't deal with non residents, so I'm looking for a new broker which accepts international clients, always a bit of a stressful situation.
Questions:
- Ideally, I'd like to keep a bank account in the US in usd, a credit card associated with it and eventually a brokerage account all linked, do you know of such an option for non residents? Or will I always need a physical address in the US for that?
- What broker do you recommend based on low fees, to move my positions from ME to?
- What is the best way and with the lowest fees to transfer a large amount of money from usd to Euros in case I decided to sell? I remember I paid an insane amount on fees when I moved from Europe to the US a few years ago.
As anyone gone through this process which can share their learnings?
Thanks
PS: 401k will stay where it is, I believe it's the best for now.
I have a few doubts regarding my portfolio and I'm unsure what to do, knowing there's risk in every decision, here are the options I could think of:
1) market is at all time high, I could sell everything by the end of this year, pay 15% capital gains, take the cash to the new country and then evaluate if I buy a house or invest in ETFs/Funds. Taxes in the new country are 2x the US, so investing in dividends is likely not the best decision, as I would be paying almost 30% on dividends (also on capital gains) plus the complexities around tax withholdings, etc.
2) Transfer my holdings to an international broker like Interactive Brokers, but now pay 2x taxes on dividends and capital gains and just deal with it...
3) Find a way to keep it all under US taxation law somehow... this would be ideal, I'm just not sure if there's a legal way to do it.
In any case, I would have to leave Merril Edge as they don't deal with non residents, so I'm looking for a new broker which accepts international clients, always a bit of a stressful situation.
Questions:
- Ideally, I'd like to keep a bank account in the US in usd, a credit card associated with it and eventually a brokerage account all linked, do you know of such an option for non residents? Or will I always need a physical address in the US for that?
- What broker do you recommend based on low fees, to move my positions from ME to?
- What is the best way and with the lowest fees to transfer a large amount of money from usd to Euros in case I decided to sell? I remember I paid an insane amount on fees when I moved from Europe to the US a few years ago.
As anyone gone through this process which can share their learnings?
Thanks
PS: 401k will stay where it is, I believe it's the best for now.