Go Curry Cracker > Early Retirement
US Investment accounts while overseas
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rothmanj:
Greetings All!
Question I am hoping you can point me in the right direction on. I recently (2 weeks!) entered my FIRE stage and moved overseas. I updated my address with my bank and they informed me they couldn't administer my index funds any more if I'm overseas. Any suggestions?
gocurrycracker:
Presumably this is Vanguard?
For some reason they have a policy of not working with non US residents.
People avoid this by working with any other brokerage company, and/or not informing Vanguard that they are overseas.
snowcanyon:
I thought it was a bunch of brokerages (Fidelity, Morgan Stanley and a few others). Or do they just not allow you to open accounts?
What happens with the whole mutual fund abroad issue? Sadly, I have MFs, not ETFs.
ugh...
prognastat:
Vanguard definitely doesn't work with non US residents. Wouldn't surprise me if the others have similar policies, but since I don't have anything with them I've never checked.
A common way around it is to still have a US postal address either through friends/family who will receive and forward the mail or by paying for a service that does this.
gocurrycracker:
--- Quote from: snowcanyon on March 17, 2019, 02:40:19 AM ---I thought it was a bunch of brokerages (Fidelity, Morgan Stanley and a few others). Or do they just not allow you to open accounts?
What happens with the whole mutual fund abroad issue? Sadly, I have MFs, not ETFs.
ugh...
--- End quote ---
This is one of those urban legends that the Internet loves to spread again and again.
It's technically illegal for non-US residents to buy MFs. Which is dumb. But there is nothing illegal about owning them, so if you are accumulating while outside the US just buy ETFs. nbd.
I have accounts with Fidelity, Vanguard, JP Morgan, and Etrade. No problems.
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