Regular stock-trading platforms for non-CSR resident (Paraguay)?

[honor]

Both are available in interactive brokers, it doesn’t seems to have some sort of restriction.
They’re not available in T212 as I can see.
I use T212 now instead of IB but just because it’s lower fees and easiness of funding trough credit or debit card, if I get to the 100K maybe I’ll analyze if I stay with them or move to IB as some fees are waived from 100K in the account.

Probably a good idea as T212 insures only until 85K.

 

[honor]

Awesome. Thanks. Perhaps not as T212 is registered in the UK, hence the ETF restriction. Do you live in PY full time?

I am assuming that your IB account is registered to your PY address as a tax resident there, yes? Whereas the T212 account is still registered in the UK, hence the restriction. I ask all this because I am planning to move to Asuncion later this year and want to be sure that I don't have to close my ETF positions due to the kind of restriction in the EU, which I had also considered as a move but will not because of this and the high taxation in the EU.

 

[jjrapy]

Awesome. Thanks. Perhaps not as T212 is registered in the UK, hence the ETF restriction. Do you live in PY full time?

Maybe.
Also it could be because as far as I have read, they offer fractional shares so maybe the ETFs you asked for, are not available fractionally. They do have a forum where you can ask for stocks/etfs not available and then wait until they add them.
Yes I do, full Paraguayan
You’re right, T212 insurance is up to 85k.

 

[jjrapy]

I am assuming that your IB account is registered to your PY address as a tax resident there, yes? Whereas the T212 account is still registered in the UK, hence the restriction. I ask all this because I am planning to move to Asuncion later this year and want to be sure that I don't have to close my ETF positions due to the kind of restriction in the EU, which I had also considered as a move but will not because of this and the high taxation in the EU.

Yes, also my T212 account is registered to my Paraguay address.
No problem until now, I just have 2 etf (buy-and-hold)

 

[honor]

Interesting. Good to know because there are not so many brokerages that give access to US markets to non-US residents.

Just to be clear, you are 100% certain that IB is giving you the option to purchase shares of IGV and IGM?

 

[jjrapy]

Interesting. Good to know because there are not so many brokerages that give access to US markets to non-US residents.

Just to be clear, you are 100% certain that IB is giving you the option to purchase shares of IGV and IGM?

Well, it does appear and have the option to buy in IB. Currently I don’t have funds in IB so I can’t give it a try.
I don’t know if the demo account will give more information regarding this.
I think it shouldn’t be a problem, just subject to taxes.

 

[honor]

Well, it does appear and have the option to buy in IB. Currently I don’t have funds in IB so I can’t give it a try.
I don’t know if the demo account will give more information regarding this.
I think it shouldn’t be a problem, just subject to taxes.

Cool. Thanks. I thought that investments outside of PY are not subject to taxation. In other words, income generated outside of PY. No? How much tax to you pay on your portfolio capital gains?

 

[jjrapy]

Cool. Thanks. I thought that investments outside of PY are not subject to taxation. In other words, income generated outside of PY. No? How much tax to you pay on your portfolio capital gains?

You’re right.. No tax on investments outside as long as you already payed taxes here.
I was talking about the US taxes , the 30% withholding on dividends.

 

[Cetme308win]

I am assuming that your IB account is registered to your PY address as a tax resident there, yes? Whereas the T212 account is still registered in the UK, hence the restriction. I ask all this because I am planning to move to Asuncion later this year and want to be sure that I don't have to close my ETF positions due to the kind of restriction in the EU, which I had also considered as a move but will not because of this and the high taxation in the EU.

You can actually open a brokerage account in HK so you won't have any stupid European restrictions going on

 

[jjrapy]

You can actually open a brokerage account in HK so you won't have any stupid European restrictions going on

Which one accept Paraguayan citizens?

 

[Cetme308win]

Hi guys

I have a quick question. I have some money on my revolut, which I would like to trade stocks for (No CFD's - just regular buy and hold a stock).

Revolut wont let me trade in their app, as they dont accept trading for residents of Paraguay. So my solution is to transfer the money to a paraguayan bank or an international bank (which accepts residents of Paraguay), and buy stocks from there. So my question is:
which bank is the best net bank for stock trading in Paraguay or for Paraguayan residents (international bank) ?

Cheers

Open a company in Panama or BVI with bank account and open a brokerage account elsewhere with your offshore company

 

[Cetme308win]

Which one accept Paraguayan citizens?

Look at the link in my signature (I don't wanna promote anything but lol they accept nationalities and companies even from high risk countries)

 

[honor]

You’re right.. No tax on investments outside as long as you already payed taxes here.
I was talking about the US taxes , the 30% withholding on dividends.

I see, thanks.

 

[jjrapy]

I

Look at the link in my signature (I don't wanna promote anything but lol they accept nationalities and companies even from high risk countries)

I’ll give it a look

 

[Cetme308win]

You’re right.. No tax on investments outside as long as you already payed taxes here.
I was talking about the US taxes , the 30% withholding on dividends.

Why not incorporating a company in a jurisdiction whith a tax treaty with the USA for avoiding the 30% tax?

 

[Cetme308win]

I

I’ll give it a look

okay.... They are working for me and my Seychelles setup so

 

[honor]

Look at the link in my signature (I don't wanna promote anything but lol they accept nationalities and companies even from high risk countries)

Thanks but I would be wary of the many new fintech investment companies that pop up every month, especially the UK, where a lot of scams are based. Believe me I know from personal experience. Stick with large, well-established firms like IB. Also, jjrapy, I have been informed by knowledgeable people that PY frowns on anything offshore/tax haven. It's an immediate red flag to tax authorities there.

 

[Cetme308win]

Thanks but I would be wary of the many new fintech investment companies that pop up every month, especially the UK, where a lot of scams are based. Believe me I know from personal experience. Stick with large, well-established firms like IB. Also, jjrapy, I have been informed by knowledgeable people that PY frowns on anything offshore/tax haven. It's an immediate red flag to tax authorities there.

These guys are actually reputable since are in business for a long time.... They have a brokerage license in UK,HK,Cyprus and Malta so no bad

 

[jjrapy]

Thanks but I would be wary of the many new fintech investment companies that pop up every month, especially the UK, where a lot of scams are based. Believe me I know from personal experience. Stick with large, well-established firms like IB. Also, jjrapy, I have been informed by knowledgeable people that PY frowns on anything offshore/tax haven. It's an immediate red flag to tax authorities there.

Yes, the new law is getting heavy and tighten some things that were advantageous before.

 

[Cetme308win]

Yes, the new law is getting heavy and tighten some things that were advantageous before.

probably they don't care so much of expats owning offshore companies