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SWISSMONEY Iban Accounts with Sepa

U.S. broker for foreigners? any recommendation?

#21
Xshore said:
etrade opens account with no minimum for some countries, but they currently doesn't disclose what countries so you'd have to ask them or send in a (paper) application.
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Yes, and they even do it with an ITIN only. For the non-US ones, I guess they open it for all those with FACTA reporting. This is owned by Morgan Stanley. Their compliance is hard.

- Ok you want to open an account. Where is your wealth from?
- I have been investing for 30 years and paid taxes on gains. See here.
- Yes, ask good. But where has the initial money from?
- You mean the 150k when I was 30?
- Yes. Those.

You can get an ITIN on fiverr and open the account. Just don't come cry when IRS matches your passport and reports to Germany.
 
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#23
daniels27 said:
Yes, and they even do it with an ITIN only. For the non-US ones, I guess they open it for all those with FACTA reporting. This is owned by Morgan Stanley. Their compliance is hard.

- Ok you want to open an account. Where is your wealth from?
- I have been investing for 30 years and paid taxes on gains. See here.
- Yes, ask good. But where has the initial money from?
- You mean the 150k when I was 30?
- Yes. Those.

You can get an ITIN on fiverr and open the account. Just don't come cry when IRS matches you passport and reports to Germany.
Click to expand...
Do you mean they require ITIN now? They didn't when I opened a few years ago, was probably 2018 or 2019. Also they didn't ask any complicated questions like that. But this was before Morgan Stanley bought them.

The great thing with etrade is that you get a dedicated account number in your name that can receive third party wires, ACH and everything without any "further credit to" etc.
 
#24
Xshore said:
Do you mean they require ITIN now? They didn't when I opened a few years ago, was probably 2018 or 2019. Also they didn't ask any complicated questions like that. But this was before Morgan Stanley bought them.

The great thing with etrade is that you get a dedicated account number in your name that can receive third party wires, ACH and everything without any "further credit to" etc.
Click to expand...
Yes, you need an ITIN for the normal US account when you open it online. For the non-US they won't but I don't expect them to open an account for anything where there is no reporting. It is Morgan Stanley, they are very, very careful and have zero interest in having accounts where tax evasion or money laundering happens. They know what fines it entails and they have seen Swiss banks to go down because of it.

The BS questions are from Morgan Stanley itself when you open a brokerage account with their 10M USD minimum. I don't expect them to ask those with etrade if you only put 50k. But they certainly will when you put over 1M USD.
 
#25
daniels27 said:
Yes, you need an ITIN for the normal US account when you open it online. For the non-US they won't but I don't expect them to open an account for anything where there is no reporting. It is Morgan Stanley, they are very, very careful and have zero interest in having accounts where tax evasion or money laundering happens. They know what fines it entails and they have seen Swiss banks to go down because of it.

The BS questions are from Morgan Stanley itself when you open a brokerage account with their 10M USD minimum. I don't expect them to ask those with etrade if you only put 50k. But they certainly will when you put over 1M USD.
Click to expand...
To apply as a non resident you have mail them the paper application.
 
#26
daniels27 said:
Yes, and they even do it with an ITIN only. For the non-US ones, I guess they open it for all those with FACTA reporting. This is owned by Morgan Stanley. Their compliance is hard.

- Ok you want to open an account. Where is your wealth from?
- I have been investing for 30 years and paid taxes on gains. See here.
- Yes, ask good. But where has the initial money from?
- You mean the 150k when I was 30?
- Yes. Those.

You can get an ITIN on fiverr and open the account. Just don't come cry when IRS matches you passport and reports to Germany.
Click to expand...
You need to provide your passport to get an ITIN.
 
#37
Clank said:
You need to open it online.
Click to expand...
Of course. But if you live in Asia the account will be opened with their Singapore branch.

EDIT: Maybe this is (no longer) the case, it appears that only Singapore address will be opened with the SG branch, while other asian countries will be opened directly with the US.
 
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#38
Xshore said:
Of course. But if you live in Asia the account will be opened with their Singapore branch.

EDIT: Maybe this is (no longer) the case, it appears that only Singapore address will be opened with the SG branch, while other asian countries will be opened directly with the US.
Click to expand...
In Asia is usually done in Schwab HK, and it's remote.
 
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