Cryptocurrency Q&A
How to invest if you live outside the US?
How to invest if you live outside the US?
alexander_rose_writer
Wed Dec 18 2024
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7 answers
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I'm interested in investing, but I live outside the US. What options are available for me to invest internationally, especially considering the legal and tax implications for non-US residents?
7 answers
Andrea
Fri Dec 20 2024
For U.S. citizens living abroad, understanding the interaction of U.S. and local tax obligations is crucial. They are required to file taxes with both the U.S. and the country they are residing in.
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Nicola
Fri Dec 20 2024
It's important for U.S. citizens living abroad to avoid passive foreign investment companies (PFICs). PFICs are foreign corporations that meet certain criteria, and owning them can result in complex tax reporting requirements.
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Martino
Fri Dec 20 2024
This dual taxation can be complex, and it's important for these citizens to consult with a tax professional to ensure they are meeting all obligations. Failure to do so can result in penalties and fines.
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DondaejiDelightful
Fri Dec 20 2024
Maintaining a U.S.-based investment account is another important strategy for U.S. citizens living abroad. This allows them to continue investing in the U.S. market while abroad.
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Nicola
Fri Dec 20 2024
Additionally, having a U.S.-based account can provide access to financial services and products that may not be available in their host country.
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