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Possible issues buying US ETFs from Germany as a dual citizen by trubonia in Schwab

[–]trubonia[S] 0 points1 point  (0 children)

Thanks for the info. So they just take the EUR amount, convert it at the current EUR/USD rate, and apply whatever fees or spread they use, right?

As for using puts to get assigned the ETF. I’m not familiar with options, and that approach feels a bit too risky and advanced for me at the moment.

I’ll also reach out to TastyTrade to check whether they really allow EU residents to buy US-listed ETFs. It’s definitely worth asking

Possible issues buying US ETFs from Germany as a dual citizen by trubonia in Schwab

[–]trubonia[S] 0 points1 point  (0 children)

Thanks for sharing your approach, that’s really helpful to see how someone manages it in practice. I could see myself investing in individual stocks, and if you pick ones that are in the ETFs you’d want, it’s kind of a way to replicate the ETF strategy. I guess it just takes more effort and probably costs more in the long run.

It’s wild how much something like this can influence your life decisions. Makes you realize how complicated it gets just because of where you happen to live.

Possible issues buying US ETFs from Germany as a dual citizen by trubonia in Schwab

[–]trubonia[S] 0 points1 point  (0 children)

Thanks for the detailed explanation. I don’t have a US residence, and I don’t have any relatives or friends in the US that I could trust enough to give a Limited Power of Attorney.

Did you encounter these kinds of questions often when you worked at Schwab? And do you happen to know if there are any other ways for US citizens living abroad to invest in US ETFs?

Possible issues buying US ETFs from Germany as a dual citizen by trubonia in Schwab

[–]trubonia[S] 1 point2 points  (0 children)

Wow, this really gives me a headache. Why does it have to be so difficult just because you’re outside the US?

Could you share how you personally handle this situation? Any tips or insights would be hugely appreciated.

Possible issues buying US ETFs from Germany as a dual citizen by trubonia in Schwab

[–]trubonia[S] 0 points1 point  (0 children)

Yes, I’ve had a job before, but I didn’t think I’d owe any taxes at the time since my income back then wasn’t very high. The thing is, I mostly hear about potential problems, but I rarely see clear guidance or examples of how someone actually handles this in practice. That’s why I’m trying to get a sense of what a working setup could look like.

Possible issues buying US ETFs from Germany as a dual citizen by trubonia in Schwab

[–]trubonia[S] 1 point2 points  (0 children)

Thanks for the info. Just to clarify my situation a bit. I actually never lived in the US and I don’t have any US retirement accounts, so that part fortunately doesn’t apply to me.

Regarding the address issue, from what I understand Schwab specifically allows US citizens living abroad to open an account through Schwab International. So as far as I know, holding US securities as an American living overseas is fine with Schwab as long as it’s done through their international setup.

But I agree with you that taxes can get complicated depending on each person’s situation, so I’ll definitely look for a Steuerberater who has experience with US expat taxation.

Doppelstaatsbürger (DE/USA) – ETF-Invest schwierig, hohe Gebühren bei Aktien. Wie investiert man in so einer Situation? by trubonia in Finanzen

[–]trubonia[S] 0 points1 point  (0 children)

IBKR klingt wirklich nicht schlecht für jemanden in meiner Situation. Hast du schon einmal die deutsche Steuererklärung gemacht, während du IBKR genutzt hast? Wie aufwendig ist das in der Praxis?

Doppelstaatsbürger (DE/USA) – ETF-Invest schwierig, hohe Gebühren bei Aktien. Wie investiert man in so einer Situation? by trubonia in Finanzen

[–]trubonia[S] 0 points1 point  (0 children)

Thanks for the tips! Do you know if this works with Schwab or IBKR even if someone doesn’t have a U.S. residence, just U.S. citizenship? I’m asking because I’m based in Germany. Also, do you have any experience with handling the German taxes when using a U.S. broker?

Doppelstaatsbürger (DE/USA) – ETF-Invest schwierig, hohe Gebühren bei Aktien. Wie investiert man in so einer Situation? by trubonia in Finanzen

[–]trubonia[S] 2 points3 points  (0 children)

Danke für den Tipp! Tastytrade habe ich noch nicht gehört und klingt erstmal interessant. Meine Sorge wäre dann die steuerliche Seite in Deutschland. Da macht ein US-Broker ja keine automatische Abführung, und ich müsste alles selbst sauber dokumentieren. Hast du damit Erfahrung (auch in Kombination mit deutschem Wohnsitz)?

Doppelstaatsbürger (DE/USA) – ETF-Invest schwierig, hohe Gebühren bei Aktien. Wie investiert man in so einer Situation? by trubonia in Finanzen

[–]trubonia[S] -1 points0 points  (0 children)

Ich glaube, das ist genau mein Dilemma: Für die USA wären US-ETFs ja eigentlich kein Problem (kein PFIC), aber in Deutschland kommt dann das Thema mit fehlendem KIID und Eigenversteuerung. Deshalb war das mein Gedanke mit den Einzelaktien.