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Oxx

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Posts posted by Oxx

  1. There is no need for offshore banking, and in many cases it can be a hindrance.  (For example, some brokerages won't accept transfers from an offshore account.  Plus offshore banks have a habit of closing down, making it a race to find a new home for your cash.)  So, definitely keep your UK bank account and use that.  Interest rates are so low at the moment that it's unlikely that you'll pay any tax anyway, unless you are as rich as Croesus.

     

    I would say, open a second UK bank account as a backup in case your bank suspects you're offshore and closes your account.

     

    It's unclear whether you're referring to cash ISAs or stocks & shares ISAs.  If you're cashing in because you need the money to start up in Thailand, then sobeit.  Otherwise, keep the ISAs and take income from them.  If you invest in funds, you will probably want to keep a UK account for them.  The range of funds that will be available to you offshore will be extremely limited, and you won't be able to open a new UK brokerage account.

     

    If you want to make additional investments you could open an account with an offshore broker such as Interactive Brokers, Swissquote, &c..  Your investments, however, would probably be limited to stockmarket-listed investments (shares, ETFs, investment trusts).  (Swissquote has a limited range of, in my opinion poor, funds available, with relatively high charges compared with the UK.)

     

     

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  2. From LEXiTRON, for ซาว:


    เอาข้าวสารล้างน้ำด้วยวิธีใช้มือคนให้ทั่วเพื่อให้สะอาดก่อนหุงต้ม เรียกว่า ซาวข้าว

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  3. 1 minute ago, ubonjoe said:

    Maybe the system crashed due to so many people trying to do it after reading this topic

    However, if it worked the first time people wouldn't repeatedly be trying to enter the same information in a vain attempt to register.  It could well be this that is overloading the system, perhaps helped by a ludicrously difficult captcha system, requiring multiple attempts to try and get it right.

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  4. 47 minutes ago, Orac said:


    With the mention of IHT It might be worth looking at a non-US based broker as well such as Swissquote. 
     

    Though obviously not a major concern with your daughter there are some anomalies on IHT regarding people who are not us resident or domiciled where, US based brokers cannot release funds until estate tax is paid on any US stocks and US based funds over USD.60,000.

    (1) Swissquote (in part formerly Internaxx) continues to charge custody fees, making it relatively expensive.

     

    (2) It doesn't make sense in any case holding US dividend paying stocks/ETFs given the non-resident withholding tax.

     

    (3) In practical terms, mutual funds are not available through the likes of IBKR for foreigners.  (A tiny range is available if you're prepared to leap through hoops, and only with one fund provider.)

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  5. 12 hours ago, persimmon said:

    I was hoping to invest in a low cost world ETF , they seem to be the best option . I had the idea that using one of the big banks might be safer than a smaller broker .

    "Low cost".  Forgive my uncontrollable fits of laughter.  No such thing as "low cost" when it comes to investments here.  Take, for example, K Global Equity Passive from Kasikorn Asset Management.  It invests in iShares MSCI ACWI ETF.  The management fee is 0.32%, and there's a 0.1% brokerage fee.  This is on top of the iShares expenses at 0.32%.  

     

    Buy offshore, and it's half the fees.  However, you do have the issue of foreign exchange if you wish to bring dividends or sale proceeds onshore.

     

    Some of the smaller brokers, as you put it, are far larger than the bank's asset management arms (or even the banks).  Several are arms of vast, international operations.  I wouldn't have a concern going for one of these.

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