I live in Russia. Can I use a dealer in the U.S.?
Hello. I had a little money (about $ 4 K) and I want to invest. Currently I keep a local bank and get about 5 percent per year interest rates. Inflation in my country is around 10 percent and rising, so now I'm going to lose. There are some banks that can give me 12 percent of long-term deposits, but does not work for me either. So now I'm looking for other ways to make my money for me. I wonder: What should I do to with the help of the United States (U.S. or the UK), a stockbroker? I would give my dollars to certain investment funds or try one of Forex Trading. I got a visa card and can create a PayPal account, if necessary. Another question: Can I pay my taxes on income and where (in Russia or the U.S.)? Thanks in advance.
Life in Russia will not disqualify you open a brokerage account abroad. There are some countries such as Burma, Nigeria, Iran and Syria, where he was not allowed to open an account abroad as governments have signed international issues such as money laundering. But Russia is beautiful, everything that can happen is that you will be asked for ID to prove who you are and where you live. The only issue I can think of is if Russia does not have exchange controls in place. You should be able to verify this with a bank if you do not know, but you should know before depositing the money. Technically pay money into an account U.S. broker take money out of Russia. It can be a problem of Russian legislation. You do not need a Visa or Paypal account. What to invest is (obviously) to you, but Forex trading sounds like a quick way to lose lots of money quickly. Especially if you are a new investor. A mutual fund (or funds in Europe OEIC) appears to be the smart choice. The tax is paid depends on the tax treaty between Russia and the countries hosting your account. To give an example, I am a UK citizen with an account with TD Ameritrade in the United States. They refuse to part of my dividend payments to tax authorities in the U.S. and I'm also responsible for certain taxes in the UK. You might be in similar conditions.
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