Dear Community ans Staff,
I am considering to start investing via Trading 212. However, in four months, I will move to US and stay there for a period that goes from 2 to 4 years. I will move my residence to US as well.
My intention is to start using the investing part of the app. If I start investing with Trading 212, can I keep doing so in US ? Will there be any change after I move?
Many thanks to everybody
Matteo
The problem is that by residing in the US you become a “US person” subject to US tax and reporting under US FATCA (Financial Accounts Taxation Compliance Act). Many non-US financial institutions consider FATCA reporting too onerous and prefer simply to terminate doing business with US persons. The legislators in Congress in attempts to catch Fat Cats have made international banking and financial services very difficult for “US persons.” This is particularly harsh on US citizens living outside the US, since they are also often refused banking by US banks, who prefer customers to be on shore.
