In which countries T212 is available and what if moved abroad

[Francesco]

Hi guys, I tried to find a full list of countries where is possible to open an account with you but I found different ones that are not all the same. Could you direct me to the correct and up to date one? Thanks

And for the T212 Team, if I moved abroad to a country in which you are present, is there a need to make a new account or I can communicate to you my new country and address, sign maybe a different T&C agreement if needed and keep using the same account? (I’m talking about Invest and Trading accounts, not the ISA of course. And scenarios both inside and outside EEA).

Thanks all in advance for the answers

[Tony.V]

Hey @Francesco,

Our service is accessible worldwide, and you’ll be able to manage your account from every point of the world. You don’t need to create a new account, nor sign a new contract. Instead, you may reach our team, and we’ll update your residential address.

As of the list of the supported countries - there is quite a simple way to check this: go on our page, tap on the “Open account” button and select the country you’re interested in. You’ll see a notification in case the country is not supported by us.

[Francesco]

Thanks @Tony.V ! You gave me the best answer I could hope for!

[investor]

I noticed a Reddit thread earlier claiming T212 support has replied to them that changing country is not possible, and they have to reopen a new account.

r/trading212 - Traiding 212 country change

Is this a bogus claim or a misunderstanding?

[Tony.V]

@investor The short answer is: it depends, and of course that some exceptions may apply.
As an example: if a client plans to move to a country which we don’t support, then he’ll have to close his account.

It also matters if we’re referring to a permanent relocation (meaning that you’ll have to pay your taxes in the new country, which is changing our reporting towards the authorities) or just travelling.

In simple terms: if you move from an EU to EU country - there will be no problem at all. If you move from an EU to Non-EU country - then further documents might be required as the onboarding process differs in the different regions. The best approach here would be to reach us out, to provide us with more details about your plans and then we’ll let you know what the options are

[Darko]

Yes, you also have to check about about taxes (w8ben) if you receive dividends. For example, the USA and UK have a treaty so you have to pay 15% tax instead of 30%. If you move to Croatia (also EU), there is no double tax treaty with the USA so you will have to pay 30% (withholding) in the USA and 12% in Croatia.

I don’t know how it goes in real life , for example, you move to Croatia, and you keep quiet about it. You can be a tourist in Croatia, t212 doesn’t know that. Ip address is also not proof of anything because you can use a VPN. But, of course, the law should be obeyed.

[diegos]

I’m interested about the EU bits… How about UK -> EU? Is it allowed to update the residencial address and not having to close the account? And in case it is possible now, is that at risk depending on how Brexit continues to develop?

[Tony.V]

@diegos Yes, it is possible, and you don’t have to close your account.

[diegos]

So what happens if I have both Invest and ISA? Do I have to sell everything from my ISA and move the money to the invest account? (or even worse, do I have to close both invest and ISA??)

My understanding is that in general, once you’re not a UK tax resident you can keep your ISA but you’re not allowed to further contribute to it. It would be great if you could allow this.

[Tony.V]

@diegos You can keep the ISA, however, you can’t contribute further. See here.

[diegos]

Cool, that was my understanding. Thanks for clarifying!