Ah, in case you haven’t read through that one yet:
https://www.bogleheads.org/wiki/Nonresident_alien_investors_and_Ireland_domiciled_ETFs
Are there any local banks here that allow foreigners to buy US funds for a decent rate? I looked into it many years ago and I heard Fubon will allow it but there was a 1.5% commission fee or something like it to buy if I remember correctly which seemed quite steep. But it would be a lot simpler in my case than having accounts where I don’t live
This is very interesting for me. Is VFV.TO the only Canadian stock/ETF you have tried this with? Some Canadian dividend stocks have decent dividends, and are relatively stable long term. If only 15% gets taken at source for Taiwan tax residents, it means a 4% dividend (which many Canadian dividend stocks have this rate, some higher) becomes a 3.4% dividend, which is not bad. This is versus a 30% taken at source that becomes a sad 2.8% dividend.
As someone who currently has Canadian residency, but will likely lose it after our first full year in Taiwan, this is important information for me. Any further information you might have would be appreciated.
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Standard chartered - I negotiated down to 0.6% to buy, 0.6% to sell, 0.2% each year for first 2 years
Or open a “fu wei tuo” account - I think it’s only 0.2% to buy, 0.2% to sell. All banks have this but not all nationalities are allowed.
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I tried it on UBIL.U.TO which is USD denominated that buys US treasuries, and the dividend withholding rate is also 15%. I haven’t tried it on US stocks from a Canadian brokerage - I’ll try that next, but it should be 30% withholding.
I was looking at the Taiwan-Canada tax treaty, and apparently interest is taxed (withheld) at an even lower rate, 10%. I wonder if that would include Canadian GICs (our version of CDs), which have returns that are currently between 4-5%? It is interesting for sure.
I have most of my money in XUU, a Canadian domiciled S&P 500 index ETF. So all of this is good news.
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I’m testing out QQQ from a Canadian brokerage. Ex date is July 20, payout date July 31. I’m expecting 30% withholding.
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Thanks jimbob
Only for US residents & citizens. 
It seems Canada has a tax treaty with most countries including all the low tax ones like Hong Kong, Singapore, UAE, etc, down to 15% dividend tax rate. I think you have to use a Canadian brokerage that allows you to fill out tax treaty on NR301 (+W8BEN). If you use a US brokerage that invests in Canadian funds, they might only allow you to fill in W8BEN so you won’t get treaty benefits. Also no US estate taxes for CA domiciled funds.
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And banks all around the world, and non-U.S. citizens who are asked to fill out FATCA forms, etc.
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I am Canadian and I invest through the Canadian brokerage RBC Direct Investing. So I should be good on that end. However. I am currently still a Canadian Tax resident, so it will be interesting to see how the transition to non-resident works.
I spoke to them previously about this, and they said it wasn’t a problem. There were some strange rules though, if I recall correctly I could still purchase stocks, bonds, and ETFs, but they said I could no longer buy Canadian mutual funds. There were some other points, but I will have to call them again to clarify at some point.
I’ve not been asked to fill out any facta form.
When it comes to purchasing stocks, mutual funds, RRSPs, TFSAs etc., I would recommend non-activity with your Canuckistan accounts if you become a non resident!
That’s the advice I got from a very good accountant that handled my extended family’s US stuff/real estate, but also my international stuff over the years.
I’m a non resident and have dormant Canadian accounts that have money/card but are not active. But the more activity you have and that you continue to be active on, the more they could consider you a resident, even based on your secondary ties. I have no real estate, no health insurance, no club or organization ties, no drivers license, got declared a non resident through an NR73 application, live 183 days outside of Canada for years, but still hold a bank account. We recently cashed our RRSPs (with substantial withholding tax) as we’ll never be returning, but only invest in Europe. Basically my only tie is a bank card or two. At some point in the future (after I reach 55), we’ll have relatively small pension benefits from Canada through civil service work and CPP payments, so thank god for double taxation/pension arrangements, which for the US and UK, are especially beneficial with no withholding (will still need to declare in resident country as additional income though and I’m in the highest bracket 
)
If you’re planning to leave Canada, my advice is to not invest in stocks through Canadian brokerages/banks, depending on how many ties you have. It just gives Revenue Canada an additional thing to consider should things ever go sideways.
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Thanks for the advice. For us, there are currently advantages to being considered tax residents of Canada (child benefit for one). Even if we are not residents, and withdraw from our RRSPs early, we will likely still file tax returns with Canada to get money back from the withholding tax. Our incomes are low enough it doesn’t really matter if we are tax residents of Canada.
I think if you invoke a tax treaty and you’re a tax resident of the other country, legally Revenue Canada cannot claim that you are a tax resident of Canada (there’s some details like tie breaker provisions to figure out where you’re a tax resident if you have multiple tax residencies)
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Any issues withdrawing money from IBKR to Taiwan? Or is the problem wiring it over there?
I’m open to other suggestions too. Probably invest around 1 million NTD annually (I’d rather invest in property in Taiwan towards my primary residence but seems like that’ll be too complicated).
I’ll probably only invest in ETFs or bonds if that matters and I am not a US citizen. I’d even be open to buying only the TWSE index or something similar if that’ll make it simpler.
Neither?
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That makes it simpler in that you can open an account with a local brokerage. No expensive international wire transfers and no losses due to FX buy/sell spreads.
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Yes that’s what I meant. I read some posts that said sometimes their international wires didn’t got through sometimes and they had to waste hours upon hours to convince the Taiwanese bank it’s all above board.
Which local brokerage do you suggest?