I realise there was a similar post about this earlier in the year but it didn’t really scratch my particular itch.
Please see if you can help.
I am an ARC holder, UK citizen and working here in Taiwan for the foreseeable future. I want to invest in local ETFs.
It seems to be impossible. Every step of the way I am being told to call another number or no we don’t do that here etc. I have the feeling of being palmed off because dealing a foreigner is hassle they don’t want. I get that, but it is becoming genuinely annoying now.
Can anyone tell me how to do it? Or who with? A name? A branch?
Follow-up on this; I want it to be easy. I have a fubon account (and others).
Theoretically I can make lump sum payments of, for example, SPY. The Fubon app doesn’t let me, and says my risk preference isn’t right. I redo the risk assessment survey, and I get the desired level. I try to purchase again. It once again tells me my risk preference isn’t right for this purchase, showing me a much more conservative profile than the assessment I just did.
This sort of corresponds to what the person at Fubon suspected, which came down to “On paper, you can do this, but you’re a foreigner, and they’ll find a way to stop you.”
Am I doing something wrong with Fubon? Has anyway succeeded with this with any of the local banks?
The harmless explanation could be that it takes some days for the updated risk level to become effective. So try again on Monday and see if it works then.
In that time, though, you would probably already have opened an IBKR account, though…
I don’t think that’s the case: I’ve redone the assessment a couple of times, getting a “better” score, and then as soon as I try to buy anything, it reverts to a more conservative score that won’t let me buy anything.
Caveat: getting these all set up in the first place was a major bureaucratic pain; and then changing things over to the new APRC number a few years back was an additional pain that may have broken connections between accounts.