How do non-US citizens invest in the US stock market? Not just eTFs, but stocks overall as well?
I can easily invest in the US stock market because I am a citizen of the US and have banking and investment accounts. But I am not sure where to direct my friends from Asia, South America, or Eastern Europe who want to invest in US stocks and exchange-traded funds (ETFs).
Thus, how can one invest in the US stock market if they are not a resident of the US or if they do not have US-based investment accounts, banking accounts, or residence?
Every other day, I travel my private aircraft from Zurich to the New York Stock Exchange (NYSE). Once there, I just ask a stranger on Wall Street if they prefer gold or Swiss francs, and I have them invest my granny’s money in Intel stock.
You need to find a US broker that accepts international clients, specifically from your country. I live in the Middle East and opened an account with TD Ameritrade when they still accepted clients from my country. Since Schwab acquired them, they no longer accept clients from my country, but they do still accept clients from other regions.
Alternatively, you can look for a local broker in your country that offers access to US equities.
That seems like a bold claim, considering I was born and live in Bahrain, which is part of the GCC. I use Schwab, and a few of my friends use IBKR, both are US brokers. A local broker is an option, as I mentioned, but you will need to be prepared for their high transaction fees.