this post was submitted on 08 Jan 2024
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US Securities Act of 1933, [US] Person living in [CH] (feddit.ch)
submitted 10 months ago by johnyrocket@feddit.ch to c/personalfinance@lemmy.ml
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I just came here to say fuck the US Securities Act of 1933. I am sure it must have some very important reason for existing, but at the moment it is preventing me from doing anything reasonable with my money.

In all seriousness, though, does any US Person who has lived abroad somewhat long term have any experience doing money business in the country of residence?

Specifically, I am trying to put some money (15K) aside for further education in about 7–10 years, and I am looking for an option to at least keep inflation at bay. Every option I look at from a Swiss bank has a clause in the fine print, blaming the US Securities Act of 1933 for not allowing any US Persons to even look at or distribute the document. Archive.org

Is my only option to invest in American banks? I just worry that it will complicate Taxes to a painful degree. I would appreciate any hints in the right direction

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[–] yo_scottie_oh@lemmy.ml 4 points 10 months ago (1 children)

Hopefully someone with real world experience can chime in, but until then, a quick search for "how to invest as a US citizen living abroad" surfaced a few articles on the subject.

  • Nicole Dieker suggests opening a high yield savings account to bridge the gap until you can find a more permanent solution.
  • Arthur Chachuna suggests looking into Zackstrade (US based) or DEGIRO (European based) as potential expats-friendly brokerage firms.
[–] johnyrocket@feddit.ch 2 points 10 months ago

Thanks! I will look into those. I don't know why I didn't try searching for that string myself 🤦