As somebody with decent funds to invest, how do I invest in US stocks?
Two main questions: which app is the best? And, does it make sense to do this (is taxation, taking out money etc. straightforward enough)?
Would help a lot, want to be invested in global companies that I believe in.
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It doesn't make any sense. Absolutely none.
you can invest only 250K USD a year. Any sale of investment have to be brought back to india. You cannot keep it in you r FC account.
20% TCS will have to be deducted even before you invest. Profits are taxable. Currency conversion will eat a bit of your profits. You will have to disclose all assets abroad in your ITR. not to mention, your CA will charge you higher, because you are rich.
After all this if you a re still able to make money, it means you are really rich. Really rich people do not invest in foreign stocks. They invest in foreign passport.
Wrong on 250K limit
You information is incorrect
- Monies parked in FC account cannot be held more than 180 days but you can sell your stock and keep the monies in brokerage account.
- Foreign passport is different agenda, we are discussing US stock investment . Aren't we?
- Currency conversion work both ways when you are get back the monies in INR you get the benefit. For country like India, investing aboard provides diversification as well as currency hedge & diversification.
- If you buying passport ,then you are spending the money and not investing per se.
- For TCS on LRS - you can offset it agianst your TDS and reduce monthly outflow.
IBKR through LRS
If investable surplus is higher than 250K USD, then look at ODI/OPI route.
Else.....LRS etc....
This is the agreement you sign when you sign up for vested. Don't invest heavily in any of those apps as they can run away with your money and you can't even file case against them
