For some reason after qualifying as AI, a new account is opened, and it is managed from US. So if I were to do a withdrawal to a local bank, it has to be to a US bank. To send to Singapore or Malaysia, it will be via international wire transfer. I am finding out what TDA SG's role is now. Anyway, since this is IBKR thread, I won't prolong this subject.

If MY residents end up with IBKR US account, then no point for me to transfer to IBKR. Will investigate this. Thanks.

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This post has been edited by Medufsaid: Nov 17 2023, 12:46 PM

You can ibkr Ireland instead. No inheritance tax in Ireland.
https://www.interactivebrokers.ie/en/accounts/broker-ie.php

IBKR SG is only for Singaporeesns.

I don't think moving to IBKR Ireland will change your domicile.

You are still a Malaysian with a permanent address in Malaysia.

One way to avoid this is invest via UCITS (which are domiciled in Ireland).

Ireland got simpler taxes Vs us law. You want somewhere where it's simple. There's a reason Ireland is a tax heaven.

I am not the right person to talk about taxes. Lol.

This post has been edited by Ramjade: Nov 17 2023, 01:14 PM

Yea, I know but the tax treaty applies to persons or institutions domiciled in Ireland.

For Malaysian individuals, you are still domiciled in Malaysia. IBKR won't report to US or Irish authorities that you are Irish-domiciled.

The way to get around this is via Irish-domiciled UCITS or, for rich people, set up your own trust accounts in Ireland.

What about opening HSBC bank account in the US, transfer to the Singapore HSBC and you can decide whether want to move the money back to Malaysia HSBC?

since this is an IBKR thread, what if he ACH the funds (assuming it's not funds that is needed in an emergency in the near future) from a us bank account into IBKR, and then only withdraw it to a singapore bank account at least 3-5 years down the line?

won't be flagged for "using IBKR to forex" yea?

the stock positions (except for fractional units), he can directly transfer to IBKR without liquidating

This post has been edited by Medufsaid: Nov 17 2023, 04:19 PM

I just noticed that I have got dividend in cash, although I'm enrolled to DRIP. There is no DRIP for us outside of the US?

This method will be flag? I did wire some fund from US bank account to IBKR, and intended to withdraw it to a Singapore bank account should I want to spend some money there.

i read in this thread that quick turnaround will trigger their alarm. so if 3-5 years, should be ok?

This post has been edited by Medufsaid: Nov 17 2023, 04:33 PM

As long as you generate money for them. Don't use it purely for converting money.

If want to convert money, better to use Forex brokers.

Thanks. My only concern is if something happens to me and my beneficiaries face issues accessing the money. Since we have established that both TDA and IBKR are US based for Malaysians, no point switching. I suppose I will have to repatriate the monies back to Malaysia (in USD) if I get diagnosed with some critical illness, so as not to trouble my family and to avoid inheritance tax. Until then, just keep trading.

If run over by a bus, then sorry la. 😄

How do we ensure that the account created is on US based IBKR and not SG/AU etc ?

Medufsaid answered your question here: https://forum.lowyat.net/index.php?showtopi...ost&p=108327043

Check the statements and see if it is IBKR LLC.

Anyone enable this "Stock Yield Enhancement Program" ?

Stock Yield Enhancement Program
Settings
Stock Yield Enhancement Program
Configure Your Stock Yield Enhancement Program

The Interactive Brokers Stock Yield Enhancement Program helps you generate extra income and may increase total returns. Program participants receive 50% of a market-based rate when lending their fully paid securities to IBKR. You can sell your shares at any time without any restriction and may terminate your participation at any time for any reason.


https://ndcdyn.interactivebrokers.com/Unive...iew?formdb=4215

In the event that the holder of a security borrowed from you is entitled to
elect the type of distribution to be received from two or more alternatives, you shall be entitled to make
such election by timely notification to IB. However, you will receive substitute payments (e.g., a cash
substitute payment) in lieu of receiving dividends or other types of distributions directly from the issuer.
Certain unique distributions may not be capable of being exactly replicated as a manufactured payment by
IB. For example, cash payments in lieu of dividends may not be afforded the same treatment as qualified
dividends for tax purposes and are likely to be taxed at a higher tax rate for U.S. taxpayers instead of the
preferential qualified dividend rate.

I wonder if this will change the withholding tax for us.

This post has been edited by GregPG01: Nov 18 2023, 12:20 PM

Yes. Usually earn peanuts (few cents) unless it's short illiquid stocks.

Just wondering/asking, you guys use driving license or IC to register? Usually take how long…… not scare giving out IC?

This post has been edited by evangelion: Nov 18 2023, 10:29 PM

evangelion wat's your concern? Even if u use rakuten, they still require IC. Guess what, rakuten uses ibkr to trade your us stocks

i will be, if i have 8 or 9 digit assets