I recently arrived in Japan with a 5 year HSP visa and am currently researching/planning iDeCo/NISA investments.
I'm not American in case that's relevant. (German)
Background to my question:
- Before coming to Japan I held ETFs, but had to sell them on short notice now (after moving to Japan) b/c the German broker I used requires customers to reside in Germany (maybe cold have moved the ETFs to IBKR but seemed like a hassle, so I "cashed out")
- Being in my first year in Japan, I pay very low taxes
- As a personal preference, I think NISA (investing in some Japanese global index fund into the つみたて枠) as a very hands off option (set up monthly payment and "forget") fits me well
but …
Question:
- having sold my ETFs I have a large sum of extra income that will be now taxed in Japan if I understand correctly
- Would it be possible to set up iDeCo and invest an equivalent sum (or the iDeCo limit) to reduce my income for this year?
thanks in advance for any help 🙂
by FairMair