Hello. I'm a Japan permanent resident from Australia and I want to start some long term investing (with the option for US/Canadian stocks), but I don't know what I can legally use while living in Japan? I tried WeBull but it was confusing so I'm thinking to change to something else. Does anyone have any suggestions? Of course I'd prefer to use something based for example in Australia so it would be all in English, but since I live in Japan I don't know if that's possible.
by Yerazanq
3 comments
Dunno but be sure to read up & apply for a NISA account with the Security Investment company, so you can make use of the tax exemption of profits on invested amount of up to 3.6million each year. Major Japanese Security companies and banks offer it. All in Japanese but companies like SBI & Rakuten offer also US Stocks and local Mutual Trust Funds in S&P500 stocks etc.
>I don’t know what I can legally use while living in Japan?
You can legally use any Japanese brokerage, and all the major Japanese brokerages will sell you US stocks. Canadian stocks will be much harder to find, but you can buy Japanese mutual funds that hold Canadian stocks via most brokerages. And if you’re interested in long-term investing, mutual funds are probably more suited to your needs anyway.
>Of course I’d prefer to use something based for example in Australia so it would be all in English, but since I live in Japan I don’t know if that’s possible.
Australian brokerages will probably not be willing to service a Japanese resident due to concerns about not having an FSA license. But either way, it would be more tax efficient to invest via a Japanese brokerage.
Japanese brokerages give you access to NISA, designated (特定) accounts, and Japan’s tax treaty benefits. An Australian brokerage can’t provide you with any of those.
Go with a bank. Some platforms have such a day that you cannot make any meaningful decisions.