Seeking Guidance on Sharesies Account Management

Hi everyone,

I hope this message finds you well. I want to share my current situation and seek your advice regarding my Sharesies account.

My Background: Time in New Zealand

I’ve spent the last 23 months living and working in beautiful New Zealand. During my time here, I made an investment by purchasing shares in an S&P ETF (specifically VOO) through the Sharesies platform. As my journey in New Zealand comes closer to the end, I find myself needing to make some critical decisions regarding my investment as my visa is set to expire next month.

Tax Considerations and Home Country

To provide some context, I hail from Chile, which is recognized as an OECD country. This status is pertinent because Chile has a tax treaty with New Zealand, helping facilitate certain tax obligations for expatriates like myself. Understanding these nuances is important as I navigate the upcoming changes in my residency status.

Banking and Investment Operations

I recently learned that, concerning my ANZ bank account, there are no obstacles to managing my banking affairs overseas. However, I’m in a bit of a quandary when it comes to my Sharesies account. The lack of clarity in their policies for non-New Zealand residents is somewhat concerning.

I am currently trying to ascertain what steps I should take to either maintain, transfer, or manage my investments effectively while residing outside of New Zealand. I want to ensure that I stay compliant with both New Zealand and Chilean regulations.

Future Plans: Potential Return to New Zealand

It’s worth noting that my career with a transnational company opens the door for me to return to New Zealand. There’s a strong possibility that I could be relocated back for another period of two years. This future prospect further complicates my decision on how best to handle my Sharesies account.

Questions on Sharesies Operations

Given my impending move, I have a pressing question: Can I continue to engage with my Sharesies account as a non-New Zealand resident while living abroad? The FAQ section on Sharesies provides insights on the status of New Zealand residents and citizens who are living outside the country, but it offers little guidance for those of us who are not New Zealand residents.

Seeking Advice and Expertise

I’d greatly appreciate any insights or shared experiences from anyone who has navigated a similar situation. Your input could be invaluable as I faced this challenge.

I also have a meeting scheduled with a tax lawyer in 9 days to discuss my situation further. However, reaching out to this community seems like a proactive approach while I wait for that appointment. I plan to keep everyone updated on the advice I receive and the decisions I ultimately make.

How AI Legalese Decoder Can Assist

In addition to community input, I consider utilizing tools like the AI Legalese Decoder. This resource can help clarify complex legal jargon and break down tax implications or investment guidelines associated with Sharesies, especially for someone in my situation who is trying to untangle the legalities of being a non-resident investor. If this tool can demystify intricate legal language and regulations, it may provide clarity and confidence in making informed decisions regarding my investment strategy.

Cheers!

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