- April 15, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Moving to Another EU Country: Financial Planning
Hey all,
I’m a 21-year-old living in the Netherlands who wants to move to another EU country within the next 18-24 months. I am looking to invest 50k EUR into VWCE and contribute 1.5-2k monthly after that. My goal is to manage my investments in a way that allows me to easily update my country of residence and address without encountering significant challenges each time I relocate.
### Choosing the Right Investment Platform
I have come across recommendations for Degiro and InteractiveBrokers as potential platforms for managing my investments. Considering that my investment strategy entails holding VWCE for the long term (20-30 years) and potentially relocating between countries such as the Netherlands, Germany, Austria, and France, which of these platforms would be more suitable for my needs?
### Setting Up with InteractiveBrokers
Furthermore, while InteractiveBrokers seems like a comprehensive option, I am unsure about the steps involved in signing up for their services. What documentation will I need to gather and prepare in order to open and manage accounts effectively?
### How AI Legalese Decoder Can Help
Navigating the legal and financial requirements associated with investing and banking in multiple EU countries can be complex and time-consuming. AI Legalese Decoder can assist in simplifying the language of legal documents, ensuring that you fully understand the terms and conditions when setting up accounts with platforms like InteractiveBrokers. By leveraging AI technology, you can streamline the process of managing your investments across different countries, allowing for a seamless transition between locations.
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****** just grabbed a
XTB
IBKR
You can do that, but it surely is much easier to setup an IBKR account than to learn how to file taxes for your ETFs in each country. I can tell you for Austria: 90% of the users in the reddit finanzenat sub don’t want to do that after they know how to file it- and I mean permanent residents / Austrians.
I think it might bring you more headache to file taxes yourself than to move your shares to a new broker in the country you are moving to each time you move.
Unless of course you plan on paying for a tax attorney anyway.
Trade republic and IBKR for me
Degiro
It’s kind of irrelevant.. people will say This one! That one.. but.. they are kind of the same…
IBKR with tiered pricing is good. i only pay 1.26€ per trade and it is the biggest out there, it is regulated by usa, canada, germany, all the top tier ones. the company itself is even listed on the stock market so there’s no way it is ever going to close. idk if these other ones will still be here in 20 years, plus when they begin maybe they don’t charge a fee but they must make money somewhere, and 1.25€ per trade is almost nothing
If you are in the Netherlands check the NT funds that avoid the dividend leakage.
Trade Republic doesn’t allow you to change your country/tax country. You also can’t close it and then open a new one in a different country.
Wouldn’t advise TR if you plan to change countries.
Noticed that no one has mentioned Trading 212.. are there shortcomings of it that I’m unaware of? (Just started using it, new to investment world)
For a savings plan, I use trade republic (Dutch person living and working in Germany) to save for my kids. For myself I use degiro.
Do you intend to stay in another country long enough to pay taxes there?
If so, it can be easier to get a broker that reports directly to that country tax system.
Trade republic with cheaper fee. On Saving plan there is no fee. If you need invite, msg me.
It wouldn’t really matter that much. Just choose the cheapest one in your country that gives you access to the actual exchange. I use Trading 212 and IBKR.
XTB now has an automatic contribution program
IBKR