How to buy FANG stocks if you are living in India
Hi Folks, I am an Indian citizen residing in India. I figured out that I can't invest in Amazon(AMZN) shares because the company isn't listed in local stock markets. Is there any workaround? Amazon has provided me with RSU, can I somehow buy additional stocks using that account (Morgan S). I tried to buy through some authorised agencies, but there will be huge tax deduction by government of India (I think 30%). Edit: Trolls are welcome iff they give some useful information first. Thanks. TC 44 LPA INR #investments #personalfinance #faang #fang #RSU #stock #share #amazon #google #apple #facebook
You mean bye?! 😁
by->buy
I don't know about using your Mother Stanley account to buy US stocks but there are other ways to do so. One is to use a service like Vested to do so under the 250K USD limit. The issues I saw are - one has to go to bank to submit the transfer (some banks used to pick up forms from home), and the per transfer fee is 2-3K INR. So, it makes sense if you want to invest a good chunk of money (talking about a few lakh).
You can invest through hdfc global investing. Check that out
Their charges are quite high though 😐
You can also try global mutual funds which invest in foreign companies. For say: parag parikh mutual funds
True. Another option is to look at funds like Motilal Oswal Nasdaq 100 FOF or S&P500. The only thing with these options is you can't just invest in the companies you like. You also end up investing in other companies in the mutual fund portfolio.
You mentioned FANG stocks.. NASDAQ 100 FOF I mentioned is tech heavy (or is it tech only?). It may be easy to invest in. The tax implications are also okay if you invest for long term (say atleast 3 years, recommended 7 years)
YOE?
Interactive Brokers (biased opinion :p)
I heard it’s the best option so far if one needs to do it from India.
I heard it's the best outside US. Not a user myself, second hand information.
What about tax.. do you pay tax on both countries when you cash out?
No. Fill W8-BEN form which would ensure that you don't pay taxes in both US and India (look for DTAA).
Open a stock account with a reputable broker like TD Ameritrade (process is simple and online). Fill W8-BEN form which would ensure that you don't pay taxes in both US and India (look for DTAA). Choose a bank which gives you a good transfer rate for you to fund that account in USD by transferring INR via a wire transfer (sometimes called a telegraphic transfer - TT). You would need to fill and submit to the bank a wire transfer form (A2 form) along with a self declaration for LRS (Liberalised Remittance Scheme under which this investment of upto 250K USD per year is permitted) and an indemnity declaration (ask your bank about these). Once the USD reaches your stock account you are free to trade equity (dealing in derivatives - options, futures etc. and leveraged instruments is illegal under FEMA act). Happy trading :)
You call 30% tax implication huge?