What should you do to your brokerage account when you have to leave the country?
Jan 9, 2021
8 Comments
Assuming an h1b loses his job and can’t find anything within 60 days, in that situation what is the best advice regd brokerage account if the individual has lot of money in Stocks in a US based brokerage account?
Selling is not a good decision. But in the home country like India there is no branch of Vanguard, Fidelity etc.
#workvisa #h1b #investing
comments
In addition, you'll owe taxes to your residence country.
If both countries have a tax treaty, then you will get credit for taxes you paid in one country. A CPA will be able to help.
Additionally, some countries may give you a period during which you can move money tax free. For example, if you are moving back, India let's you repatriate your money back over 2 years tax free. After that it's taxed.
You still own the stock. Being outside the country doesn't mean you relinquish ownership. Everything is online now. Why do you physically need to enter to access those stocks? I have never set foot in a Fidelity office yet :)