How do I invest in the stock market if I am in Mexico?
Let’s start with the practicalities; first find an online broker that can accept you.
In other words, one that can accept you being in Mexico. You don’t have to just focus on Mexican or American brokers.
In fact as an expat, it is often best to focus on third country brokers, that specialise in portable solutions for expats.
Also remember to factor in:
- Are you American? If so, it isn’t easy anymore to invest as an expat American. It is very possible but more complicated than for other nationalities.
- Do you want an advisor or too DIY? Vanguard and other firms have done studies that have shown that advisors can deliver superior returns.
- How much you have to invest and for how long - this will affect how much risk you should take.
- What you want to achieve by investing - for example retirement or another goal.
These things will affect which brokers you will want to pick. The biggest mistakes people make is focusing on an overly local or home country solution.
Many countries now have a “ties test” when it comes to taxes. Take the UK as an expat.
It used to be that if you spent less than 90 days in the UK, you are automatically considered tax non-resident.
Now, there is a sliding scale from 9 to 90 days. In other words the more ties you have (property, business and yes pensions) you could be considered tax resident.
Get in touch today concerning expat-specialised solutions -
Are you an expat? Pained by financial indecision? Reach out today - expat wealth management specialist
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