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Author Topic: Offshore broke4s  (Read 70055 times)

andre

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Re: Offshore broke4s
« Reply #15 on: September 28, 2018, 08:53:43 pm »
About a year ago I sent a mail to Just ONe Lap regarding this https://justonelap.com/community-post-buying-etfs-offshore/
Note that De Giro allows the first trade executed in an ETF of the "Free ETF Selection" free of charge (every calendar month) regardless of size of trade.
You can, however, have more than one free trade in a month as long as the trade is in the same direction (i.e. buy) and for more than 1000 EUR

I'm also still feeling my way around the pitfalls of direct offshore and still need to figure out the will issue - but from what I understand you do need a will in the domicile country of the broker - where your trading account is held?

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Exponentx

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Re: Offshore broke4s
« Reply #16 on: September 30, 2018, 05:54:07 pm »
Hi francismichael

I am in the same boat. I am a saffa based in Austria. Opened an Ireland (so its in english and to avoid BREXIT issues) based DeGiro Custody account. So far done one EUR1000 VWRL purchase which I am happy with.
I am however now nervous to increase my holdings due to estate issues.

@Patrick, I would be interested to know how you have set up a will in foreign countries. Do you use a South African based lawyer? And as francismichael mentions, do you need the will in the country of your DeGiro account or where the company is domiciled? Your input would be great :)

Thanks for the great blog and putting your thoughts out there, I enjoy following it!
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Exponentx

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Re: Offshore broke4s
« Reply #17 on: September 30, 2018, 06:25:15 pm »
Just read through this thread and seems to give some answers - thanks Patrick.
https://shareforum.co.za/shares/us-shares-for-those-with-ee-accounts/30/
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t_Rex

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Re: Offshore broke4s
« Reply #18 on: January 24, 2019, 11:34:10 pm »
Hi francismichael

How is the De Giro solution working out for you? I am also looking for a cost effective way to invest in foreign currency denominated ETF's on a monthly basis.

Is your Euro account local or offshore?
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Olive555

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Re: Offshore broke4s
« Reply #19 on: July 13, 2019, 02:30:24 pm »
Tried to open a Degiro account but they don't allow opening of accounts from SA.  Any other suggestions for a low fees offshore broker which opens accounts for SA residents?
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Patrick

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Re: Offshore broke4s
« Reply #20 on: July 14, 2019, 06:49:45 pm »
Interactive brokers, but you have to pay $10 a month until you reach $100 000.
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willemm

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Re: Offshore broke4s
« Reply #21 on: July 19, 2019, 02:46:41 pm »
For the guys with a IB account. I see you can actually deposit ZAR? Was that always an option? Wondering what the currency conversion would be - cannot find it on the IB site anywhere (so far..)
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willemm

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Re: Offshore broke4s
« Reply #22 on: July 20, 2019, 09:19:28 am »
Quote from: willemm on July 19, 2019, 02:46:41 pm
For the guys with a IB account. I see you can actually deposit ZAR? Was that always an option? Wondering what the currency conversion would be - cannot find it on the IB site anywhere (so far..)

still can't seem to find the exchange rates on IB if you deposit ZAR..
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MoneyChief

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Re: Offshore broke4s
« Reply #23 on: August 20, 2019, 03:41:41 pm »
With interactive brokers I see they can provide a debit card. Does anybody know if they will ship the card to SA?
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conradl

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Re: Offshore broke4s
« Reply #24 on: August 21, 2019, 06:30:16 am »
Hello MC. No, I tried getting access to the card its unfortunately only for US citizens (top of my head)
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MoneyChief

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Re: Offshore broke4s
« Reply #25 on: August 22, 2019, 10:53:32 am »
Thanks conradl, I found another company that might offer a card, https://transferwise.com/gb/borderless/card, looks quite promising.
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yozzi

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Re: Offshore broke4s
« Reply #26 on: January 14, 2020, 02:31:10 pm »
Quote from: MoneyChief on August 22, 2019, 10:53:32 am
Thanks conradl, I found another company that might offer a card, https://transferwise.com/gb/borderless/card, looks quite promising.

Is there any update on this thread who are the best money transfer companies with branches in SA? Looking to transfer a sizeable amount to the UK has anyone used any transfer companies lately that they would recommend?
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IndustryGuy

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Re: Offshore broke4s
« Reply #27 on: January 15, 2020, 12:59:30 pm »
Quote from: yozzi on January 14, 2020, 02:31:10 pm
Quote from: MoneyChief on August 22, 2019, 10:53:32 am
Thanks conradl, I found another company that might offer a card, https://transferwise.com/gb/borderless/card, looks quite promising.

Is there any update on this thread who are the best money transfer companies with branches in SA? Looking to transfer a sizeable amount to the UK has anyone used any transfer companies lately that they would recommend?
Hi Yozzi,

Do you mean you are looking for someone to handle the transfer of funds from SA to an already existing account in the UK? If that is all you are looking to do, try us at Rand Swiss. We already have about 20+ of you guys from this forum using us to handle your offshore transfers. Just send me a mail to [email protected] with any questions.
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gcr

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Re: Offshore broke4s
« Reply #28 on: January 16, 2020, 12:53:48 pm »
There are a number of options that one can follow - to date I have been advised that I could use Credo and then it is also possible to use Saxo through Standard Bank. What I have found is that charges are quite exorbitant, but I will follow up with Standard Bank

What I'm looking for is to externalise funds I London but then I also want to be able to use a company's platform to buy and sell shares as I do with my local broker. This seems like an almost impossible option, yet all local banks have London American and European operations and within these domains they must have trading platforms their retail customers
I am even contemplating flying to London with the express purpose of opening an account, depositing funds and gain a right to access that banks trading platform and then operating the buy/sell instruction over their platform back in RSA. However I need to do further research as I don't want to end up in London without having established all the attributes and pitfalls of establishing accounts and platforms
     
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Not everything that counts, can be counted, and, not everything that can be counted counts - Albert Einstein

IndustryGuy

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Re: Offshore broke4s
« Reply #29 on: January 16, 2020, 01:05:04 pm »
Hi GCR,

You can also open an offshore Saxo (now locally operating as DMA after Sasfin bought shares in the local operation) through us. If you are not happy with the rates Standard Bank are giving you, just let me know. With a DMA account you can easily download the platform and execute your own trades.
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