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Be wary of your investments -- the TAXMAN is watching

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  • I used these folks UOB kay hian singapore. Btw, it seems that GP site is even more broken -- I could not PM you.

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    • Shimokita: GP seems to be crashing and burning. I wrote: "...after getting the boot from TD, etc." Don't know why it booted "boot". Preview doesn't work for me either. Sounds like TD International is not opening new accounts for Japan residents: http://andrewhallam.com/2013/05/an-e...way-to-invest/ I got kicked out of my canadian online brokerage. Now looking for a new home. Thanks for the tip Grover. Were you able to open an account without a trip to Singapore?

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      • This site is crashing. Yes, I was able to do so without going there. I wish I could have timed a conference or trip, though. Since the site is f__d up, I will explain. They trade on many exchanges. I needed the TSX (Toronto exchange for something). They reply quickly. I believe you will have to pay any capital gains there. Anyway, this thread warns all about taxation, doesn't it? What will you need? Translated (English of course) utility bills that are current and showing your current address and name. Those will need to be notarized. Please do your best to ensure that passport name and utility bill names match. In a word, everything should match.You will need to send a notarized copies of your passport. You will need to sign a whole mess of their forms in front of a notary. DON'T make any errors. They will not accept anything that has a mistake. I made a tiny one and it was returned. Depending on your account(s), some fees will apply. The transfer from wherever your funds are now to Singapore could take time. Btw, now in Jersey/Guernsey they are required to report to their home bank, so there is no anonymity/safety there any more in the event of an audit. I think the new tax-free account here could be good if one can pick a good stock and trade it once.

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        • I see. Thanks for the info. Yes, I just recently learned that TD International Luxembourg will not provide services for residents of Japan. Not sure why but a few people I know have mentioned that it was "No go" for them with TD Intl. I think I'll be looking at Super Grover's recommendation or maybe even at DBS Vickers. Andrew Hallam's website, maintained by a Canadian author and teacher in Singapore, has a lot of information on this also.

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          • I am starting to look at Interactive Brokers Japan, but their site is about as messed up as GP. Not really clear to me what the differences are between IB US/CA and IB Japan. Based on your (Grover's) advice I'm declaring everything to the J-IRS so not worried about anonymity, but I am worried about having to convert my holdings to a different currency (YEN, SGD). Any advice?

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            • TD, formerly known as Internaxx is closing due to the Japanese tax dept. (NTA). With agreements between Canada and Japan, the Japanese side has insisted that TD maintain a Tokyo office to service clients in Japan, and then they (NTA) would have access to those client accounts. TD said it was not worth it. By refusing to open an office here, the Canadian head office was pressured by the NTA to refuse service to all clients in Japan. Whether or not all names were disclosed to the NTA, I do not know and never asked. When I wrote the "Taxman is watching," little did I realise just how much.

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              • No editing or anything on GP any longer. You can maintain your funds in a number of currencies. I have CAD there and Canadian stocks. JPY seems dicey to me. If the tapering in the US really takes hold and our govt.in Japan doesn't have its act together, the yen could devalue in a hurry due to bond troubles. The CAD is bound to be stable in spite of the terrible other policies of the Harper regime.

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                • Yes, the site is dying. Would like to stay int touch with some of you who are here. What is the new or next website for gaijin?

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