I am on H1b status and planning to open an brokerage account (Vanguard, Fidelity or Schwab). I’m going to mostly do long-termed investing like index fund, and my worst fear is what if I get laid off, lost my status, and had to close account and sell investment at a loss during market downturn? Especially during these times. I’m aware I can withdraw 401k outside of the US, so this is about normal brokerage account. Do I have to close my account if I lose status and have to move back? What is the best broker for people on visa (willing to at least maintain your account after you lose your status and allow you to sell and withdraw outside of the US)? TC: 125k
Naa, it would just stay as is. I moved to Canada and came back
did you come back after getting PR?
OP: Is there any monthly fees to open these new accounts??
Looked at Vanguard, Fidelity and Schwab. No
Account will remain, but if you are no longer a US tax resident, some of these (Vanguard, ETrade, etc.), will not let you invest (even auto invest will be stopped). This is mostly since taxation becomes tricky. You can always go with someone like Interactive Brokers and choose to take on the tax filing burden yourself.
My friend who has citizenship and move outside to US to live there. When he called Merill Edge and explain situation, they immediately close his account
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25F. Got laid off in March. I have 10 days left to stay in the US.
Nothing will happen