Unsure of the benefits of a U.S. brokerage account? Use a free interactive form (Profile-Financial.com/interactive) to learn why it may be helpful to keep some of your investments in America even though you live in Israel.
One of the most common financial problems Americans living in Israel face is when their U.S. investment company closes their account because of their Israeli address.
There is no legal reason why you can’t have an Israeli address on American brokerage and IRA accounts. In fact, while some investment companies balk at your foreign address, others have no problem. As a licensed financial professional, I specialize in helping people who live outside the United States keep their dollar investments held in America.
This issue can affect you even if you don’t have an American investment account
Often, clients initially call my office when they receive an inheritance from a family member in America. American brokerage houses are used to domestic business, but dealing with foreign addresses often proves difficult for them. Other than the time difference, there’s often a difference in culture. Most American financial advisors don’t have foreign clients and aren’t familiar with the basics of cross-border investing, dual tax codes, and international retirement planning. I’ve even seen cases where foreign clients are given incorrect forms, which can create all sorts of problems. For example, American citizens living abroad should sign a W-9 form, not a W-8BEN, even if they have a foreign address.
What forms are needed?
As a cross-border financial professional who specializes in helping people living in Israel with American brokerage accounts, I recognize the need for easy-to-understand information on how to manage U.S. investments from Israel. I created an interactive tool to clarify the forms you need to sign when opening an account and which investments you can buy.
The interactive form takes less than five minutes to fill out, and can save hours down the line: Try it here, www.Profile-Financial.com/interactive.
Call (02) 624-2788 if you have any questions about managing a U.S. investment account from Israel.
Douglas Goldstein, CFP®️ is the director of Profile Investment Services, Ltd. www.Profile-Financial.com He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for a consultation on how to set up your American assets to meet your financial goals. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates. Neither PRG nor its affiliates give tax or legal advice.
Published August 16, 2016. Updated November 2019. Updated April 2022