As an European citizen living temporary in the USA on a VISA (US Person), choose Vanguard or Schwab?

Hello,

I understand that as long as I live in the US, I’m able to deposit and withdraw money to the account, regardless Vanguard or Schwab.

Now I target the following scenario.
The first year or two, (or maybe more), I want to build an ETF portfolio. Then I move back to Europe, and I want to withdraw the dividends and occasionally sell some of the assets. So I will no longer hold a valid VISA, nor a Social Security number, and live in Europe, while still keeping the US-based brokerage account open. And then every now and then transfer money to my European account (in EUR).

Which is best? Schwab or Vanguard?

Note: I have no 401k, nor do I have an IRA account.

Thanks,
K.

Hey K,

thank you for your message. Due to tax reasons (FATCA), US expats have difficulties using brokers if they’re not in the US. That’s why I always recommend using a broker that is available in both the US and the country of residency (in your case, this will be an EU country later).

Because of this reason, Schwab seems a better option as it also accepts more non-US clients if you have a minimal account size ($25k+). If you click on “Open an account”, and select the preferred EU country, you can check if that’s available at Schwab: https://international.schwab.com/

In addition, Interactive Brokers (https://brokerchooser.com/broker-reviews/interactive-brokers-review) is a great option as it’s available in many countries globally.

Let me know if you have any questions.

Best,
Adam