Trading UK Shares as non UK Resident
#1
Trading UK Shares as non UK Resident
Hi all.
After doing some research online regarding the topic of trading UK shares while being a non UK resident, I could not find anything useful relating to my specific issue so would appreciate any guidance.
The issue I am facing is that all UK online brokers will not sign me up as I am in Saudi Arabia and hence not a UK resident despite having a UK bank account, UK address and Nat Insurance number.
I would like to know if anyone on this forum as a UK National trades UK shares directly with a UK based online broker and how they manage to get over the non resident issue? Could I just put the UK details in the application form and not tell them I am non resident or will that lead to problems with HMRC as NI number is taken by the brokers?
Thanks.
After doing some research online regarding the topic of trading UK shares while being a non UK resident, I could not find anything useful relating to my specific issue so would appreciate any guidance.
The issue I am facing is that all UK online brokers will not sign me up as I am in Saudi Arabia and hence not a UK resident despite having a UK bank account, UK address and Nat Insurance number.
I would like to know if anyone on this forum as a UK National trades UK shares directly with a UK based online broker and how they manage to get over the non resident issue? Could I just put the UK details in the application form and not tell them I am non resident or will that lead to problems with HMRC as NI number is taken by the brokers?
Thanks.
#3
Account Closed
Joined: Feb 2011
Posts: 0
Re: Trading UK Shares as non UK Resident
Hi all.
After doing some research online regarding the topic of trading UK shares while being a non UK resident, I could not find anything useful relating to my specific issue so would appreciate any guidance.
The issue I am facing is that all UK online brokers will not sign me up as I am in Saudi Arabia and hence not a UK resident despite having a UK bank account, UK address and Nat Insurance number.
I would like to know if anyone on this forum as a UK National trades UK shares directly with a UK based online broker and how they manage to get over the non resident issue? Could I just put the UK details in the application form and not tell them I am non resident or will that lead to problems with HMRC as NI number is taken by the brokers?
Thanks.
After doing some research online regarding the topic of trading UK shares while being a non UK resident, I could not find anything useful relating to my specific issue so would appreciate any guidance.
The issue I am facing is that all UK online brokers will not sign me up as I am in Saudi Arabia and hence not a UK resident despite having a UK bank account, UK address and Nat Insurance number.
I would like to know if anyone on this forum as a UK National trades UK shares directly with a UK based online broker and how they manage to get over the non resident issue? Could I just put the UK details in the application form and not tell them I am non resident or will that lead to problems with HMRC as NI number is taken by the brokers?
Thanks.
Have looked time and again at transferring them to a new account but never really bothered. They've tanked recently (still profitable though) so will let the profit build up again and offload.
#4
#5
Account Closed
Joined: Feb 2011
Posts: 0
Re: Trading UK Shares as non UK Resident
I've looked at Swissquote and ended up struggling as I don't have a residential address here (all that stuff is in her name).
#6
Re: Trading UK Shares as non UK Resident
#8
Forum Regular
Joined: Dec 2016
Location: SYD again, formerly PRG, LON, HKG, SIN, SYD & DOH
Posts: 145
Re: Trading UK Shares as non UK Resident
probably because the broker didn’t want to take the compliance risks of non-resident accounts. Many banks apply blanket policies which are tighter than what regulations state. These restrictions often don’t apply to other divisions, for example the high street brokerage division won’t allow for overseas residents, the private banking division however will.
#9
Account Closed
Joined: Feb 2011
Posts: 0
Re: Trading UK Shares as non UK Resident
You'll all be glad to know I've survived, so far...and whilst at times I'm struggling to survive the idiots and politics, I managed to read that Expat Millionaire book in a few days and have decided the hard earned pennies shall no longer sit doing **** all.
Internaxx now appears to be part of swissquote and I've played that game before with residential address etc.
Interactive Brokers still seem a firm favourite so shall begin that process and see how we go.
Internaxx now appears to be part of swissquote and I've played that game before with residential address etc.
Interactive Brokers still seem a firm favourite so shall begin that process and see how we go.
#12
Account Closed
Joined: Feb 2011
Posts: 0
Re: Trading UK Shares as non UK Resident
Won't be going anywhere near day-trading. If I'm going to gamble, I'll do it on football or horses or something more fun.
Interesting, might investigate.
#13
Re: Trading UK Shares as non UK Resident
ID want proof of residential address which I don't have. Might be able to use work address but haven't changed that over since moving companies so is a slower process. It might make me tell the bank though, which I should really have done.
Won't be going anywhere near day-trading. If I'm going to gamble, I'll do it on football or horses or something more fun.
Interesting, might investigate.
Won't be going anywhere near day-trading. If I'm going to gamble, I'll do it on football or horses or something more fun.
Interesting, might investigate.
#14
Account Closed
Joined: Feb 2011
Posts: 0
Re: Trading UK Shares as non UK Resident
This other account I'm talking about is for long term investments, not pissing money away on Southampton to win.
#15
Re: Trading UK Shares as non UK Resident