I was once approached by a US citizen who asked five other financial and investment advisors before me how to invest his money, and they all told him, „Our banks don’t want your money! And why that is and how we found a solution, you will learn in this video.
- It seemed that Mike, as a U.S. citizen, would not open a custody account and would not find a way to invest money saved in Germany. Despite his extensive research, he had not found anyone who could offer him a solution to invest his own money in Germany.
- Mike came to Germany a few years ago and settled here. He still has a U.S. passport, but lives here with his family, his wife and two children, and has a permanent job with a medium-sized company.
- As a US citizen, he had already invested money in the USA, and wanted to invest again here in Germany. After all, he had already saved up a small cushion over the years and now thought it was time to invest the money again in shares and on the stock market for his asset accumulation.
Unaware of this, the US citizen went to the bank and wanted to open a securities account to buy shares.
However, the bank advisor told the US citizen that it was not possible for him to open a securities account at his bank. For a few years now, it has actually been the case that US women can no longer open a securities account at the vast majority of banks. The reason for this is the requirements of the US tax authorities. These are so high that most banks have said, we strictly reject US citizens as customers.
- Mike wanted to invest, though, and he knew if he just let his money sit around, it would just get less over the years.
- As a result, as a U.S. citizen, he started doing his own research and tried signing up with several apps and banks to open a custodial account. All to no avail!
- The next step was to ask an investment advisor for help in opening a custody account as a US citizen in Germany.
But even here, even the fifth advisor could not give him any other information. He was desperate and had no idea that this would be so difficult, and was about to give up. Nevertheless, Mike absolutely wanted to invest it and did not let up with his research. Even as a financial expert, I admire him for his perseverance. Through a few detours, he then found me as an independent financial and investment advisor from Schwabach in Germany on the internet and made one last attempt.
To this day, it amazes me that so few investment advisors know how to open a securities account easily and quickly here in Germany for Americans and US citizens.
Contact and solution
When he as a US citizen called me and asked if there was a solution for him to open a securities account here in Germany, he was speechless when I told him: „Not the conventional way, but in itself pretty simple, yes!“ He didn’t want to believe me at first, because he had previously been turned down by five different investment advisors and no one could help him.
In the meantime, we opened a custody account for him as a US citizen and I advise him on his investment decisions. He is super happy about the easy possibility to invest again. As a plus on top, he now even has a tax advantage in his custody account, which benefits him every year and works much more effectively than a normal custody account. That’s why we set up two more securities accounts for his children right after that, in order to use the tax advantage for further investments here as well.
But apparently there are also very few who really go on the search to realize and achieve the wishes and goals of their customers. And if you as a US citizen are interested in how exactly I did it with the depot and why this variant is also an absolute recommendation for people from Germany due to the tax advantage.
I look forward to hearing from you.
