This is getting a bit redundant... I'm looking for something similar. I want things very, very simple. Like, send it over and forget about it.
Here's what I've come up with:
- Vanguard account could be OK, but you need to somehow get your money from Hong Kong to the US. I just found this confusing, but there are explanations on their website. How much I'd lose in regular transfers and currency exchange rates was all unclear to me and this is too messy for me to be bothered with.
- Citibank -- can open HK account, and if you have a US phone/address, you can set up a US bank account and then transfer money between the two. There, in the US, you can buy investment products but for around $7 per purchase, I think...
- TD AmeriTrade... now owned by Charles Schwab, but different platform. This offers I think the most options as a brokerage...but for me, I find this overwhelming and difficult to navigate, because I want something more simplistic.
But what I think I will go with is the Charles Schwab International. I find their website very user-friendly, they seem to have good/reachable customer service (unlike Citibank US); they will provide the tax form I need; and they have a HK bank account I can transfer to each month -- this was quite tricky to find with other companies. It is not a HK legal entity so my savings can be kept safely out.
Here's a basic investment question for Americans: should I avoid dividend paying products? Currently, my foreign earned income is below the tax threshold. I'm a little unsure what will happen with my US taxes if I start getting dividends through my US investments (I guess I just report them and pay taxes on them?).