Best investment account for US citizen living in Hong Kong

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  1. #1

    Join Date
    Mar 2018
    Posts
    25

    Best investment account for US citizen living in Hong Kong

    Apologies if this has been asked before, but most of the similar posts I saw were ~10 years old

    My understanding is that as a US citizen, I'd owe taxes on any of my income regardless of where the account is.

    If so, any reason not to move money back to the USA and invest in a normal brokerage account? Presume there'd be no Hong Kong impact, but not 100% sure.

    Also, anyone know if its possible/beneficial to do any sort of IRA/401k account, or am I stuck with a "normal" taxable account?

    Thanks


  2. #2

    Join Date
    Mar 2017
    Location
    Hong Kong
    Posts
    923

    no issues with Hong Kong tax. I still try to max out my Roth IRA in the US every year.


  3. #3

    Join Date
    Jul 2012
    Posts
    1,516

    Don't forget FBAR. Also, if you have assets over 200K outside of US, you'd need to attach Form 83XX to your return. I forgot the exact forms.
    with higher interest, you can consider moving to US account. However, there is always risk that HKD don't peg anymore and HKD strengthens. But you'd never know.


  4. #4

    Join Date
    Mar 2018
    Posts
    25

    Thanks. Roth IRA has some income maximums though, right?
    I've read you can do a deductible IRA if you don't have a retirement plan at work. Anyone know if MPF counts for that?