Investing to UK stocks for a UK non-resident

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Infinity7
Infinity7 Posts: 3 Newbie
in Savings & investments
I am UK non-resident living outside of EU and would like to invest into UK stocks. Could you please help me with two questions:

1) What stockbrockers would accept my application?
2) Is there any advantage for me of using a stockbroker in an offshore jurisdiction like IoM or Guernsey?

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  • Voyager2002
    Voyager2002 Posts: 15,322 Forumite
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    Well, UK stocks are overvalued so you would do better investing in Russia.

    If you are determined to invest in UK stocks, you could open an account with Internaxx... they allow you to buy Funds that invest in UK companies, or stocks traded in London (and many other places). Be prepared for high commissions.
  • Infinity7
    Infinity7 Posts: 3 Newbie
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    Russia is very cheap, that's true, but there is a reason for that: the country's economy has no growth drivers any more but has a lot of negative drivers. As a result, I could not see a realistic trigger which will cause investors to pay higher multiples.

    So the only play in Russia could be high dividend paying stocks, but even in this case you should be ready to take the risk of further multiples decrease.

    Is it possible to get a broker with low commissions for a non-UK resident?
  • PenguinJim
    PenguinJim Posts: 844 Forumite
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    Are you a UK passport-holder with a UK address (family, perhaps) and a UK bank account? You could try emailing IWEB for permission to open an account with them.
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  • EdGasket
    EdGasket Posts: 3,503 Forumite
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    If you are non-resident, you'll have to go the 'international' broker route. Don't think any UK bank or broker will open an account for a non-resident; it's too much admin and risk (money -laundering) for them. If you have a UK address you can use and a uk bank account then you could probably open a share dealing account with an online broker if you keep quiet about being non-resident but don't try opening an ISA which is forbidden to non-residents.
  • EdGasket
    EdGasket Posts: 3,503 Forumite
    edited 23 April 2014 at 11:48AM
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    Voyager2002 wrote: »
    Well, UK stocks are overvalued so you would do better investing in Russia.

    Not if tit for tat sanctions escalate; you could find your Russian shares worthless.

    Also UK stocks are lower now than in year 2000. Many blue-chips yield over 4%; much better return than any bank account. Not overvalued at all in my opinion.
  • atush
    atush Posts: 18,730 Forumite
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    I am a non UK resident and technically outside the EU as well.

    I have accts with Barclays and HSBC. These are investment only, not ISAs as you can't have them.
  • Infinity7
    Infinity7 Posts: 3 Newbie
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    I don't have UK passport, live outside of the UK, but have a UK bank account.
    atush wrote: »
    I have accts with Barclays and HSBC. These are investment only, not ISAs as you can't have them.

    Did you open them while living outside of the UK?

    How much do you pay for a stock trade?
  • atush
    atush Posts: 18,730 Forumite
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    Yes I did.

    abt 12 i think. HSBC is funds, the other stocks.
  • Dave101t
    Dave101t Posts: 4,157 Forumite
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    if you dont have a passport, are you sure your a UK non resident? Can be citizen of course...
    if you have registered details within UK, just use those, i know someone who does.....
    Target Savings by end 2009: 20,000
    current savings: 20,500 (target hit yippee!)
    Debts: 8000 (student loan so doesnt count)

    new target savings by Feb 2010: 30,000
  • buglawton
    buglawton Posts: 9,235 Forumite
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    Rules have changed a lot, 10 years ago non-UK people could open UK accounts in ways not possible today. Keep hold of your old accounts if you are in this position!
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