How to Set Up an Investment Account as an Expat or Non-Resident

One of the first practical challenges for internationally mobile investors is finding a reliable, regulated investment account that accepts their residency status. Not all brokers are created equal: some refuse non-EU or non-UK applicants outright; others impose significant restrictions on the products available; and many require more documentation from non-residents than from domestic clients.

This guide sets out the most practical options for expats and non-residents, what documentation is required, the key restrictions to be aware of, and how to choose the right account type for your investment approach.

Why Non-Residents Face More Complexity

Financial institutions face heightened regulatory obligations when onboarding non-resident clients:

• Anti-money laundering (AML): Cross-border clients require more thorough source of wealth verification
• FATCA (US): US persons abroad face additional reporting obligations; many non-US brokers refuse US-person applications entirely
• CRS (Common Reporting Standard): Brokers must identify each client's country of tax residency and report automatically to their local tax authorities
• Local licensing requirements: A broker licensed in the UK cannot necessarily serve a client resident in Australia or the UAE — they need local licensing or a passporting arrangement

For these reasons, selecting a broker with a genuine international client base — rather than a primarily domestic retail broker — is more straightforward for expats.

Brokers That Accept International and Expat Clients

The following are among the best-known regulated brokers with established international client programmes. These are listed for illustrative purposes and should not be taken as recommendations — always conduct your own due diligence.

Interactive Brokers One of the most widely used platforms for internationally mobile investors. Interactive Brokers offers accounts to residents of most countries outside sanctioned jurisdictions, supports over 150 markets, provides access to equities, bonds, ETFs, options, futures, and more, and offers multi-currency accounts. Professional-grade tools but a less consumer-friendly interface. Fees are competitive for active investors; less so for buy-and-hold.

Saxo Bank A Danish bank with an international presence, offering accounts to non-EU and non-UK residents in most jurisdictions. Saxo provides access to a wide product range including equities, bonds, ETFs, CFDs, options, and futures, and is well-regarded for platform quality. Minimum investment thresholds vary by account tier.

Swissquote A Swiss-regulated bank and broker with a strong reputation among European expats. Swissquote's Swiss regulatory status is attractive to clients who value Swiss banking standards and currency stability. The platform covers equities, ETFs, fixed income, FX, and structured products. Minimum opening balance requirements apply.

IG International / IG Markets IG is one of the world's largest CFD and spread betting providers, with FCA regulation and offices in multiple jurisdictions. Well-suited to active traders seeking CFD or share dealing accounts internationally.

CMC Markets International Another established CFD broker with international client acceptance, strong platform, and FCA regulation.

Each of these brokers has specific terms regarding eligible residency jurisdictions — verify current eligibility directly with the broker, as restrictions change.

ISAs and UK-Specific Products: Not Available to Non-Residents

This is one of the most important restrictions to be aware of: Individual Savings Accounts (ISAs) are available only to UK residents. If you are not a UK resident:

• You cannot open a new ISA
• You cannot make annual contributions to an existing ISA
• You can keep a pre-existing ISA from when you were UK-resident, but it will not grow via new contributions

For UK nationals living abroad, this is a significant restriction. It means that tax-efficient wrappers typically used for UK-based investment (Stocks & Shares ISA, Cash ISA) are not available until you return to UK residency.

The practical alternatives for non-resident investors include:

• Offshore investment bonds (covered in a separate guide) — particularly tax-efficient for UK non-domiciled residents and expats
• Direct accounts in their country of residence with local tax planning
• International platforms (as above) with holdings managed according to their jurisdiction's tax rules

Documentation Required for Account Opening

The documentation requirements for non-resident accounts are more extensive than for domestic accounts. Expect to provide:

Identity verification

• Current valid passport (photocopies certified by a notary are sometimes required)
• Some brokers also require a national identity card

Proof of address

• Utility bill, bank statement, or official government letter showing your current residential address — typically issued within the last 3 months
• For expats in jurisdictions without utility bills in individual names (common in the Gulf, for example), a tenancy agreement, government-issued residency card, or notarised address confirmation may be accepted

Source of wealth

• Written explanation and supporting documentation for the origin of investable capital
• For employment income: payslips, employment contracts, or HR letters confirming salary
• For business proceeds: sale and purchase agreements, solicitor completion statements
• For inheritance: probate documents, legal correspondence
• For investment returns: account statements from existing investment accounts

Tax identification information

• Tax identification number (TIN) from your country of residence
• FATCA self-certification form (all institutions require this; US persons face additional scrutiny)
• CRS self-certification confirming tax residency

Gathering this documentation upfront before applying significantly speeds up the process.

Account Types: What Suits Your Investment Approach?

Execution-Only (Self-Directed) You make all investment decisions and the broker simply executes your trades. No advice is given. Suitable for experienced investors who know what they want to buy and need only a platform to transact. Typically the lowest-fee option.

Advisory Account The broker (or an investment adviser linked to the account) provides investment recommendations, but you make the final decision on each trade. Offers professional guidance without giving up control. Common in private banking relationships. Higher fees than execution-only.

Discretionary Portfolio Management (DPM) A professional portfolio manager runs your account on your behalf, within agreed guidelines (risk level, asset classes, geographic restrictions, income/growth orientation). You receive periodic reports but are not involved in day-to-day decisions. Well-suited to time-poor investors, those who lack investment expertise, or those who want a fully professional service. Typically the highest fee option — minimum portfolio sizes of £250,000–£500,000 or above are common for institutional DPM services.

Fee Structures: What to Compare

Investment account fees are not always transparent. Key costs to compare:

• Dealing/trading commissions: per-trade fees for buying and selling. Many platforms have moved to zero-commission models for equities (revenue derived from bid-offer spreads instead), though bond and ETF dealing still attracts commissions on most platforms
• Platform/custody fees: annual percentage of assets held (typically 0.15–0.45% for online platforms, higher for full-service custodians)
• FX conversion fees: critical for international investors trading across currencies. Compare carefully — even a 0.5% spread difference on regular FX conversion compounds significantly
• Advisory/management fees: for advisory or DPM accounts, typically 0.5–1.5% per annum of managed assets
• Inactivity fees: some brokers charge for dormant accounts — relevant if you hold a long-term buy-and-hold portfolio with infrequent trading

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The information in this guide is for educational purposes only and does not constitute financial advice. Investment values can fall as well as rise. Regulations and broker eligibility criteria change; verify current terms directly with any broker before opening an account.

How Global Investments can help

Navigating account opening as an expat or non-resident is one of the most common practical challenges our clients face. We work with a range of regulated custodians and platforms that are well-equipped for internationally mobile investors and can facilitate introductions to appropriate account structures based on your residency, investment objectives, and portfolio size.

For clients seeking discretionary or advisory portfolio management, Global Investments manages international portfolios directly, with access to a wide range of investment instruments across jurisdictions. Contact us to discuss your requirements.