How quickly can I turn IBKR portfolio into cash?
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They charge from second withdrawal
https://www.interactivebrokers.com/en/pricing/other-fees.php
You probably pay profit tax on the capital gains, depending on the location of your business.
https://www.interactivebrokers.com/en/pricing/other-fees.php
You probably pay profit tax on the capital gains, depending on the location of your business.
I have faced issues even trying to withdraw 500 EUR (which I did as a test to overcome the AML compliance obstacles; hoping that next time, when it's urgent, it will go smoother, as I would have warmed up the account so to speak).
Compliance monkey asked: "Why do you want to withdraw funds?"
Great share 🙂
I guess that is the new normal. In 2024, one has to put up with this BS.
Still, IBKR is a great solution in the market. By all means, I can recommend them.
I had such experience once with a business account, while cashing out to the very same company account from where a deposit was made.
Guys, it is for your own safety (or the one for your to be inherited money's). The banks are asking to warn your or alert the police if you are becoming victim of fraud. You can maybe check this one:
https://bankingombudsman.ch/schadenersatzanspruch-nach-einem-betrug-durch-falsche-polizisten/
Here, the son of a victim had the opinion that the bank should have warned his mother when she was trying to get 40k CHF from the bank in cash.
You can just tell the bank that you want to buy a Rolex or store the money in your safe and you are good to go.
BTW: Western Union (in the US after losing a lawsuit) is also requiring you to confirm that you do not send the money to pay for purchases.
Is it for the same 'own safety', for which they locked down the world, create AML regulations and loose customer data to hackers, and shows us that in reality our 'human rights' are nothing more than temporary permissions?
there is a part 2
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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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Business Bank Account for your US LLC Remotely
Generally not. But to be fairly honest, all those questions would not come up if there were not some people who went too far in the past. UBS and CS were among those.
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