I started a single member LLC in the US, got a an EIN From the IRS but E-trade and TDA refused to open an account saying the member has to be US resident. (I Have a US mailing address through the registered agent). Anyone had success with this as a foreign resident? Perhaps an other type of company?
I agree in terms of E-Trade. However, at least in terms of an individual account when you push the "Open new account" button at Ameritrade, it says: "What you need: Social Security Number or ITIN Foreign tax ID, passport, or visa number (if you're not a U.S. citizen or permanent resident)" From a drop down menu you can choose between a long list of countries - including EU contries, so I assume Ameritrade is open to non-US residents.
International traders all use interactive brokers as they open an account for just about anyone. Not sure about China as IB invested in Tiger brokerage.
No I already tried that route before I went the LLC route. On the 2nd or 3rd screen it will say "Ameritrade is not able to open an account at this time" or something similar.
Yes that's why I got an american LLC with an american address and IRS tax ID but even that is not enough.
I was under that impression too but they (etrade,tda,schwab) keep telling me the LLC member has to be US resident. I was gonna check with a Lawyer but I don't think there is much that can be done. I can't force them.