Non-US Gold ETFs

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I was recently asked by about gold ETFs, and what I thought about the largest and most liquid ETF, the SPDR Gold Shares, listed in the US under ticker “GLD”, compared with other options for owning gold. This investor was a non-US taxpayer, and so was aware of some of the US estate tax traps […]

Stock Markets by Country 1899 vs 2019

119 Years of Investment Returns, According to Credit Suisse

Posted 1 CommentPosted in Charts, Investing, Wealth Management

This morning’s ferry read is the Credit Suisse Global Investment Returns Yearbook 2019, for which I have to thank this excellent Twitter thread by Cambria’s Meb Faber for pointing out. Two of the charts I found worth a screenshot and share here show shares of global stock markets have changed since 1900 by country (header […]

US Estate Tax for Non-US Investors in US Assets

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Many multinational millionaires know that Americans are subject to income tax on our worldwide income, and estate tax on our worldwide assets at death, but far fewer foreigners seem aware of how US taxes can snare non-US persons with US investments. Foreigners who have bought US dividend-paying stocks have probably seen US withholding taxes as […]

MPF vs ORSO

US Tax Structures for Hong Kong Residents

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My latest article in STEP HK’s August Newsletter is on “US Tax Structures for Hong Kong Residents“. Unlike with Mainland China, the US does not have a double-tax treaty with Hong Kong (more on tax treaties here), but there are still several ways Hong Kong residents may use US structures depending on whether they are […]