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Old 27.01.2010, 09:54
confusedxx confusedxx is offline
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Re: USA citizen & child savings

Thanks runningdeer


Good point about the US citzenship issues. Considering I am not really planning on going back, it might not be important to get him a US passport until he wants one.

The sums we are talking about are small. I wish it was otherwise, but wishing does not make the money appear

I like DRIPs but I think they might take withholding taxes out for non-US citizens thus he would lose 25% or so of the dividends just for not being a citizen. This is something I will have to clarify with the DRIPs I have already.

Also the EUIL is a US product and he would not be eligible if he does not have a Social Security number. I understand the UK also tried to launch EUIL but it did not gain market acceptance. So instead they have other Unit Linked life insurance products.
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