What can I do with my investments now?

Feb 24, 2014 | Uncategorized

My funds in the US or in Spain?

Were you with Merrill Lynch until last year? If you are finding difficulties with your investments as an American resident in Spain, because of the new FATCA regulations, or if you simply want to access a very efficient and low-cost US banking/brokerage/investment account, we cannot find a better alternative than Schwab International, not only from the investment point of view, but because of the US Tax efficiency and simplicity.


There are four key reasons to recommend a Schwab International Account to our clients. They are the following:

 1) A Very Solid and Well Respected US Brokerage/Banking/Investment Firm:

Schwab is a Fortune 500 company with over 40 years of experience in serving investors. It is a NY stock Exchange listed company (Symbol: SCHW) with millions of clients worldwide, and a very broad experience in serving clients who live outside the United States (offices in London and Hong Kong, and account documents and client service is available in Spanish.) Schwab is a financially strong company that took no funds in the US bank bailout, and cash in the Schwab account is covered by US government guarantees as are all US bank accounts.

 2) A Schwab Account Greatly Simplifies Tax Compliance for US Citizens Abroad.

As a US- based account holder, Schwab will provide (conveniently online) a full 1099 report shortly after the end of each year for each client. Additionally, US citizens with a Social Security number will have no withholding in their account on interest and dividends, as the information is perfectly recorded on the 1099 report. This will greatly simplify tax filing, and in fact, can save the client not only a lot of aggravation, but  money too, as the tax filing professional will have much less work to do to complete the investments part of the declaration.

 3) Schwab is a Very Efficient LOW COST Platform.

There are no fees for opening or maintaining a Schwab International Account. The account can be opened for as little as $10.000   The account will serve both as a brokerage account to hold shares, bonds, ETFs or mutual funds, as well as a bank account from which to receive or make US dollar transfers, as well as a link to a US-based Visa Card which can be used in Spain to withdraw funds from the Schwab Account or just as an ordinary Visa Card. The commissions are VERY low at Schwab, with no cost access to thousands of US BASED mutual funds, or stocks or bonds or ETFs worldwide, with a commission per transaction of only $8.95 per trade if executed through their internet based platform, or $33.95 per trade if executed with the help of a Schwab broker on the phone.

4) Customer Service Advantage

It is easy to open a Schwab account from abroad, with account opening documents available online in Spanish or English. Schwab has excellent online and telephone service representatives who can answer questions in either language as well.

P2P Finance is an active representative of Schwab International in Spain, with many years of experience in helping clients open Schwab Accounts, and advising them of low cost, low risk, highly tax efficient ways of generating decent returns on their investments held in their Schwab Accounts. In this way, the client can benefit from the advantages of investing with Schwab online or by phone from anywhere in the world, but at the same time have a highly experienced Madrid-based investment advisor for personal advice and guidance to help build and maintain the investment portfolio in Schwab which best meets their needs.

P2P Finance will be glad to meet personally with no obligation with anyone who has over 100.000 euros to invest and might require the service of a personal advisor in combination with their Schwab Account.

P2P Finance – James Levy – Gran Vía, 59 – 10º Madrid – Tel. +34 609 737 757 p2pfinanzas@gmail.com