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Post by Deleted on Oct 4, 2015 8:58:55 GMT
So far I've enjoyed investing with Mintos and yesterday I was talking with some of my friends across the pond about it and was wondering if you allow US folks to invest in Mintos?
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Post by martins on Oct 4, 2015 19:10:37 GMT
Unfortunately, currently we cannot accept investors from the US.
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Post by Deleted on Oct 4, 2015 19:52:52 GMT
Thanks Mintos for clarification.
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shimself
Member of DD Central
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Post by shimself on Oct 5, 2015 7:52:21 GMT
So far I've enjoyed investing with Mintos and yesterday I was talking with some of my friends across the pond about it and was wondering if you allow US folks to invest in Mintos? Do you know any platforms in US which permit European investors (please)
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Post by Deleted on Oct 5, 2015 9:12:56 GMT
I know of two US based platform. LendingClub and Propser, but none that I tried reaching out to. Won't hurt to contact them.
Returns seem to be lower than UK/EU platforms (but so is base rate in US)
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Post by marek63 on Oct 5, 2015 9:33:30 GMT
US investors can be expensive to manage due to FATCA compliance and other potential US SEC and IRS issues; most EU providers will avoid the layer of IRS, SEC legals and compliance that inevitably follows a US taxpayer. Even the compliance to confirm that there is no filing requirements each year is a pain.  |
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shimself
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Post by shimself on Oct 5, 2015 9:56:28 GMT
I know of two US based platform. LendingClub and Propser, but none that I tried reaching out to. Won't hurt to contact them. Returns seem to be lower than UK/EU platforms (but so is base rate in US) They won't accept overseas investors
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Post by xyon100 on Oct 10, 2015 8:44:37 GMT
US investors can be expensive to manage due to FATCA compliance and other potential US SEC and IRS issues; most EU providers will avoid the layer of IRS, SEC legals and compliance that inevitably follows a US taxpayer. Even the compliance to confirm that there is no filing requirements each year is a pain. I know quite a few Americans who are having considerable difficulty leading normal lives overseas due to this. Day to day bank accounts are a problem that can be got around, but when it comes to investment, pensions, mortgages- some are really having big problems. Doing some research in to it, this monstrous FATCA act was snuck in as if it were nothing at all on the back of the HIRE act. The entire worlds financial systems bullied in to reporting the whereabouts, income and assets of about 7 Million "Americans" (by US definition, you don't need to have been there) back to the IRS. The cost to the worlds financial systems is estimated to be as much as one BILLION Dollars in order to collect perhaps a 100 million in taxes. The collateral damage and unintended consequences, particularly for US citizens minding their own business abroad have been enormous.
How in Gods name can the USA be sending tax bills to the mayor of London, a British citizen living in the UK?! Oh, he happened to be born in the USA. The more I looked in to this, the more concerned I became. The unintended consequences just ripple on and on. We now have companies all over the world having to give the company accounts to the USA because a director studied at college there? Canada in particular, with it's very large number of people deemed "US persons" by the USA has been particularly badly hit. To really see the repercussions of this monstrous act of imperialism on the entire world by the USA, you need a week to study it.
And it's no good the 7 million or so directly hit by this complaining to the USA, they are painted as tax evading traitors and the public don't mind if they get hung out to dry. The USA seems determined to make the entire world hate them, including those once proud of their US passport who are handing them back in record numbers.
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shimself
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Post by shimself on Oct 10, 2015 9:42:58 GMT
It's easy to understand why ex-US platforms (and other investment and financial institutions) won't deal with US citizens, because they rightly fear that if the US government (or functionaries more likely?) chooses they can more or less put them out of business.
I don't understand why US companies won't accept EU investors.
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Post by xyon100 on Oct 11, 2015 10:19:56 GMT
Speaking of which, I don't remember Mintos asking me if I was a "US person" when I registered. Presumably as Mintos don't accept US customers then they must be concerned with FATCA regulations?
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