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I’m interested in either personally investing or starting a holding company that invests in stock on foreign exchanges, as well as (at a later date possibly) domestic markets. Could anyone please lead me in the right direction as to what my options are and what the necessary requirements/forms/documentation would be?
To clarify my information, I’m a U.S. Citizen. As for the foreign markets I’m looking to invest in, they consist mainly of less-established Eastern European markets, such as Moldova, Ukraine, Romania, Bulgaria, Russia, etc.
Obviously, you didn’t like my answer two days ago when you asked the same question, so maybe there’s other information that you’re looking for.
The whole question about paperwork is not really useful, however. There is NO standard paperwork that the U.S. government requires to allow you to invest overseas. It is merely a matter of what is required by the broker you work through, and what is required by each foreign nation. Eventually, you will need to report it all on your taxes here, but as long as you go through a U.S. broker, you’ll have adequate records for that.
The easier way to do something like this is to go through a mutual fund that invests in those countries. I like the Central European Fund for your areas. The symbol is CEE on the NYSE. Best of luck to you.
Scott gave you a real good answer. Many of the larger brokers have the ability to purchase shares in overseas markets directly. Check with Merril Lynch, Goldman Sachs, and other brokers of like resources. Surprisingly, there are many foreign shares traded on the pink sheets but probably not in the countries except Russia mentioned above.
There are as Scott mentioned several closed end funds specializing in those countries. Go to this link to find others.
Yes, scott did give you the correct answer. As for direct company investments that you may be interested in purchasing, most listed are in ADR to be able to be bought. (example-say you want to buy Bayer, you would buy the ADR).
There is also alot of closed end funds that trade just like stock and you can buy a country. Look at Barclay (i-shares) for complete details. Some countries don’t allow for individual investors to purchase their stock and it is in these idex closed end funds that a company like Barclay’s offer. They will send you a packet and explain their products. You buy closed end funds like stock, and they trade/priced during the day. Some smaller regions like you suggest, may only have 12-15 stocks and the only way you can buy them is through closed end funds. (Sony is an example of this. Sony doesn’t want the mass’s playing around with their stock, it is only available through funds).
Check out this link below so you get an idea on ADR’s and understand them better. Good luck.