British expat in the Netherlands. Non-tax resident in both the UK and NL. Investing options?

[pirodirty]

Hi folks. Not in the UK for more than 183 days in the tax year, which means I have non-tax resident status despite strong ties there (family, work network etc).

I am employed full-time in the Netherlands, with the 30% rule applied, which is a Dutch tax exemption for employees who were hired from abroad to work in the Netherlands. As advised by a Dutch tax advisor, I am considered a non-tax resident in the Netherlands too. This 'benefit' is applicable for 5 years. I do not plan to retire in the Netherlands.

I would like to start investing £1,000/Euro equivalent per month into a global ETF. As a non-tax resident in either country, are compliant low-cost brokerage options available for modest monthly/quarterly deposits?

I would have initially gone for a VanguardUK S&S ISA account, but this is not allowed due to non-tax resident status if I understand the gov.uk website correctly.

As a non-tax resident in the Netherlands (at least for the short term), I understand that I shouldn't open a brokerage account in the Netherlands e.g. DeGiro, using my Dutch details.

Does this leave Internaxx, Saxo, Swissport, as the only viable and compliant brokerage options for someone who is technically a non-tax resident anywhere? These were put on my radar after reading A.Hallam's book. As I understand, these brokerages are better suited to those with an already large amount of investable capital, rather than a starter due to the fees.

Any thoughts or general ideas, given non-tax resident status in both the UK and NL, is greatly appreciated.

 

[zpv]

@pirodirty The 30% ruling allows you to opt for partial non resident status for box 2 and 3 taxes in the Netherlands. This effectively means that you are exempt from the wealth tax that you would otherwise have to pay on an investment portfolio. It does not mean that you are “non-tax resident” in the Netherlands.

Given that the ruling is a government sponsored scheme, there is no reason to ‘hide’ any of your accounts. You can open an account with DeGiro or indeed any other broker. Note that when your 30% ruling expires you will need to start paying box 3 taxes on your investments if you are still tax resident in NL.

 

[richking58]

@pirodirty Are you sure you are not resident in the UK? The ‘183 day rule’ ceased to be a thing in 2013, you should determine your UK residence position under the statutory residence test and, if relevant, the UK-Dutch treaty.

 

[pirodirty]

@richking58 Thank you for your comment! If understanding the Statutory Residence Test correctly, I do meet automatic overseas test 2.3. Meeting any one of the 3 automatic overseas tests leads to non-tax residence status.

 

[richking58]

@pirodirty Correct, if you meet one of those tests you will be considered non-resident. I just mentioned it because of your reference to 183 days. As I am sure you saw, the limit for the third automatic test is 91 days, together with some more onerous requirements around sufficient hours working overseas and a limit on workdays performed in the UK.