Filling in a W-8BEN form is required in order to buy US stocks through our app.
As a non-US investor, you will be required to fill in a W-8BEN form through the app, to declare you are not a US tax resident, which most likely reduces the amount of US tax you have to pay on US-sourced income from 30% to the most favourable rate allowed by your country’s tax treaty with the USA.
Apart from a filled W-8BEN, you must also have a Tax Identification Number updated in your trading account, otherwise, the reduced rate cannot be applied. Most commonly is 15%, but it can be anything between 10% (e.g. Russia, Romania) and 30% (Greece, Taiwan).
You can contact us if you are unsure whether this information is present in your account.
Note: Tax is a personal affair and if you are unsure about any tax implications you should seek professional advice.