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. You can contact us if you are unsure whether this information is present in your account.
Most commonly is 15%, but it can be anything between 10% (e.g. Russia, Romania) and 30% (Greece, Taiwan).
Note: Tax is a personal affair and if you are unsure about any tax implications you should seek professional advice.