Can I deal in US stocks?
Yes, you can. However you will need to complete a W-8BEN Form.
All Non US Persons are subject to US tax at a rate of 30% on income they receive from US sources, such as dividends on US securities. If you reside in a country that has a double taxation treaty agreement with the US, you can avail of a reduced rate of tax deducted, generally 15%. This US tax is also charged on sales of US securities for Non US Persons at a rate of 30%. For a person residing in a country that has a double taxation treaty agreement with the US, the rate of tax (on sales proceeds) is reduced to 0% with the completion of a W-8BEN form. (Tax rates correct as of October 2015).
Ireland, the United Kingdom and most other EU countries are among the countries that have a double taxation treaty with the US.
To avail of this reduced rate of tax, we must ask clients to complete a US tax form (W-8BEN), also known as a 'Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding'. The purpose of the form is to “certify” the country you live in and to confirm you are not resident in the United States.
If your account is a joint account with another person, both account holders must complete and return separate W-8BEN forms. If you require a second form you can either download it using the link below, contact us on 01 614 8900 for trading accounts or email us and we will forward one to you.Download a W-8BEN Form
Warning: The information contained herein is based on our understanding of current tax legislation in Ireland and the current Irish Revenue interpretation thereof and is subject to change without notice. It is intended as a guide only and not as a substitute for professional advice. You should consult your tax adviser for the rules that apply in your individual circumstances.