Brokerage in USD? (No conversion involved)

[entdark]

In Rakuten I see I can invest in USD by purchasing them with JPY. If I send USD to my account then it would get converted USD->JPY->USD.

What are my options in Japan for using the USD directly? I see Prestia would allow time deposits but unsure if there's something better. Maybe IKBR?

[adamu]

You can deposit USD into Rakuten without converting it to JPY

https://www.rakuten-sec.co.jp/web/servi ... x_pay.html

[entdark]

You can deposit USD into Rakuten without converting it to JPY

https://www.rakuten-sec.co.jp/web/servi ... x_pay.html

Thanks. I phoned Rakuten bank of Securities, they told me it wasn't possible, so I thought it was the same for Securities.

[gaijin86]

Yes, (just to confirm what adamu said).

Years ago I had USD in an overseas bank (after exiting some expensive wrapper fund in Zurich Insurance).
I moved it back to Prestia (as USD), then moved it to Rakuten-sec (as USD), then invested in USD funds, mostly in NISA account.

FYI-1
10% is deducted from dividends etc. at source (in America) since I investd in American, not Japanese funds; 90% of the gains are deposited into a 外資 account in Rakuten-sec as USD (no Japanese tax deducted because it is in NISA). I can then reinvest as USD (or convert to yen, etc.)

I have some of those original USD invested in a 特定 account (since I had used up my NISA limit). After the 10% is taken off dividends or other gains in America, Japanese tax is automatically deducted by Rakuten-sec. About 20% I think.

FYI-2
Playing around (in Rakuten-sec) with a foreign currency is a bit of a hassle, but probably worth it since my funds are already in USD.

[adamu]

USD invested in a 特定 account (since I had used up my NISA limit). After the 10% is taken off dividends or other gains in America, Japanese tax is automatically deducted by Rakuten-sec. About 20% I think.

You can claim the foreign tax deduction on the tax return for this part. The result is that you effectively get the 10% USD witholding back, and then Japanese capital gains is recalculated on the full amount. The paperwork is tricky, though, even when filing online.

[Viralriver]

I hate to reply to a post more than a year old, but I'm in this situation at the moment. I have a lot of USD that I want to put on Rakuten and invest in US stocks. I already do the paper work on the tax return for carrying losses (which is relatively simple, just download some file and upload to the kakutei form). I don't really understand what all this 10% withholding stuff is when paying in USD, so I guess that's my first question, but the second would be, how difficult is it to claim all this back?

[Tkydon]

I hate to reply to a post more than a year old, but I'm in this situation at the moment. I have a lot of USD that I want to put on Rakuten and invest in US stocks. I already do the paper work on the tax return for carrying losses (which is relatively simple, just download some file and upload to the kakutei form). I don't really understand what all this 10% withholding stuff is when paying in USD, so I guess that's my first question, but the second would be, how difficult is it to claim all this back?

https://www.mof.go.jp/tax_policy/summar ... _ST_en.pdf