How to manage accounts for move from Philippines > US with US address
Hi! So my partner (who is Filipino) and I were planning on moving to PH from US. We would still have a US address. Fidelity told us they “don’t do business with PH” so we aren’t supposed to have an account with them if we move. However, we would still be US citizens with an address here. (Have brokerage and IRA/Roth accnts with fidelity at present.) Also, how would they know we are in PH/for how long we are in PH? 🧐
It looks like Charles Schwab is very expat friendly. Thinking of just rolling over everything there as an option. We would be low income the first year in PH and self employed. Plan to eventually get digital nomad visa (me) and Balikbayan visa (partner).
We have family we’d be living next door to the first year. We could put our money in my partner’s (trusted) relatives bank accnt, and just be the keeper of the passcode so only we could access it.
I thought that because we have a US address and citizenship, we’d only have to worry about wiring money, not about the kinds of accounts we have and with what companies.
Any advice about the logistics of expat finances would be greatly appreciated.. especially if you have experience from US to PH. It seems like it’s “you’re not allowed to do this!” / (subtext: but only if we know about it) type of rules… but idk.
We should and would consult with a expat finance expert. However, I’m interested in peoples’ lived experiences.