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Do I need to be an Australian citizen or living in Australia to invest?

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By · 3 Jan 2021
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Tom Wilson
By ·
3 Jan 2021
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time 4mths ago

Question

Can an Indian National Resident in Australia on Temporary Residency VISA and who has a job in Sydney invest using InvestSMART? - Submitted by Indradeb

Answer

Everything you need to know about investing with us if you're currently based overseas or an overseas citizen.

No, you are not required to be an Australian citizen or currently residing in Australia in order to hold a Professionally Managed Account (PMA) but you and/or your entity will be subject to the same verification requirements.

You must be able to provide the following details in order to invest with us: 

  • Australian Bank Account
  • Tax Identification Number (TIN) and Country of Tax Residence
  • Certified Passport - Valid within three months
  • Proof of Residency - Australia within three months, Overseas within six months 

Here is the list of people who are able to certify documents overseas.

Overseas Approved ID Certifiers 

  • Police officer 
  • Judge, Magistrate, Registrar or Deputy Registrar of a court 
  • Lawyers 
  • Notary Public 
  • Consular Official 
  • Australian consular officer or an Australian diplomatic officer (within the meaning of the Consular Fees Act 1955) 
  • Employee of the Australian Trade Commission who is: 

a) in a country or place outside Australia; and 

b) authorised under the paragraph 3(d) of the Consular Fees Act 1955; and exercising his or her functions in that place; 

  • Employee of the Commonwealth who is: 

a) in a country or place outside Australia; and 

b) authorised under paragraph 3 (c) of the Consular Fees Act 1955; and exercising his or her function in that place. 

You will still be required to apply through our website but please feel free to contact our friendly team please contact our friendly team at invest@investsmart.com.au to discuss the specifics.

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