I’m a complete beginner who has never dabbled with investing before, but I would like to make our savings work for us and not just sit in a bank. I’ve got a question specific to cross-border workers though: we work in Geneva and live in France; tax residency is in France, so that’s a key difference to almost everyone on this forum as far as I can tell.
I’ve opened a degiro.ch account as that is where my place of work is and CHF is the currency of my salary account. However, in my reading I’ve now seen that it’s apparently better to invest on a platform and in the currency of your place of tax residence, so in our case that would mean I should really have opened a degiro.fr account and invest in EUR. Any thoughts as to the validity/truth of that please?
I’m planning a simple buy-and-hold, passive ETF strategy to use for the next 25-30yrs until retirement; investing probably 1000chf per month. I will definitely not be trading on individual stocks as I know I won’t be any good at that/I’m not enough of a gambler
We came to the Geneva area for work and, once we retire, we will move on, most likely to elsewhere in France. With that in mind, based on lots of reading on here and elsewhere, I am thinking of simply getting VWRL (IE00B3RBWM25) which is available on degiro.ch, but it’s available in CHF on SWX, in EUR on EAM, XET and MIL and in GBP on the LSE.
So discounting the LSE, I’m just not sure if I should get it in CHF (since the funds are coming from my CHF account linked to degiro) or whether I should get it in EUR from one of the 3 available exchanges (due to my tax domiciliation) and, if so, then which would be best?
There are probably tax considerations to take into account; I haven’t been able to find a financial advisor to give advice on this dual-country, cross-border situation. However, I’m hoping that these questions might just be very basic things and you can point me in the right general direction until I’m able to get some professional tax advice.
Thanks a lot!