These must be very small meat and potatoes investment firms then. They might not have a compliance department and might not be able to justify the salary of having someone tackle FATCA requirements. I, as an American abroad primarily used the big banks (HSBC, BNP, Barkleys) because its built in to the service.
In Israel (9m pop), non of the banks available to the general public (Poalim, Leumi, Discount, Iggud/Mizrahi) will let you do anything other than a checking account and a saving account. Perhaps a loan but definitely no holdings; and similarly no broker will either. They are not small. It just isn’t worth it to them financially so they don’t. There are est. 300k US tax payers in Israel, but while the profit is per-person, the compliance costs are huge and mostly constant.
HSBC in Israel, last I Heard, had a $2M account minimum.
Yes, but at least you can still buy US ETF's unlike in the EU. And Interactive brokers has a bank account in Israel you can wire money into, so one can get by.
These must be very small meat and potatoes investment firms then. They might not have a compliance department and might not be able to justify the salary of having someone tackle FATCA requirements. I, as an American abroad primarily used the big banks (HSBC, BNP, Barkleys) because its built in to the service.