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Poker
Joined: 16 Jan 2010
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 Posted: Sat Nov 08, 2014 9:03 am Post subject: What would happen to my Korea investments after E2 expiry? |
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I have a Samsung securities account and have some Won in various stocks.
1. Can I leave the country permanently and my account still stays active?
2. Can I buy and sell from overseas?
Thanks |
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Drew345
Joined: 24 May 2005
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| Posted: Sat Nov 08, 2014 3:33 pm Post subject: |
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Can't really answer your questions, but my experience from bank accounts is like this:
A bank account (opened with an ARC) seems to be actually "owned" by the ARC number, not by the person. No amount of additional ID can be used to prove you are you.
A Korea driver's license will have the ARC number on it and be good 10 years even though ARC expires.
Some accounts can be changed over from the ARC number to the passport number (while you still have the ARC).
So I recommend trying to change the account over to your passport number or at least getting a Korean driver's license number.
As for overseas trading; seems that if it can be set up to work in-country, no reason it wouldn't work out of country (if they don't block IPs) |
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kberger
Joined: 22 Oct 2009
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| Posted: Sat Nov 08, 2014 10:48 pm Post subject: |
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I can't answer your question either, but I would think you would want to transfer the money from the Samsung account to your home country while you are in Korea.
Speaking as a US citizen, money earned while in Korea is not subject to tax in the USA. Once you leave Korea, you will probably be getting double taxed, once in Korea, and you'd have to report it to the IRS too. Telling the IRS you have investments in an account in Korea would likely lead to audits and headaches. |
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Otus
Joined: 09 Feb 2006
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| Posted: Sat Nov 08, 2014 10:53 pm Post subject: |
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| A bank account (opened with an ARC) seems to be actually "owned" by the ARC number, not by the person. No amount of additional ID can be used to prove you are you. |
That's interesting. Presumably, accounts can be opened without an ARC (just a passport).
It caused an absolutely furious dispute on here a few years ago, when it was suggested that you needed the ARC to open an account. Droves testified emphatically that they had opened accounts with just the passport.
If the former were true, it made visa tourist teaching and other kinds of work much more difficult than many back then seemed to claim it was.
I've never been here without an ARC, and it seems to me the handicaps of trying to function here without one have always been substantial. |
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alongway
Joined: 02 Jan 2012
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| Posted: Mon Nov 10, 2014 7:17 am Post subject: |
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| A Korea driver's license will have the ARC number on it and be good 10 years even though ARC expires. |
Even if the license itself is still valid, the number is not. When your visa is cancelled the ARC stops working. While someone can look at it and match it against a record, what they couldn't do is actually call up your information online through the government database. It means real name verification will fail, it would also mean that a phone taken out against the ARC which can be used for verification also won't work. |
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PigeonFart
Joined: 27 Apr 2006
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| Posted: Tue Nov 11, 2014 8:30 pm Post subject: |
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Just like any bank account i'm sure it would be fine to leave open for a few months or years. You'll still be able to log in with your current user id and password. Keep logging in from abroad. How will they know you've left? They won't know.
When you come back with a different ARC (does your ARC number change? i don't know) you can just inform them of that chahe. All your other details will remain the same (passport number, name, date of birth).
I'd quite happily leave it open if i was you.
By the way, could you post a link to that securities website because i'd be interested in that. Is the website in Korean or English?? I could do it in Korean but would like an English option. |
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Poker
Joined: 16 Jan 2010
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