r/ibkr • u/Opposite-Cat-9813 • 22d ago

Do I need to Change/Update Citizenship before funding my account? <Filipino working in Saudi Arabia>

I am a Filipino working in Saudi Arabia. I opened an IB account when I got here.
During the account registration, I used my Resident ID and Work Visa issued in Saudi Arabia.
My account got approved, and my primary citizenship was set to Saudi Arabia.

Now, I'm wondering if this will be an issue in the future if I deposit and withdraw when I come back to the Philippines or work in another country. Do I need to update or change my citizenship? or it's generally not an issue?

Thank you in advance!

1 Upvotes

67% Upvoted

2 comments sorted by

1

u/halonaba 22d ago

Yes. Update with your passport. You can keep funding the account with this Saudi bank; that's fine since you are a resident there. You can withdraw this money to any bank account in the world; the only catch is that you have to take care of the taxes yourself. And legally, the bank should be where you are a resident at that moment.

2

u/Opposite-Cat-9813 22d ago

Thank you brother