Assume the following scenario:
- natural person (not US citizen or Green Card holder) is tax-resident in some European (EU) country
- owns a US-based securities/brokerage account that holds shares of a public company listed in the London Stock Exchange.
Does that natural person have tax liability in the US for dividend income or capital gains (when shares are sold) simply by virtue of the securities/brokerage account being located in the US?
Or is the location of the securities account that holds the shares irrelevant and the only thing that matters is the tax jurisdiction of the natural person (which is not US)?
I know that non-US tax residents are not liable for taxes in the US for interest earned on ordinary US bank accounts but I have no idea what the situation is regarding securities accounts holding shares of companies listed in some foreign exchange.