0

Any citizens of Iran here who can share their experience?

5
  • 2
    While there are exceptions, generally as a citizen of Iran, you would be subject to a lot of financial sanctions which would effectively cut you off from anything like this but I am sure there are exceptions, I just can't think of any. Commented Dec 1, 2021 at 20:48
  • 4
    Are you referring to the US State of Georgia or the country in Eastern Europe
    – JohnFx
    Commented Dec 1, 2021 at 21:23
  • I'm referring to the country of course!
    – user113269
    Commented Dec 1, 2021 at 21:33
  • @GµårÐïåñ so what do you do then?
    – user113269
    Commented Dec 1, 2021 at 21:52
  • Just to be clear, to John's point, it is not as clear as of course, especially given you mentioned US Brokers, but I assumed it was the country because of the country you mentioned it was an assumption that happened to be right, not because it was obvious. That being said, not sure much you can do unfortunately unless someone like HSBC and alike who have been fined for "ignoring" the sanctions but I wouldn't consider those a real solution honestly. The points of the sanctions are exactly this, to frustrate people into compliance - whatever it is, I don't want a political conversation. Commented Dec 2, 2021 at 1:24

1 Answer 1

1

You should be able to open an account if you are a legal permanent resident/green card holder.

In fact, National Origin is a protected class, so discrimination solely based on your Iranian origin is illegal, and you should consult a lawyer if you are denied because of it. However, there are some things to consider:

  • Can you prove you are a legitimate resident of Georgia/legal permanent resident?
  • Are you on the OFAC sanctions list (here)?
  • Is the money you are trying to put in the broker US-sourced? Or at least NOT Iranian sourced? If it's from Iran, it would raise strict scrutiny. You would have to work with an OFAC compliant currency exchange broker in Iran to transfer the money. Citizens/residents are not allowed to have bank accounts in Iran either (Source). Again, if you are just trying to put money you made in the US into a US broker, I don't think there would be an issue.
4
  • I don't live in the US
    – user113269
    Commented Dec 1, 2021 at 21:51
  • My comment on National Origin is irrelevant then if you are not a resident of the US. A number of brokerages do allow foreign citizens to open brokerage accounts. Do you have legal identification papers for Georgia similar to a greencard? If so, then you can might can open a brokerage account with a brokerage that services Georgia. If all you have is an Iranian passport, then no, it's probably not legal for any US-domiciled brokerage to service you.
    – Ryan
    Commented Dec 1, 2021 at 23:11
  • If they were a US resident even, this would not have been an issue, usually a reference to a blocked country implies they are outside the jurisdiction that would provide them the protective cover to partake but that's the fault of the poster not to make clear, doesn't mean your answer is wrong per se, just not relevant to what they were looking for. Commented Dec 2, 2021 at 1:26
  • 2
    @user113269: If you don't live in (and arent a citizen/legal resident of) the US, why would you want to invest with US brokers? Aren't there brokers who do business in the country of Georgia?
    – jamesqf
    Commented Dec 2, 2021 at 4:01

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .