My husband and I are both resident in Germany, me being German while he is American. He works for an American Consulate and is able to get paid in Euros, but pays his taxes in the US.
Because he is resident in Germany he is not usually able to open a bank account in the US, especially not for investing.
At the same time banks in Germany will let him open an account, but not for investing in stocks, etfs... as they don't want anything to do with the massive amounts of paperwork to be filled in and reported for US Citizens.
A while ago my husband was able to open a bank account with the department of state federal bank. This lead us to think he will finally be able to open a Roth IRA. He was able to do it, but there are no options with this bank to keep the money invested in anything other than a savings account which does not seem profitable given the very low interest rate.
So this far, the only advantage is the tax break for his contributions.
Does anyone have information on how to move forward in this situation? Which banks might let him invest?
We did try a couple times, talked to lots of people on the phone, send in the necessary paperwork and cheques, only to have everything returned in the end.
Any help / ideas are appreciated!