VISA Inc. is traded under the ticker symbol “V” on the New York Stock Exchange (NYSE), which operates from 9:30 AM to 4:00 PM Eastern Time.
Investors can purchase VISA shares through most brokerage accounts. Note that buying US shares involves a foreign exchange fee, typically around 1%, unless you are using a US dollar account for the transaction.
Brokerages often impose a higher transaction fee for US shares compared to UK shares, so it’s advisable to compare fees across different brokers if you plan to trade US stocks frequently.
When buying US shares, you will need to complete a W-8BEN form, which is valid for three years. This form allows you to benefit from a reduced withholding tax rate on qualifying US dividends and interest, lowering it from 30% to 15%. Additionally, owning US shares exposes you to foreign exchange risk; fluctuations in the pound against the dollar can affect the value of your shares in sterling terms.
Just like with UK shares, profits from US shares are subject to capital gains tax (CGT), unless the shares are held in an Individual Savings Account (ISA) or a Self-Invested Personal Pension (SIPP).
Investments in currencies other than sterling come with currency exchange risks. Changes in exchange rates can impact the value of your investment in sterling, potentially leading to a loss even if the stock price increases in its local currency.
Shares listed on foreign exchanges may incur additional dealing and exchange rate charges and could have different tax implications and regulatory protections compared to the UK.
