If you are keen to build a dividend portfolio in the US market, consider investing into dividend aristocrats and kings. You will still get affected by the 30% withholding tax but over time the dividend increases will cover the amount.
To get a better yield on cost, sell put options on the stocks to get the shares at some discount.
I personally do not go for overseas dividend stocks. Reason being, aside from the withholding tax, some brokers would also charge handling fees which will erode the value of dividends one is supposed to receieve. I too personally feel that US market is more of capital play rather than dividend play, hence my choice of stocks in US would be more skewed towards growth and technology stocks which are rarely found in the local market.
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