One of these hurdles, for example, is the application form that has to be submitted to the foreign tax authority. As is so often the case, there is no standardization at international level. In other words, each country has its own form, some in the local language and including individual requirements and deadlines to be met. As a result, investors are confronted with the problem of having the necessary specialist knowledge right from the start in order to be able to make such an application at all. And even for those who know the processes, making such applications is always a burden. Because, among other things, because of the required documents that have to be attached to such an application, there is quickly a veritable mountain of paper. Anyone who now owns an internationally widely diversified portfolio and therefore several securities in different countries faces a bureaucratic effort that most do not consider worthwhile. And that, although they are legally entitled to the reclaim.