Like Tree3Likes

Selling UK Stocks with Paper Certs

Closed Thread
Page 1 of 2 1 2 LastLast
  1. #1

    Selling UK Stocks with Paper Certs

    Many moons ago I inherited some stocks and when I moved to HK I changed the address to that of my sister in UK.

    I now want to sell them but for some of them I only have paper certs... I am worried that when I try to sell, it will trigger an ID check resulting in me needing to prove I live at the UK address.

    The registrar tells me I will have to find a Hong Kong broker, but I have tried a few and they all say they don't provide this service.... I also tried TD Luxembourg... but they also said no....

    I still have a UK bank account...

    Can't believe this is so complicated!!!

    CAn anyone help?


  2. #2

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    12,323

    Can you get them converted into chess holdings?


  3. #3

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,967

    Are they registered or marked in your name (forgotten what they look like!).

    Share Center in the UK takes them for 1% min GBP 25.

    https://www.share.com/services/selli...-certificates/


  4. #4

    Some have been automatically converted into digitally held certificates through mergers, but a few of them are paper only...

    It's a vicious circle, as many British brokers won't accommodate me cos I live abroad, and local HK brokers won't deal with UK shares....


  5. #5

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    12,323

    Pretend you live in the UK. Set up an account using your sisters address, then trade - by phone or post or internet or whatever. Just lie. You are " in HK on a business trip" if you have to give a HK number for any reason. I have accounts in UK, Aus, NZ which I do this for, for exactly the same reasons. They don't like overseas stuff because of compliance issues. So just take the problem away.


  6. #6

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,967

    You don't need to setup accounts or trade according to the share center site.

    They're more than happy to send you a check in exchange for your paper certs (I assume they accept those that can be traded ... there is a number to call on the site).


  7. #7

    Join Date
    Feb 2009
    Location
    Hong Kong
    Posts
    2,495

    KYC by financial firms is quite rightly extensive, and I doubt you'd be able to get away with saying you live in the UK when you don't. You are likely to need certified proof of address.

    However there are some brokers in the UK that will take on non-residents, and there are also brokers in HK that deal globally. Try this firm:

    https://www.interactivebrokers.com.h...hp?f=1338&ns=T


  8. #8

    Join Date
    Feb 2009
    Location
    Hong Kong
    Posts
    2,495
    jrkob likes this.

  9. #9

    Update: I managed to find a UK broker (recommended on another expat forum) called Beaufort Securities.... They were at first reluctant to sell the shares for me since they were said they were for small amounts.... (although at over 3000 uk not small for me!)

    But when I explained the difficulties I was having, they said that they would help out. After expressing my gratitude (and checking their commission) the guy said and I quote: "It's not always about the money... sometimes it's about helping people out..." I nearly dropped the phone!

    Anyway, I only called them after reading a similarly pleasant experience of someone else in the same boat as me calling them... so I promised them I would recommend them on this forum...

    The guy I dealt with was Matthew Giles: [email protected] 020 7382 8314

    HK_Katherine and shri like this.

  10. #10

    My mum is in Australia. She has HK Swire Pacific share worth about $40,000 paper certificate. She want to sell it in Australia. What can we do? We have tried many different way. My brother is going back to HK next month. Can he sell on her behalf. Thank you.


Closed Thread
Page 1 of 2 1 2 LastLast