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HSBC Premier / Expat / InvestDirect - UK Shares

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  1. #1

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    HSBC Premier / Expat / InvestDirect - UK Shares

    Quick question to see if this is hypothetically possible, since you cannot trade UK shares online, through HSBC HK - premier / advance or any other account.

    1) Open an HSBC Premier account locally.
    2) Use that to open an HSBC UK Premier account. Local balance allows you to run that one free of charges (?).
    3) Use the UK account to buy / sell UK based shares / ETFs.

    Possible?

    Curious to find out if anyone has done this, before I approach HSBC and get a "computer says no" answer.


  2. #2

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    1 and 2 are possible. I don't know about 3. Normally bank accounts (like Premier) are separate to share dealing accounts.


  3. #3

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    Quote Originally Posted by TheBrit:
    1 and 2 are possible. I don't know about 3. Normally bank accounts (like Premier) are separate to share dealing accounts.
    Yep, reading your post, I worded my question incorrectly. Was wondering if you could open a trading account under the UK premier account and keep everything consolidated under HSBC.

  4. #4

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    Never mind, seems to be a no-go with HSBC for a non-resident to open an investment acct in the UK.

    a resident of the UK and at least 18 years old
    Will dig around and update if there is a solution.

  5. #5

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    Quote Originally Posted by shri:
    Never mind, seems to be a no-go with HSBC for a non-resident to open an investment acct in the UK.



    Will dig around and update if there is a solution.
    I believe what you are saying is correct. You may need to physically be in a UK Branch and complete the risk profiling questionnaire and other KYC formalities. I would specifically ask if this is ok. Its HSBC after all
    shri likes this.

  6. #6

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    BTW if its based out of the UK, you would be liable for UK taxes (including capital gains tax when selling the shares).

    Also, pretty sure for HSBC UK investment account (HSBC UK directly) you need to be UK resident.

    HSBC Expat share dealing list of residency requirements, of which HK isn't one:

    https://www.expat.hsbc.com/1/2/hsbc-...ealing-details


  7. #7

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    Quote Originally Posted by pin:
    BTW if its based out of the UK, you would be liable for UK taxes (including capital gains tax when selling the shares).
    Are you sure?

  8. #8

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    Quote Originally Posted by TheBrit:
    Are you sure?
    No, but then again I'm not a tax specialist.

  9. #9

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    Quote Originally Posted by pin:
    No, but then again I'm not a tax specialist.
    I am fairly confident you are wrong. The only UK CGT that non-residents are liable for are any gains from the sale of residential property.
    shri, pin and greenmark like this.

  10. #10

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    https://www.gov.uk/capital-gains-tax/what-you-pay-it-on

    If youre abroad
    You have to pay tax on gains you make on residential property in the UK even if youre non-resident for tax purposes. You do not pay Capital Gains Tax on other UK assets, for example shares in UK companies, unless you return to the UK within 5 years of leaving.
    This is consistent with the advice I got from the Inland Revenue hotline & my accountants when I had to dispose of some UK domiciled unit trusts in 2013.
    pin and shri like this.

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