Hi I would really value your advice. I know some aspects have been discussed on this forum but I am still non the wiser and perhaps I could benefit from a more simplified explanation due to my inexperience.
I am (36yrs, UK citizen) looking to do long term investment and have a low tolerance on risk and dont expect to invest more money soon. I bank with Citi HK currently and their fees are 0.2% for HK securities and 0.5% for US securities (no europe?).
I am looking for a long term investment (retirement) and have about 1mil HKD to invest immediately. My idea was 50% Bond and 50% Stock (out of which is 50% intl markets and 50% US). I have done some monte carlo simulations however a big factor here is being left out and this is the fees.
1. Brokerage fee: What is your current recommendation for the best broker for HK residents in terms of risk to fee balance? I was leaning with IB but just realized they are insured to 15K HKD which is ridiculous. On the other side HK banks seem to be very expensive? Is there a way to leverage my UK citizenship and get a broker somewhere else?
2. Tax. My understanding is to stay away from US market due 30% dividend tax (and inheritance tax) is there a way around this. Any good US ETFs without dividends?
3. As per point 2 I understand Irish ETFs are a better choice due to 15% tax only. What brokerage account do I use to invest in Ireland domiciled ETFs from HK?
4. I am not sure investing in HK stock market is the best idea for the next 30 years due to lack of choices for ETFs, bonds and lack of liquidity?
Also, as I mentioned Monte Carlo simulation is helpful to me but I cannot easily factor in the tax fess, brokerage fees etc. Is there any other simulation tool to help to model the various fees?
Thank you for your sage advice