I have two question about HSBC expat.
1) It's based in Jersey, and my understanding is that in Jersey there is a tax on dividends.
But if I live in HK I will pay taxes according to HK rules, right? For example if I buy shares of Link Reit I won't pay a tax on the dividend, if I buy UCITS I pay 15% taxes, etc.?
Do I need to fill in a form to get back some of the taxes that I pay in Jersey (if these are more than I would pay in HK)?
2) One can have an expat premier account with a salary of GBP 100,000 a year. But what if one takes a pay cut or stops working? Do they check yearly if you still have that salary, and if you no longer have it, they ask you to put in 50,000 or they charge the GBP 35 fee?
Last edited by john_1122; 27-05-2020 at 04:26 PM.
I think you're a bit muddled there. Dividends are usually taxed at source. A US stock market ETF UCITS like IUSA will be subject to 15% witholding tax whether you hold it with HSBC Jersey or IB in Hong Kong. There won't be any extra tax applied in Jersey.
Shares in Link will not be subject to witholding tax wherever you hold them, and FWIW I think HSBC expat only allows for US and UK sharedealing anyway. Likewise stocks or ETFs that are UK based like Shell or a FTSE 100 tracker will be paid without any witholding tax wherever you hold them.
US stocks and ETFs listed in the US like VOO and QQQ, or in HK like 3140, are subject to 30% witholding tax wherever you hold them.