英國投資必睇! 關於IBUK戶口10個常見疑問及解答 (有字幕) | 點樣將IBHK轉會IBUK真離岸 | 存取港幣、兌換英鎊 | 買賣美股、ETF | IB ISA免稅投資

Summary

In this video, Michelle provides a comprehensive guide on transferring an IBHK (Interactive Brokers Hong Kong) account to an IBUK (Interactive Brokers UK) account, addressing ten common questions that arise during the process. She explains the differences between IBHK and IBUK accounts, the steps required to transfer funds, the handling of foreign currencies like HKD, and the challenges of investing in US ETFs under UK regulations. Michelle emphasizes the importance of proper documentation and following legal requirements when making the switch. The video serves as a valuable resource for anyone planning to move their trading account from Hong Kong to the UK.

Takeaways

• 😀 IBHK, IBUK, and IB LLC are different entities based in Hong Kong, the UK, and the US, respectively. Each country has its own legal regulations, requiring separate accounts for each region.
• 😀 Once you move to the UK, you should switch to an IBUK account, as IB does not allow clients to hold accounts with multiple IB entities simultaneously.
• 😀 You cannot open an IBUK account while still residing in Hong Kong. IBUK accounts are only available to UK residents with proof of UK address and National Insurance Number.
• 😀 To transfer assets from an IBHK account to an IBUK account, first open an IBUK account, then submit a manual transfer request via the IB platform's message center.
• 😀 The manual transfer process between IBHK and IBUK can take at least a week and you cannot trade positions during the transfer period.
• 😀 With an IBUK account, you can deposit or withdraw Hong Kong dollars without the need for office verification, unlike IBHK.
• 😀 Transferring assets between IBHK and IBUK does not require you to liquidate any positions. Your cost basis remains the same post-transfer.
• 😀 As a UK tax resident, you'll pay a reduced 15% US withholding tax on dividends from US stocks, compared to the 30% tax for Hong Kong residents.
• 😀 Due to EU regulations (PRIIPs), you cannot invest in most US ETFs as a retail client in IBUK. However, you can invest in UK-listed alternatives or qualify as a 'Professional Client' to access US ETFs.
• 😀 After transferring your positions to IBUK, you can hold your ETF positions but cannot add to them. Only existing positions can remain.
• 😀 Currently, IB does not support transferring investments into an IBUK ISA account. ISA accounts are separate and must be managed independently.

Q & A

What is the difference between IB-HK, IB-UK, and IB-LLC?

IB-HK, IB-UK, and IB-LLC are registered in different countries (Hong Kong, the UK, and the US respectively). Due to differing legal regulations in each country, IB operates separate entities in each region to offer services to customers. This is similar to how HSBC operates different branches in Hong Kong and the UK.

Can I have both an IB-HK and an IB-UK account at the same time?

No, you cannot hold accounts with both IB-HK and IB-UK simultaneously. IB does not allow customers to have accounts with multiple IB entities. After moving to the UK, you should open an IB-UK account and close your IB-HK account.

Can I open an IB-UK account before arriving in the UK?

No, you cannot open an IB-UK account before arriving in the UK. IB-UK accounts are only available to UK residents, and you will need to provide proof of a UK address and your National Insurance Number to open an account.

How can I transfer funds and positions from an IB-HK account to an IB-UK account?

To transfer from IB-HK to IB-UK, you first need to open an IB-UK account. Once the account is set up, you can submit a request to IB through the 'Message Center' to manually transfer your funds and positions. This process is handled manually by IB and may take about a week.

How long does it take to transfer positions and funds from IB-HK to IB-UK?

The transfer process typically takes at least one week because it is handled manually. During this time, you will not be able to trade the positions in your IB-HK account.

Can I deposit or withdraw Hong Kong dollars (HKD) in an IB-UK account?

Yes, you can deposit and withdraw a variety of foreign currencies, including Hong Kong dollars (HKD), into and from your IB-UK account.

Do I need to liquidate positions in my IB-HK account before transferring them to IB-UK?

No, you do not need to liquidate your positions in your IB-HK account. The transfer will maintain the same cost basis for the positions once they are transferred to your IB-UK account.

Will I get tax advantages when investing in US stocks through IB-UK?

Yes, as a UK tax resident, you will benefit from a reduced US withholding tax rate of 15% on dividends from US stocks, compared to the standard 30% for Hong Kong residents.

Can I invest in US ETFs through an IB-UK account?

Most foreign ETFs, including US ETFs, cannot be purchased by retail customers in the UK due to EU regulations introduced in 2018. To invest in US ETFs, you must qualify as a 'professional' client. Alternatively, you can invest in similar ETFs listed on the London Stock Exchange.

Can I continue holding my ETF positions after transferring them from IB-HK to IB-UK?

Yes, you can continue holding your ETF positions after transferring them from IB-HK to IB-UK, but you can only close the positions. You cannot add new positions to the transferred ETFs in the IB-UK account.

Can I transfer my existing investments into an IB-UK ISA account?

No, IB does not support transferring investments into an ISA account from other accounts. You will need to manage your ISA investments separately, as it is a tax-advantaged account in the UK.