should I change residency on my trading account?

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Topic Author
marinero
Posts: 26
Joined: Tue Aug 06, 2019 5:16 am

should I change residency on my trading account?

Post by marinero »

Hi Bogleheads,

I recently moved from the UK to Hong Kong and plan to stay here for the years to come. I plan to move my tax residency here as Hong Kong has no capital gains tax or tax on foreign income.

--> Should I tell my trading platform (IBKR) that I am now based in Hong Kong? My inclination is to do so given Hong Kong has a preferential taxing regime. On the other hand, I am wondering whether there's a point in waking up sleeping lions, if you know what I mean.

--> Anyone had similar experience moving abroad? Did you let your trading platform know?

Thank you! I love this community! :happy
assyadh
Posts: 580
Joined: Tue Sep 18, 2018 12:44 pm

Re: should I change residency on my trading account?

Post by assyadh »

I would change it, just to do things cleanly. CRS and all.
123
Posts: 10387
Joined: Fri Oct 12, 2012 3:55 pm

Re: should I change residency on my trading account?

Post by 123 »

Financial institutions you do business with should be aware of your current correct residency so that they can correctly apply tax laws and any other pertinent regulations to your account.
The closest helping hand is at the end of your own arm.
Topic Author
marinero
Posts: 26
Joined: Tue Aug 06, 2019 5:16 am

Re: should I change residency on my trading account?

Post by marinero »

thank you to everyone who replied! :)
I will do as you suggested.
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