Important Notices

27/01/2023

Notice for UTRADE Regular System Maintenance (28 Jan)

Due to regular system maintenance, UTRADE trading web/mobile platforms will be suspended from 8am (HKT) to 2pm (HKT) on 28/1/2023 (Sat) .The system is not accessible during the mentioned period. We apologise for any inconvenience caused.

For enquiries, please contact the Client Services Hotline at (852) 2136 1818.

19/12/2022

Withholding Tax on Publicly Traded Partnerships ("PTP") Securities 🔔

 

The US Internal Revenue Service (“IRS”) has issued a new provision under Section 1446(a) and Section 1446(f) of the Internal Revenue Code (“IRC”) that primarily impacts Non-US Persons who invest in PTP Securities. 

 

With effect from 1 January 2023, the following withholding taxes will be applied: 

- 10% of the amount realized on that sale or exchange 

- Up to 37% on other connected taxable income (e.g. gross dividends paid out)

 

In view of the above,

- Clients who hold PTP Securities may want to sell these securities by 28 Dec 2022 to avoid the additional withholding taxes.

- Clients may want to hold off purchasing new PTP securities till the implementation of the new provision is clearer.

- UOB Kay Hian ("UOBKH") will not accept transfer in of PTP Securities request from clients till further notice.

- With immediate effect, PTP Securities should only be traded through our online channel. If PTP Securities are being traded through our offline channel, such transactions may be squared off in the market without notice by our counter-parties and the related costs, loss, commission, tax or any other charges and expenses incurred will be booked to clients.

 

Hereunder please find the non-exhaustive list of PTP Securities for your reference. It may be subject to changes from time to time without prior notice and UOBKH does not warrant the accuracy, reliability, and completeness of the list.

 

(Link to the list)

 

If you are holding any PTP Securities, we suggest you to consult your tax advisor, review your investment portfolio and take appropriate actions as soon as possible. Also, UOBKH reserves the right to claim the withholding tax from the customer to satisfy IRS withholding requirement.

 

 

For details, please refer to the following information:

 

IRS Requirements on PTP Products: https://www.irs.gov/individuals/international-taxpayers/publicly-traded-partnerships

 

IRS Regulations on the Withholding Tax on PTP Transactions: https://www.irs.gov/individuals/international-taxpayers/partnership-withholding

 

Please contact your account executive or our client services hotline +852 2136 1818 if you have any further inquiries.

16/11/2022

Overdue Interest on Futures Accounts

With effect from 1 December 2022, the interest rate of P+3.5% will be applicable to the debit balance (all currencies) of Futures Account.
Should you have any queries, please do not hesitate to contact the Account Executive handling your account or our Client Services Officer at (852) 2136 1818 or email clientservices@uobkayhian.com.hk.
Please note interest rates may subject to change without notice.  For details, please visit our website.

 

16/11/2022

Effective from 1 Jan 2023 ,Trading Fee will be adjusted to 0.00565% per side of securities transaction on HKEX (Rounded to nearest cent).

Effective from 1 Jan 2023 ,Trading Fee will be adjusted to 0.00565% per side of securities transaction on HKEX (Rounded to nearest cent).

22/07/2022

About Amendment Of Rules In Relation To Northbound Trading Of Stock Connect By China Securities Regulatory Commission (CSRC), Shanghai Stock Exchange (SSE) And Shenzhen Stock Exchange (SZSE)

Please note that the CSRC, SSE and SZSE have announced their rule amendments (in Chinese only) in relation to restricting Mainland investors from Northbound Trading under Stock Connect with effect from 25 July 2022 (the Effective Date). 


The amendment restricts Mainland investors from Northbound Trading under Stock Connect from the effective date. 

 

Please note our arrangement as below:

  1. From 22 Jul 2022, new clients who are Mainland investors are restricted to BUY China Connect Securities through Northbound Trading. Only selling will be allowed.
  2. For existing Mainland clients who are registered to trade China Connect Securities through Northbound Trading: There will be one year transition period (from 25 Jul 2022 to 23 Jul 2023). During this period, clients can still buy and sell China Connect Securities through Northbound Trading until 23 Jul 2023 or any date notified by us (whichever is earlier).
  3. If you have not disclosed your Mainland investor identity to us, please contact your account executive to update your personal information, and stop buying any China Connect Securities through Northbound Trading from 25 Jul 2022.
    Mainland investors include: (a) individuals that possess Mainland ID documents; (b) holders of a joint account if one of the holders is considered as Mainland investor under (a); and (c) corporate or unincorporated entities which are registered in the Mainland.

 

Please refer to the relevant websites of the CSRC, SSE, and SZSE for details of these new requirements.

Please contact your account executive or our client services hotline +852 2136 1818 if you have any further inquiries.