Posted by
garywhk
6 yrs ago
I'm an American expat who has permanent HK residency. I do not live in HK anymore and do not have any bank accounts there anymore. I own quite a few shares of the MTR Corporation and wish to sell them. I visited HK to investigate this, but found that all stock brokers refused to help because they said it was too complicated for Americans to do stock trading. I'm sure there must be some way to do this, but I'm pretty ignorant of stock market trading. I'd appreciate any advice this forum can offer.
Thanks in advance!
Gary
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Hi Gary - where are you now based? Back in the US? We may be able to assist you. We are an SFC registered company in HK and could provide you with a 3-year term loan against the shares. The shares would transfer to us and you would have the loan. If after three years the value of the shares were below the original loan amount the loan is non-recourse, meaning you can walk away from the shares and not repay the loan and the shares would be out of your hands. If interested to learn more please email me at lcampbell@equitiesfirst.com. I'm certain we can work something out.
Best, Lachlan
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Thanks, Lachlan. I am not seeking a loan and am not interested in your proposal.
Regards,
Gary
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Unfortunately, a succession of US legislation and regulation (which America imposes on the rest of the world), has made dealing with anyone who is a "US person'" expensive, problematic and, quite frankly, risky from a regulatory perspective. Many brokers and banks outside the US have, understandably, decided that it's not worth taking on US clients.
Try Interactive Broker: https://www.interactivebrokers.com.hk/inv/en/main.php#open-account
I have no personal experience with them (so not a recommendation) but it would appear that they accept US persons (presumably because they are a US brokerage).
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Thanks, I'll give them a try.
Gary
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