I knew Hong Kong has no capital gains tax, but I assumed that any business income from investing/trading (which are classified generally as personal income instead of capital gains cash flow because of its short-term nature... ex. if I got QQQ 20AUG21 338C from Jan 1 and sold on Jan 15 FOR $500 profit, it cannot be claimed as capital gains in Canada because there are quite a lot of complicated rules that define whether it's income or capital gains and it's 99% going to be income because of the short period of trade duration.
Out of the fluke, however, I ran into a IBKR help desk in Hong Kong (IBKR is international so if the office is closed in Canada/USA, then any call from clients are forwarded to other English speaking offices around the world) and he told me that any investment related profits (stock market or real estate) has no taxes. Period. Not capital gains, NOT EVEN income from daytrading. Only employment based income are taxable. You'd have to be a Hong Kong tax resident and you don't have any tax obligations from elsewhere (like USA where tax is based on citizenship no matter where you are), but that blew my mind. I find this extremely hard to believe, so I thought I'd ask just in case.
Any feedbacks from stock traders in Hong Kong would be appreciated. I understand the situation there is volatile atm, but it'd be cool to know for the future once Hong Kong situation stabilizes... if it stabilizes ofc.
Out of the fluke, however, I ran into a IBKR help desk in Hong Kong (IBKR is international so if the office is closed in Canada/USA, then any call from clients are forwarded to other English speaking offices around the world) and he told me that any investment related profits (stock market or real estate) has no taxes. Period. Not capital gains, NOT EVEN income from daytrading. Only employment based income are taxable. You'd have to be a Hong Kong tax resident and you don't have any tax obligations from elsewhere (like USA where tax is based on citizenship no matter where you are), but that blew my mind. I find this extremely hard to believe, so I thought I'd ask just in case.
Any feedbacks from stock traders in Hong Kong would be appreciated. I understand the situation there is volatile atm, but it'd be cool to know for the future once Hong Kong situation stabilizes... if it stabilizes ofc.
