Do I have to pay tax on money in a savings account?
If you are a resident of Hong Kong, you generally do not have to pay taxes on profits earned from overseas investments, including US stocks. Hong Kong tax regulations are favorable in this regard, and there is no capital gains tax on profits made from trading international stocks for individual investors. Whether you are an individual or operating a limited company, trading stocks under your own name is typically not considered a taxable business operation unless it constitutes day trading or short-term investment activity that could be classified as a business. However, it is crucial to note that while Hong Kong does not levy these taxes, you must still comply with any reporting requirements in your jurisdiction. If you trade stocks under a company name, the profits would likely be subject to taxation as part of your business operations. Always verify your specific trading status, as the distinction between an individual investor and a business entity can significantly impact your tax obligations.
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