In addition, if individuals want to buy foreign stocks, they need to open a securities account in the country where the stocks are located.
Take American stock account opening as an example:
If you want to open an American account, you need to use your resident ID card and my proof of residence address (refers to the proof that the account applicant has received in the last three months, usually bills issued by some public institutions, such as water, electricity, gas, telephone bills, bank or credit card bills, and certificates issued by financial or public institutions with this business seal. It must be called by telephone, and the customer's name and residence/mailing address should be clear.
1. Go directly to the United States to open an account: This scheme is suitable for people with fixed addresses and contacts in the United States. It doesn't really matter whether they can speak English, because a few American brokers can provide Chinese services (Chinese websites and specialized Chinese customer service staff), and the biggest advantage of this scheme is that if you don't want to contact some small brokers who have never heard of it, this scheme can provide you with more choices, even if you are not very rich. You can also open accounts with Citigroup and Fidelity Bank. Another advantage is that you can ask them to give you a personal check. Even some banks with their own banking systems, such as E*trade, you can also ask for an ATM card, which will be helpful for some financial purposes in the United States. Account opening documents: passport and driver's ID card or your entry and exit documents in the United States.
2. Open an account through an online US stock broker: Most China people still have no chance to travel or settle in the United States, so it is more feasible to buy and sell US stocks through an online US stock broker who supports online account opening. These online US stock brokers are generally headquartered in big cities in the United States (mostly in new york), and their trading commissions are much lower than those of some traditional brokers. Opening an account is also very simple. Just fill in the relevant forms online and send them to their American headquarters. Some brokers even support paperless account opening. Basically, I suggest that Chinese mainland investors open accounts to speculate in US stocks in this way, because in this way, you can enjoy the same low commission transaction as American customers (online US stock trading), and more importantly, they will know that you are a "foreigner", which will affect your tax payment.
3. Re-commission orders through Hong Kong subsidiaries of domestic brokers or Hong Kong brokers: Basically, the "Hong Kong subsidiaries" of major domestic brokers have this business. The so-called "re-entrustment" means that you place an order with this Hong Kong brokerage firm (or the Hong Kong subsidiary of a mainland brokerage firm), and then this brokerage firm transfers to another brokerage firm with which it has signed cooperation in the United States. Hong Kong subsidiaries of many large domestic securities firms are secretly developing mainland customers to buy and sell US stocks or Hong Kong stocks through various channels, such as haitong international, a Hong Kong subsidiary of Haitong Securities, and Shen Yin Wanguo (Hong Kong), a subsidiary of Shen Yin Wanguo.