You can check on their website which countries are allowed.
Here:
https://expatexplorer.hsbc.com/apply/
Here:
https://expatexplorer.hsbc.com/apply/
HSBC Premier Lifehack
- Thread starter Overtrade
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I took another look and found in the Turkish version of the FAQs:
In English:
It would be good to clarify whether the deposit is excluded from insurance if the credit institution is set up for offshore banking or if the account is set up for offshore banking (as we are discussing here).
By the way, the insurance amount has increased to TRY 950,000 since 01/2025. (This information is only found on the Turkish version of the webpage)
Does anyone know whether a stock portfolio in Turkey counts as special assets in the event of a bank bankruptcy? In some parts of the world this is the case, but I couldn't find anything about Turkey.
Yes. But upon account opening, I was honest with them and told them that I need the account for local payments due to my presence in Türkiye and my economic activities there.
Most often they belong to the owner and not to the bank or broker and thus are not part of the bankruptcy.
This question had been asked 2 times in this thread, but not yet answered (and I also don't know).
It would really be nice to know, what can I do with the money deposit? In my case, I want to invest in the stock market or transfer my existing portfolio to them. This question is also still open for the Barclays IOM (see other thread). The websites really don't give much information about this. I sent an email to both (HSBC Jersey and Barclays IOM) and await feedback. Will let you know also here once any news arrive.
I think either, we do not understand the question or I do not understand the answer. But from HSBC US
https://www.us.hsbc.com/investments/products/self-directed-brokerage/
https://www.us.hsbc.com/investments/products/self-directed-brokerage/faq/
I guess the rules are similar anywhere and you can move your assets in and out (probably with some fees).
That's not what I (we?) mean. The question is: does the investment in HSBC Securities count as deposit requirement to qualify permanently for Premier/Expat status?
Or another way to ask: the 100 k GBP deposit requirement for HSBC Expat, what I can do with that without loosing the Premier/Expat Status? Can I transfer that to HSBC Securities and invest in stocks?
You should ask HSBC, but as far as I know, yes. But then again, their fees are high. If I remember correctly, the charge a fee based on AUM, and then their fees for trading are high as well.
Does that product count for HSBC Gold? I just recall seeing a larger table with all kinds of fees. Maybe they have different fees for different markets? Interestingly, if you are an HSBC UAE client, it seems like they will give you an account with IBKR UK...? Would that count then...?
I think it counts for HSBC Premier with HSBC Expat. There are different accounts in different markets. The Sharedealing also exists in UK but with a quarterly fee of £10.95 or something. US seems to be also quite cheap:
https://www.expat.hsbc.com/content/...king-and-private-banking-terms-conditions.pdf
I talked to HSBC. The minimum deposit requirement is only fulfilled as long as you hold the money within the Expat/Premier account. That account offers also investments, but own stock trading is not possible. Automatically, position transfer is not available. It is simply not a broker account. You can only choose by a range of investment products HSBC offers. Further information and details can't be given by the hotline, because they simply don't know (I believe them). Once the account is opened and the Relationship Manager had been assigned, more information might be available, but not in advanced.
I hope this helps someone. I am still not sure yet if I want to go that way. The offered investment products within the Expat Account are probably quiet expensive and inflexible. I prefer to be my own investment manager and choose stocks / ETF by myself. But maybe it's worth it for the advantages I get to let HSBC manage 75 k of my wealth.
By the way: I also talked to Barclays, and for them I received more or less the same answer.
That's a real sad that no brokerage account works. Nobody leaves 75K or more in their account without interest. I wouldn't let it be managed.
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thomasparra
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HSBC Expat: The relationship balance does not take into account the Sharedealing investments. I know this from personal experience and talking with many different people at the bank. Only current/savings and HSBC managed investments count towards it (they all take 1-2% in fees + also entry fees I believe). Your call to decide if giving them GBP 75k is worth it to you. The only benefit for me is to bank in 3 countries under the same roof, which makes collecting local payments (rent etc) and paying credit card bills rather easy. I don't see many advantages besides this.
However they are winding down from many countries and in Europe and they only have a retail presence in UK, Malta and Switzerland now. They are all three part of SEPA.
However they are winding down from many countries and in Europe and they only have a retail presence in UK, Malta and Switzerland now. They are all three part of SEPA.
In this case better use HSBC US. I got the following message from HSBC: "Yes, monies in the self directed investment accounts counts towards the total related balances."
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thomasparra
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I try to stay away from the US system as much as possible. They might withhold taxes etc. I just do not want to deal with the IRS.
Personal decision that I can fully understand
Switzerland has withholding taxes higher than the US ones. Switzerland has a substantial presence test that leads to taxation much faster.
Just beware to not make the same mistakes as US Trump. If China is your enemy, it does not mean that Russia (or anybody else) must be your friend.
However, according to their website https://www.us.hsbc.com/investments/products/self-directed-brokerage/
unless there's another investment account available for non-US residents where you can buy ETFs and stocks?
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