Oh I forgot we could have tried Interactive Brokers statements. Good job we didn’t. I did think about Wise but guessed they wouldn’t be accepted because I tried to use Wise statements before when signing up for a Swiss brokerage and failed.
Closing the loop on this one–the English document provided by Citibank was also rejected by HSBC because account balance statements are not allowed. I went back and noticed all of my rejected documents had a list of reasons for rejection except for the Interactive Brokers statement which just said “this document cannot be accepted”. I emailed them asking for specific reasons why that document was rejected and received the same “this document cannot be accepted”. I emailed again asking for specific reasons why that document was rejected and it was then accepted.
YMMV but it appears IB statements, with a bit of persistence, will work.
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In a couple of days she will get her monthly Citi statement, which we’ve had updated to English so we will probably use that.
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Can you explain what the HSBC Expat account/service is?
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In the online application for HSBC expat, they ask for your TIN. Am I correct in understanding that if I am tax resident solely in Taiwan, I can just provide my APRC number for this? Any earnings from HSBC expat would not put me over 1 million ntd per year outside Taiwan, which I believe means I would not need to report it for tax in Taiwan - is that correct? Does HSBC expat communicate much with the tax authorities here?
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Not sure but you can ask the Tax Office in Taiwan if your APRC number is used as your TIN. For citizens it is out ID number.
For understanding tax obligations visit the tax office as they have English speaking professionals who can advise you on your tax obligations.
It is.
Not sure about this. As you know, at this time of the year, their official answer will be “you’re not tax resident in Taiwan”. (I don’t know how far they take the logic of this argument though, i.e., if they insist because the foreigner isn’t tax resident here they must be tax resident in their home country instead.)
That should be how it works, yes. I don’t know specifically about HSBC (maybe someone else does), but for many Taiwanese banks that’s usually not how it works in practice. There’s a whole thread about that, but maybe HSBC is better.
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I have HSBC HK and HSBC Taiwan accounts. The jurisdictions HSBC HK will report to other tax authorities can be found online. Taiwan is not on the list. Perhaps because HK being part of China and not recognizing Taiwan they perhaps aren’t sharing information to Taiwan.
HSBC HK is also allowing some foreign nationals to open HSBC HK Accounts online and you do not need residency in HK.
You would need to state which country for your HSBC Expat and see if that country has reporting obligations to Taiwan.
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Well HSBC Expat is not in Taiwan is it?
Fair point – I missed that part. My mistake.
(I have an HSBC account in the UK from when I was a student, but don’t really use it these days.)
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