Recently, multiple renowned Hong Kong licensed brokers including Futu Securities, Tiger Brokers, Longbridge Securities, Valuable Capital, Hafoo Securities, Winbull Securities, Tianfeng Securities, Zurich Securities, and Zinvest Global have successively updated their account opening policies, explicitly stating that they will no longer accept new accounts from existing users in Mainland China. This means investors currently residing in mainland China who wish to open accounts for Hong Kong stocks, US stocks, or other overseas investments through these platforms must provide valid "overseas residence or employment proof" to complete the account opening process.

This policy adjustment has sparked widespread attention and discussion. For mainland users with cross-border investment needs, it undoubtedly raises the account opening threshold. This article will provide a detailed analysis of these policy changes and list acceptable types of "overseas residence or employment proof" to help you navigate the new requirements smoothly.

I. Why Restrict Account Opening for Mainland Users?

In recent years, amid increased cross-border securities regulation by the China Securities Regulatory Commission (CSRC) and stricter Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance requirements, certain brokers licensed by Hong Kong’s Securities and Futures Commission have tightened account opening policies for mainland users.

Brokers must now ensure client identity authenticity, legal residency, and regulatory compliance due to evolving regulatory environments and internal risk controls. Consequently, more brokers are limiting account openings to users permanently residing or working overseas to mitigate legal and compliance risks.

II. Acceptable Overseas Residence or Employment Proof Documents

"Overseas Residence or Employment Proof" refers to official documents effectively demonstrating the applicant’s current residence or employment abroad. These documents are typically issued by official bodies, financial institutions, or service providers, carrying authority and time validity.

Mainland users must provide one document from the three categories below, issued within the last three months, clearly displaying the user's Chinese/English name, overseas address, issue date, and issuing institution’s full name. Only image formats are accepted.

Financial Proof

• E-statement / Electronic Notification: Bank account monthly e-statement, investment account electronic statement, etc., showing account holder’s name, overseas address, and financial institution name.
• Credit Card Statement: Repayment bill displaying cardholder’s name, overseas address, and card issuer name.
• Payslip: Bank statement showing salary payment from an overseas employer, including employee name, company information, salary amount, and payment date.

Residential Proof

• Utility Bills: Water, electricity, or gas bills showing user's name, overseas residential address, and utility company name.
• Phone Bill: Mobile or landline payment statement displaying account holder’s name, overseas address, and telecom operator name.
• Overseas Rental Agreement: Signed lease contract showing tenant name, property address, lease term, and landlord/agency details.
• Overseas Property Ownership Proof: Property deed displaying owner's name, property address, and issuing authority.

Official & Other Proof

• Insurance Policy: Document showing policyholder’s name, overseas address, and insurer name.
• Tax Receipt: Proof of overseas tax payments (e.g., personal income tax), displaying taxpayer name, overseas address, and tax authority.
• Other Government-Issued Documents: Such as residence permit certificates showing holder’s name, overseas address, and issuing authority.
• Hong Kong Driver’s License / Overseas Driver’s License: Displaying holder’s name, overseas address, and transport department name.
• HK/Macau Entry Permit Stay Endorsement: Endorsement proving lawful stay, showing holder’s name, issuing authority, and stay duration.
• Employment/Service Contract: Overseas employment contract including employee name, workplace address, employer information, and contract term.
• Employment Verification Letter: Letter issued by overseas employer confirming employment, showing employee name, company address, employer name, and issue date.

III. Document Requirements & Specifications

Ensure document validity by meeting these criteria:

• Validity Period: All documents must be issued within the last three months;
• Complete Information: Documents must clearly display the applicant’s Chinese or English full name, overseas address, issue date, and issuing institution's full name;
• Format: Most brokers currently only accept image formats (JPG, PNG, etc.);
• Authenticity: Forged, altered, or fake materials are strictly prohibited. Violations may lead to rejected applications or blacklisting.

IV. Restricted Proof Types: Documents NOT Accepted

Avoid repeated submissions by avoiding these:

❌ Expired Documents: Bills or statements over 3 months old

❌ Incomplete Screenshots: App screenshots missing the full address field

❌ Non-Official Documents: Property management notices, courier receipts, etc.

❌ Address Mismatch: Document address differs from application address

❌ Reused ID: ID documents submitted for identity verification cannot serve as address proof

V. Frequently Asked Questions (FAQ)

Q1: I’m currently in mainland China but previously studied/worked abroad. Can I use old bills?

A: No. All proof documents must be issued within the last three months to reflect current residency or employment status.

Q2: Can I use a relative’s overseas address as proof?

A: Not Recommended. Address proof must be directly linked to the applicant. Use official bills or documents bearing your own name and address.

Q3: Can I submit a scanned copy of my rental contract?

A: Yes, provided the contract is officially stamped by the landlord/agency and clearly shows your name and overseas address.

VI. Impact on Mainland Users & Recommendations

This policy significantly impacts mainland users, restricting most residents from opening new overseas brokerage accounts. Only mainland users with genuine overseas work or residency needs can continue investing.

Mainland users seeking overseas investments should prepare compliant documents as described. When selecting a Hong Kong broker, prioritize reputation, security, trading costs, and service quality to safeguard investment interests.

Summary

Amid tightening cross-border investment regulations, more brokers may restrict account openings for mainland users. If planning overseas investments via popular platforms like Futu, Tiger Brokers, or Longbridge, promptly prepare compliant "overseas residence or employment proof" to facilitate account opening.

Continuously monitor policy updates and choose compliant, stable trading platforms to protect your investment rights and fund security.

For more questions on opening Hong Kong or US stock accounts, feel free to leave a comment!