Thanks for the info on swiss tax treaty, I left a msg to IBKR support to follow up on that now

Yeah, this is the practice for banks too. Deutsche Bank also charges the same price to request tax voucher. They used to check your tax residency and apply WHT accordingly before. I think it’s a new regulation since 2021. This puts the work on the Swiss tax authorities to verify and reduce errors. But they charge for the tax voucher. So they’re clever.

For prospective/current Switzerland shares investors:

Regarding the 35% WHT issue on Swiss stocks, I have contacted a "tax specialist" from FTA (Federal Tax Administration of Switzerland) and received the following reply.



In other words, 35% is deduced automatically and you need to request for refund yourself. And Takudan IB is wrong in that tax treaty consideration is based on Malaysia (country of residence) not US/UK where the broker is based.

Postage fee to Switzerland might be expensive though. Transaction cost should be taken into account.

Thanks a lot to Hansel for his encouragement and support. (He suggested the "back-end" route and it worked!)

Wtf I wan open cimb account they say my company need to have an account with them baru can open? What kinda bank is this

lol treat me like laboratory white mice. Like me ask Takudan for a second opinion. I remember she executed trades on CHF-denominated securities before. Maybe she can share something.

No problem. I think the old commission rates don't apply with IBKR anymore, so it's fine.

The funny names are exchanges actually: https://www.interactivebrokers.com.hk/en/in...f=1562&p=europe

EBS is the actual Swiss Stock Exchange (Swiss Electronic Bourse), run by SIX. https://www.nasdaq.com/glossary/s/swiss-electronic-bourse

By the way, just curious what Swiss stocks did you buy last year? Nestle? Roche? Novartis?

lol Nestle yes. What was your average price?

Nestle, Roche and Novartis together account for 50% of SMI index https://en.wikipedia.org/wiki/Swiss_Market_Index (each account for 17% weighting).

Roche is a well-known big pharma stock, second only to JNJ. It is well-known for its unusual corporate structure, where the Roche family control 18-20% of shares but have large voting rights of 50% or more. So there are 2 shares, RO (with higher voting rights, but with low liquidity since majority are held by the Roche family) and ROG (no voting rights, but more liquid). ROG (34x ++) is cheaper than RO (39x ++) as people value the rights to vote. As a return for the "stripped" voting rights, the Roche family has kept the balance sheet of the company in very good shape, their net debt is just a few months of earnings and AA3 rated, similar in level to Nestle. https://wikirating.org/list-of-corporations...-credit-rating/ 

Novartis balance sheet a bit worse than Nestle and Roche (A-range rating), but I like their generic drug division, Sandoz for revenue diversification (barring their price fixing litigation issue). Roche and Nestle both has a Level I ADR in US, but they can only be traded OTC (they don't file 20-F) and I can't buy them on IBKR even after checking all US trading permissions. Novartis has a Level II ADR that trades actively on NYSE however.

As for fractional shares, I remember I saw fractional shares options in the drop down box, you can see the screenshot below:



I have not tried them though.

Another suggestion for dividend reinvestment is since Novartis share price is very low compared to Roche and Nestle, you can use the dividends earned from Nestle and Novartis to buy Novartis, if the amount is not too small. Novartis share price is around 7x CHF, compared to Roche 34x and Nestle 11x. Otherwise, you can look at the SMI Index list (link above) and see if you can find other counters to buy. UBS, Zurich Insurance, ABB, Alcon etc. In the worst case, just keep the CHF and it will appreciate vs MYR over the long run.

Regarding conversion, I have shown that you can use Wise multicurrency account to fund CHF in IBKR, you can try that too (keep the fund origination document as proof though).

As for investment portion, 3 counters should account for around 7-10% of a 30-40 stock portfolio, but as keep adding other shares into it, can expect that number to drop further to 3-5% over time. Now queuing for ROG and NESN.

Takudan I have found out how to buy those OTC Pink counters on IBKR.

It involves some "cheating".

You can read the reply from IBKR below:



It's rather funny that they group level 1 ADRs as penny stocks when Nestle and Roche are 200-300 billion USD companies.

But beware of liquidity risk though.

Hi. Anybody here purchase china stock using HK China stock connect IBKR?

I have been asking for permission for many days, but haven't get the approval.

You are not interested to buy china stock? i go thru their list of companies, not bad actually the performance of their stock. shanghai + shenzen exchange itself is as big as nasdaq market cap.

he meant ccp glc easy ban by usa for its selfish reason... ppl holding them gg...

Hello all, newbie here.

I've just started dipping my toes into the investing world. I have no one irl to refer to on whether my understandings are correct, hope fellow sifus can help with my dumb questions

I am aware that investing in Ireland-domiciled ETF can save 15% tax compared to USA. But US allows to buy in fraction which is ideal for me currently, as I want to start slowly with my extra cash in hand 

1. Say I invest in a US ETFs, I will receive dividends back into my account. And this dividend will be charged a 30% tax. Other than that is there any other fees/tax that will be charged later on? And is the situation the same if I buy (fraction) shares from a single company like Tesla?

2. Does accumulating means I will be buying more shares with the dividends? and I profit through selling these shares?

3. What about accumulating ETFs on LSE? As far as I know there's no fractional shares option on LSE? Then where will the accumulation go?

Nestle results today at 2:15 pm

https://www.nestle.com/media/mediaeventscal...ll-year-results

No class in the afternoon, might join the press conference and investor call

Guys , anybody recently just open CIMB SG?
For the SGD1,000. The banker from SG called me and say must transfer via their direct transfer from cimb clicks and not WISE or other 3rd party platform..
Can i just transfer like a few ringgit then transfer SGD1,000  from WISE?

Their rates so much difference from WISE

Cimb: 3.118
Wise: 3.085 (after Fees)

Dear Sifu/s, just wanna ask how regular you guys topup? let's say i plan to have a commitment of investing Rm200/month into IBKR,  should i hold and topup every couple of month or there's not much impact?

Takudan have you tried claiming your Nestle WHT from Swiss FTA before? Just want to know the details of the TT fees charged. If I use a local bank account like Maybank I need to pay for the inbound TT fees? What if I use my SG CIMB account, since the TT fees are waived, I presume that can be used to receive the money (i.e., in SGD)?

Thanks.

but I don't see sustained recurrent business income stream in this sector. Most of us will just use a keyboard and mouse (or just a mouse if you already have a laptop). And chances are your keyboard and mouse can last a few years before you change them. So you don't have a recurrent revenue stream like the printer industry (e.g. Canon) or the medical diagnostic industry (Roche diagnostic division, Thermofisher Scientific etc.) where you need new toner, inks and test kits for each use and trial.

The only feasible (and pretty immoral) way of increasing revenue is to make your products spoil more easily. (I notice my mouse can last only 3-5 years these days, then the left-button no longer functions, compared to the old ones... Or maybe I didn't use it correctly.  )

Is there any reason not to delink from TSG?

I used to have an account with TSG, but IBKR model improved a lot, but I haven't gotten around to delinking.

Anyone still with TSG?

I haven't tested the new ibkr/wise integration... maybe that is cheaper still...