Core Viewpoint - The cross-border internet brokerage firms are tightening their account opening policies for mainland residents, shifting from requiring "overseas living and working proof" to "overseas identity documents" [2][10]. Group 1: Policy Changes - Futu and Tiger Brokers now require mainland clients to provide overseas residency identification for account opening, with specific documentation needed [2][3]. - The adjustment reflects a broader trend of tightening access for mainland investors to Hong Kong and U.S. stock markets, with several firms implementing stricter requirements throughout the year [2][6]. Group 2: Documentation Requirements - To open an account, mainland clients must submit two documents: a valid mainland identification (such as ID card or passport) and a Hong Kong or Macau identification [3][5]. - Acceptable proof of overseas residency includes recent utility bills, bank statements, or government-issued documents, all dated within three months [4]. Group 3: Regulatory Context - The tightening of account opening policies is part of ongoing regulatory scrutiny that began in 2021, aimed at curbing illegal cross-border brokerage activities [8][9]. - The China Securities Regulatory Commission (CSRC) has emphasized the need to prevent unlicensed foreign entities from soliciting mainland investors and has mandated compliance with local laws [9].

Core Viewpoint - The tightening of account opening policies for mainland residents by cross-border internet brokerages such as Futu and Tiger Brokers reflects increased regulatory scrutiny and a shift towards requiring overseas residency documentation for account applications [2][9][12]. Group 1: Policy Changes - Cross-border internet brokerages have changed their account opening requirements for mainland clients from "proof of overseas living or working" to "overseas residency identification" [2][5]. - Futu Holdings and Tiger Brokers now require mainland clients to provide valid mainland identification (such as ID card or passport) along with identification from Hong Kong or Macau for account opening [5][6]. - Other overseas residency documents are currently not supported, but there are plans for system upgrades to include them in the future [5][6]. Group 2: Industry Trends - The tightening of account opening channels for mainland clients has been ongoing throughout 2023, with several brokerages like Interactive Brokers and Changqiao Securities implementing similar restrictions [9][10]. - The regulatory environment has been increasingly stringent since 2021, with the China Securities Regulatory Commission (CSRC) taking steps to curb illegal cross-border brokerage activities [11][12]. - The CSRC's measures include prohibiting unlicensed foreign institutions from soliciting mainland investors and restricting new account openings while allowing existing investors to continue trading under strict regulations [12][13]. Group 3: Implications for Investors - Investors seeking to open accounts with these brokerages must now provide substantial proof of their overseas residency, which may limit access for many potential clients [8][10]. - The changes are seen as a response to the increasing enforcement of tax regulations and compliance with international standards, particularly under the Common Reporting Standard (CRS) [14].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 富途证券内地居民开户需持有海外永居身份证明；老虎证券仅接受持有非中国内地身份证件的客户申请 开户。 跨境互联网券商富途证券、老虎证券进一步关闭了中国内地居民的开户通道。 9月22日，第一财经记者了解到，根据最新监管要求，富途证券开户条件有所变更，目前中国内地客户 开户需持有海外永居身份证明。富途牛牛客服强调，现在公司正在进行系统升级，现阶段仅支持有中国 香港或澳门身份证的客户开户；待系统升级完成后，客户可使用内地身份证+海外永居身份证明进行开 户。 相较于总部位于新加坡并在中国香港、中国内地等地展业的长桥证券，以及分别向新西兰、中国香港税 务部门上报用户信息的老虎证券、富途证券等，盈透证券总部位于美国，不参与CRS（共同报告标准） 框架下的税务信息交换，不少人认为可以借此规避国内税务部门对其境外所得的监控。 第一财经记者以客户身份咨询时，老虎证券客服也表示，应监管最新要求，公司调整了关于中国内地居 民的开户政策，自上周开始不再接受中国内地居民通过提供境外工作或生活相关证明文件开户，仅接受 持有非中国内地身份证件的客户申请开户。 今年以来 ...

Core Viewpoint - The tightening of account opening policies for cross-border internet brokers targeting mainland residents has been implemented, with several firms, including Futu Holdings and Interactive Brokers, now requiring proof of long-term overseas residence or employment instead of the previous "stock proof" method [1][2][5]. Group 1: Policy Changes - Interactive Brokers has updated its account opening requirements, necessitating long-term overseas living or working proof for mainland investors, as the previous stock proof method is no longer accepted [2][5]. - Other brokers, such as Futu Holdings and Long Bridge Securities, have also adjusted their policies to comply with regulatory requirements, limiting account openings to those who can provide valid overseas proof along with a mainland ID [5][6]. Group 2: Regulatory Environment - The regulatory environment for cross-border internet brokers has been tightening since 2021, with the People's Bank of China and the China Securities Regulatory Commission (CSRC) emphasizing the need for compliance and the prohibition of illegal financial activities targeting mainland investors [7][8]. - The CSRC has been actively working to rectify illegal cross-border operations, including prohibiting firms from soliciting mainland investors and opening new accounts without proper licensing [7][8]. Group 3: Market Impact - The increased account opening requirements are expected to significantly raise the barriers for mainland residents wishing to invest through cross-border internet brokers, potentially leading to a decline in new account openings [5][6]. - The changes come amid a broader context of enhanced tax compliance measures in China, particularly under the Common Reporting Standard (CRS), which has prompted many investors to seek brokers in non-CRS jurisdictions [4][6].