<div id="readability-page-1"><div><div><h2>Chinese Regulators Tighten Rules On Overseas Brokerage Accounts For Mainland Residents</h2><p>Two of Asia’s largest online brokerages, Futu Securities and Tiger Brokers, have tightened their account-opening policies for mainland Chinese residents following new regulatory guidance.</p><p>The changes mean applicants must now present proof of permanent residency outside mainland China before they can trade through these platforms.</p><div><div><blockquote><p dir="ltr" lang="en">Online brokers Futu Securities and UP Fintech Holding, known in Asia as Tiger Brokers, have halted new account openings for Chinese mainland clients due to stricter policies after the implementation of new regulatory requirement, Yicai learned from sources. pic.twitter.com/YE5S6f4bfC</p>— Yicai 第一财经 (@yicaichina) September 23, 2025</blockquote></div></div><p>Futu’s customer service confirmed that its system is undergoing an upgrade and, for now, will only process new accounts for people holding Hong Kong or Macau identity cards.</p><p>After the upgrade, mainland Chinese IDs will be accepted only when paired with overseas permanent residency documents.</p><p><img src="https://imageproxy.pbkrs.com/https://image.coinlive.com/cryptotwits-static/23b22e49c89a86916f56ce60460540e2.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1410" height="1043" original-src="https://imageproxy.pbkrs.com/https://image.coinlive.com/cryptotwits-static/23b22e49c89a86916f56ce60460540e2.jpg"/></p><p><em><span>According to Futu’s bot, mainland Chinese citizens are now required to provide overseas permanent residency documents in order to sign up for a new account.</span></em></p><p>Tiger Brokers has taken an even stricter stance, stopping acceptance of mainland applications based solely on overseas work or lifestyle documents.</p><h2>Longer Path To Compliance And Higher Proof Of Residency</h2><p>The fresh restrictions demand stronger evidence of a life abroad.</p><p>Previously, Futu allowed mainland clients to register if they could prove overseas employment or residence, such as a local work visa or tax records.</p><p>Tiger Brokers followed a similar policy.</p><p>Now, only those with non-mainland identification can open accounts, effectively closing a key door to global equities for many Chinese investors.</p><p><img src="https://imageproxy.pbkrs.com/https://image.coinlive.com/cryptotwits-static/c303e666f966e55a59db15f903a085c6.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1410" height="739" original-src="https://imageproxy.pbkrs.com/https://image.coinlive.com/cryptotwits-static/c303e666f966e55a59db15f903a085c6.jpg"/></p><p>Customer service lines for both companies still give the earlier instructions via automated messages, suggesting the transition is gradual.</p><p>Neither company has issued public statements or blog posts about the latest measures, and executives including Li Hua of Futu and Wu Tianhua of Tiger Brokers have remained silent.</p><h2>Tax Enforcement Drives The Regulatory Clampdown</h2><p>Chinese business media point to a tightening of tax collection on offshore earnings as a key backdrop.</p><p>Since the second quarter of this year, many mainland residents trading Hong Kong and US stocks have received tax notices from local authorities.</p><p>Regulators are reportedly seeking to curb the use of overseas brokerage accounts to avoid domestic tax obligations.</p><p>The clampdown is not limited to Futu and Tiger.</p><p>In August, Interactive Brokers, the world’s largest online brokerage by market share, began restricting account openings for mainland residents and removed its app from Chinese app stores.</p><p><img src="https://imageproxy.pbkrs.com/https://image.coinlive.com/cryptotwits-static/b679dbe938a1d976303aae2baf7885d2.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="349" height="589" original-src="https://imageproxy.pbkrs.com/https://image.coinlive.com/cryptotwits-static/b679dbe938a1d976303aae2baf7885d2.png"/></p><p><em><span>Interactive Brokers (IBKR) requires clients to provide proof of long-term residence or work authorisation outside of mainland China.</span></em></p><p>Singapore-based Longbridge Securities also stopped new mainland registrations earlier this year and pulled its app from local platforms.</p><h2>Regulatory History Behind The Restrictions</h2><p>This latest tightening follows a 2022 order from the China Securities Regulatory Commission (CSRC), which ruled that Futu and Tiger had operated cross-border securities businesses without approval.</p><p>The regulator instructed both companies to halt the onboarding of new mainland customers and to “effectively control new inflows and manage existing accounts.”</p><p>At the time, clients who had already opened accounts were allowed to continue trading, provided any new funds complied with China’s foreign-exchange controls.</p><p>Since then, both firms have gradually increased the hurdles for new applicants—from requiring proof of overseas employment to demanding full overseas residency.</p><h2>Alternative Routes For Investors Still Exist</h2><p>Industry commentators note that mainland investors still have legal avenues to access Hong Kong stocks, such as the Stock Connect programme or exchange-traded funds listed domestically.</p><p>Tax specialists add that these regulated channels offer simpler tax treatment and avoid the risk of future policy changes that could further limit offshore trading.</p></div></div></div>

FUTU

<p>Mainland Chinese investors face new restrictions as Futu Securities and Tiger Brokers require proof of overseas residency to open accounts. This follows regulatory guidance aimed at tightening control over offshore trading and tax compliance. Both firms have halted new account openings for mainland clients, now only accepting those with non-mainland identification. The move reflects a broader clampdown on overseas brokerage accounts to enforce tax obligations, impacting access to global equities for many investors. Alternative routes like the Stock Connect program remain available for trading Hong Kong stocks.</p>

- Chinese regulators have imposed stricter rules on overseas brokerage accounts for mainland residents, requiring proof of permanent residency outside China for new account openings.  
- Futu Securities and Tiger Brokers have halted new applications from mainland clients, now only accepting those with non-mainland identification, reflecting a broader regulatory clampdown linked to tax enforcement on offshore earnings.  
- This follows a 2022 directive from the China Securities Regulatory Commission, which previously restricted these firms from onboarding new mainland customers, while alternative investment routes remain available for mainland investors.  

Mainland Chinese Investors Blocked From Opening New Accounts As Futu and Tiger Brokers Demand Overseas Residency Proof