Frequently asked questions
You can buy Bitcoin in Hong Kong on a large number of exchanges, domestic and foreign. In some cases, you’ll be able to make purchases using the Hong Kong Dollar.
In Hong Kong, income from the sale of capital assets is tax-free. You don’t need to declare how much you’ve bought, sold, or own. There’s no VAT regime, either. If you’re a professional trader, however, then you will be obliged to declare and pay tax.
In May 2021, government proposals in Hong Kong put forward the idea that all exchanges operating in the region would have to be a licensed by the city’s market regulator. Moreover, only professional investors would be allowed to use them. This followed a lengthy consultation between markets and the Financial Services and Treasury Bureau.
In order to qualify as a ‘professional investor’, under Hong Kong law, you’ll need a portfolio of more than HK$8 million. These changes are set, at the time of writing, to go through in the legislative assembly’s 2021-22 session.
Of course, even after these changes go through, residents of Hong Kong will still be able to use foreign exchanges to invest in Bitcoin. You can find many of them available for comparison here on Cryptoradar.
Bitcoin is the first decentralized digital currency and the leading cryptocurrency worldwide. Bitcoin serves as a store of value and is therefore often referred to as digital gold. Read our guide on Bitcoin to learn more about this cryptocurrency.
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