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TLDR: OFWs in Singapore and Hong Kong can open a PSE account through First Metro Sec, which accepts Singapore (+65) and Hong Kong (+852) mobile numbers during registration. COL Financial and Philstocks are also viable options. Fund your account via FAST transfer (Singapore) or CHATS/FPS (Hong Kong) to your Philippine bank, then InstaPay to your broker. Singapore and Hong Kong OFWs earn in strong currencies — SGD 1 = PHP 42.50 and HKD 1 = PHP 7.35 as of May 2026 — giving them significantly higher purchasing power in the PSE.
Singapore and Hong Kong are unique among OFW destinations: they are financial hubs with sophisticated banking systems, high average salaries, and zero capital gains tax. Filipino workers in these city-states earn significantly more than their counterparts in the Middle East, giving them the highest savings capacity of any OFW group. The Philippine Stock Exchange (PSE) is the primary stock market for Filipino investors worldwide. An estimated 200,000 Filipinos work in Singapore and another 180,000 in Hong Kong, according to the Philippine Embassy in Singapore and the Philippine Consulate in Hong Kong as of May 2026. This guide covers the specific process for opening a PSE account from these two financial centers.
For a general overview of the entire process, start with our PSE Account OFW Guide. For OFWs in other destinations, read our guides for Saudi Arabia and UAE.
Can OFWs in Singapore and Hong Kong Open a PSE Account?
Yes. Both Singapore and Hong Kong have no restrictions on foreign nationals investing in overseas stock markets. The Monetary Authority of Singapore (MAS) and the Hong Kong Securities and Futures Commission (SFC) do not regulate PSE investments, so no local approval is needed. The only requirements are the standard PSE broker conditions: Filipino citizenship, a Philippine residential address, and a valid Philippine passport. The Bangko Sentral ng Pilipinas (BSP) oversees foreign exchange regulations for OFW remittances and investments.
The biggest advantage for OFWs in Singapore and Hong Kong: both countries have real-time payment systems (FAST in Singapore, FPS in Hong Kong) that connect directly to Philippine banks through correspondent banking networks. A transfer from DBS Singapore to BDO Philippines can arrive within hours, not days. For comparison, a similar transfer from Saudi Arabia takes 2-5 business days.
Which Broker Should OFWs in Singapore and Hong Kong Choose?
| Broker | Minimum Deposit | Commission | Mobile Number Accepted | Best For |
|---|---|---|---|---|
| First Metro Sec | PHP 10,000 (SGD 235 / HKD 1,360) | 0.5% | ✅ +65 and +852 accepted | OFWs without a working PH SIM |
| COL Financial | PHP 5,000 (SGD 118 / HKD 680) | 0.25% | ⚠️ PH SIM required for OTPs | Cost-conscious, frequent traders |
| Philstocks | PHP 5,000 (SGD 118 / HKD 680) | 1.0% | ✅ Email OTPs — no SIM needed | Long-term holders, zero monthly fees |
For OFWs in Singapore and Hong Kong, a common challenge is that Philippine SIM cards expire after 6-12 months of non-use. If you no longer have a working Philippine SIM, First Metro Sec and Philstocks are your best options — First Metro accepts your Singapore or Hong Kong mobile number directly, and Philstocks sends OTPs via email.
For a detailed comparison of all five PSE brokers, read our PSE Broker Comparison guide.
Step-by-Step: Open a PSE Account from Singapore or Hong Kong
Step 1: Choose Your Broker
If you still have a working Philippine SIM (Globe/Smart prepaid that you top up occasionally), COL Financial offers the lowest fees at 0.25% commission. If your Philippine SIM has expired, choose First Metro Sec (accepts +65 or +852 mobile numbers) or Philstocks (OTPs via email).
Step 2: Prepare Your Documents
- Philippine passport — color scan, 300 DPI minimum
- Proof of Philippine address — utility bill or bank statement under your or your family’s name at your Philippine home address
- TIN number — request a verification slip from the Bureau of Internal Revenue (BIR) online portal if you lost your card
- Proof of overseas employment — employment contract, work permit, or employer ID (required by some brokers to verify OFW status)
Step 3: Complete the Online Application
Submit your application through your chosen broker’s website. First Metro Sec’s mobile app is the smoothest for Singapore and Hong Kong OFWs because it accepts international mobile numbers during registration — your Singapore +65 or Hong Kong +852 number works without modification. COL Financial and Philstocks also work, but COL requires you to receive OTP text messages on a Philippine SIM.
Step 4: Fund Your Account from Singapore or Hong Kong
| Method | Time | Fees | Notes |
|---|---|---|---|
| FAST transfer (SG bank → PH bank) | Same day (1-4 hours) | SGD 10-20 | Works with DBS, OCBC, UOB — fastest from Singapore |
| CHATS/FPS (HK bank → PH bank) | Same day | HKD 50-150 | HSBC, Standard Chartered — instant settlement |
| Wise (TransferWise) | 1-2 days | 0.5-1.0% | Best exchange rate, mid-market rate with transparent fee |
| GCash via roaming PH SIM | Real-time | PHP 25 (InstaPay) | Best for small deposits (PHP 5,000-20,000) |
The most efficient method from both Singapore and Hong Kong: use Wise to convert SGD or HKD to PHP at the mid-market rate (0.5-1.0% fee, no hidden markup), then use InstaPay to transfer from your Philippine bank to your broker. Total cost: typically 1.0-1.5% of the transfer amount — significantly less than bank wire fees.
WorldNgayon may earn a small commission when you use our Wise link, at no extra cost to you.
Step 5: Trade from Singapore or Hong Kong
PSE trading hours (9:30 AM to 3:30 PM PHT) translate to 9:30 AM to 3:30 PM in both Singapore and Hong Kong (UTC+8, same time zone as Manila). This is the most convenient time zone alignment among all OFW destinations — the entire trading day falls within normal working hours in Singapore and Hong Kong. You can place trades during lunch break or before the workday ends.
Tax Considerations for Singapore and Hong Kong OFWs
Both Singapore and Hong Kong have territorial tax systems — you only pay tax on income earned within the country. Key implications:
- Singapore: no capital gains tax, no dividend tax on foreign stocks. Your PSE capital gains are tax-free in Singapore
- Hong Kong: no capital gains tax, no dividend tax. Same treatment as Singapore for PSE investments
- Philippine withholding tax of 10% applies to PSE stock dividends for non-resident Filipinos
- Philippine stock transfer tax (0.6% on selling) applies regardless of where you live
Singapore and Hong Kong are the most tax-efficient OFW destinations for PSE investing because you pay zero local tax on investment gains while benefiting from strong currencies that buy more PSE stocks per dollar earned.
For recommended stocks to buy, read our PSE Blue Chip Stocks guide. For a comparison of PSE investing against other options like Pag-IBIG MP2 and government bonds, see our Bonds vs Stocks guide.
Frequently Asked Questions
Hostinger — WorldNgayon may earn a small commission when you use our link, at no extra cost to you.
Not financial advice: This article is for educational purposes only. Exchange rates, broker fees, and tax policies are subject to change. Verify current rates with your broker and tax advisor before making investment decisions. The stocks mentioned are for illustrative purposes only.
Last reviewed: May 2026
Disclaimer: This article is for educational and informational purposes only and does not constitute financial, investment, or legal advice. Always conduct your own research and consult a licensed professional before making any financial decisions.
Last reviewed: May 2026
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Editorial Note: This article was researched and drafted with AI assistance, then reviewed, verified, and approved by Edmon Agron. All financial figures have been cross-checked against official sources.
WorldNgayon may earn a small commission when you use our affiliate links, at no extra cost to you.
