Global investing map
The same Nasdaq-100 is taxed very differently depending on where the fund is registered. Here is what you can buy across 29 jurisdictions, organised by where you live, with the domicile, fee and size of each.
What decides which Nasdaq-100 ETF a non-US investor should own is never the 0.05pp fee difference — it is the country the fund is registered in.
A non-US tax resident holding a US-domiciled ETF faces up to 40% US estate tax on everything above the $60,000 exemption. Irish-domiciled UCITS ETFs are not US-situs assets and fall outside this entirely.
US-domiciled ETFs withhold 30% when paying a non-US resident. An Irish UCITS is withheld at just 15% inside the fund, and the US does not tax the investor a second time on the distribution.
The most-confused point: 3455 trades in Hong Kong dollars on HKEX but is registered in the US, so estate tax still applies. 3086 trades on the same exchange, tracks the same index, and is registered in Hong Kong — no such problem.
Pick one region and see only that one. Grouped by tax jurisdiction rather than geography — Asia-Pacific, Europe and MEA all face the same problem. Regions marked "—" list nothing locally, but still carry the routes and substitutes that work.
United States
Greater China
Asia-Pacific
Europe
Americas
Middle East & Africa
Nasdaq / NYSE Arca
Tax
US tax residents face no withholding or estate-tax friction: qualified dividends are taxed at 0/15/20% and the lifetime estate exclusion is far above typical household wealth. Trades inside a 401(k) or IRA are not currently taxed.
Access
Any broker works. Schwab, Fidelity, Vanguard and IBKR all offer commission-free ETF trading.
上交所 / 深交所
Tax
You hold units of an onshore fund, not US assets, so US estate tax does not apply; US dividend withholding is paid at the fund level. Capital gains on onshore fund units are currently exempt from individual income tax.
Access
Buy on-exchange through any broker app, exactly like a stock. The source material recommends brokers over banks. For off-exchange QDII funds see our /qdii page.
Watch out
QDII FX quotas mean many funds are suspended or capped for creations (flagged in the table), and on-exchange prices routinely trade at a premium. Always check the day’s premium/discount before buying.
HKEX
Tax
Hong Kong itself levies no capital gains or dividend tax. That does not make every ticker equivalent: a US-domiciled fund trading in Hong Kong (3455) still carries US estate tax and 30% dividend withholding, while a Hong Kong-domiciled ETF does not.
Access
Local brokers and banks all work. Many funds list both HKD and USD counters (3086 / 9086) — pick the one matching the currency you already hold to avoid an extra conversion.
Watch out
The source material’s claim that "Hong Kong has no S&P 500 fund" is out of date: the Hang Seng S&P 500 Index ETF (3195 HKD / 9195 USD) listed in April 2024 — though its fees are well above offshore equivalents.
TWSE
Tax
Distributions from Taiwan-domiciled ETFs count as offshore income under the AMT regime, which most retail investors fall below. Buying US-listed ETFs through a sub-brokerage account instead puts you back under US rules: 30% dividend withholding plus US estate-tax exposure.
Access
Several brokers support automatic monthly investing into 00662, which is the source material’s main recommendation for Taiwan. Sub-brokerage gives access to US ETFs, subject to the tax differences above.
Watch out
Do not confuse them: 00858 tracks the STOXX USA 500, not the S&P 500. The genuine S&P 500 tracker is 00646.
TSE
Tax
Gains inside a NISA are tax-free and it is the default wrapper; both Japan-domiciled ETFs and some US ETFs qualify. The Japan–US treaty cuts US dividend withholding to 10%, far gentler than the usual 30% — but US estate-tax exposure remains.
Access
Rakuten and SBI both work; the source material notes both waive the buy-side commission on QQQ (sell side still charged).
Watch out
2568 and 2569 are the unhedged and hedged versions of the same fund; hedging the yen is rarely advisable for a long-term US equity holding. The issuer, formerly Nikko AM, was renamed Amova in 2025.
KRX
Tax
Distributions from Korea-domiciled overseas-index ETFs are taxed at 15.4%; buying US shares directly instead triggers 22% overseas capital gains tax above a ₩2.5m annual exemption. The ISA wrapper adds further relief and is the default container. Local ETFs carry no US estate-tax exposure.
Access
Korea Investment, Mirae Asset, KB and Samsung broker apps all trade these directly.
Watch out
All three tickers in the source material still work, but two brands were renamed: KBSTAR became RISE (2024) and KINDEX became ACE (2022). Korea’s ETF price war has also pushed RISE 368590 down to 0.01% — compare current all-in fees carefully.
SGX
Tax
Singapore levies no capital gains tax and no personal dividend tax, so the local side is frictionless. Every problem comes from the US side: 30% dividend withholding plus estate-tax exposure on US-domiciled funds. Irish-domiciled UCITS ETFs are the standard answer.
Access
From the source material’s own testing: IBKR, FSMOne and Standard Chartered can all buy Irish-domiciled ETFs on the LSE; HSBC and Citi cannot buy LSE-listed ETFs but can buy Hong Kong’s 2834 and 7261.
Watch out
SGX lists no local Nasdaq-100 or S&P 500 ETF — use the Irish-domiciled tickers in the UK section (CNDX / CSPX). The source material also notes there is no TQQQ equivalent available in Singapore.
Bursa Malaysia
Tax
Malaysia levies no capital gains tax; the exemption for remitted foreign income has been revised several times, so confirm the current rule. As in Singapore, the real costs are the 30% US dividend withholding and estate-tax exposure — both avoided with an Irish UCITS.
Access
The source material notes Malaysian citizens can open a Phillip Securities Singapore (POEMS) account online, which reaches the LSE-listed Irish ETFs. Local brokers and IBKR also work.
Watch out
Bursa Malaysia lists no Nasdaq-100 or S&P 500 ETF — use the Irish-domiciled tickers in the UK section.
ASX
Tax
Australian-domiciled ETFs pass through foreign income tax offsets, which simplifies filing; holding US-domiciled ETFs directly creates US estate-tax exposure. Assets held over 12 months get the 50% CGT discount — the backdrop to the source material’s "borrow against it rather than sell" argument.
Access
CommSec, Stake, Selfwealth and IBKR all work. Stake offers SMSF accounts with US-market access, at roughly A$999/year in audit and accounting fees.
Watch out
IBKR Australia retail clients cannot draw cash against stock: borrowing is capped at A$50,000 and the proceeds cannot leave the brokerage account. Only wholesale/sophisticated status unlocks it.
NZX
Tax
One of the world’s more unusual regimes, and exactly what stumped the New Zealand reader in the source material: directly-held foreign ETFs fall under the FIF rules, requiring annual accounting and tax at your marginal rate of up to 39%. A local PIE fund caps tax at 28% and handles the filing for you. That gap usually dwarfs any fee difference.
Access
Buy the PIE-structured Foundation Series through InvestNow; Hatch, Sharesies and IBKR reach US ETFs directly but leave FIF filing to you.
Watch out
The source material’s "iShares Nasdaq 100 ETF (IQQ) is popular in New Zealand too" cannot be right — IQQ only listed in July 2026. The Smartshares US Large Growth ETF (USG.NZ) it also mentions tracks a US large-cap growth index rather than the Nasdaq-100, and reliable data could not be obtained this round, so it is not listed here.
SET
Tax
Since 2024, Thai tax residents (183+ days) must declare foreign income remitted into Thailand — a tightening that matters especially to long-stay expats. US-domiciled ETFs still carry the 30% withholding and estate-tax exposure.
Access
Local houses (SCB, Kasikorn) offer feeder mutual funds tracking the Nasdaq-100; for ETFs directly, use an international broker such as IBKR and prefer Irish-domiciled products.
Watch out
The SET lists no local Nasdaq-100 or S&P 500 ETF, and local feeder funds typically cost far more than an Irish UCITS — compare all-in fees first.
NSE / BSE
Tax
Indian residents may remit up to $250,000 a year under the LRS, with tax collected at source above a threshold. Buying the locally-listed Nasdaq-100 ETF does not consume LRS headroom, which is why most people use it.
Access
Zerodha and Groww trade MON100 directly; platforms like Vested and Winvesta offer US-market access via the LRS.
Watch out
SEBI caps industry-wide overseas investment at $7bn. When it binds, the entire industry’s foreign funds stop creations — it has happened repeatedly — and on-exchange prices then trade at a marked premium. Check both before buying.
PSE
Tax
The Philippines taxes residents on worldwide income, so foreign investment gains must be declared. US-domiciled ETFs carry the usual 30% withholding and estate-tax exposure; an Irish UCITS is the better route.
Access
Local brokers offer no overseas ETF access; IBKR or a similar international broker is the usual route.
IDX
Tax
Indonesia taxes residents on worldwide income. The IDX lists no Nasdaq-100 or S&P 500 ETF; local access is through Reksa Dana mutual funds, which usually cost more. Buying US ETFs directly brings the 30% withholding and estate-tax exposure.
Access
Use IBKR or a similar international broker to buy Irish-domiciled UCITS ETFs.
HOSE
Tax
Vietnam operates capital controls, and the limits on individual outbound investment bind harder than tax does. Confirm a compliant route before investing offshore.
Access
No local Nasdaq-100 or S&P 500 ETF. Those with offshore status or accounts can buy Irish UCITS through an international broker.
LSE
Tax
ISAs and SIPPs are fully tax-sheltered and are the default wrapper. Irish-domiciled UCITS ETFs sidestep US estate tax entirely; also check the fund carries UK Reporting Fund Status, or gains are taxed as income rather than capital gains — CNDX and CSPX both do.
Access
Hargreaves Lansdown, AJ Bell, Interactive Investor and IBKR all work.
Watch out
Most UK brokers will not let you buy the 3x LQQ3 mentioned in the source material; Hargreaves Lansdown opens it after a short appropriateness test. Leveraged products are rebalancing tools, not long-term holdings.
XETRA / Euronext / Borsa Italiana
Tax
Germany taxes investment income at a flat 25% plus solidarity surcharge, with a basic allowance; France applies a 30% flat tax, though a PEA becomes income-tax free after five years (the source material notes the PEA’s €150,000 cap). In every case, an Irish- or Luxembourg-domiciled UCITS avoids US estate tax.
Access
DEGIRO, Trade Republic, Scalable Capital, finanzen.net zero and flatex all work. The same fund carries different tickers on different exchanges — pick the line with good liquidity in your account’s currency.
Watch out
The LQQ.PA / LQQ.MI / L817.F / L817.DE list in the source material is one 2x fund quoted on four venues, not four products. Leveraged products suit short-term rebalancing only and are not listed here.
SIX
Tax
Switzerland exempts private investors’ capital gains, which is a substantial advantage; dividends are taxed as income and wealth tax applies separately. An Irish-domiciled UCITS remains the standard way to avoid US estate tax.
Access
Swissquote, PostFinance and IBKR all work. What lists on SIX is the same set of Irish UCITS shown in the UK and Eurozone sections, on a different trading line.
Euronext Amsterdam
Tax
The Dutch Box 3 regime taxes a deemed return on assets rather than realised gains — so tax can arise even if you never sell, or lose money. The rules have been under continuous reform; long-term investors should track the current version.
Access
DEGIRO and IBKR both work — buy the Irish-domiciled UCITS listed in the Eurozone section.
BME
Tax
Spain taxes savings income progressively from 19% to 28% and levies wealth tax, with wide regional variation. Note that Spain’s roll-over deferral for switching between mutual funds does not extend to ETFs — which affects long-term rebalancing plans.
Access
IBKR, DEGIRO and local bank brokerages all work — buy the Irish-domiciled UCITS from the Eurozone section.
Euronext Lisbon
Tax
Portugal taxes capital gains at 28%. It became a popular destination on the back of the golden visa and tax breaks, but the original NHR regime closed in 2024 and was replaced by a narrower successor — confirm which rules apply to you before planning around it.
Access
IBKR, DEGIRO and other international brokers all work — buy the Irish-domiciled UCITS from the Eurozone section.
Nasdaq Nordic / Oslo Børs
Tax
The Nordics offer tax-deferred wrappers: Sweden’s ISK and Norway’s ASK and investment accounts tax a deemed return on assets rather than realised gains, which strongly favours long holds. The wrapper restricts what you may buy, though — per the source material’s own testing, Nordnet’s pension account (PEN) cannot hold QQQ, only EQQQ, and the same applies to ASK.
Access
Nordnet is the dominant local broker; the source material documents how its three account types (investment / PEN / ASK) differ in both eligible holdings and when tax falls due. The investment account can trade US securities.
Watch out
The clearest case anywhere of the wrapper dictating the holding: decide the account type first, then the ticker. Doing it the other way round causes grief.
TSX
Tax
Account type decides everything: US-domiciled ETFs held in an RRSP are exempt from the 15% dividend withholding under the Canada–US treaty; inside a TFSA they are not. HXQ’s non-distributing corporate-class total-return structure has no dividend to withhold at all — the reason the source material favours it.
Access
Wealthsimple, Questrade and the big-bank brokerages all work. Wealthsimple now offers a portfolio-secured line of credit at roughly 3.95% above C$500k, capped at 35% of account assets.
Watch out
The source material’s "Horizons / BetaPro" branding is retired — it is now Global X Investments Canada, and QQC is run by Invesco Canada. The CAD-hedged XQQ accumulates hedging costs over long holds.
B3
Tax
Brazil taxes ETF disposals at 15% with none of the small-trade exemption that applies to shares, and you must file it yourself. B3-listed local funds carry no US estate-tax exposure; directly-held US ETFs do.
Access
XP, Rico, Clear and NuInvest all trade these directly.
Watch out
The source material mentions only NASD11 and omits the far larger IVVB11. Both are locally domiciled and traded in reais, so FX moves flow straight into the NAV.
BMV (SIC)
Tax
Mexico has a mechanism few countries offer: the International Quotation System (SIC) lets a local brokerage account trade US-listed ETFs settled in pesos. Convenient — but what you own is still a US-domiciled fund, with the full 30% withholding and estate-tax exposure. That is the part people miss.
Access
GBM+, Actinver and Kuspit offer QQQ, VOO and the rest through the SIC. To escape US estate tax you must instead use an international broker and buy Irish-domiciled UCITS.
BYMA
Tax
Argentines mostly hold US assets indirectly through CEDEARs — depositary receipts including SPY and QQQ equivalents, tradable in pesos, which is the standard workaround for capital controls. But a CEDEAR still sits on US-domiciled assets and adds issuer and custody risk on top; it is not equivalent to owning the ETF.
Access
Balanz, IOL and PPI all trade CEDEARs.
Watch out
Individual CEDEARs are not listed here: their conversion ratios and terms are set by each issuer and change over time — check the broker’s and issuer’s current notices.
ADX / DFM
Tax
The UAE levies no personal income or capital gains tax, which is why it has drawn so many high-net-worth movers. Zero income tax is not zero tax, though: US-domiciled ETFs are still withheld at 30%, and with no US–UAE estate tax treaty the estate exposure is if anything a stronger reason to use Irish-domiciled UCITS.
Access
IBKR, Saxo and local banks’ international platforms all reach the LSE-listed Irish UCITS.
Watch out
Neither local exchange lists a Nasdaq-100 or S&P 500 ETF — use the Irish-domiciled tickers in the UK section.
TASE
Tax
Israel taxes investment income at 25% on real gains. The TASE lists several locally-issued Nasdaq-100 trackers (the "Sal" range), which avoid US estate tax by virtue of local domicile — but documentation is largely in Hebrew and public data is patchy.
Access
Local bank brokerages and IBKR both work — local products trade on TASE, offshore ones through an international broker.
Watch out
Fees and sizes for the TASE-listed products are not shown: reliable figures could not be obtained from authoritative sources this round, and the rule here is to leave unverified fields blank. Check TASE or the issuer directly.
JSE
Tax
South Africa folds a portion of capital gains into income tax with an annual exclusion, and separately limits offshore transfers to R1m discretionary plus R10m foreign investment allowance per year. JSE-listed local funds consume neither allowance and carry no US estate-tax exposure — the main reason locals use them.
Access
EasyEquities, Standard Bank Online Share Trading and other local platforms trade these directly.
Watch out
STXNDQ converted from a feeder to a standard portfolio in January 2025 and switched from total-return to distributing, which limits how far its historical record is comparable.
Data last verified: 2026-08-16
This page organises investment knowledge and is not investment advice. Items marked "CLEC pick" reflect the channel’s own view — make your own judgement. Past performance does not indicate future results.