ETF

Save on Dividend Withholding Taxes with UCITS ETFs Now Available on Syfe

Calvin Lo

I just recently discovered that Syfe is now offering UCITS ETFs on their brokerage platform since Feb this year (yes, I’m quite lagged). I’ve been gradually shifting my ETF holdings from US-domiciled to Irish-domiciled UCITS ones to save on dividend withholding taxes, so finding out that another broker platform offering UCITS ETFs got me excited.

For the uninitiated, UCITS ETFs (mostly Irish-domiciled and listed on LSE) are only subject to 15% dividend withholding tax as opposed to 30% for US-domiciled ones. By investing in UCITS ETFs you can save quite a big chunk of your dividends. Of course there’s no difference for ETFs that don’t pay dividends like Invesco QQQ Trust (QQQ).

So far, I’ve been shifting over my holdings on Vanguard Total World Stock Index Fund ETF (VT) over to Vanguard FTSE All-World UCITS ETF USD (VWRA and VWRD). VWRA and VWRD are the accumulating and distributing versions respectively but otherwise are exactly the same in other aspects.

On FSMOne, I’ve redirected recurring monthly RSP to VWRA instead of VT. On StanChart online equities, I’ve been adding VWRD and trimming VT whenever the opportunity for rebalancing comes.

The thing I like about Syfe is the easy-to-use user interface on the app. As at time of writing, Syfe is offering promotional fees of $0 for UCITS ETFs on their brokerage platform so it’s a good time to try it out if you’re interested.

If you’re new to Syfe, from now till 31 July 2025, you can earn double the rewards when you sign up using my REFERRAL LINK. More details on the campaign here.

Read: Here’s Why Singaporeans Should Buy UCITS ETFs – by MoneySmart

Important things to note:

  • Tax advantage – UCITS ETFs are only subject to 15% withholding tax on dividends vs 30% withholding tax applied to US ETFs.
  • Fractional trading – You can start investing from just US$1.
  • Trading schedule – Note that UCITS orders are not executed in real-time and will only be executed weekly on Tuesdays.
  • Auto-invest – You can automate your investments on a periodic schedule with a minimum US$50.
  • Promotional fees – Syfe is currently not charging any fees (pay$0 per trade) for UCITS ETFs on promotional basis.
  • ETFs available – Syfe currently offers 6 UCITS ETFs: VWRA, CSPX, EIMI, XDEW, XDWL and IHYU.

Find out more on Syfe website.

Happy investing and saving on taxes!

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Disclaimer: This is not financial advice. I am not professional financial advisor nor do I work in the finance industry. Anything I write here is purely my personal opinion. Please do your own research and due diligence before investing into anything. All investments come with associated risks. Best to consult a financial advisor if you’re still unsure.

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