Just saying don't underestimate the process.The IRS tax form...

Just saying don't underestimate the process.

The IRS tax form "W-8BEN" is trivial. Aust has a tax treaty with US. And that just means you get a "Foreign Tax Credit" for the taxes the IRS will take. Tax on dividends isn't an issue since SEA does pay any. Capital gains may or may not be of concern. FX is going to cost you both ways (and for example CBA/CommSec isn't competitive for retail. Citibank is). Your taxes just got more complicated on trading. Trust me.

Anyone can hold the shares (SNDE will go away as its a ADS. It will also be reconstituted since its 10 ASX shares, I believe). It a question of WHY hold the shares if you are domiciled in Australia. Why hold say Apple shares (which on its own trades more in value (~US$6B than the entire ASX (~AU$5B) on most days). Maybe you crave the liquidity it represents or its technology leadership position and there is no comparable ASX listed stock. That's not really the case for SEA, unless you really wanted exposure to US shale drillers (and then one might argue why you wouldn't buy the ETF for that).

It's a game of musical chairs now ... people who believe there is value in SEA and want to own it but don't want the hassle (and added risk) of dealing with a future individual foreign stock holding. That sums me up ... I've got plenty of international exposure directly and indirectly but I don't want it (or more correctly more of it) with SEA in my SMSF.

I was just looking forward to being back in the black too. Perhaps after the dust settles.

I'm not buying some of the rational given ... yes I agree being NASDAQ listed gives the ability for SEA to use their scrip in a corporate transaction (as in most likely no US company would accept a M&A transaction which has part of it funded with ASX listed scrip), but how likely is SEA to be an acquirer? I thought we were the ones supposedly going to be rolled up. Accepting EOG shares (US$80/sh) at say 1 EOG share for 500 SEA.AX shares is a different animal altogether.

I'm voting no but it won't make a difference.