Moving to Hong Kong

What you need to know

Background

Total population: 6.99 million at mid-2006

Languages: English, Cantonese, Putonghua

Location: Situated at the south-eastern tip of China, Hong Kong has a total area of 1,104 square kilometres, covering Hong Kong Island, Kowloon peninsula and the New Territories (which includes 262 outlying islands).

Climate: Summer is from mid-April to September and is hot, humid and rainy. Typhoons can be expected from May to November. Temperatures can drop below 10 degrees Celsius in winter and exceed 31 degrees Celsius in summer.

Traditional Festivals: The four day long Chinese New Year takes place in January or February and is one of the most important festivals of the year. Other festivals include Tin Hau Festival, Dragon Boat Festival, Mid-Autumn Festival, with special traditions and celebrations taking place.

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Local Information

Transportation: Hong Kong has a reasonably priced and vast public transport system which includes railways, trams, buses, public light buses, taxis and ferries, covering all parts of the city.

Banking hours: 9:00am to 4:30pm / 5:00pm Monday to Friday, and selective branch opening on Saturday. ATMs are available in convenient locations throughout the city. All the main credit cards and travellers cheques are accepted in major institutions and an ever-growing number of shops and restaurants.

Electricity: 200/220V AC 50Hz

Plug type: Majority are 3 square pins

Health: Hong Kong's general health indices compare favourably with those in Western countries. The hospitals are among the finest and best equipped in the world. Comprehensive medical facilities and specialist services are available throughout Hong Kong. There is no National Health Service, and medical advice and treatment have to be paid for individually. However, government medical services are available to all residents at a nominal charge.

Education: In September 2002, there were 777 kindergartens, 803 primary schools and 499 secondary schools which can be government-owned, subsidised or privately-run. The Government provides nine years' free education for every child aged under 15 - six years' primary and three years' secondary schooling. There are both local and international schools in Hong Kong

Exchange Rate: Since October 1983, Hong Kong has adopted the linked exchange rate system under which the Hong Kong dollar has been linked to the US dollar at the fixed rate of HK$7.80 to US$1.

Taxation: Under the territorial source concept, only income arising in or derived from Hong Kong is chargeable to tax. Profits from any trade, business or profession carried on in Hong Kong are chargeable to profits tax at 17.5 per cent for corporations and at the standard rate of 16 per cent for other businesses. Income from employment is charged with salaries tax which is calculated on a sliding scale after deducting various allowances. Salaries tax is however limited to the standard rate of 16 per cent on the gross income before deduction of allowances. Property tax is charged on the owner of any land and/or buildings in Hong Kong at the standard rate of 16 per cent on the annual rent receivable less a statutory deduction of 20 per cent for repairs and outgoings. Find out more about tax in Hong Kong.

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Visas

Passport validity: A passport with 6 months' validity is required for all visitors

Visitor's visas: No visa or entry permit is required for any purpose if you hold any of the following travel documents:

• Hong Kong Special Administrative Region Passport
• British National (Overseas) Passport
• Hong Kong Certificate of Identity
• Hong Kong Re-entry permit (for entry from mainland China and the region of Macau only)
• Hong Kong Seaman's Identity Book
• Hong Kong Document of Identity for Visa Purposes, provided that the document is valid or the holder's limit of stay in Hong Kong has not expired
• Travel documents bearing one of the following endorsements: "Holder's eligibility for Hong Kong permanent identity card verified", "The holder of this travel document has the right to land in Hong Kong. (Section 2AAA, Immigration Ordinance, Cap. 115, Laws of Hong Kong)"
• Hong Kong Permanent Identity Card

Visa application: Visa applications for visits, which include both transit and leisure/social/business visits, to the HKSAR can be submitted to the Chinese diplomatic and consular mission (CDCM) closest to a person's place of domicile. Alternatively, they can be forwarded to the HKSAR Immigration Department by either of the following methods:

1. Direct postal application; or
2. Submission through a sponsor in the HKSAR

Driver's licences: Hong Kong driver's licences are required to drive a private vehicle. An international driving permit is valid for up to one year. Most overseas licence holders whose residency in Hong Kong will not exceed 12 months may drive on the strength of their valid overseas driving licence.

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Accommodation

Most accommodation in Hong Kong are apartments in high rise buildings. If you have children, you may wish to check the recreational facilities on offer in the block. Given the comprehensive public transport services and size of Hong Kong, commuting between home and office is not an issue.

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Pets

If you intend to bring your pet with you to Hong Kong, please note that quarantine restrictions of up to 4 months may apply. Please check with a reputable pet relocator for the latest details.

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HSBC in Hong Kong offers a comprehensive range of banking and wealth management services. Click on the links below to find out more details:

Banking Services
Investment Services
Credit Cards
Mortgage Services
Loans
Insurance
Financial Planning
Residence Entry to Hong Kong - Capital Investment Entrant Scheme
Tax Consultation Referral Service

Disclaimer:
This section is intended as a general guide for reference only. Benefits and features may be subject to local country regulatory restrictions. Please refer to the Premier Service Guide for detailed information.
The information contained in this section should not be relied upon as a substitute for professional advice in individual cases. Future changes in legislation, tax levels and practice could affect the information on this site.
The information shown is based on date or information obtained from sources believed to be reliable, but HSBC makes no representation and accepts no responsibility as to its accuracy or completeness, and will not be held liable for damages arising out of any person's reliance upon this information.
Information sourced from Census and Statistics Department, Immigration Department, and Information Services Department of Hong Kong SAR.