What to Know Before Moving to Hong Kong

Posted on 14 November, 2021 | By Property852

Ex-pats make up around 10% of the Hong Kong population. Despite recent political problems, people are still flocking to Hong Kong for its job opportunities and high standard of living. But do you know how to prepare for your new life?

If you are looking for property in Hong Kong or employment, we can help. Read on as we discuss how to move to Hong Kong. 

Getting a Visa

If you are moving to Hong Kong, it is likely you are arriving on a working Visa. Getting your company to sponsor this for you and your dependents is the easiest way of entering the country. If not, then you must have a "right of abode" or "right to land". 

For visiting and tourism, the amount of time you can stay depends on your passport. These stays can last between 14 to 180 days. At this time you can not work, but you can get documents in order. 

When you have a working Visa, spouses and children under 18 will require a dependent Visa to reside in the country. This will cover them to work as well, and they do not need a separate working Visa. Any applications should take around four weeks. 

Hong Kong ID Card

If you are planning to stay longer than six months, you need to apply for a Hong Kong ID card within 30 days of arrival. This will be done by visiting an office, and this could take some time. Appointments can be made online in advance. 

When you do your visit, you need a number of items. These include a passport, Visa, fully complete application form, and birth certificates for any children (no copies, original). Photos will be taken during the process but you do not need to pay for these. 

This ID card is used frequently for general services. Therefore, you should keep it on you at all times. You won't be able to rent Hong Kong property without it. 

Working in Hong Kong

There are a number of very popular work sectors in Hong Kong. If you don't have a job offer but want to come, these are the areas you should be looking at. Banking and finance are the biggest employers of international ex-pats in Hong Kong today. 

This does of course bring a number of related jobs with it. Accountancy is a related field in which positions are always on offer. Legal positions also come with the territory. 

As so many ex-pat families live in Hong Kong, international schools are thriving. There are many in the city, from schools based on nationality to ones based on specific teaching methods. It is even possible to find contracts in public schools in Hong Kong. 

Language

There are two languages used in Hong Kong. These are Cantonese and English. Even the most basic grasp of Cantonese will go a long way, not least for networking and showing others you have made an effort to learn.

Octopus Card

Visitors to Hong Kong will notice many locals have an Octopus Card. Primarily, it is for use on public transport. You pre-pay the card then just swipe it when you make a journey. 

The Octopus Card actually has many more uses. You can use it in vending machines and even for parking. They are available at authorised outlets, and you will have to pay a refundable $50 deposit for the card itself. 

Hong Kong Rental Market

When you rent in Hong Kong, you can expect to pay a sizable amount of your income for a property. Prices will vary depending on the area. However, even lower-cost areas can still be expensive. 

One of the most exclusive places to live is the Peak Area. You can expect to pay in excess of $100,000 HKD per month to rent here. Some of the more popular ex-pat areas are Hong Kong Island and Discovery Bay, which can cost around $45,000 HKD a month. 

On top of these rental costs, you can expect extra fees. Government fees and management tax can add another 15% to this. You will have to pay monthly and in advance, with one and a half a month's rent payable to legal fees and tenancy agreements. 

Healthcare

Hong Kong has one of the best healthcare systems in the world. This is subsidised for ex-pats who live in the country. All you need is your ID card. 

This means you can get healthcare even if you are a non-permanent resident. Treatment may cost a nominal fee or even be free. Be aware that dentistry is not covered under this system, so you may need to take out insurance for this. 

One of the downsides is that many ex-pats may consider the healthcare system to be slow. You can wait a long time for appointments or to get seen by a doctor. Not all doctors will speak English either. 

Taxes

A progressive rate is used to calculate income tax in Hong Kong. It starts at 2% and can go upwards to 17%. There are a few allowances and deductions that can be added to this. 

One major difference is that it is your responsibility to file for taxes, not that of your employer. This is paid every January and April. 

Preparing for a Move to Hong Kong

Now you know the main factors, you can prepare for a move to Hong Kong. Create a checklist in advance. This can help you prepare any documents you may need. 

For assistance with Hong Kong property, Property 852 should be your first stop. We let you rent directly and save on agency fees. Click here to begin your property search.  

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