Moving to Hong Kong: Any tips out there...??
 

Hi,

Am thinking of a move to Hong Kong next year. At the moment I have a Ltd company in UK and work mostly in transport planning / engineering field. It's a shortage industry niche i work in and I have even been involved in jobs on Hong Kong projects but only through other larger consultancies.

What I really would like to do is move my business to HK but also continue to work in Europe.

1. Is it possible to be a resident in HK and continue to work in UK.
2. What are the tax implications of doing this.
3. Should i set up a subsidiary of my company in HK.

Any tips and advice would be greatly appreciated!

PW

Re: Moving to Hong Kong: Any tips out there...??
 

Don't.

Re: Moving to Hong Kong: Any tips out there...??
 

You can live and work where you want.

Why not get an NT tax code for UK, visit occasionally (less than 90 days per year) and pay HK tax ?

If you have your own business I expect you'll need a residence and work permit anyway.

Re: Moving to Hong Kong: Any tips out there...??
 

You cannot live where you want! Other countries have borders, immigration, work permits etc etc

Tell me where you can live where you want outside of the EU/EEA?

Re: Moving to Hong Kong: Any tips out there...??
 

Setting up a business in Hong Kong and getting a business visa isn't that hard, in fact very easy. I used to work with many Americans and British who had businesses in HK. Have a look at the government websites:

http://www.gov.hk/en/business/suppor...s/index.htm#p2

http://www.investhk.gov.hk/default_b.../en_setup.html

As andrewrh says, as long as you are spending fewer than 90 days a year in the UK, you can most likely be exempted from UK taxes and pay only HK taxes which are among the lowest in the developed world.

Mrs JTL

Re: Moving to Hong Kong: Any tips out there...??
 

Hong Kong has always been to Hong Kong to implement liberal and flexible employment policies. Hong Kong expatriates as long as needed but not readily possess a special skill, knowledge or experience, or be able to make a substantial contribution to our economy, are welcome to come to work in Hong Kong. In response to Hong Kong and other areas of social and economic development, the policy since July 2003 onwards there has been relaxed to allow more countries and regions, nationals or residents to come to Hong Kong for employment. They have ordinarily resided in Hong Kong for more than seven consecutive years, and has chosen Hong Kong as their permanent residence, may apply to become Hong Kong permanent residents in accordance with law. During the year, more than 100 countries and regions, a total of 19155 professionals and technical, administrative or managerial expertise, allowed to come to Hong Kong for employment.

Re: Moving to Hong Kong: Any tips out there...??
 

I meant that the poster could choose to live in HK or UK. Very easy to stay in HK - first without a visa, then can get a Visa very quickly.

Re: Moving to Hong Kong: Any tips out there...??
 

on the tax question. Hong Kong has a reciprocal tax agreement with the UK. If you pay tax in one country, when you move that money to the other you will not be taxed again. HK has a far lower tax rate then the UK.

Setting up a business (IF large enough) will speed up residency. Otherwise you will have live and work in HK as your main place of residence for 7 years before you can apply to become a resident, during which time you will have to apply for and renew when needed a work visa.

On entry to HK your passport will be stamped with three month visitor visa. This does not entitle you to take up employment. I suggest you contact HK immigration for the full details

hope this info helps