The world's local bank
Moving to Hong Kong
What you need to know
How we can help you
Banking Services
Mortgage Services
Loans & Overdrafts
Insurance Services
Investment Services
Financial Planning
Residence Entry to Hong Kong - Capital Investment Entrant Scheme (CIES)
Ways to Bank
What you need to know
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.
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 opening on Saturdays and Sundays. 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.
Passport validity: A passport with 6 months' validity is required for all visitors
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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:
- Direct postal application; or
- 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.
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.
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.
How we can help you
HSBC's range of personal current, savings and time deposit accounts allow you to find the best way to manage your money. And from our selection of credit cards you can find the right one to achieve the level of spending power and recognition that suits you:
HSBC Premier
World-class wealth management services, offering an integrated account, personal attention through your own Relationship Manager and Relationship Officer, plus global benefits and privileges. more
PowerVantage
A priority package with personal services to empower the management and growth of your wealth, so that you can enjoy life at your fullest. more
SmartVantage
A simple and direct all-in-one account enabling you total control of your money management anytime anywhere. more
Savings and Current Accounts
HSBC offers a range of Savings and Deposit Accounts, in Hong Kong Dollars and foreign currencies, which enable you to easily accumulate capital and manage your finances. more
Hong Kong Dollar / Foreign Currency Time Deposit
Deposits accounts with a fixed tenor to earn you higher interest. more
Renminbi Services
Flexible and convenient cross-border banking opportunities. more
HSBC Credit Cards
A wide variety of credit cards with offers and rewards tailored to your individual preferences and needs. more
Whether you are looking to buy your first home or investing in real estate, HSBC's range of mortgage loans, with different down payment and repayment options, will help you purchase the property of your choice. more
HSBC's diverse range of credit products can help you meet your financial needs. From long term borrowing, to short term borrowing for unexpected financial emergencies, HSBC loans and overdrafts are sure to provide you with the financial freedom you require. more
Being new to Hong Kong you will no doubt want to make sure that your family and assets are fully protected during your stay in Hong Kong. We offer a range of comprehensive policies to protect every aspect of your life from Travel Insurance and Home Insurance, to a wide range of life and health protection options to meet your individual and family needs. more
* The above insurance plans are underwritten by HSBC Life (International) Limited and HSBC Insurance (Asia) Limited which are authorised and regulated by the Hong Kong Commissioner of Insurance. The HongKong and Shanghai Banking Corporation Limited is an insurance agent authorised by HSBC Life (International) Limited and HSBC Insurance (Asia) Limited.
Insurance plans offered by HSBC Insurance (Asia) Limited are only available for subscription for residents of the Hong Kong SAR.
We offer a comprehensive range of investment vehicles to suit your different financial goals, making your money work harder for you. more
Securities*
Open an investment account with HSBC to trade securities anywhere, anytime through HSBC Internet Banking and our telephone banking service. more
Unit Trusts+
Choose from more than 300 funds from a number of internationally renowned fund houses, with various asset classes and investment instruments, covering every investment style. more
Bonds#
A medium to long-term investment, bonds may provide regular income through the interest paid on the bond. more
Structured Products
Offering the potential of higher returns, these alternative forms of investments are linked to underlying assets such as stocks, indices, currencies and interest rates. more
* The price of securities may move up or down. Losses may be incurred as well as profits made as a result of buying and selling securities.
+ The price of units or shares and the income from them may go down as well as up and any past performance figures shown are not indicative of future performance.
# The holder of bonds bears the credit risk of the issuer and has no recourse to HSBC unless the latter is the issuer itself.
Whether you are planning for your family, making a major purchase or saving for your retirement, we are here to help you plan how best to achieve your goal. more
The Capital Investment Entrant Scheme (CIES) was launched by the Hong Kong Special Administrative Region (SAR) Government on 27 October 2003. The objective of the Scheme is to facilitate the entry for residence by capital investment entrants (the entrant), i.e. persons who make capital investment in Hong Kong but would not be engaged in the running of any business here. The entrant is allowed to make his choice of investments amongst permissible assets without the need to establish or join in a business.
To cater to the needs of applicants to the Scheme, HSBC offers overseas investors an end-to-end solution encompassing a comprehensive range of personalised services and preferential offers, providing them with total peace of mind through the entire immigration process. This includes providing assistance with obtaining legal advice on the CIES application procedure, advising on the investment vehicles available to meet CIES requirements, offering preferential pricing for mortgage loans and offering access to global wealth management services through HSBC Premier.
Access to your account in Hong Kong is easy, wherever you may be. With HSBC Internet Banking and our telephone banking service, you can manage your finances anywhere, 24 hours a day, 7 days a week. Furthermore, with our new security device to access HSBC Internet Banking, you can be assured that your information is being protected by one of the most sophisticated online security systems in Hong Kong.
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Disclaimer:
- This section is intended as a general guide for reference only.
- 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.
- Investment involves risks. You should carefully consider whether any investment products or services are appropriate for you in view of your investment experience, objective, financial resources, and relevant circumstances. Investors should refer to the individual product explanatory memorandum or offering document for further details and risks involved.
