Like Tree16Likes

Leaving Hong Kong - withdrawing MPF - HSBC Denied

Reply
Page 3 of 3 FirstFirst 1 2 3
  1. #21

    Join Date
    Dec 2015
    Posts
    104

    I am considering leaving MPF in place when I leave in a few months, because I am not sure that I won't return to work in HK in future.

    Question. Does MPF charge something like a monthly fee for looking after your money?
    Australian compulsory superannuation funds did, so it would be possible after a few years that you'd end up with a negative balance....


  2. #22

    Join Date
    Jan 2013
    Posts
    37

    Hi,

    I am trying to withdraw my MPF balance from HSBC as I left in 2014, they told me among other things :

    "Please be advised that a statutory declaration can be made at public enquiry centers of the Home Affairs Department in Hong Kong. If you are residing overseas, you may make the statutory declaration outside Hong Kong provided that the declaration is made beforehand and signed by a Notary Public or a person authorized under the law of that place to administer an oath or take a statutory declaration. "

    Anyone went through this? is the statuary declaration really necessary? can I do it in Europe.

    I dont understand what is meant by beforehand? do they mean in presence of a public notary?


  3. #23

    Join Date
    Nov 2007
    Location
    Wanchai
    Posts
    4,010
    Quote Originally Posted by lovehunter
    okay - I can get the work visa as soon as I get to Thailand
    Wishful thinking that. They don't just dish them out willy nilly.

    Also you should be careful about doing visa runs all the time. Seems they are on another crack down./
    BANGKOK:-- Thailand has introduced new laws aimed at controlling the amount of migrant workers in the country, as well as foreigners who work in Thailand illegally.



    Under the new laws, which have now come into effect, people who employ foreign workers illegally will also face tougher punishments, with employers set to face fines of between 400,000 800,000 THB for each foreigner they employ illegally.



    Foreigners found working without a work permit face fines of between 2,000 - 100,000 THB or imprisonment of a maximum of 5 years.



    Foreigners who engage in work different to that which is registered in their work permit will be fined up to 100,000 THB.



    Under Thai law, some foreigners are prohibited from working in certain professions such as manual work, agriculture and secretarial work. In total there are 39 occupations prohibited to foreigners.



    Meanwhile, the new laws will also help to protect the rights of migrant workers in Thailand.



    Any employer found to be violating the rights of a migrant worker or who withholds important documents from the worker will face fines up to a maximum of 100,000 THB.



    The new penalties were published in the Royal Gazette in a document dated 22 June 2017.

  4. #24

    Join Date
    Dec 2002
    Location
    ???
    Posts
    28,711

    Trebor - 18 month old post ... + I think @lovehunter is still in HK.


  5. #25

    Join Date
    Nov 2007
    Location
    Wanchai
    Posts
    4,010

    Move along......nothing to see here.


  6. #26

    Join Date
    Jul 2010
    Location
    Hong Kong
    Posts
    156

    Yes, Thailand never worked. It's great for holidays and maybe for few months but I am not made for such lifestyle just yet.

    But yes, getting MPF out was easy. They took exactly one month to process and deposit into my account.

    So for now, I have 20k+ in those schemes but not working full time. Enough of making Someone else rich.


  7. #27

    Join Date
    Jan 2010
    Location
    Hong Kong
    Posts
    24

    I saw this post reopened, so am using the opportunity... What is potential impact of closing HK MPF account and withdrawing funds on one's HK PR status?

    For a person of 'non-Chinese nationality', one of the eligibility criteria for getting HK PR, is signing a statement that one has 'taken Hong Kong as their place of permanent residence'.

    If one wants to close their HK MPF/withdraw funds, they must declare that '[...] they will depart from Hong Kong to reside elsewhere with no intention of returning for employment or to resettle in Hong Kong as a permanent resident'.

    To me, these two statements are essentially opposite -- i.e. the latter statement for MPF withdrawal negates the earlier statement for getting PR. Hence, the opening question.


  8. #28

    Join Date
    Oct 2010
    Posts
    18,917

    There is no impact on your PR status by whatever you do with your MPF.


Reply
Page 3 of 3 FirstFirst 1 2 3