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  • 1 Post By hkpatv
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MPF Withdrawal/Non- habitual resident (NHR) Scheme

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  1. #1

    Join Date
    May 2005
    Posts
    33

    MPF Withdrawal/Non- habitual resident (NHR) Scheme

    I'm planning to leave Hong Kong permanently for Portugal, but I am a HK Permanent Resident and plan to maintain that status.
    As I hope to continue working with my current (HK based) employer, but as a contractor I plan to setup a Hong Kong based company and take advantage of Portugal's NHR tax schema so I will pay HK taxes only.
    I believe that as the sole employee of my new company I would need to pay MPF contributions to myself (somebody correct me if I'm wrong).
    My question is, that as I am planning to leave HK permanently, would I also be able to cash out all my own and my employers MPF previous contributions when I leave?

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  2. #2

    Join Date
    May 2005
    Posts
    33

    Actually I don't think I will need to set myself up with MPF so should be able to withdraw my money. I'll try calling their hotline and update the thread if I get a response.
    MPF Arrangements for Employees Working Outside Hong Kong
    Early Withdrawal of Benefits

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  3. #3

    Correct, I used to have a HK based company and worked as contractor. No need to pay MPF. (Btw, I moved to Portugal last year)

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  4. #4

    Join Date
    May 2005
    Posts
    33

    Thanks. So you pay corporate tax at 8.5% pay yourself dividends tax-free and then are able to bring the money into Portugal under NHR?
    Follow up question (I should probably start a new thread but) what bank are you using?
    I'm currently at Standard Chartered, but wondering if switching to HSBC would be beneficial.