10Likes
Hello.
I've just been given the unfortunate news that i'm still 2.5 years away from PR. (thought i was closer)
My current contract is due to finish at the end of this year, and i've been offered a good package overseas, but I love HK!
I can find a job here, on relatively the same expat package im on now. (excluding annual leave and non-saturday working i currently enjoy)
So, my question is have i missed anything off the list below that makes staying to get PR worth it?
1. Free to return without visa process. (big plus for hiring companys)
2. Borrowing money - can borrow money at HKs low interest rates.
3. Buying property without 15% expat tax.
4. Can buy stocks in HK. (currently UK PR, only gains on stock are taxed highly, HK are not)
Drawbacks:
1. Must return once every 3 years? (is this a must?)
Your thoughts..........
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10-04-2018, 10:10 AM #1
Worth waiting for PR?
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10-04-2018, 10:36 AM #2
I think this is really the most important thing
The rest of the pros are also very compelling, the con (returning every three years) is really not so bad. Get PR, go if you want, come back every three years for a holiday (or on a stopover going elsewhere - beach holiday in Thailand anyone?)
Just my two cents
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10-04-2018, 10:57 AM #3
like what ** said, you get downgraded to RTL and the only differences is1. Must return once every 3 years? (is this a must?)
1. You can be deported if you do something very naughty
2. You can't vote
3. You wont get any govt hand outs if they plan to do it again
4. You will pay 15% stamp duty on housing
I know a few people that really regret not staying for that 1-2 yrs more to get PR when they saw what they thought was GREENER GRASS on the other side lol, they want to come back but getting work visa is harder now for their industry.
If I was you and just on this statement alone "but I love HK!" I would stay and get PR, its one more option to put in your back pocket if your next move doesnt work out and you have the option to return here and find a better job.
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10-04-2018, 10:58 AM #4
This is not an advantage if you are resident in UK with PR status in Hong Kong.
If you are UK resident, and you buy and sell stocks in HK, when you transfer the cash back to the UK you will still have to declare any capital gains and pay the relevant taxes to the HMRC.
Note also that Hong Kong PR status does not confer a UK citizen with non-domiciled status.
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10-04-2018, 10:59 AM #5
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10-04-2018, 11:08 AM #6
What country are you originally from?
PR is important to some of us from "brown people" countries, as it gives us a certain about of stability - can continue to live here and make this our new home - it is a higher tier than "back home".
For many people, who have better support systems (national, family, economic, political, health... whatever), HK is a second tier option and not all that attractive.
Depending on your career stage - I'd go for the better job offer and not give the HK PR thing that might weight.
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10-04-2018, 11:12 AM #7
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10-04-2018, 11:17 AM #8
You've already put in 5 years and it's certainly nice to have the flexibility to come back easily. If you have an amazing career opportunity somewhere else then you go for it while you can get it but if it's a lateral move and you can find something that's pretty much the same here then it's worth staying particularly in light of the fact that you love it here.
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10-04-2018, 02:52 PM #9
Thanks all!
TBH as chuckster007 pointed out, when i was writing the post and wrote "I Love HK" I knew it's what i should do.
The job offer else where is good, but no better take home pay than HK (tax tier).
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10-04-2018, 04:24 PM #10
Seems most people in the world, been to HK or not, prefer first world western countries than HK, Singapore, Japan etc.
Very few western expats retire here.
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Originally Posted by marshy104:
