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How much should I come to Hong Kong with?

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  1. #1

    Join Date
    Jun 2011
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    How much should I come to Hong Kong with?

    I have a job I'm starting at the end of July, so I will be arriving just before then.

    How much cash should I come with? Assuming I'm going to be keeping partying/living extravagantly down to a minimum, and will be living in a ten grand and under serviced apt. I was thinking U.S $5000?

    Thanks


  2. #2

    Join Date
    Nov 2009
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    Tuen Mun
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    Are you thinking of a HKD10K serviced apartment or USD10K?
    If the former, I think you can assume you won't want to stay there very long unless you actually enjoy living in shoeboxes (pre-schooler size).
    If you decide you want something a bit more liveable, then you will need to have enough money to 3.5 months rent up front when signing a lease + utilities deposits if these don't remain in the landlord's name + basic furniture/ equipment (furnished apartments are not common here). How many months salary would you need to put that together and still be able to live in the meantime?


  3. #3

    Join Date
    Jun 2005
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    Hong Kong
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    You really don't need to bring much cash. You can use your ATM card to pull cash directly from your US account as needed, and as soon as you have your local bank account set up you can wire money across if you need any before your first salary comes in.

    Football16 likes this.

  4. #4

    Join Date
    Jul 2007
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    Unless some civilized bank learns from Bank of China. Their (Mainland) ATM cards don't work anywhere for several days due to a "System upgrade" at present.

    I read a case where a guy had to leave his groceries behind not being able to pay.

    Last edited by hktraveller; 05-06-2011 at 09:24 PM.

  5. #5

    Join Date
    Jun 2011
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    40

    sheesh I was gonna rely on my mainland account! Well, what I actually wanted to know was, how much money (capital) should I need to get set up...I know "how long is a peice of string", but how much money did you need to tide you over till ur first pay check.

    Thanks


  6. #6

    Join Date
    Jul 2010
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    If you're living in a serviced apt, most things will be there already. You don't need much to set up. Think about things like a notebook, are you bringing one over?

    Living expenses shouldn't be more expensive than back home, think food and travel expenses - how much do you spend right now? I'd double that just to be sure.


  7. #7

    Join Date
    Jun 2011
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    Central, Hong Kong
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    hi jamo - i'm in a similar position to you.

    i start work in HK in 2 weeks, but I won't be getting my first paypacket for two months. I'm debating how much money I will need to take with me (my funds are depressingly low unfortunately, I got my job last minute and haven't had the means to save). Accommodation is sorted, but as to living expenses etc. I'm unsure as how to much I can survive on?

    Also in terms of bank account, bare in mind it costs a minimum 2,000HK dollars to open a bank account (about £150)


  8. #8

    Join Date
    May 2006
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    Original Post Deleted
    This is true, I had to run around borrowing money off a friend to pay the deposit immediately, so useful advice.

  9. #9

    Join Date
    Jun 2011
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    40

    thanks for the useful advice. How does payment for apartments work? Is it always 3.5 months advance, or is this negotiable? If you gave 3.5 months, would this mean you wouldn't pay rent for the first 3 or the last 3 months, or is it a deposit you would get back at the end?

    Thanks


  10. #10

    Join Date
    May 2006
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    Quote Originally Posted by jamo82:
    thanks for the useful advice. How does payment for apartments work? Is it always 3.5 months advance, or is this negotiable? If you gave 3.5 months, would this mean you wouldn't pay rent for the first 3 or the last 3 months, or is it a deposit you would get back at the end?
    Thanks
    The standard is a month in advance plus two months security plus normally half a month to the agent. You would get the 2 months security back at the end.

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