The Move to HK - I'm scared!

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  1. #21

    Join Date
    Aug 2007
    Location
    Happy Valley
    Posts
    3

    Mid-levels will be tough for your budget. And I think is a bit long and hot to walk from there to Exchange Square, though most places there have shuttle buses to Central. Both Kennedy Town and Sheung Wan 5-20 minutes from Central, depending on what time you travel. Someone mentioned that just wait till you get here to look for housing, and I think that's best advice. The agents can take you around and show you all the locations :-)

    Yes, I have to deal with US taxes, and is a real pain. You will have to pay both US and HK taxes since the USA is one of the few countries that tax your global income. Hire someone here to take care of it (there are plenty and not that expensive) since you have to do both HK and US taxes and may be hard to find someone to do HK taxes in the US.


  2. #22

    Join Date
    Jan 2006
    Location
    Fo Tan
    Posts
    2,389
    Quote Originally Posted by HKBanker2007:
    Also - anyone from the US have to deal with tax filings? I will have to file in US and HK? Does anyone know the stipulations around past one year and staying less than one year? I'd like to hire a professional to help me. Would I hire someone here in the states or in HK?
    You will have to file in both places and there are a couple of residency tests to qualify you for the US tax exemption.
    Our company uses someone in both the US and HK to do our taxes.

  3. #23

    Join Date
    May 2007
    Location
    Moved to HKG
    Posts
    409

    Okie ... do not fret... come on right over..ride the rough sea...Its better to get settled first before bringing your GF over.

    As with all relationship, Changes and movement requires a mature and rational mind.

    Finding friends is never an issue, as long as you are sincere and warm people that are drawn to you vice versa.

    It is basically very easy to land a job as an English or Literature lecturer or even teaching assistant over in HKG.

    Good luck and cheers


  4. #24

    Join Date
    Mar 2007
    Posts
    138
    Quote Originally Posted by HKBanker2007:
    Also - anyone from the US have to deal with tax filings? I will have to file in US and HK? Does anyone know the stipulations around past one year and staying less than one year? I'd like to hire a professional to help me. Would I hire someone here in the states or in HK?-Mani
    yes, you can avoid most of your federal US taxes but not social security.

    The rules are complicated and my source is a few years old, and tax codes change often. Frequently they change in your favor. But the rules are complicated and you should consult a tax attorney in the US who specializes in this.

    If you want more info you can pm me and I can quote some of the book I have which is "Offshore Havens" by Arnold S. Goldstein., 1995.

  5. #25

    You Will Love Hongkong

    i am thomas, and I can tell you one thing, as far as I know, nearly 99% expats LOVE hongkong...trust me lol
    but just wanna let u know I am a local...

    I guess other expats give u more useful suggestion in finding a apartment or other things, but my only suggestion is...if you have more money then u can live in higher level(mid-level), otherwise u can live in lower level(such as wanchai kennedy town or sheung wan)...
    but as for expats you definitely should live near central, coz HK island is the best palce for expats lol

    i can feel that u are quite nervous now, but u gotta trust me again, u will love HK in a VERY SHORT TIME...
    HK has everything u want...(soz i am kinda promoting HK lol)

    btw, I gotta tell you one important info....the working hr in HK is longggggggggggggg.....ggg..g

    Last edited by funnythomas; 16-08-2007 at 11:15 AM.

  6. #26

    Join Date
    Mar 2007
    Posts
    477

    I think HK is really one of the few cities in Asia that is truly international/global. You will find a good chance to experience the eastern culture while not needing to let go of your 'western roots'... of course you will probably have to give up certain things (eg. as you see on the threads here about 'what to bring to HK?' etc...) but you'll gain a whole new perspective! I see HK as 'training wheels' for expats to acclimate to the Asian culture / society. :-))


  7. #27

    Join Date
    Apr 2007
    Posts
    103
    Quote Originally Posted by carang:
    nea, why do you have to pay in both canada and hk? while in hk you are a resident in hk...i have been resident here in hk for 12+ years and have never filed in canada....
    I'm not really sure about the ins and outs of Canadian tax law, my accountant (aka The Boyfriend) handles that kind of thing, as I am a complete dunce when it comes to money and money management. Basically, he told me that I have to file in both places, but I must have tuned him out when he told me why, hahaha. I tried to google it, but I fell asleep/became bored while on the Canadian gov't website, eeeek.

  8. #28

    Join Date
    Jun 2007
    Location
    Pokfulam, HK Island
    Posts
    43

    Taxation

    I find it amazing that so many Americans are here given the taxation rulings. Where's the fun in all that??

    I'm an Aussie and have gone from paying around the 38% mark in tax - the doomsayers will quote that at 50% but I digress.

    HK tax rate is around 16% I think but with reductions is more like 10% - so, for us, it was a no brainer - monetarily.

    However, for you and your girlfriend, it is and will be a very stressful move for many more reasons than just money.

    And, just between you and me, if this is the most stressful decision in your life - wait until the children come along. After that, everything becomes much simpler....

    Good luck - see you for a beer in LKF when you get here.


  9. #29

    Join Date
    Mar 2007
    Posts
    477

    I know, I'm dreading having to pay HK tax AND U.S. tax... ugh... at least I'll use that during my salary negotiaton :-)


  10. #30

    Join Date
    Aug 2007
    Location
    Mid Levels
    Posts
    55

    Smile I'm scared tooo.!!

    Hey everyone...first time I've used a forum in my life, so unsure I'm doing it right.!!

    I'm in the same boat, but actually moving to HK end of Oct from the UK. I'm excited and terrified at the same time. I'm renting out my house in UK, doing a month TEFL course and hoping to secure employment, as I currently teach IT in UK...!!!

    The worse thing is I'm hoping to bring my 3 cats over, so I've had a nightmare worrying about accomm that will receive pets...

    This forum has been amazing and I'm lucky to have a really good friend in central already, but if anyone can give me some pointers too I would be really greatful.

    Everyone sounds so friendly on here, it's very reassuring.!!

    Shell