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Leaving HK - MPF, Taxes & Banking Questions

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  1. #1

    Leaving HK - MPF, Taxes & Banking Questions

    hello! planning on moving back home early next year (around February 2023 since my earliest Lease termination is that month + 2 months of rent) and have a couple questions on timing of things... I just started working in HK early this year and it is not my cup of tea!

    1) I plan to give my one month notice in December 2022 and if the IR56G does not come on time from my employer (in case they play tricks with me ), may I just show IRD my bank statements and paystubs up to the latest?

    2) I use Citi as my bank account and wondering if I can just ask them to update my address / cellphone for OTP to my home information since I already have an account with them over at home as well? (I don't want to close since I might be back in the future)

    3) Is it mandatory to close my CSL mobile number? I want to keep it open and can pay it using my existing bank account in HK. In the states, I'll be connected to WiFi rather than using the phone's data plan.. just need the text for bank OTP if Citi does not update it to my local address.

    4) There are no issues keeping credit cards open in HK right? I plan to keep my credit line open in case I want to come back in the future.

    5) I read the article about MPF withdrawal but would it be better if I submit withdraw once I settle back in the states just in case customs stop me for some odd reason?


  2. #2

    Join Date
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    1) No, random scraps of paper will not work.

    3) Not mandatory.. As long as you have made arrangements to pay the bills. There is anither thread on cheap options to keep you hk number active.

    4) No issues

    5) Unless you are withdrawing cocaine from your MFP account why would customs stop you?

    (also check the sticky threads in this forum...)


  3. #3

    Join Date
    Feb 2009
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    2) I use Citibank and when I moved overseas I used the "change of contact details" form to update my phone number with them to an Australian +61 mobile number. Now every time I get OTP code to my Aussie mobile without any problem, can fully operate the HK account.

    But I did not update my residential address to an overseas address. If you do that, they will treat you as an "International Personal Banking" customer and start charging you $400/month, irrespective of your account balance. So I just leave my address as HK, set a correspondence address as my HK office, tick the option to get all statements etc via email, and hope I havent missed any important mail. But my HK office complains the mail is piling up on my desk still and I havent been back to HK for over 2.5 years now.

    https://www.citibank.com.hk/english/...orms-download/

    Sage, shri, alexdown and 1 others like this.

  4. #4

    Great Thanks! Say if I wanted to leave before I get my IR56G finalized early next year.. does anyone have experience on just showing them bank statements / pay stubs for the 10 months I've been working here? I thought I read somewhere they allow that as long as you give them your overseas information so they can chase you down if you underpaid?

    For MPF.. say if I don't request it in HK before I leave.. I will need the form to be notorized once I am back at my home state right?


  5. #5

    Join Date
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    Quote Originally Posted by zincXpat:

    For MPF.. say if I don't request it in HK before I leave.. I will need the form to be notorized once I am back at my home state right?
    Withdrawing MPF is quite a complicated process. You need to do the oath at a local HK office to say you will not be returning to HK (to work) and my provider (HSBC) would only send it in a cheque to a HK address. I had to have it sent to a friend who paid it into a local bank for me. So, you must keep bank account open when you leave. I'd be worried about how difficult to do all this from abroad. You may get further tax refunds in the following year as they often decide on tax reductions after you have settled. Personally I'd sort it before you go. You have plenty of time to get it sorted. Anyway, it will not be much after only a year.
    Edwardstorm likes this.