Banking, Money and Taxes in Hong Kong
Most large international banks will have branches in Hong Kong. However, residents will have to open a new Hong Kong account despite having an existing account with the same bank overseas. Using the same bank will make transferring money easier. Some large Chinese banks require that new account holders come by referral only, and most require a passport and proof of address to open an account. ATMs are very accessible and most goods and services can be paid for with major credit cards.
Expat taxation works differently in Hong Kong than in most other countries. In general, taxation isn't concerned with citizenship or residency in determining taxes. Anyone who is in Hong Kong for more than 60 days is liable for salary tax. Advantageously for expats, salary taxes are only focused on the income derived from business within Hong Kong. Income and assets from overseas are not liable to be taxed.
