The place to ask China-related questions!
Beijing Shanghai Guangzhou Shenzhen Chengdu Xi'an Hangzhou Qingdao Dalian Suzhou Nanjing More Cities>>

Categories

Close
Welcome to eChinacities Answers! Please or register if you wish to join conversations or ask questions relating to life in China. For help, click here.
X

Verify email

Your verification code has been sent to:

Didn`t receive your code? Resend code

By continuing you agree to eChinacities's Privacy Policy .

Sign up with Google Sign up with Facebook
Sign up with Email Already have an account? .
Posts: 1

Governor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Q: Working in China.. money sent to Hong Kong

Hello,

 

Is anyone working in China and having there money sent to an RMB account in Hong Kong? Many banks offer RMB services; such as citibank, HSBC, Bank of China (HK), CCB (HK) amoung otheres.

 

I have read that some people have there money sent to an RMB bank account in Hong Kong. With Hong Kongs "lose" regulations compared to China, everyone is allowed to send money wherever you want, even via internet.

 

 

10 years 22 weeks ago in  Money & Banking - China

 
Answers (2)
Comments (1)
Posts: 1838

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

As far as I am aware (unless the laws have changed), non HK identity card  holders cannot open RMB accounts in Hong Kong.

expatlife26:

I'm under the same impression, at least that's how it was when I opened my HSBC account. 

 

10 years 21 weeks ago
Report Abuse
Report Abuse
10 years 21 weeks ago
 
Posts: 2878

Shifu

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

I know someone who does that, it can work well but only under a specific set of circumstances.

You have to work for a company that has operations in HK, you can't just have a mainland employer transfer the money to HK for you. If you're working for an HK company you can get them to get you a HK ID then you can bank any currency you want.

Then you just get them to get you a business visa. My friend works for IBM and is basically a travelling consultant. Spends most of his time in the mainland...gets paid in HK and pays the much lower tax rate. It's a sweet deal he can live in pretty much any city with a decent airport.

You can theoretically get in trouble with the mainland tax authorities though if you spend too many days in the mainland you are expected to pay taxes here as well...but that's never happened.

but again you have to be working a company that 1. can pay you on the HK side 2. is big enough to get you business visa for the mainland with no hassle. and ideally will get you HK ID as well.

Report Abuse
10 years 21 weeks ago
 
Know the answer ?
Please or register to post answer.

Report Abuse

Security Code: * Enter the text diplayed in the box below
Image CAPTCHA
Enter the characters shown in the image.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <img> <br> <p> <u>
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
  • Textual smileys will be replaced with graphical ones.

More information about formatting options

Forward Question

Answer of the DayMORE >>
A: Good question!  I'd say, if you study at Uni in China beside
A:Good question!  I'd say, if you study at Uni in China beside working full-time as an E.T. with Residence permit, you don't interfere with your full-time employment.It's your free time and you can do anything you want, with respect to the Chinese laws and customs. Have a look at terms of Z visa/Residence permit and ... ".. you cannot work (and earn monies!) with another employer ..."That's all it is! Your RP sponsor title is written on the RP stamp in your passport, I think. It's in Mandarin, so I've heard about that from someone ...At I.D.-ing by cops, they know where you work and than more details about you are just a phone call away ... and it happened in person ... LOL ... during the day-time stroll through Wulumuqi, Xinjiang, 2012/13 semester. Now under RP, you're free to surf Internet, jog, ... and study, too. I suggest, you look and ask at the Uni, you plan to study in the future. Have a detailed look at requirements for studying and attending chosen Uni.Good luck! -- icnif77