With the deepening of the construction of the Guangdong Hong Kong Macao Greater Bay Area

Does Hong Kong still have advantages?

With the deepening of the construction of the Guangdong Hong Kong Macao Greater Bay Area and the frequent emergence of favorable policies in Hong Kong, visa extension hong kongit seems that everyone feels that with a Hong Kong ID card, they can enjoy more benefits and seize more opportunities in Hong Kong and the mainland. As a result, Hong Kong‘s identity has become a “beacon“ in the eyes of mainland people, with an increasing number of applicants.

So what are the advantages of Hong Kong's social status in China? Let's analyze it together. multi entry visa chinaThis article is a bit long and full of dry goods. Remember to be patient and read it!

Recommendation: The global immigration wave is coming!Why do the middle class prefer to stay in Hong Kong?

1、 Family Planning

Dual permanent residency: As Long as you do not apply for a re-entry permit voluntarily, your mainland account will not be cancelled, i.e. you can hold both a mainland account and a Hong Kong identity card, training visa hong kongyour work and daily life in both places will not be affected.

Accompanying Person: one person applies, with the consent of the family, the spouse and children may accompany the identity card as dependants.

Immigrant not moving: Most people have planned their identity and their career focus is still on the mainland, while there is no immigration supervisor in Hong Kong. The renewal conditions are relaxed, allowing them to immigrate without moving and continue to work and live in the mainland for a long time.

Reproductive Freedom: Hong Kong's social and population development policy is relaxed. The Hong Kong government encourages more children to be free from the influence of the mainland's family planning policy. As long as they are legally resident, pregnant women give birth in Hong Kong and the child is born, they can obtain direct permanent resident status and enjoy national education benefits for all problem children.

2、 Development opportunities

As a highly open and international metropolis in the Grand-Baie region, Hong Kong is an international financial, shipping, trade, and aviation hub. It has always been a link between the mainland and the international market, full of development opportunities.

Entrepreneurship: Hong Kong‘s commercial sector does not have foreign exchange controls, making it easy to receive and settle foreign exchange, and allowing for free currency exchange. Whether in business, investment, or entrepreneurship, Hong Kong is definitely an ideal place to expand our business landscape.

Employment: the 2021 ranks 18th in the world in per capita income, with an average annual income of $42,000. Working in Hong Kong not only pays well, but also provides access to more international companies, which can serve as a springboard for career development.

International layout: Hong Kong Enterprises are conducive to enhance international awareness and help brand building. Hong Kong allows enterprises from any country or region to operate in its territory, which is a window to expand into the international market and a springboard to the mainland Chinese market.

3、 Educational resources

Hong Kong's socio-educational management system ranks third in the world and is in line with the international market. It boasts five of the world's top 100 universities: the Renmin University of Hong Kong, the Hong Kong University of Science and Technology, the Chinese University of Hong Kong, the City Transport University of Hong Kong and the Hong Kong Polytechnic University. Having a Hong Kong identity in China gives you a significant competitive advantage in studying in mainland China, studying in Hong Kong or pursuing further studies.

1. Studying in Mainland China

Public Degree: while obtaining Hong Kong status, you can maintain your household registration in the mainland and enrol in public schools.

International Sociology schools: The International Development Schools in Beijing, Shanghai, Guangzhou and Shenzhen do not accept mainland students, but if their children have a Hong Kong identity, they can be enrolled in international schools to receive an education in international politics from an early age.

2. Continuing education in mainland China

Overseas Chinese Student Joint Examination: After holding Hong Kong status and obtaining permanent residency, one can participate in the Overseas Chinese Student Joint Examination (from May 22nd to May 23rd each year), with a total score of 750 points (similar to mainland candidates), and a undergraduate admission rate of 80%!Admission score line: 400 points for one book, 300 points for two books, and 200 points for art candidates. A score of 400 can be applied to key 211 universities and 985 universities.

DSE Exemption Admission: With permanent residency status in Hong Kong and DSE scores, one can directly enroll in 130 universities in mainland China through the “Exemption Admission Plan“ (including prestigious universities such as Tsinghua University, Peking University, and Fudan Jiaotong University).

3. Studying in Hong Kong

We have a 15-year compulsory education system (3 years for kindergartens, 6 years for primary schools, 3 years for middle school and 3 years for senior secondary schools) . Students can attend public primary and secondary schools in Hong Kong, China, paying tuition and incidental fees for each semester. We have been bilingual since childhood and enjoy world-class international management education and teaching resources.

4. Overseas Education:

Holding Hong Kong resident status to sit for the Hong Kong Diploma of Secondary Education Examination (recognised by the world's top universities) , they can choose 80% of the places for local students from Hong Kong and the top 300 overseas universities, the University of Hong Kong, the Chinese University of Hong Kong, etc. . The tuition fees are relatively low, it is the only international entrance examination in the world that answers questions in Chinese.

4、 Medical resources

Hong Kong has the highest average life expectancy in the world. With Hong Kong characteristics, you can enjoy international advanced medical technology and free public health care. No patient will delay treatment because of lack of money.

Government regulation is in place, the healthcare system is separate, the process is simple, and many drugs are much cheaper than Chinese mainland.

The first visit to a specialist clinic costs HK $100 and then only HK $50 each, compared with HK $45 for a general clinic. Even in the face of large-scale operations involving hundreds of thousands or even one million people, the cost of hospitalization is only HK $100 per day (regardless of the disease) , including drugs, surgery, bed space, nursing rooms, meals, etc. , it is equivalent to a lifetime of free medical care.

5、 Tax incentives

Reasonable tax planning, whether for high net worth individuals in the enterprise, or for the education of middle-class families, will affect the lives of students.

The tax system in Hong Kong has two characteristics: firstly, it is simple, and secondly, the tax rate is low. Hong Kong does not have double taxation, inheritance tax, interest tax, capital tax, business tax, sales tax, value-added tax, gift tax, or capital gains tax.

In addition, Hong Kong has signed avoidance of double taxation agreements with a number of countries and regions around the world to allow tariff-free entry into the mainland.

6、 Home Purchase Policy

Buy a house in the Chinese mainland

Purchase Policy (Bay Area) :

The 16 measures announced in 2019 that benefit Hong Kong have lifted restrictions on home purchases by Hong Kong and Macau residents in mainland China: Hong Kong residents can freely purchase homes in nine cities in the Greater Bay Area without the need for household chores, proof of study time, and other purchase restrictions.

Take Shenzhen. Construction companies that are not Shenzhen residents need to pay social security for at least five years to buy a home, while Hong Kong residents who buy a home in Shenzhen may not need to pay social security.

Loan Policy:

Hong Kong residents can also handle mortgage services for home purchases by influencing HSBC, Bank of China, Citibank, and others. Many banks have launched a mortgage service targeting some Hong Kong residents, with an interest rate risk of 2%. Compared to the 5% mortgage policy interest rate in mainland China, it is also necessary to repay a 6 million loan over 30 years. Buying a house with a Hong Kong social identity can be 2 million cheaper!

Hong Kong Home Purchase

As the world's largest free port, Hong Kong real estate is also sold around the world, which means the world can buy Hong Kong real estate. For non-registered residents, there is only one family unit but the tax rate is higher than for local residents.

Buying a house in Hong Kong as an overseas identity requires paying two types of stamp duty, totaling 30%:

Double stamp duty at 15%

Buyer Stamp Duty (BSD) at a rate of 15%

Hong Kong permanent residents only need to pay ordinary stamp duty for a property company which is a first-time applicant:

My own house has no fixed residence, and the tax rate is low, usually between 1.5% and 4.25%

If you buy a home for permanent residence, the tax rate is very high, the flat rate is 15% .

prefer to stay in Hong Kong visa visa hong kong

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