When you plan to enter and stay in Hong Kong, you need a residence permit. While it is possible to travel and stay in Hong Kong for up to 180 days without a visa, a residence permit comes in handy for workers and others taking longer period in the island. In this post, we review the key reasons why you need to have a residence permit in Hong Kong.
It is the recognized document for people taking a longer period in Hong Kong
Entering Hong Kong re quires you to carefully follow all the established laws. Your resident permit shows that you are allowed to stay in Hong Kong to work or run your business. The immigration department requires you to produce the permit when required to by any Hong Kong authorities.
You are allowed to use public services that often comes at a lower price
In Hong Kong, services are really expensive. From accommodation to schooling, you will have to pay a lot of money. Indeed, Hong Kong is ranked the third most expensive city after Seoul and Tokyo. By getting a resident permit, you are allowed to use all the public services including schools, hospitals, and parks among others. This will cut your overall cost of staying in Hong Kong with a great margin.
Having a resident permit in Hong Kong allows you to seek employment
Because of its flourishing business environment, Hong Kong has numerous opportunities for employment. From multinationals to local companies, job opportunities are always opening up. However, it is only those with residence permit are allowed to take up employment in Hong Kong. Hong Kong works hard to secure job opportunities for local people because they pay taxes and help to grow the economy.
You can apply for right of abode after 7 years
When you have a resident permit in Hong Kong, it creates a unique opportunity for you to get the right of abode. Just like other types of visas, a continuous stay in Hong Kong for 7 years qualifies you to apply for right of abode. The Hong Kong authorities consider that such a person will have learnt a lot about the way of life in Hong Kong to live there. However, getting the right of abode requires you to make an application to the immigration department providing the following;
- A declaration that you want to make Hong Kong your permanent resident
- Proof that you have been paying all the taxes
- Demonstration that your stay in Hong Kong has economic advantage
You are allowed to open and run business
With a resident permit in Hong Kong, you are allowed to open and run a business. This is a great opportunity to take advantage of the great business environment. Whether you want to operate only in Hong Kong or expand to Mainland China, Hong Kong will provide the best launching pad for faster growth and success.
Your business can grow to become like other multinationals that started in Hong Kong and now operate in the entire Far East and other regions. If you are in the technology sector, Hong Kong administration can even support the start-up through its diverse programs. You only need to register a company and present the idea to get support from the government.
Your obligations under residence permit in Hong Kong
In Hong Kong, every resident is expected to pay taxes. You have to submit a duly completed report to the IRD (Internal Revenue Department) indicating all the sources of income and amount of income. Besides, your employer or business will be required to remit salaries tax to IRD on time and capture it in the company’s tax reports.