Wow, this is proof positive that time goes by so quickly!
I just submitted and was approved for my PR (permanent residency) application in Hong Kong. In order to be eligible for PR, you need to have lived in Hong Kong (or been resident for a significant portion of your time here, as evidenced by housing receipts, bank accounts and tax payments) for seven (SEVEN!!) years.
The exact date that I officially entered Hong Kong seven very short and very long years ago was January 12, 2012. Once we hit that date this year, I submitted my application (like all things in Hong Kong, a pretty straightforward and short process, I think consisting of 7 pages in total) and then waited. My application probably got slowed down a little bit due to the Chinese New Year holidays at the beginning of February. When I heard back, frustratingly, it was not an acceptance letter but rather another application asking me to detail my parents' whereabouts when I was born.
I am pretty sure this is because they were trying to determine whether I was eligible for a Hong Kong passport. Being of Chinese ethnicity, I would be eligible for a Hong Kong passport if I was born in China or Hong Kong; but because I was born in the U.S., the immigration department needed more information to determine if I was eligible. Turns out I am not. I guess I don't really need an extra passport (except for the coolness factor) so while I am a bit bummed, I'm not all that upset.
Then when I finally went in for my appointment, I realized that I needed to set up a separate appointment to get my picture taken and swap out my current HKID card for my new PR HKID card. That took a little more time, and then I missed my appointment due to a crazy day at work, so that's why it's already April before I finally had a chance to get all of this done.
It took an hour at the immigration department. I met with two immigration officers, got my picture taken, handed in my current HKID card and was told to report back in 9 days' time to pick up my new card. In a stroke of efficiency, because Hong Kong is contemporaneously rolling out smart HKID cards, they will issue me the new smart card this month ahead of when I would otherwise have received it. And that's it!
Getting PR essentially means that you do not need a visa to stay here - you have the right of permanent abode (subject to conditions that you return once in a while if you do not consistently reside here). And the other main benefit is that you are exempt from certain stamp duties if you wish to buy real estate in Hong Kong. In October 2012, the HK government put in place a bunch of extra taxes on purchases of real estate by foreigners in an attempt to cool down the overheating market, to varying levels of success. The real estate market here remains one of the most overvalued and crazed in the world.
For example, just last year, the extra taxes were apparently still not having a sufficient impact so they mandated that any purchases of real estate for self use for people whose income is not mainly derived from Hong Kong for any property in excess of HK$10m (which is in practicality anything larger than a tiny 200 square foot studio) will require a 60%(!) down payment. I hope that makes those of you homeowners who only have to put down 10-20% in your home countries feel much better!
I just submitted and was approved for my PR (permanent residency) application in Hong Kong. In order to be eligible for PR, you need to have lived in Hong Kong (or been resident for a significant portion of your time here, as evidenced by housing receipts, bank accounts and tax payments) for seven (SEVEN!!) years.
The exact date that I officially entered Hong Kong seven very short and very long years ago was January 12, 2012. Once we hit that date this year, I submitted my application (like all things in Hong Kong, a pretty straightforward and short process, I think consisting of 7 pages in total) and then waited. My application probably got slowed down a little bit due to the Chinese New Year holidays at the beginning of February. When I heard back, frustratingly, it was not an acceptance letter but rather another application asking me to detail my parents' whereabouts when I was born.
I am pretty sure this is because they were trying to determine whether I was eligible for a Hong Kong passport. Being of Chinese ethnicity, I would be eligible for a Hong Kong passport if I was born in China or Hong Kong; but because I was born in the U.S., the immigration department needed more information to determine if I was eligible. Turns out I am not. I guess I don't really need an extra passport (except for the coolness factor) so while I am a bit bummed, I'm not all that upset.
Then when I finally went in for my appointment, I realized that I needed to set up a separate appointment to get my picture taken and swap out my current HKID card for my new PR HKID card. That took a little more time, and then I missed my appointment due to a crazy day at work, so that's why it's already April before I finally had a chance to get all of this done.
It took an hour at the immigration department. I met with two immigration officers, got my picture taken, handed in my current HKID card and was told to report back in 9 days' time to pick up my new card. In a stroke of efficiency, because Hong Kong is contemporaneously rolling out smart HKID cards, they will issue me the new smart card this month ahead of when I would otherwise have received it. And that's it!
Getting PR essentially means that you do not need a visa to stay here - you have the right of permanent abode (subject to conditions that you return once in a while if you do not consistently reside here). And the other main benefit is that you are exempt from certain stamp duties if you wish to buy real estate in Hong Kong. In October 2012, the HK government put in place a bunch of extra taxes on purchases of real estate by foreigners in an attempt to cool down the overheating market, to varying levels of success. The real estate market here remains one of the most overvalued and crazed in the world.
For example, just last year, the extra taxes were apparently still not having a sufficient impact so they mandated that any purchases of real estate for self use for people whose income is not mainly derived from Hong Kong for any property in excess of HK$10m (which is in practicality anything larger than a tiny 200 square foot studio) will require a 60%(!) down payment. I hope that makes those of you homeowners who only have to put down 10-20% in your home countries feel much better!
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