Long-Term Housing

Minimum Rental Periods

The minimum rental agreement period is typically 1 year with a 1-2 months break clause.

Required Documents for Signing a Lease

Typical requirements to sign a lease are:

• Proof of employment & name card
• Letter of Offer from the landlord
• Stamp duty fees (varies according to the rent amount)

Standard Security Deposit

The security deposit is equivalent to 2-3 month’s rent. There is also a holding deposit equivalent to 1 month’s rent which is then used as the first month’s rent.

Local Norm for Returning the Security Deposit

The security deposit is returned after lease termination, completion of inspection, cleaning, and payment for final utilities.

Rental Commission

Should you utilize the services of a real estate agent to help you in your search, agencies usually collect rental commission equal to 50% of 1 months’ rent.

Payment of Rental Commission

The agent’s rental commission is typically paid by the tenant.

Accepted Method of Payment

Check in HKD is the preferred method of payment.

 

School Registration

School Fees

Typical school fees vary from school to school. Fees could be between 10,000 – 60,000 HKD depending on the school of choice.

Accepted Method of Payment

Wire transfer or check are the preferred methods of payment. Wire transfers can be any currency. Checks should be in HKD.

Additional Notes

Some schools require purchasing debenture before the school start date. In addition a work permit must be to submitted with the application for most schools.

 

Obtaining a Driver’s License

Requirements

Typical documentation required to obtain a driver’s license include:

• Duly completed application form (TD36A)
• Hong Kong ID or valid passport
• Valid driver’s license from country of origin
• Proof of address issued within the last 3 months
• Medical, physical and psychological examinations

Additional Notes

A written and driving test may be required. License holders from US, EU, Australia, New Zealand, and Japan can apply for Hong Kong license without taking the written or driving tests.

 

Opening a Bank Account

Required Documents

In order to open a bank account, you may be asked for:

• Valid passport or HKID Card
• Minimum deposit (2000 HKD for HSBC. Other banks may require different deposits)
• Proof of address at least 3 months’ old (can be from home country)
• For US citizens, a W9 Form is required as well as proof of address from the country they are living in, as well as their home country.

Time Required

Typically, opening an account can be completed same day. For US Citizens the process takes around 2-3 weeks to open an account.