moving to HK - 2 questions



ORIGINAL POST
Posted by paul45 10 yrs ago
Hi, I am moving to HK this summer. I am a UK resident for past 7 years, dual US/UK citizen.


Q1- in 2014 I will have to file US, UK and HK taxes, can anyone recommend a good tax accountant in HK that can do all 3 competently?


Q2- can anyone recommend a good bank (and account plan within that bank) which will allow me to easily move foreign currency between accounts in the US/UK/HK? Ideally would have high transaction limits and not require a visit to a branch. I understand maybe private banking style accounts could do this but I don't plan to keep much idle cash in my bank account - talking low 6 figures.


Thanks in advance for help.

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COMMENTS
afshop 10 yrs ago
1. Large accounting firms like Deloitte, KPMG, PWC and E&Y provide these services ... but expensive. Suggest that you talk to the IRS in UK and US first to understand what tax returns that you need to file. Oftentimes, if you don't have complex compensation package, you can do it your own. Btw, HK tax return is rather simple unless again you have complex compensation package (e.g. stock options, etc).


2. You must physically visit a branch for opening a bank account. This is a standard procedure for banks to meet the anti-money laundering requirements. Btw, since you are now in UK, talk to the bank that you have a bank account to understand what the service charge is like for transferring money between UK and US/HK. In HK, transferring money to UK/US is simple. All is about service charge.

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