Hong Kong Guide: Money

Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.

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  The Hong Kong dollar

  Valuation and currency exchange

  They say money talks, and Cantonese is its mother tongue. Water is to a thirsty man what money is to Hong Kong – so it’s no surprise that Cantonese slang for money is ‘sui’ – water. ‘Mo sui’ means ‘I don’t have any money.'

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  Hong Kong Banks

  Services and banking hours

  Hong Kong has over 250 banks from more than 30 countries. Since Hong Kong is one of the world’s largest international banking centres, leading international and local banks, both investment and retail have a presence here.

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  Opening a bank account

  How to open a bank account in Hong Kong

  Banks in Hong Kong offer savings, current (checking) and multi-currency accounts. You will need an opening amount, usually $1,000, although this will differ from bank to bank and from account to account. You can also apply for a credit card.

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  Managing your money

  Financial advisors and investment products

  With a low salary tax and attractive expat packages, Hong Kong represents a great opportunity to build personal wealth. Many expats in Hong Kong are thus faced with the question of how to manage their savings.

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  Pension insurance

  The mandatory provident fund scheme

  Set up in 2000 by the Mandatory Provident Fund Authority, the mandatory provident fund scheme provides the Hong Kong’s employees with security in retirement.

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  Taxation

  Income tax and tax declaration in Hong Kong

  Hong Kong has one of the lowest tax rates in Asia and in the world. Only local salaries, business profits and property are taxed.

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