Recently also more friends in the background management consulting firm on permanent residence matters, today with you can share with our country on the application for permanent residence of the key secrets: MPF on the application for permanent residence in Hong Kong to help.

Hong Kong's "Quality Migrant Admission Scheme" requires that the applicant and his or her dependents be ordinarily resident in Hong Kong for a continuous period of not less than seven years and, subject to compliance with the relevant provisions of the Immigration Ordinance,work visa application hong kong apply for permanent residence in Hong Kong and hold a passport of the Hong Kong Special Administrative Region (HKSAR).

What is continuous ordinary residence?

The applicant lives mainly in Hong Kong and there are no clear rules or restrictions on the length of residence in Hong Kong. This flexibility actually gives the applicant some freedom. The main considerations of the Immigration Department in vetting ordinary residence are.

1. Traces of living in Hong Kong, records of water, electricity and gas consumption, and family members living and studying in Hong Kong.

2. A company in Hong Kong to prove that the applicant has a job in Hong Kong, the most important proof is the MPF and tax return. Because MPF is mandatory and linked to work, it is legally binding, as is the tax return.

And what exactly should MPF be?

1. Mandatory Provident Fund (MPF) The full name is a mandatory policy formally implemented by the Hong Kong government on December 1, 2000 to help the aging working population to have enough savings for their retirement. With the exception of a few individuals who are exempted, it is mandatory for all employed persons in Hong Kong between the ages of 18 and 65 to participate in the MPF scheme. Renewal is still mainly based on MPF and financial contribution. Things like buying a house or a car do not play a big role in visa renewal. The main point is to find a real and well-run company to employ you.

Employees and employers covered by the MPF system are required to make regular contributions to the MPF scheme. Generally, employees must reach the age of 65 or for individual reasons before they can withdraw their contributions for retirement.

Contributors to the MPF: The MPF System is occupation-based. Except for some exempted persons, employees and self-employed persons aged between 18 and 64 who have been continuously employed for 60 days or more, whether full-time or part-time, are required to participate in an MPF scheme.

What is the monthly payment for a 2.2 MPF?

One can be submitted at 10% of the company's salary (5% for the company + 5% for the individual), for example, if the monthly salary is $10,000, then the individual and one company each need to contribute $500.

3. When can I withdraw it?

After renewal of insurance and permanent residence, you can take an oath not to work in Hong Kong anymore, at which time you can withdraw all your MPF contributions; you can also withdraw your contributions after retirement at the age of 65.

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