Recently, our clients who have applied for Hong Kong identity have received their Hong Kong identity cards one after another.
From the customer's confirmation of the application to the approval, it lasted more than three months, through the tax planning of our consultants, so that the customer can get the Hong Kong identity with the lowest tax cost, consultation to submission for 1 month, and 45 days for approval.
Today, I would like to share an approved case to see how Easy Tax deals with incurable diseases, and finally won the favor of the Immigration Department and got the approval letter!
The total income of customer L is composed of wages and salaries, bonuses + company dividends, of which: wages and salaries and bonuses are taxed normally, and personal tax documents can be provided, which is relatively simple and easy to be recognized by the immigration department.
Relatively complicated is the company's dividend part, which is a 100% controlled subsidiary of the company held by the customer. The actual operation of the customer is that the subsidiary directly pays dividends to the customer himself, and when the customer consults us, after the professional evaluation of the eTax team, you can sign the contract and apply. In the course of operation, we inquired about the relationship documents of the two companies, which showed that the customer himself was the actual controller of the subsidiary, and the customer L provided the dividend tax documents of the subsidiary.
At the same time, through rich experience, the team tried to analyze the case from the perspective of the director of the immigration department, and the existing situation needs to provide documents that meet the requirements in order to meet the passing conditions, and professionally guided the customer to supplement and prepare the financial statements of the parent and subsidiary, the resolution of the shareholders' meeting of dividends and other documents, and finally assisted the customer to successfully pass the audit of the immigration department. Help clients complete one-person application and family immigration.
Hong Kong TTPS category
- Category A: Applicants with an annual income of HK$2.5 million or above (or its equivalent in foreign currency) in the year preceding the year of application, irrespective of academic qualifications and ages, are eligible to apply, with no quota restrictions;
- Category B: Applicants with a bachelor's degree from one of the world's top 100 universities with at least three years' working experience in the five years immediately preceding the date of application, with no quota restriction;
- Category C: Applicants with a bachelor's degree from one of the world's top 100 universities with less than three years of work experience in the five years immediately preceding the application are subject to an annual quota of 10,000.
The benefits of obtaining Hong Kong identity
Hong Kong is an internationally renowned duty-free port with low tax rates and few types of taxes. Individual income tax and corporate profits tax are very low, there are no taxes such as purchase tax, inheritance tax, import and export tax, etc., and the maximum tax rate of individual income tax (i.e. "salaries tax") is only 17%, compared with the highest personal income tax of 45% and the threshold of 5,000 yuan in the mainland, Hong Kong's individual income tax rate of only 17% and a wide range of tax brackets are very close to the people. In short, the main advantages of Hong Kong status in terms of taxation are as follows:
- Hong Kong residents can enjoy low individual income tax and corporate tax, and due to the simple tax system, it has become more than handy;
- Hong Kong residents can participate in the Greater Bay Area Talent Selection, enjoy a low 15% individual income tax subsidy, no global taxation, and only income earned in Hong Kong needs to be taxed;
- Hong Kong permanent residence can enjoy no domestic tax on overseas income, no inheritance tax, no gift tax, suitable for asset planning and allocation.
In addition, there are some other benefits of Hong Kong identity. Like what:
- Hong Kong residents, as foreigners, can enjoy foreign investment treatment when investing in the mainland;
- After becoming a permanent resident of Hong Kong and getting a passport, you can travel freely to 171 countries/countries without a visa.
- With the status of Hong Kong residents, children can enjoy the advantage of lower scores when applying for well-known universities in China;
- There is no birth limit, and children born in Hong Kong can obtain Hong Kong permanent resident status;
- One person can apply for the whole family, and the spouse and children can immigrate to Hong Kong with the main applicant.
- Children can receive an international education;
- Inland identity and domicile can be retained;
- You can also enjoy world-leading medical advantages.
Whether it is from the current case review cycle or from the requirements of some supplementary letters, it is not difficult to see that the review of the director of the Immigration Department is becoming more and more stringent, and the requirements are becoming more and more stringent.
Seize the opportunity to plan your future career with the Hong Kong High Quality and Migrant Admission Scheme! Up to now, eTax has successfully helped more than 20 families obtain Hong Kong status through the TTPS, if you are interested in applying for the Talent Admission Scheme, you can contact us to plan your application.