First Week in Hong Kong: Bank Account, Renting, MPF, Tax File

After first arriving in Hong Kong on a Top Talent Pass Scheme (TTPS), Quality Migrant Admission Scheme (QMAS) or Immigration Arrangements for Non-local Graduates (IANG) visa, the matters to be completed in the first week are numerous and their order matters. Compiled from the practical experience of hundreds of migrants, this checklist lists 10 key tasks and the documents required, set out in the recommended order of execution.

§1 Obtaining a Hong Kong Identity Card (Days 1–3)

This is the foundation for all subsequent steps — without a Hong Kong Identity Card (HKID), many procedures such as opening a bank account or renting cannot move forward.

Documents required: a valid travel document (passport), landing slip / visa, and a completed application form (an appointment can be made online). The first application for a Hong Kong Identity Card is free of charge. You must apply in person at a Registration of Persons Office of the Immigration Department. It is advisable to complete this within 30 days of entry; although the law allows a longer period, the sooner it is done, the better for what follows.

After applying, you will be issued an “Acknowledgement of Application for a Hong Kong Identity Card” (commonly referred to as a “temporary identity slip”), which can serve as your main identity document in the short term. The formal identity card is collected about 10 working days later.

§2 Opening a Bank Account (Days 2–4)

Hong Kong’s banking system is well developed; the main retail banks include HSBC, Bank of China (Hong Kong), Standard Chartered, Hang Seng and Bank of East Asia, among others. The basic documents for opening a bank account:

• Hong Kong Identity Card (or “temporary identity slip” + passport)
• Proof of residential address (tenancy agreement, hotel confirmation letter, or an address-proof letter provided by a friend)
• Visa / landing slip
• Some banks require proof of employment or an explanation of the source of funds

Recommendation: First open a basic savings account (usually available the same day), then open investment accounts, credit cards, etc. as needed. Visa holders can usually open an account successfully and need not worry about their status.

§3 Renting / Arranging Accommodation (Days 1–7)

If accommodation has not yet been arranged, a hotel or serviced apartment works well as a stopgap for the first month. The typical process in the long-let market is: search online → view in person → sign a provisional tenancy agreement (paying one month’s rent as a deposit) → sign a formal tenancy agreement (usually for two years, the first year a fixed-term tenancy and the second a renewable one) → pay two months’ rent as a deposit + the first month’s rent + half a month’s rent as the agent’s commission + stamp duty.

Key tip: Before signing the tenancy agreement, confirm whether the landlord permits a tenant to sign as a “non-Hong Kong permanent resident” — some individual landlords may have reservations about this.

§4 Applying for a Tax File Number (Days 3–7)

Individuals working in Hong Kong must file salaries tax with the Inland Revenue Department (IRD). The employer will normally notify the IRD after the employee commences work, and the IRD will then issue a tax return to the employee. If no employer notifies the IRD on your behalf within the first year, you may proactively call the IRD or complete Form IR6163 to apply for a tax file number.

§5 Registering for the Mandatory Provident Fund (MPF) (in step with employment)

The MPF is registered by the employer for the employee; the employee does not need to handle this personally. Generally, the employer will register the employee under an MPF scheme within 60 days of the employee commencing employment. Self-employed persons, on the other hand, need to choose an MPF scheme themselves and make contributions on time.

§6 Applying for a Local SIM Card (Day 1)

The main telecom operators in Hong Kong include China Mobile Hong Kong (CMHK), CSL, 3HK and SmarTone, among others. Most operators accept a passport and the “temporary identity slip” for application, without requiring a Hong Kong Identity Card. Monthly plans usually require a 12–24 month contract, whereas prepaid cards carry no contractual obligation.

§7 Getting an Octopus Card (Day 1)

Octopus is Hong Kong’s electronic payment system, used for public transport, convenience stores, eateries, supermarkets and the like. An adult Octopus card can be bought at any MTR station (HK$150, comprising a HK$50 deposit and HK$100 of stored value). The adult Octopus is anonymous and requires no proof of identity.

§8 Registering for Public Healthcare Services

Hong Kong’s public healthcare system is open to all Hong Kong residents. Once a visa holder has obtained a Hong Kong Identity Card, they may register at any public hospital or general out-patient clinic. After registration they may use public healthcare services (eligible-person fees apply; currently HK$50 per visit for general out-patient clinics).

§9 Applying for a Driving Licence (if needed)

Holders of a valid overseas driving licence may exchange it for a Hong Kong driving licence without a test: complete Form TD63A and submit it to the Transport Department. The applicant must be residing in Hong Kong. Non-permanent residents may also apply.

§10 Registering Children for School (if needed)

Dependant children may attend various types of schools in Hong Kong. If you plan to enrol in a local public school (government or aided primary/secondary school), you must go through the Education Bureau’s central allocation mechanism or apply directly to your preferred school. For international schools, you must submit an application directly to each school; some popular international schools have long waiting lists (ranging from 6 to 18 months), so early preparation is advised.

This article is independent editorial research and does not constitute legal advice.