The H. Kong banking and financial services is regulated by the H. Kong Monetary Authority (HKMA). One of the responsibilities of the Hong Kong Monetary Authority is to ensure that the currency of H. Kong is stable against the other world currencies. It is currently pegged to the US dollar.

There are three categories of banks in H. Kong namely the License Banks, Deposit Taking Companies and Restricted License Banks. However, what you have to know about the Hong Kong banking industry is that the license banks are the only ones that are allowed to operate current or saving accounts. Retail banks are task at providing selections of different accounts tiers and services. The savings accounts can be in H. Kong dollars, US dollars or renminbi. Most of the banks in H. Kong allow their customers to link debit card, credit card, cheque, and savings to a master account. What the customers do in most cases is to exchange the minimum deposit to the savings accounts in order to avoid bank serves charges.

When you want to open an account in Hong Kong, there are some retail banks that offer their customers opening forms which you can get easily by downloading from their websites. Different banks have different requirements and criteria when opening a bank account. However, to open a saving or current account in H. Kong banking sector, you require an identification card or passport, application form and you have to provide a proof of H. Kong address. One thing that you have to know is that it is not necessary that you are a resident of H. Kong to open a bank account.

In Hong Kong cars for sale are to be found in many locations the average expat wouldn’t expect. You won’t find acres of open air lots with used cars scattered about, as open space like this is at a premium in Hong Kong. Where you will find used car dealers is in the basements of building car parks or occupying part, or all of a level of a multi-story car park. These car lots may be a single used car dealership, or many smaller dealers sharing the space.

All makes of cars are available, with some models possibly differing from your home country. The most common vehicles on Hong Kong roads would be BMW, Mercedes and Toyota. Most of these vehicles can be found, as used cars, for reasonable prices, although not many dealers offer any kind of warranty.

One thing many expats find confronting when dealing with local used car salesmen, is that many of them who are not used to dealing with us will require you to negotiate and decide on a price for the car before you test drive it. This is standard practice for many used car dealers here as to them it shows that you are serious about buying the car. Of course it should be understood that you are free to change your mind or renegotiate should the used car’s test drive not be up to expectation.

If you’re thinking of buying a used car in Hong Kong you must have somewhere to park it. May sound obvious but many apartments will not have a parking space included, or even available. There is a healthy market for car parking spaces as many people who are not using theirs often lease or sell it.