Differences in Corporate Tax vs Personal Tax for International Entrepreneurs

This post is originally found here: https://www.globalfromasia.com/internationalbusinesstax/

Taxes, yay! We all love taxes, right?

Well, I can’t imagine anyone jumping up and down saying “me, me, I love taxes”. But I do feel quite a few people want to have a deeper understanding of how taxes work. This is especially true when doing international business.

First, it is a dynamic and complex specialty. I am not a tax lawyer and my tips and opinions you should verify with your tax professional before implementing.

Ok, done with the disclosure. Read on to learn more about differences between corporate taxes and personal taxes.

What Is Company (Corporate) Tax?

First, let’s define what is tax for a company. The most easy way to envision this is picture a company as your baby. You gave birth to a new life, and this company has a new identity. Thus you need to report to the government about its “health” and its taxes, just like a baby will as he or she grows older.

You as the parent (shareholder and director) will be responsible for its upbringing. You need to now make sure this baby company is filing its paperwork and paying its taxes.

Following along now?

So, where you choose to give birth to this company (register or incorporate) is where you will be reporting taxes for it.

People like Hong Kong because it has a low corporate tax rate of 16.5%, and if you qualify 0% on offshore status. But let’s keep it simple and say 16.5%.

At the end of the year, your company earns $100,000 US dollars. You will need to pay 16.5% taxes on that, or $16,500 US dollars, and the company keeps the rest.

So that takes care of the company (corporate) tax. You also need to make sure you play salary tax on employees, government fees, keep the bookkeeping in order, and do the tax audit. But we’re focused on taxes today.

Now we need to talk about your taxes, as an individual.

What is Personal Tax?

Now we have finished the taxes for the company. But there is you, the “parent” of this baby company. Are you taking money out from this baby company to pay for your living costs? Or will you keep the money in the baby company’s bank account so that the company can grow faster and use that money to invest.

This is something that is tricky and we need to think about. I always like to re-invest money back into the company, but at the same time, we as the “parents” of a company need to make a living.

So, now its time to take money out of the company. And the money we take we need to pay taxes on, as a human being, as an individual.

We can take the money out as a salary or as a dividend.

If you take it out as a salary, you would hire yourself by the company and issue yourself an employment contract to work for the company. You would then need to pay salary tax on that income.

If you take it out as a dividend, it is easier. The main difference with a dividend is that you need to divide out by the percent shares you own. So if the company is 50% yours and 50% another partner, then you need to split the dividend by the percentage breakdown.

So, for example, let’s look at that $100,000 USD profit we mentioned earlier. Say you decide to issue $50,000 USD as a dividend, and keep $50,000 USD in the company for re-investing in growth. That $50,000 USD dividend would have to be an equal split between the owners at $25,000 and $25,000.

So maybe one of the owners doesn’t want to take the dividend, and the other needs the cash to pay his or her bills. Then it might make more sense to hire one of the owners to run the company and to take a salary.

This gets tricky at the personal tax level, let’s go through some things to consider next.

Where Is Your Citizenship?

What passport are you holding? Are you an American? If an American, your life just got more complicated as an international business owner.

Americans can get exempt from taxes up to a certain point if they qualify. But you will always need to file. So you’ll need to report that you have a Hong Kong company. You will need to report that earned income in the company that you will take out as a salary or dividend. Talk to your USA accountant about how you will treat this. There is different tax rules for salary vs dividend.

And if you’re an American residing somewhere else, you may also be subject to paying taxes in that country as well.

Other passport holders, let’s look now at a second criteria.

What Is Your Country of Residence?

Where you are a resident also comes into account when dealing with personal tax. If you’re a German living in Thailand, just because you live there doesn’t make you a resident. Are you on a tourist visa, which governments consider…being a tourist! Or are you on a work permit, which is the assumption that you are working in Thailand and earning an income and paying taxes.

Most places in the world where you have a passport and citizenship (except USA, see FATCA infographic). If you are a bona fide resident of another country, then you are exempt from paying taxes in your home country.

So the dividend or salary you took from your Hong Kong company, you would need to pay taxes in the country you are a resident.

The main point is, you need to pay taxes somewhere in the world. Either your “place of birth” or where you hold your passport and citizenship, or if you can qualify as a resident somewhere else.

Think About It On a Larger Scale – Multi-National Corporations

You are a bit confused. I like to step back and think about it from a big company perspective to give it the complete picture. Let’s say that a massive company has a company in Hong Kong. They have shareholders and directors and it is thousands of different people involved.

Let’s go point by point:

They would have income in their company. Same as you.

Costs, yup. Same as you – marketing, software, payroll, contractors, etc.

Directors – May have a few more than the typical small to medium sized business. This could be the C level executives or the Hong Kong company General Manager.

Shareholders – Quite a few, could be a publicly traded company. It may be 100% owned by a company in another country.

Like anywhere, this multi-national company has income and expenses. The company can try to adjust that in various countries where they have their different entities setup. This is transfer pricing. It can also transfer price by invoicing other companies in its network.

At the end of the day, they will need to report their yearly books to the Hong Kong Inland Revenue Department. The company will pay taxes based on how much it earned in the Hong Kong company.

How about the directors and shareholders of this large company? Most likely the shareholders don’t expect to live off the dividends of the company. Instead want to keep the earnings in the company to reinvest in growing the company even bigger. These shareholders are most likely hands off. They want to see their investment make a long-term return on investment. The directors, let’s say there is a CEO and a COO, will get a salary and bonus. The shareholder’s board of directors approve the salary for the directors. Lots of times there may be stock options and bonus of cash payments based on performance of this executive team.

But in a large company, the owners do not live and depend on the dividends coming out of the business.

So, just like you – the company is to make money. But it is more clear that in a larger company there is a clear separation of shareholders and directors. Yet, smaller businesses the shareholders are the same as the directors. The directors need to earn a living and also optimize their taxes.

But how does one pay this dividend and/or salary to the director is a **Personal** tax event, not the same as corporate tax event.

Worth Noting – Do All Shareholders & Directors Agree on the Payout Structure?

Since we’re on this topic it’s worth sharing. Many times people get into business partnerships and they didn’t first discuss the money! How much of the money remains in the company versus how much will the company pay out as a dividend (or salary) to the shareholders.

**Discussing this with your business partners before the company is set up is critical**. This is a critical element. When you have this discussion you will find out if all other business owners in this venture are on the same page as you.

Based on my own experience, I have been in business ventures where my partners needed to take the cash out of the business ASAP. They needed this income to pay the bills. Whereas I was more focused on reinvesting this profit back into the business to grow it.

This difference in viewpoint and goals caused a lot of tension, as one may imagine. Each side has a fair argument. My partners in the deal said that if they don’t see the money coming out of the business they’ll lose focus. They want to benefit them in the short term to help focus on building this company. I much prefer the other side of doubling down the profits to quadrupling the investment of profits.

Which do you prefer? This should definitely be a topic you discuss with your partners as soon as possible. You should cover it in your shareholder’s agreement. Or at least noted as a mutual understanding document somewhere – a piece of paper or back of an envelope on the plane ride!

Big Companies – Keeping Their Corporate Profits Overseas

It is always a hot topic in American news. Massive comglomorates who make tons of money “offshore” or in international markets. These companies keep this millions (or billions) of dollars earned in these foreign companies. Then rather than sending the cash back up to the US company, the invest it overseas to delay the American taxs.

Again, we’re separating our personal taxes from company taxes. Remember, it is like a separate person. So Apple is earning tons of money in China on iPhones and other products. The company earns this cash from sales in China, but their headquarters is in California wants the tax money. The US government would love for them to wire transfer those billions to their USA bank account. This would then create a huge bump in revenue in their USA company, which translates to tax liabilities.

How This Applies To A Small Business Owners

Don’t have businesses setup around the globe? So you don’t have the leisure to decide where to report your billions of dollars of earnings, poor you! And poor me! There are things you can learn from this though. If your company makes money, it doesn’t mean you as the shareholder or the director are making money – at least in the short term. If your company is reinvesting the profit and not sending you the cash, you can wait. At least for that tax year – then you will not be liable for those taxes – as an individual.

Make sense? Again, it is critical that you separate your personal tax from your company tax situation. Company may earn a profit this year. But if it doesn’t send the money to the shareholders, or pay out as salary to the directors, then those individuals won’t be paying personal taxes on it that year.

Hope this helps. The laws and the places in the world where you are a resident or citizen may make this a different situation. So please ask a licensed accountant in your country where you file your taxes as an individual.

Focus On Building Your Business – Not Tax Shelters

I want to end today’s guide with a reminder. A lot of tax specialists always stress that the business exists to get customers and earn profit. It is not about spending all your time trying to avoid taxes.

Think of Google or Apple. They started in garages in California with a few people. I can’t imagine Larry Page or Steve Jobs sitting in their garage discussing how to setup offshore corporations. They’re not focused to avoid paying taxes on the small or non-existent revenue they were making.

That was all setup later, but expensive CPAs and corporate lawyers.

So if you’re reading this and at the early stage of your business, please save your brainpower. Put that energy on building your product and getting customers.

If you’re already past the early and middle stages of your business and want to get more advanced, sure, let’s talk!

How was this guide, please let us know by sharing your comments or questions below!

WeWork co-working space coming to Shenzhen, now hiring

The unicorn of co-working spaces is coming to Shenzhen

co-working space
co-working space

When we were looking to relocate our new office, we found that WeWork is hiring in Shenzhen. WeWork has four Shenzhen job openings on their website at the time of this writing. With the dearth of co-working offices in Nanshan district we hope that WeWork brings the cool office concept to Futian first.

coworking

List of WeWork Jobs in Shenzhen

We are excited to have the gold standard in startup office space coming to Shenzhen. It could be very convenient for those border hoppers that work at WeWork Hong Kong and need a space for their sourcing expeditions in the Greater Bay Area. Will also be convenient for those China NakedHub customers that are now part of the WeWork family. We have not heard an official opening date yet. In the meantime check out the office resources below:

Resources:

Enjoy a Night Out With The Fam in Hard Rock Hotel

Who needs a reason to go out and stay in a nice hotel with the family?

Mike’s Blog 169
mikesblog.com/familynightout

Pretty much this is great timing. I need a night out – and as always – mixing family and business. Hard Rock Cafe (and hotel) is opening up in Shenzhen and invited us over. Thanks Matt from Shenzhenparty.com for the connection, Hard Rock is of course world famous and it’s awesome to see them come to Shenzhen, China.

So why did I come over for a night in the city I live in?

Well, I was invited – to discuss business! And why not have the family come along and enjoy.

We are discussing with them to host future Global From Asia events here – as it has all the amenities as a resort. Its up in Mission Hills and if you are coming up here, may as well stay the night (about 30 minutes drive from downtown).

Roaming around the hotel, there is a nice lounge (where I’m writing this blog from) and a rooftop pool and meeting area / networking area. Will be checking out the conference rooms later and brainstorming some ideas for GFA events here.

Not sure what you think, but I am happy to be integrating my family life and business life – the kids really have enjoyed roaming around the resort, and are able to try out the kid’s play area while I have my meeting. I think complete separation of personal and business is close to impossible as a business owner. I guess I could have left them at home and came up on my own but I would have felt guilty!!

Life can be grey, but that is what makes it beautiful (in my opinion). I used to seek the black and the white – the answers – of life – but what I have found is that there will always be this overlap if you are taking a non conventional path in your career / life.

Ok, time to try out this hotel’s breakfast and see the conference rooms, cheers!

So this vlog extended a bit – after the Hard Rock experience – Wendy dropped me off at the Hong Kong border and I headed down to Mike The Greek’s wedding in Hong Kong. Time is really flying I met him (via Brian Tam) back in Shanghai in 2012! Now he is living and doing his PHD in Hong Kong and married. So I had to attend – even if it was “deep” in Hong Kong (I didn’t realize it was almost on the furthest point away from China – down near Chai Wan). A quick wedding but got me teary eyed a bit – they are so happy together.

And at that wedding, I got to hang out with Doug and Witty – who I was best man at his wedding and featured their wedding back on Mike’s Blog episode 19 – wow – like 150 episodes ago. So happy to be able to document some of this insane travels and international experience.

So this blog turned into a “one day” experience into a 2 day. Hua Qiang bei tour, to Hard Rock cafe to a greek wedding in Hong Kong. Life can be very simple, or very complex. I choose the more complex way.

What about you? Are you looking for the normal path, or a more “complex” path. There is the saying – your NETwork is your NET-worth. For me I feel definitely rich in that experience, so many amazing friends around the world.

Now back to the work week and grind. Creating more content.

Place Name: 深圳硬石酒店 Hard Rock Hotel Shenzhen
Place Address:  NO.9 Mission Hills Road, Shenzhen, China
深圳市龙华新区观澜高尔夫大道9号
Place Phone: +86 (755) 3395 2888

The Lord Provost of Edinburgh Visited MIS

On 13 May 2018, the founding Head of Merchiston International School, Mr Chris Lynn, was delighted to welcome to the Shenzhen campus the Right Honourable Lord Provost and Lord Lieutenant of the City of Edinburgh Frank Ross, City of Edinburgh Councillor Kate Campbell, Mr Martin McDermott, First Secretary Scottish Affairs, Dr Jiangtao Ma General Manager Edinburgh-Shenzhen Creative Exchange and Mr Simon Shen, General Manager of Scottish Development International, as well as representatives of the Foreign Affairs Office. 

The Lord Provost of Edinburgh visits Merchiston International School
The Lord Provost of Edinburgh visits Merchiston International School

During his visit, the Lord Provost said that “It is breathtaking to see what you have achieved here in Shenzhen in such a short time and fantastic to hear you are using Edinburgh manufacturers and suppliers for the authentic Scottish look and feel of the School. I bet the students can’t wait to come here to take advantage of exchange opportunities. It is fantastic for Edinburgh that you are the first school in Scotland to set up an overseas campus and I very much look forward to coming back to Shenzhen later this year to see the school running”.  

About MIS
MIS school campus
MIS school campus

Merchiston International School (MIS) is the first and only school in Shenzhen providing a British education and boarding system. Located in Longhua District in the north of Shenzhen city, MIS occupies a ground space of 20,000 square metres providing a building area of 50,000 square metres, which can accommodate 1,200 students with a maximum class size of 22. The school will open its doors to boys and girls aged 5-18 (Years 1 to 10 and 12) in August 2018. English is the primary language of instruction in MIS. Students from Years 1 to 9 study the English National Curriculum, with additional access to Mandarin (Putonghua) language learning as part of the core curriculum. Students from Years 10 to 13 study for IGCSE (International General Certificate of Secondary Education) examinations and GCE (General Certificate of Education) A Level examinations.

Adopting Merchiston Castle School’s ethos, MIS features a wide range of co-curricular activities, supported by state-of-the-art teaching and sports facilities. MIS also provides students with impressive facilities including on-campus libraries, multi-media classrooms, integrated science laboratories, a black box theatre, an indoor swimming pool, tennis courts, a fitness suite, and tastefully landscaped areas.

Inheriting Merchiston’s boarding house system, MIS provides a family-style boarding system with high-quality child protection, safeguarding policies and procedures. Additionally, the School dining hall provides healthy and balanced menus using organic ingredients where possible and implements the highest standards of food quality and safety, to ensure that students’ dining experience is not only delicious and palatable but safe and healthy. 

MIS will enroll its first students in August, 2018. MIS will open its door to students from all around the world and expand Merchiston’s fine traditions and high standards in China.  

FOLLOW MIS WECHAT BY SCANNING:
Place Address: No. 12 Shilongzai Road, Dalang Sub-district, Longhua District, Shenzhen 深圳市龙华区大浪街道石龙仔路12号(大浪时尚小镇)
Place Phone:  +86 400 867 0177

GBG-Our New Insurance Partner Global Benefits Group

GBG leads the way in providing international employee benefits

Global BenefitsGroup (GBG) is the largest independent, fully integrated provider of international benefits in the world. In 2017, GBG celebrates its 36th year of serving the needs of expatriates, third-country nationals and local nationals. Because of our unique underwriting platform, GBG can offer a multitude of insurance products –including health, life, travel, income replacement and special risks – to individuals and groups of any size anywhere in the world. As globalization of the world’s economy has continued to accelerate, GBG has developed customized products that are desperately needed by international and multinational companies.


Global Benefits Group

GBG作为全球领先的产品开发者和服务供应商,专注国际保险市场已有30余年。 GBG为侨民、第三国民、本土高端人士或上述人群组成的团体签发健康、人寿、失能及其他特色保险。GBG目录中的产品由其独有的保险及再保公司联合经营,致力于保障跨越地界生活和工作的组织及个人。GBG通过其上海、北京分公司和全球其他四个行政服务中心为客户提供服务:位于美国加州Foothill Ranch及印度Hyderabad的GBG国际理赔服务中心;位于加拿大安大略省多伦多市的GBG全球紧急援助中心及7天24小时热线服务中心;位于中国北京的GBG 7天24小时热线服务中心。

全球总部在美国加州,为伦敦上市公司,客户遍布全球的120多个国家与城市,包括许多世界500强的企业。分公司及销售人员遍布在全球20多个国家与地区,GBG中国在上海有全面的运营中心,在北京有销售和客户服务部门。

Partners in China

Sample Card

Effective from May 2018, it is a privilege to have GBG become the insurance partner with Shenzhen HarMoniCare Women & Children’s Hospital, which is affiliated to HarMoniCare Medical Group, the largest private maternity medical group in China (HK.01509).

As the first international hospital with JCI Certification in Shenzhen, HarMoniCare has been dedicated to providing high-quality medical care and health management services for women, children and families. The available departments range from Internal Medicine, Pediatrics, Gynecology, Obstetrics, Stomatology, Traditional Chinese Medicine, Cosmetology to high-profile physical examination. We adopt and advocate an American-style safety and therapy system of advanced medical technology and management level, offering our customers safe and green care.

 

In order to meet the increasing needs of international customers in Shenzhen, we are working closely with more than 50 international insurance companies, offering the direct billing services for friends from all over the world. Moreover, we provide 24-hour reception in English, Japanese and Korean to facilitate the services for our customers.

Our Insurance Partners

我们的国际保险合作伙伴

Place Name: Shenzhen HarMoniCare Women & Children’s Hospital深圳和美妇儿科医院
Place Address: Nantou Ancient City, No.12018, Shennan Road, Nanshan District, Shenzhen 深圳市南山区深南大道12018号南头古城旁
Place Phone:  English:(0755) 3391 9139 / Japanese/Korean: (0755) 3391 9125/ For emergency: 18025381584 / For cooperation: Cosmo , (0755) 3391 9136

LANGHAM HOSPITALITY GROUP APPOINTS STEFAN LESER AS CHIEF EXECUTIVE OFFICER

Langham Hospitality Group today announced the appointment of Stefan Leser as Chief Executive Officer. Based in Hong Kong, he will oversee all aspects of the group’s global portfolio of hotels, resorts and residences, and will be providing strategic guidance to achieve the company’s vision, implementing organizational processes for all divisions, and leading the global expansion drive.

Leser has nearly 30 years of experience in the travel and hospitality industries, most recently at Jumeirah International where he was the group chief executive officer and a member of the board of directors. At the Dubai-based company, Leser was responsible for several significant milestone projects, such as the inauguration of The Terrace at Burj Al Arab and the completion and launch of Jumeirah Al Naseem, the group’s luxury hotel overlooking the Arabian Gulf.

Prior to joining Jumeirah, Leser held senior roles for more than a decade at Kuoni Travel Holding Ltd., the leading Swiss travel services provider. As a member of Kuoni’s executive board and executive vice president of the outbound and specialists division, Leser directed the company’s travel businesses, covering the Nordics, United Kingdom, Benelux, India, China, Hong Kong, and Switzerland. He was also responsible for all businesses specializing in inbound destination management which had a purview of US$3 billion in revenues and 8,000 employees. Leser has also spent six years working in the information technology industry with Swissair and EDS Corporation.

He holds a MBA from Augusta State University of Georgia (U.S.)  

“Langham Hospitality Group has a solid reputation with a fine collection of hotels in four continents,” said Leser. “The company is definitely ripe for expansion into new markets and I look forward to leading the team to deliver highly personalized service and support the future growth of the group’s outstanding portfolio of hotels and residences.”

About Langham Hospitality Group

As the wholly-owned subsidiary of Great Eagle Holdings, Langham Hospitality Group encompasses a family of distinctive hotels under the Langham Hotels and Resorts and Cordis Hotels brands with more than 30 projects currently either confirmed or in a developed stage of negotiation from Asia, Europe and North America to the Middle East. The Group takes its name from the legendary Langham in London which was widely recognized as Europe’s first Grand Hotel. For 150 years, this flagship hotel has represented sophisticated and gracious hospitality, a philosophy that reflects elegance in design, innovation in hospitality, genuine service and captivation of the senses across all properties. For more information, please access the website at www.langhamhospitalitygroup.com.

Place Name: The Langham, Shenzhen

Place address: 7888 Shennan Boulevard, Futian District, Shenzhen 518040, China

Tel:  (86) 755 – 8828 9888 M (86) 18576769916

Website: www.langhamhotels.com/shenzhen

 

[Review] Photo Gallery –HIBC Mother’s Day

carnation

Mother’s Day

Don’t be shy to show your love on this special day which full of tenderness and love.

Let’s express our love to our great mom with a meaningful gift.

The flowers are blooming in May, the carnations symbolize the mother’s eternal love.

HIBC prepared beautiful carnations as gifts to give to all our clients.

Happy Mother’s Day!

Let’s review the event now:

Lady 1

Ladies 2

Lady 3

Lady 4

Lady 5

gentleman 1

Our gentlemen got the carnations as a gift for their wife or mom.

gentleman2

HIBC members joined our mother event again.Thank you for your support!

The event ended successfully.Thank you for your enthusiastic participation!

We hope more customers and fellows will participate in our event in the future!

HIBC Co-working Space

Buy One Get One Free! Limited time special offer!!

HIBC co-working space promotion:

1500 RMB/desk/month

✔ Pay for 1 desk get another desk for free.

✔ Pay for 1 month get 1 month for free.

(you can enjoy one of the promotions above.)

HIBC Co-working Space1

Working here, we will provide you with a high-end working environment to improve your company’s image;

Working here, we will provide you with comfortable and convenient services;

Working here, you will be inspired and creative…

HIBC Co-working Space2

Long-press the QR Code, tap”Extract QR Code” to Follow “HIBC弘夏国际商务中心” on Wechat:

HIBC弘夏国际商务中心 QR code

Not matter you are a strartup, small business or representative office…There must be an office for you here!

For more  information please contact us

Email/邮箱:info@hibcsz.com

Tel/电话:+86-755-23823860

Add:Room 3807~3809,1601,Block A, Xintian CBC building, Fumin Road, Futian, Shenzhen

地址:深圳市福田区福民路新天世纪商务中心A座3807~3809,1601

Metro: Exit F, Shixia  metro station

地铁:石厦站F出口

Xintian CBC building

Map

 

Features to Look For In Your Hong Kong Bank

This article is originally found here: https://www.globalfromasia.com/hkbankfeatures/

Which Hong Kong Bank Features To Look For When Selecting a Bank Account

As the global banking system has gotten more selective and difficult, more and more people are contacting me when they got rejection letters. A lot of times this is HSBC HK as everyone goes there first.

Are you one of these people getting the rejection letters? Or maybe your account closed?

You have a Hong Kong company setup, but without a bank account, how can someone do business? Crazy right.

So the scramble for bank account alternatives to HSBC comes up.

Today I’m going to go through the various features you want in a bank account, and give some other banks to look at.

Multi-Currency Account

Because we are global business people, we need to handle multiple currencies. The thing people love about Hong Kong is the ability to hold so many currencies. Many countries force clients to convert into their home country currency such as US dollars or Chinese Yuan.

But having a multi-currency bank account in Hong Kong is a feature you need to request when applying.

And there are a few small differences:

  • Multi-currency savings
  • Multi-currency checking

The line between savings and checking accounts have blurred over the years. But the main difference is a checking (also called “current”) is that you can access it from an ATM account. Sure, there are some ATMs that let you choose between checking or savings. But when you’re traveling internationally or not at your home bank, you don’t have that choice always.

But multi-currency is a key feature in a bank account, and let’s use this as top criteria in selecting top bank accounts to apply for here.

Online Banking

Yes, I’m typing this in in the year 2015 and still there are many banks with none or limited online banking. I hate to say it, I have to say a decent amount of Hong Kong banks that leave a lot of room for improvement for online banking. HSBC has the best for online banking, and that is still nowhere near as convenient as international and American banks.

But besides HSBC, which banks have good online banking?

First, let’s define good online banking.

  • Able to view your account balance and activity
  • Able to send payments and international bank transfers (wires)
  • Email alerts on various types of account activity (incoming deposit, outgoing wire, bill payment)
  • Multiple user login, with various account level access to allow your bookkeeper access and not able to send outbound transfers.
  • Download / Export transactions as a CSV file or Excel.

Think these are the core functions of online banking. Other things I would classify as “nice to have”, but these you need to use online banking.

Visa / Mastercard Debit Card

Custom Headline

Have you seen bank cards that you are not able to use when buying things online or at shops?

Yes, those exist.

They are only valid at the banking ATMs inside Hong Kong, either in their network or other Hong Kong banks. They will not work outside of China, even in Mainland China.

This is a big problem for global business people like us right?

We need a bank account that gives us a Visa or MasterCard “backed” debit card. So we can use them at ATMs around the world. But not just the basic function as getting cash from an ATM, but also the ability to make simple daily business purchases when out and about.

While this may seem like a basic function, we may need to ask for this feature when applying to a bank. And they may not have the option! Or, they will charge a one time, or monthly fee to have this functional debit card.

Reasonable Monthly Fees

No one is a fan of bank fees.

Yet around the world, bank fees have been creeping up more and more. I predict it is due to low interest rates. As higher overhead costs the banks need to follow with international regulations.

So these costs get passed down to the user, us, in the form of monthly fees or all kinds of crazy transaction fees.

So our alternative Hong Kong bank account needs to have reasonable bank fees.

What is reasonable? Well, let’s baseline it to HSBC HK, which is 50 HKD (approximately $6.50 USD) per month. The bank can waive this fee if you maintain a monthly average balance of 50,000 HKD ($6,500 USD) as of writing today’s guide.

I’ve seen monthly fees as high as 300 HKD ($40 USD) from certain HK banks. You can avoid it by having a minimum balance of 200,000 HKD (approximately $25,500 USD).

So we need to be cautious of bank fees when selecting a bank account.

Custom HeadlineLow / No Application Fee

In all my years with Hong Kong business, I have not seen application fees for banks. But lately I have seen them pop up more and more.

The banks require you to pay the fee upfront and non-refundable even if you get rejected. The justification for these fees is that nowadays there is more and more “red tape” or paperwork due to FATCA regulations for all clients. This is a lot more paper that you need to fill out, mailed around, and warehoused for years.

Who is going to pay for that?

Banks seem to want to pass this down to clients.

So let’s be weary of these new application fees for Hong Kong banks. These are popping up all the time, so keep your ears open when going to your bank account opening interview.

Also, I may miss some of these over the years and months, so if you can leave a comment to help me and others out, that would be amazing!

Decent Customer Service

Customer service, that is decent.

I’m not going to get into cultural differences and customer service in today’s article. But I will just say, that we want to have basic and polite service when dealing with our banking needs.

I’ve been in bank account application interviews and the account representative is…not engaged with the client. They say that this is the way things are, and that if they don’t like it they can apply somewhere else. This comes out a bit rougher when typed out today, they say it in a more soft tone.

But because bank accounts have gotten more “exclusive” to get, the bankers feel that we should be happy they are talking to us and considering our applications.

Let’s vet out banks who have poor customer service. I’m hoping today’s guide can keep up to date with other people’s experiences.

What Is Your Hong Kong Banking Plan?

Hope this helped you out. Hong Kong is a great place to do business. Once you get the bank account! While the banking solutions on the market today may have some things left to be desired, it is much better compared to other options in Asia.

What is your next step?

The team at Global From Asia is offering a full service banking application service. We understand your current business and banking requirements and work alongside you. As the banks around the globe get more challenging to apply for and get approved for, it is more of a headache than ever! We have worked with many clients to get the banking application and approval process streamlined and would love to work with you!

Apply now for the banking application service.

联投东方万怡酒店即将启幕 Courtyard by Marriott Shenzhen Bao’an OPEN SOON

作为深圳首家万怡品牌酒店,深圳联投东方万怡酒店坐落于深圳宝安区松岗镇商圈核心地带,未来粤港澳大湾经济区内,毗邻光明新区、宝安机场和福永码头。酒店设有247间现代化客房和10间套房分设20层至29层,同时配备全日制餐厅、行政酒廊和设备先进的多功能会议室。酒店秉承万豪国际酒店卓越的管理文化及服务理念,凭借享誉全球的万豪服务,力求为每位宾客奉献卓而不凡的品质体验。

As the first Courtyard hotel in Shenzhen, Courtyard by Marriott Shenzhen Bao’an is located in the heart of Songgang, Bao’an District. Next to the economy zone of Guangdong-Hong Kong-Macao Greater Bay Area. It’s very convenient to the Guangming new district, Bao’an Airport and Fuyong Ferry Terminal. The hotel offers 247 deluxe guest rooms and 10 suites. Each room is designed in a chic, modern style featuring abundant natural light. Courtyard by Marriott Shenzhen Bao’an promises to be a coveted destination for successful meetings, conferences, weddings and events. Served with local cuisine, the restaurant and bar bringing you food delights and unique dining experience.

交通位置

Location & transportationLocation & transportation

驱车15分钟即可抵达光明城高铁站,20分钟抵达深圳宝安国际机场。酒店周边配套有东方park商业中心,集办公、购物、餐饮、娱乐、展示为一体。

15 minutes to Guangming High Speed Station, 20 minutes to Bao’an International Airport. The hotel is equipped with Dongfang Park shopping mall, which intergrates office, shopping, catering, entertainment and display.Courtyard by Marriott Shenzhen Bao'an RoomCourtyard by Marriott Shenzhen Bao'an Room

客房

Rooms

拥有247间的精美及独特客房和10间套房,俯瞰繁华的城市景观,现代化装饰风格,简洁明亮的设计,典雅宁静的时尚气息及温馨舒适的布置为客人提供完美体验。

247 exquisite guest rooms and 10 suites, you can overlook the prosperous urban landscape. Modern decoration style and concise design provides guests with perfect experience.

万荟轩

Pavilion

万荟轩餐厅-简约空间里的开放式盛宴,早餐提供选择多样的中西式自助早餐,午餐是独具特色的广式经典茶点,晚餐时分则提供品种丰盛的海鲜自助晚餐,中西式美味让您在舒适放松的环境里大快朵颐。另设四间豪华包房尽显您尊贵品味、是您款待宾朋、阖家相聚的理想之选。

The Pavilion restaurant has 180 seats and four private room, which is an ideal choice for you to spend time with friends or business dinner. We offer delicious breakfast buffet every morning, classic Cantonese Dim Sum at noon and lavish seafood dinner buffet at night.  Enjoy the specialties delights in the delicate and fashionable environment.Pavilion Restaurant

大堂吧

Lobby Lounge

透过玻璃窗你可以选择静逸与喧嚣,在光线变换间与日夜亲密接触。日间可沏一壶茶,细细品味;或畅享各式软饮与甜品带来的喜悦;或约三五知己来一份精致的下午茶。夜幕降临,一杯精心调制的鸡尾酒,一杯圆润丰厚的红酒,让你卸掉一天的疲惫,放松于音乐的抚慰之中。

Spend your time with a pot of tea,  or the selected dessert and soft drink, or delicious high tea in the day. At night, relax yourself  with a cup of cocktail or red wine, immerse in the intimate  music atmosphere.Lobby Lounge

行政酒廊

Executive Lounge

高踞酒店28层的行政酒廊,尽览迷人景观,专属款待行政楼层住客及万豪礼赏会员。

The Executive Lounge sits high on the 28th floor. Here, enviable level of personalized services and exclusive benefits are extended to executive floor guests and Marriott Rewards Elite Members.Executive LoungeExecutive Lounge

会议设施

Meeting Facility

755平方米的会议空间,包含432平方米的大宴会厅和5个多功能会议厅。会议空间设计简单高效,通过水平隔断的设计,宾客根据需求可分开单独使用,也可联通为整体空间。融合潮流设计及先进设施设备,是举办时尚盛会、婚庆安排、商务会议的理想之地。

755 square meters of meeting space, including a 432 square meter grand ballroom and 5 function meeting rooms. Featuring with high-level audio and video equipment, accommodate essential function to cater meetings in different scales.Meeting Facility

健身中心

Fitness Center

健身中心位于酒店四层,为宾客提供多种健身和娱乐的选择。健身房配备先进有氧运动和力量健身器材,以及多种自由重量的器械。

The fitness center is located on the fourth floor of the hotel, providing guests with a variety of fitness and entertainment options. The gym is equipped with advanced cardio and strength fitness equipment, as well as a variety of free weights equipment.

地址 Address:深圳市宝安区松岗东方大道46

No. 46, Dongfang Road, Songgang, Bao’an District, Shenzhen

电话 Tel: 0755-2986 9888

网址 websitewww.courtyardshenzhenbaoan.com

T’ang Court at The Langham, Shenzhen Named “Restaurant of the Year’’ by Restaurant Review

Spring is a season of colours and celebration. In April 2018, T’ang Court at The Langham, Shenzhen was named “Restaurant of the Year” by Restaurant Review as part of the magazine’s “2017-2018 Chinese Restaurant Award”.

                                                           “Restaurant of the Year”   

As China’s first dedicated restaurant review magazine, Restaurant Review is widely regarded as an authoritative and objective guide that provides readers with useful and interesting reviews and information. The “2017-2018 Chinese Restaurant Award” started in the second half of 2017 and after eight months of voting, the award winners were announced.

As the sibling restaurant of the Michelin 3-Star restaurants in Hong Kong and Shanghai, T’ang Court at The Langham, Shenzhen is known for its perfect interpretation of Cantonese cuisine, delivering a refined dining experience with masterful cooking skills, the freshest ingredients and wonderful service.

                                                                            T’ang Court

T’ang Court’s Executive Chinese Chef, Mr. Tsang Chiu King, a celebrity in the culinary scene in mainland China and Hong Kong, is the soul behind the Michelin starred restaurant. By combining the essence of traditional Cantonese cuisine with unique culinary ideas, Chef Tsang and his team tantalised many taste buds with their ingenious creations. Classics such as Baked Crab Stuffed with Cheese, Stir Fried Shrimps with Egg White and Fried Rice with Silkie Chicken won over the palate of many food enthusiasts.

                                                             Chef Tsang Chiu King    

It was no surprise then that T’ang Court at The Langham, Shenzhen was awarded as the “Restaurant of the Year” by Restaurant Review during the “2017-2018 Chinese Restaurant Award”.

Located on the 3rd floor of The Langham, Shenzhen, T’ang Court integrates traditional architectural elements with modern, luxurious furnishings to create a tranquil, peaceful retreat for diners. The experienced chef team offers a wide selection of lunch and dinner menus. Those looking for a more private space for a business dinner, romantic getaway or family gathering can book one of the six well-decorated rooms, each named after a famous poet.

                                                  Stir Fried Shrimps with Egg White 

About Langham Hospitality Group 

As the wholly-owned subsidiary of Great Eagle Holdings, Langham Hospitality Group encompasses a family of distinctive hotels under the Langham Hotels and Resorts and Cordis Hotels brands with more than 50 projects currently either confirmed or in a developed stage of negotiation from Asia, Europe and North America to the Middle East. The Group takes its name from the legendary Langham in London which was widely recognized as Europe’s first Grand Hotel. For 150 years, this flagship hotel has represented sophisticated and gracious hospitality, a philosophy that reflects elegance in design, innovation in hospitality, genuine service and captivation of the senses across all properties. For more information, please access the website at www.langhamhospitalitygroup.com.

Place Address: Level 3, The Langham, Shenzhen, 7888 Shennan Boulevard, Futian District, Shenzhen 518040
深圳市福田区深南大道7888号, 深圳东海朗廷酒店, 3层
Place Phone:  86 (755) 8828 9888 ext.8923

Chinese New Year Festivities at Green Oasis School

The New Year celebrations are always an exciting time at Green Oasis School but this year it was especially true after staff and students were treated to a Song and Dance extravaganza by staff and students.  Led by Ms Sophie(Music) and Ms. Helen (Dance) three months of practice culminated in a colourful display enjoyed by the whole school community.  It was an incredible day that amazed the huge numbers of parents and friends who had joined us for the day’s festivities.  

Beginning with the combined Primary and Secondary Guzheng players, a song form Year 1 and a solo from Ms Sophie, the music proved to be the warm-up as we moved into the Dance.  Dances from nine different regions were performed by Secondary and Primary Students.  The Dance section opened with performance form the Yi.  With swirling skirts and athletic moves, Year 8 students filled the stage with colour and drama. 

Boys who are normally seen on the football pitch or basketball court s used their athleticism to make huge leaps that drew gasps of amazement from the watching students. 

The Choa Xian dance was performed next by the Principal bringing a sense of calm after the frenetic activity of the Year 8 performers. Once we had gathered our breath, the students were back, this time with an Uyghur dance featuring a lot of dramatic arm gestures, creating great shape and adding meaning to the moves. The gracefulness of the Year 10 students added to the beauty of the performance.  

 

Year 7’s interpretive play from the Gaoshan told the story of a child leaving to go and live in the big city before returning to her hometown to discover that nothing is more important than family.  This struck a chord with many staff and parents as we were reminded of the meaning of the Spring Festival. 

The Li, Yao and Zhuang dances that followed brought energy back into the show after our moment of reflection.  The precision of the bamboo dances had many holding their breath watching to see if the student would avoid being hit by the poles.  All escaped injury but there was a lot of feverish counting to make sure.  Again, the athleticism of the students was on show as they leaped and stepped between the poles and turned cartwheels across the stage. 

Our youngest dancers then performed a hair swinging dance from the Wa.  This was dizzying at times as the students flung their hair up and down and round and round while adding graceful movements to move around the stage.  Special thanks go to the Secondary Chinese department for working with the Primary students to create a spectacular that caused many a head to ache simply watching the strength of the girls performing.  

The graceful Dai dance from our Year 7 students permitted another moment of reflection as the students moved around the stage with umbrellas.  Bright and colourful, it presaged the final dance of the show. 

The Zang dance “The pure Hada”  completed he performances with a twirling dance and athletic moves.  The girls’ took the stage first creating the mood of the dance with thoughtful expressions and moves that took them from the stage to the field.  The entrance of the boys with their powerful jumps and twirls added energy to the dance.  Once again our basketball-loving boys showed that power can also be graceful. 

The event ended with a display of Cheongsam and Qipao by the teachers who were greeted to much acclaim by their hardworking students. 

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Chinese Name: Green Oasis School Shenzhen 深圳市福田区城市绿洲学校
Place Address: No 4030, Shennan Middle Road, Tianmian, Futian District, Shenzhen 广东省深圳市福田区田面村深南中路4030号
Place Phone: +86 (755) 8395 9000

Green Oasis School – The Great Fire of Shenzhen

At Green Oasis, we have had a focus on fire safety this year.  Our Year 2 “Fire and Ice” topic gave us the opportunity to take this to the next level.  As a British curriculum school, one of the History units covered is the Great Fire of London. The children discover and discuss what living conditions were like at the time and then investigate how the fire spread.  As a practical experiment, they build houses in art and (safely) set fire to them to show how the fire happened.  This year, we had very special guests as the Tianmian Fire department came to not only give a fire safety talk but also to put out the fire.  

The houses students had created were the biggest ever built (by Year 2) 

So the firemen prepared the hose. 

Mr Li very bravely started the fire, though it seemed very reluctant to start – we are sure the Great Fire did not take this long to catch and spread.  Once the houses were firmly ablaze the firemen set to work.  

Something that the firemen very quickly proved is that it is very hard to put out a fire as it seemed to take quite a long time.

Once the fire was safely out – and the firemen kept checking to make sure – they gave a safety talk including a demonstration as to how to escape from a fire.  

Following the demonstration, the firemen bravely withstood the questioning from our intrepid Year 2 fire investigators before returning once more to keeping Tianmian safe.

Our thanks go to the Tianmian fire brigade for their help in keeping our village safe and for the excitement of their visit.  We look forward to their return next year when a new group of fire investigators study fire safety.  

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Chinese Name: Green Oasis School Shenzhen 深圳市福田区城市绿洲学校
Place Address: No 4030, Shennan Middle Road, Tianmian, Futian District, Shenzhen 广东省深圳市福田区田面村深南中路4030号
Place Phone: +86 (755) 8395 9000

Hong Kong/Shenzhen Border Crossing Information

Aqua Luna, a Chinese Junk in Victoria Harbour, Hong Kong. (Wikimedia Commons/Mk2010)

This is a guest article by our friends at GlobalFromAsia.com who is hosting their third annual Cross Border Summit on April 20–21, 2018 here in Shenzhen, China — we hope this helps many of you crossing into the Shenzhen city — for that conference any many other reasons!

Passing over the Hong Kong border is a routine whether you are a foreigner living temporarily or permanently in Shenzhen. Based on the visa that you may have, there might be a need to leave Mainland China every month, or you may come and go as long as you want. Easy to understand instructions and a few reminders will help you how to cross the border to Shenzhen worry-free.

You might be wondering where to cross the Shenzhen border. For those who make their living in Shenzhen, the most convenient way is to navigate one of the many land or sea borders straight to Hong Kong. Majority of the people make an abrupt turnaround and traditionally journey back by way of China customs while some settle for a few days for some leisure breaks or go on a shopping spree.

A great number of foreigners usually have choices when they wish to cross the border to Hong Kong and vice versa. These land borders include Luohu, Huangguang, Futian, Shenzhen Wan, and Shekou. Wherever you live in Shenzhen, most of the border checkpoints can be accessed either by a taxi or metro train. In case you choose to ride a taxi, just say where you want to go followed by the word kou’an which means “border.”

Luohu

Luohu is considered as one of the most active border crossings between Hong Kong and Shenzhen. It is a pedestrian crossing that connects Shenzhen with Hong Kong in the middle of Luohu and Sheng Shu in the New Territories. The simplest approach to travel to this place is to take the metro train to the Luohu stop, and you will arrive at the Shenzhen Railway Station. The railway station has high-speed trains with destinations to Guangzhou and other stops outside the Guangdong Province.

Photo Source: Booking.com

The Shenzhen Railway Station is so busy with different nationalities boarding the train and vigilance is a must because of several pickpockets. From the train station, you just have to pass the HK Immigration where you need to fill out forms before boarding another train that could take you to Kowloon. After being cleared with the immigration, you can purchase an Octopus card for your next  destination. The crossing opens from 06:30 to 24:00.

Huanggang

Photo Source: Global From Asia

Barely west of Luohu, you will find the Huanggang border crossing which is distinctly structured for transportation. If you don’t want to get caught in the morning and evening commuter flow, this crossing is more hassle-free, and traffic jam is reduced. One advantage of navigating this border is its 24-hour operation where you will find buses bound for various stations in Hong Kong.

Many expats residing in Shenzhen who wants to go to Hong Kong for some nightlife, cross the Huanggang border. Expect that when you enter, you will be inspected by China Immigration with the crossing situated on the Shenzhen side. Once on the bus, never lose your yellow bus ticket because you will need to hop on another bus after traversing from the mainland part to the HK frontier.

You can purchase a minivan ticket if you want to go to the Hong Kong Airport River without the need to leave Shenzhen or Hong Kong if going to immigration. Huanggang does not have metro or train at Hong Kong or Shenzhen side, only buses and private vehicles. It is 24 hours open and can be contacted at +86 755 83395171.

Futian Border Crossing

Photo Source: Shenzhenparty

Futian is one of the land borders that can be reached by train. You will find the crossing at the Futian Kou’An Metro Train Station which is the most recent Shenzhen/HK Metro Border Crossing. This pedestrian crossing links Shenzhen with Hong Kong between Futian Kou’An as well as Lok Ma Chau in New Territories.

Futian Border Crossing is somehow comparable to the Luo Hu Border Crossing in terms of how you will go to your next destination. Here, you will also need to purchase an Octopus Card for Hong Kong Metro. But, in this crossing, you can depart the building and directly return to Shenzhen which is favorable for “Visa Runs.”

Shenzhen Wan or Shenzhen Bay

Photo Source: Getty Images

 

This bustling border crossing is located in Nanshan District with no available metro station for transportation but with taxis to take you to your destination. Once you’re done with the HK Customs, you can both ride a bus or taxi and go over the one-kilometer long bridge that could take you to several locations.

In the midst of peak hours (8:30 am to 12:30 pm and 5:30 pm to 8:30 pm) the hanging time for authorization is longer. And when comes the holidays, weekends, and travel seasons you need to have a lot of patience while waiting for your turn to be cleared by the immigration. The border is open from 6:30 am to 9:00 pm. Coaches and taxis are the main transportation here.

Shekou Ferry Port

Photo Source: Wikipedia 

 

People who live and work in Shekou can conveniently travel to Hong Kong by ferry. There will be a free shuttle service provided by the old ferry terminal that can take passengers to the new ferry terminal. The free ride runs every 10 minutes starting 6:30 am to 11:00 pm and the ride takes only eight minutes. The old ferry can be reached either by car or metro. Once on the new ferry terminal, you can board ferries on its way to the Hong Kong International Airport, Hong Kong Island, Macau and Zhuhai.

Octopus Card, Metro or Shenzhentong Travelcard

Photo Source: Klook 

 

This electronic card is essential because it is generally used as payment upon riding a bus or metro when border crossing HK/SZ. Purchasing one will save you the hassle of waiting in line with other people buying their tickets at the station. Another advantage of getting this card is the discount you are entitled to every travel. You can buy the Shenzhentong card directly from the station itself or any 7/11 stores and pay 100 renminbi.

If you bought a Metro or Shenzhentong Travelcard, do not lose the receipt that contains the card ID number. You will use this if the card becomes lost or stolen. You need to keep in touch with the station where the ticket was bought and cancel the card. It would be better if you have the receipt available because you get the balance reimbursed excluding the deposit.

Getting To Know Shenzhen

Shenzhen is in the top ten cities for international tourism on the Euromonitor top 100 city destinations ranking list staying at #9. It is a new and energetic city which soon became travelers’ best-in-class embodiment of their values and interests. Economic, political environment, public transportation and etc. have been intensively improved over the past few years.

If you want to get to know more do check out Nico’s video about “Getting To Know Shenzhen’ or read her article at  GETTING TO KNOW SHENZHEN

 

How Can Foreigners Get a Chinese “Green Card”?

Foreigner's permanent residence card

The Ministry of Public Security launched 16 immigration policy measures to support the construction of the Guangdong Free Trade Zone. These 16 measures mainly involved visas for foreigners, residence permits, and permanent residence cards.

Compared with existing immigration policy measures, these 16 new policies have many breakthroughs and innovations. Among them, the New Deal provides convenience for foreigners applying for a permanent residence card.

Who Are Qualified? 

  • Those who have made direct investment in China had stable investment conditions and kept good tax payment records for three consecutive years;
  • Those who have served senior management positions such as deputy general manager, deputy director etc. in China, or held senior titles such as associate professor, associate researcher, etc., enjoyed the same treatment, been in office for four consecutive years including accumulatively resided in China for not less than three years with good tax payment records;
  • Those who have had great or prominent contributions to China and are specifically needed by China; the spouse, children under the age of 18, and some immediate relatives at the age of 60 and above of the abovementioned persons;
  • The foreign spouses of the Chinese citizens or those with permanent residence status in China, who have had a marital relationship that lasts for five years, lived in China for a continuous period of five years, lived in China for not less than 9 months each year and had a stable living guarantee and domicile.
  • Aliens have been working in Guangdong for 4 consecutive years and lived no less than 6 months each year in China within 4 years; Annual salary income (before tax) exceeds 400,000 RMB for 4 consecutive years and are paid annually. Foreigners earning personal income tax of more than RMB 70,000 yuan may apply permanent residence in China after being recommended by the employer.
  • Foreign high-level talents identified by the Guangdong Province worked in Guangdong Province for three consecutive years. With working residence permit marked with “Talent”(人才)can apply for permanent residence in China.

This article was written by  Shenzhen Zix Consulting Co., Ltd

Place Address:  Room 18NO, Block B, Fortune Plaza, No. 7002, Shennan Road, Futian District, Shenzhen. 深圳市福田区深南大道7002号财富广场B座18NO

Tel: 0755-32883287

Email: sales@zixtr.com

Mobile(WeChat): 13684991963

Skype:olivialcr

 

ISNS Scholarships: The Opportunity of a Lifetime

The International School of Nanshan, Shenzhen campus
The International School of Nanshan, Shenzhen campus

The International School of Nanshan, Shenzhen, is an exceptional school. Established in 2002, ISNS has grown from only 118 students to over 800, all of whom graduate and get accepted into top universities around the world. The graduating class of 2018 includes students who have acquired scholarships at such institutes as the University of Ottowa, York University and Queen’s University in Canada, and School of the Arts Institute of Chicago, Seton Hall University and the prominent institutions Stanford University, Northwestern University and University of California, Berkeley in the United States. Cumulatively, the ISNS class of 2018 has obtained over US$554,000 in scholarship offers up to April this year, which is testament to the outstanding academic achievements of the students.

In order to give back to the community which plays such an important role in the life of the school, ISNS has decided to continue their scholarship program for the upcoming academic year. There will be five scholarships available: four will be available to prospective IB Diploma Program (DP) students, and one will be available to a current student for the Diploma Program. Successful applicants will receive a full-ride and full-tuition scholarship at ISNS for the two years of the course, providing academic standards are maintained during the first year of study. This is a wonderful opportunity for both existing students and those considering a change of school for Grades 11 and 12, or for students new to Shenzhen.  

ISNS is renowned for being the first full continuum International Baccalaureate school in Shenzhen. Throughout Grades 1 to 5 (the Primary Years Program or PYP) and Grades 6 to 10 (the Middle Years Program or MYP),it provides a unique combination of the New Brunswick curriculum from Canada and the world-recognised IB framework. Students completing the Diploma Program also have the opportunity to complete a New Brunswick Diploma as part of their studies. The key difference between a regular IB school and ISNS is that New Brunswick curriculum topics are used as the focal point for the IB units of enquiry, thereby expanding the areas covered to include provision towards the NB diploma.

The scholarships and bursaries provided by ISNS this year have been increased to an incredible total of RMB3,000,000. The school fosters a culture of inclusivity and cultural diversity, and by providing this service they ensure that their program is available to as many students as possible.

One of the fantastic aspects of ISNS is that all educational visits outside of the school are included in the tuition fees – or, in this case, within the scholarship funding. Every year groups from Grade 6 to Grade 12 take part in Service as Action and CAS trips (MYP & DP) or Education Outside of the Classroom (PYP) residential trips outside of Shenzhen. Destinations include Foshan and Yunnan Province in China as well as places which are further afield, such as Indonesia and Japan. These trips give students the opportunity to learn outside the school environment and help them to become true world citizens.

The students also plan and carry out a project to help the local or wider community as part of the ‘Service’ aspect of the IB framework. In Shenzhen students have worked with Captivating International, a charity based in Hong Kong and Shenzhen who support poor families and girls in rural China, and the Sunshine Academy which cares for and educates abandoned Chinese children. One project by Grade 11 students involved the students visiting Cambodia and building a house to help deprived local families. Other projects have included helping farmers in rural areas of China and discovering the culture and communities in different regions of China and South-East Asia.

In addition to the excursions away from Shenzhen, students also have the opportunity to take part in activities both within and after school. An extensive Arts program includes more than 23 different arts activities such as choir, dance and visual performances; sports choices are just as wide ranging, with the school participating in various inter-school events organised by Shenzhen International Schools Athletic Conference (SISAC). These events and activities are complemented by the state-of-the-art facilities at the ISNS campus in Nanshan, including a 200-metre outdoor track, a fitness centre, a 300-seat auditorium, libraries, fully-equipped science laboratories, art and music centres, wireless connectivity in all classrooms and interactive learning resources.

This year the International School of Nanshan, Shenzhen, will celebrate the significant milestone of its 100th graduating student. ISNS wants to give back to the students and give parents and wider families the opportunity to become part of the school community. Scholarships for academics, athletics, most-improved, all-rounder, and demonstration of the IB learner profile provide the perfect chance to join ISNS and grow to be one of their successful alumni.

For more information about the scholarships visit the scholarship and bursary section of the ISNS website or call the Admissions office. Alternatively, email the ISNS Admissions team at admissions@isnsz.com.

Applications close on 31st May 2018, so get your applications in quickly for this once-in-a-lifetime opportunity.

Chinese Name: 深圳南山国际学校
Place Address: International School of Nanshan Shenzhen -11 Longyuan Road, Taoyuan Sub-District, Nanshan District, Shenzhen 518055
深圳市南山区桃源街道龙苑路11号
Place Phone: +86 (755) 26661000

Social at The St. Regis Shenzhen – World-Class View, Five-Star Cuisine

From my table on the 95th floor of the KK100, I can just about see all of Shenzhen. I understand now why people say that Social has the best dining view in the city. Yet there is plenty more to enjoy about the all-day dining restaurant at The St. Regis Shenzhen in Luohu.

That evening we had come to sample The St. Regis’ Russian Gourmet Festival. The hotel had invited three of the top chefs in Moscow to showcase the finest that Russian cuisine had to offer. Coming all the way from The St. Regis Moscow were Executive Sous Chef Alexey Smakhtalin, Junior Pastry Sous Chef Alexander Soin, and Sous Chef Dmitriy Golubev.

Together they provided Shenzhen with a unique opportunity to sample a cuisine that is rarely available in the city. From cured and pickled meats to delicate and delectable pastries, the guest chefs promised to indulge guests with their modern interpretation of Russian cuisine whilst staying loyal to the core principles of the time-honored classics.

Throughout the meal, we were treated to a sumptuous cross-section of Russian cuisine by the three chefs. No showcase of Russian cuisine could be said to be quite complete without the presence of Chicken Kiev. With tender chicken and delicate breadcrumbs, the breaded chicken fillet has rarely tasted this exquisite. Just when I thought I had sampled all that was on offer, I was presented with a Pork Stuffed Pig Bread. This playful little pastry comes in the guise of a little pig including a little snout and pair of ears. This Russian specialty is every bit delicious as it is cute.

Yet to say the evening was solely about the Russian dishes would be to do Social a great disservice. In fact, the food festival made up but a small portion of the culinary delights on offer.

While Social offers a DIY salad bar to appease even the most discerning healthy eaters, you would be forgiven to skip it altogether once you spied the sushi and sashimi on offer. Boasting the freshest cuts from the sea, it is one of the most popular food stations at Social and, having sampled the salmon and tuna, it is understandably so.

Next waiting for you is a real culinary treat in the form of Social’s renowned seafood bazaar. The station is truly a shellfish lover’s dream complete with Australian oysters on ice, steamed prawns, crab, and Alaskan king crab leg. You will find them perfectly paired with enough sauces to satisfy the most discerning of palates.

Next is a little something that I can’t say I’ve seen elsewhere in the city’s illustrious hotel restaurants. Social has a spinning Shawarma machine where you can enjoy pita wraps dripping with delicious meats and vegetable fillings. The vertical spit is a particular highlight in an already stellar buffet experience.

It’s not only the Shawarma machine that catches the eye. In the corner of the buffet, diners can find a traditional oven where Beijing Peking Duck is prepared. Cooked live in front of guests, the duck is then wrapped in a freshly steamed pancake with scallions, cucumber, and homemade Tian Mian sauce.

The Beijing Duck Rolls are just one of many authentically recreated traditional Chinese dishes. Diners can also enjoy Ma La Tang, the iconic hot pot broth. With a choice between the fiery Sichuan style and the more savory Guangdong broth, there is something for everyone’s tastes. Once you’ve chosen your soup base, you can then customize your hot pot from a choice of over 20 different meats, fish, shellfish, and vegetables.

If by some miracle you’ve managed to resist temptation and save some room for dessert, then you will be richly rewarded. Diners can choose from a selection of chocolate and cheesecakes to a wide array of flavors of Movenpick ice cream.

The choices on offer are quite simply overwhelming in the best, most mouthwatering way possible.

Yet what really makes Social stand out as a dining experience is the details. From the Beijing Duck Oven to the attentive staff there to refill your glass.From the Shawarma Stand to the charming and helpful Restaurant & Bar manager hailing from Ireland.

Social at St. Regis is a truly unmissable dining experience in Shenzhen. Come for the panoramic view. Stay for the world-class cuisine.

Buffet Lunch: Weekday: RMB418 +10% +6%, Weekend: RMB508 +10% +6%

Buffet Dinner: Weekday: RMB558 +10% +6%, Weekend: RMB628 +10% +6%

Address: 95TH Floor, The St. Regis Shenzhen, No. 5016, Shennan Road East,Luohu District, Shenzhen (深圳市罗湖区深南东路5016号深圳瑞吉酒)

Tel: +86 (755) 830 88888

7 Foreign Movies Open in Shenzhen Cinema’s in May

Are you planning to see the new foreign movie releases that open in Shenzhen Cinema’s in May ?

Shenzhen theaters often play blockbuster movies in English with Chinese subtitles and in recent years have installed some of the most sophisticated movie equipment to create 3D movie viewing experiences. Find out where to go below.

Continue reading 7 Foreign Movies Open in Shenzhen Cinema’s in May

Mr. 吾Five Bites – Don’t Judge A Hotdog Restaurant By It’s Entrance

Written by Eddy

Nothing beats a good hotdog. There are those who talk about ribeye steaks from Australia or the freshest oysters from France, but give me a New York style hotdog any day of the week over them.

The challenge in China, however, can be finding one. The photos on a menu can often be very different from what arrives on your plate and even when your order looks like what you expect it to, it can still taste like something entirely different.

I had actually passed Mr. 吾Five Bites at Coastal City a few times before I finally went in. The restaurant was busy with local customers and the hotdogs they were eating looked like the real deal, but I had been hurt before and I didn’t want to give myself false hope. I needn’t have had any doubts.

It’s clear from the restaurant that there is a deep love of hotdogs at play here, from the traditional hot dog stand to the extensive menu of different hot dogs. Mr. Five Bites is also a clear ode to the city of New York, which can be seen in the pop art wallpaper and the bright color signage. The bustling young crowd sat outside only serve to add to The Big Apple vibe. It didn’t surprise me one bit when I later discover the owner used to live in New York.

Passing an eye over the menu, however, you quickly realize this is no place merely looking to imitate the classics. There is plenty of fusion and creativity going on here. Check out Tokyo Hot, mixing sole fish tempura, wasabi mayonnaise and teriyaki sauce with a hotdog. You can also give Crawfish Dog a whirl with its spicy crawfish and scallion, or the alluringly named Miss Hong Kong, which boasts scrambled eggs, crispy bacon, and a cheeky sprinkling of corn cereal.

The tastes are always rotating and I’m told that Mr. Five Bites have showcased over 80 signature dogs over the years. This relentless reinvention can be accredited to their Food Director, Sky. Sky cut his culinary teeth as a chef on The Bund in Shanghai before later coming to Shenzhen to work at Shark. He uses his experience to cram in as much originality into each hotdog bun as he can.

Sky’s abilities, however, are not limited to just hotdogs. Mr. 吾Five Bites serves plenty of other dishes too. There is the hearty Five Bites All Day Breakfast, a selection of pastas including Spaghetti Arrabiata, and six types of French fries.

But in the end, I have to admit that I’m a sucker for a classic. Sowhen the time comes, I order the classic New York style Five Bites hotdog along with a nice, cold bottle of Corona. After my first bite and a swig of my beer, I’m in no doubt that these guys are the real deal. And it’s while I am sitting back to enjoy my snack and beverage that something catches my eye.

A waiter approaches the door to go inside the staff-only area of the restaurant. He takes a quick look around to check if anyone is looking and then enters a code into the keypad. The door opens and the waiter quickly enters before the door shuts behind. Unbeknownst to him, this eagle-eyed writer was watching. I quickly follow behind and enter the same code. The door opens…

In one moment I am sat outside at a hotdog restaurant, the next I am transported to a speakeasy bar. The lighting is dark, but a video that stretches across three walls offers enough illumination to see the lounge seating surrounding glass tables loaded with vintage whiskeys, and the long bar stocked with enough spirits to make all manner of cocktails.

The bar is lively. Young couples huddle together at the corner tables while in the middle of the bar are groups of people in suits who look like they’ve come from a business dinner.

The soundtrack for the evening is hip-hop, the West Coast variety. While the likes of Kendrick Lamar and Tyler The Creator keep the night moving along, I take up a seat at the bar. I’m greeted by the bartender, Jean, and when I ask what’s good, a mischievous smile creeps on to her face.

There are plenty of endlessly inventive cocktails including the aptly named Cloudy Day In Shenzhen, made from osmanthus-infused tequila, blue cuarcao, lemon juice, homemade raisin-nut syrup, and even some cotton candy. If you are feeling like a walk on the wild side, why not try Kiss By The Green Devil. This deceptively potent concoction mixes absinthe with lavender syrup, lemon juice, and egg white. For something a little different, there is always the Breakfast Martini, which combines bacon-infused bourbon whiskey with olive juice, white vermouth, and original bitter.

The night goes by nice and slow. Just the way it ought to. No moment outstays it’s welcome. Every conversation is savored. I enjoy some cocktails, some solid beats, and most of all, good company. Not too bad of a night considering all I came in for was a hotdog…

If you are interested to know the secret code at Mr.吾 Five Bites,  just mention Shenzhen Party for the latest password.

Meanwhile, the top 20 Wechat reposters can enjoy a special promotional voucher that gives the holder 2 free beers at Mr. 吾Five Bites only if share this post at your Wechat moment. We will also randomly pick 2 lucky winners to win a cash coupon to the value of RMB300

Scan our Wechat QR to join the contest now!

 

Average Spending per Head:

Restaurant:60rmb

Bar: 100rmb

Business Hours:10am-2am

Address: No. 288, 2/F, Coastal City, Nanshan, Shenzhen (深圳市南山区海岸城购物中心2楼天台广场288)

Tel: 0755-86559701

Additional Resources

Staying Motivated in Our International Business Endeavors

This article is originally found here: https://www.globalfromasia.com/businessendeavorsmotivation/

It happens to us all.

We hit a breaking point in our business endeavors. As a business owner, many don’t see the downs in the roller coaster ride. And often it is our emotions more than anything else.

What do we do when we hit a bit downturn in our global business?

This is a big challenge, and there are tons of answers depending on your specific situation. Today I hope to give you some tips and inspiration that have helped me in the down times.

Downtimes Can Happen in your Business Endeavors & Don’t Blame Yourself

Businesses go up and down. There are bad days where the stars weren’t aligned, potential customers were angry at the rain or snow, things happen. Try your best to remember that with good times, there will also be bad times.

Here is one of my favorite quotes for dealing with a bad day:

999 Dolly Parton Quote – to get the sunshine we need to deal with the rain.

So when you’re in a bad state of mind and business is down, remember that the bad times you get through will only make you stronger. And if every day is a good day, then by definition they would be an average day! We need to get through the bad to appreciate the good.

So, don’t be too hard on yourself. The trick is to get through the tough times, as most people fail – or choose to fail – at those times.

Don’t Freeze Up – Keep on Truckin’

There have been some days where business systems were down. In a previous SEO tool company I was a partner in, the system was down for a day! The customer service was blowing up!

Those times, especially in a small business where a lot of work is already overloading the few people in the organization, you want to just freeze up and take a walk.

But this is what separates the good from the bad. The winners from the losers. Face the problem head on. Be honest with your clients, your team, and yourself.

When I lose money in a business decision, I try to remember – this is a one time expense. You can’t predict the one time bad expenses that come up. That is part of business. But you can control that you deal with them, and that you learn from them. And you improve your business systems for the long term.

On the other hand, if this business issue keeps coming up, it is NOT a one time expense and you need to address it immediately. That is your job as a business owner – to look at the big picture, step back and see the workflow of the company, and plug holes.

Look At Your Costs, Budget For The Tough Times

We should all be budgeting. Planning our recurring costs, and looking to growth.

It is our job to leave room for errors. For unexpected mistakes. If we don’t have some kind of safety net in the form of cash, then we’re in trouble.

Bill Gates saved a ton of cash on the books. 999 He did this so that he had enough money to pay for the staff for a full year without any income. That is extremely safe. But by having this safety, it allows us to think more long term, and handle the hiccups that come in our business.

Maybe you can’t afford to have a year’s savings to cover your costs without sales, but try to give yourself a few months. That way when you have these bad days, or probably longer… you can rest a bit more at ease.

Believe me, I have been at times where I was close to running out of money every week. It is so hard to focus when that is the case. Try your best to give yourself some runway.

Be Zen – Step Back While It’s Happening & Reflect

Controlling my emotions is something I learned while doing business in China. Heck, maybe I would have learned it if I had stayed in America. But in China when I got frustrated at business, most of my Chinese associates would tell me to work on controlling my emotions.

This has been a key difference in business practice I have noticed between East and West.

Westerners, we are much more open and straightforward about our emotions.

In the East, it is about not showing your emotions. Being calm and cool on the inside.

While which one is better is up for debate, I do like the idea of reflecting on how you are feeling. Look at yourself in the third person. Be a fly on the wall in the room, looking down at yourself. Why are you feeling the way you’re feeling?

I love to take walks when I’m stressed and overwhelmed. It kind of resets my mind. While walking, I try to analyze the situation and what I am thinking. Why am I upset. If the worst outcome happens, what is the worst result?

Normally when you think in this way, you can be more confident and cool when “getting back in the action”.

Cut Back On Things – Simplify

Here is where I have been weak most of my life. I love to do so many things. I love to learn. To be involved.

But this is like being a pack rat.

And your mind gets cluttered.

You need to write down all the things you’re doing and cross some of them out. Whether this is your personal life, your education, or your professional careers.

I always think of a story back in my college days.

I was in a fraternity, well I was rushing at the time. I was the stressed out “Mikey” with my backpack full to its seams and rushing from class to meeting to class. Josh, one of the older brothers, called me into his room at the fraternity. He saw I was so overwhelmed so he asked me:

“Write down all the things you’re currently involved in”.

I wrote down tons of things, like student government, investing club, and yacht club. He looked at Yacht club and asked me “do you know how to yacht”. I said no, but I was on the boat a couple times, I was the secretary so my role was not to run the boat, but to take notes and keep the meetings in order. He laughed that I was secretary of the Yacht club and had never sailed a boat.

So after looking at the rather long list, he took a thick black magic marker and ran lines through over half of the list. I cringed when he crossed off some of them.

After he finished crossing off a lot of them, he gave me the sheet back and said.

“I want you to come back next week and report back that you have quit all the groups I have crossed off on the list. Ok?”

I was so afraid to quit something I had joined. But I followed the instructions. I went into the groups and clubs he crossed off and told them I was too busy to help anymore and had to cut back on extracurricular activities. They accepted.

Within just a couple weeks, I noticed I had more free time! I was able to de-stress a bit. And the funny thing is, I didn’t feel like I was missing out on anything.

Thanks Josh!

Hopefully you reading this can list out all the things you are doing. Ask someone like Josh to review it and cross out for ya. Or if you are mentally strong enough, cross them off yourself.

Simplify Your Multiple Corporate Structures Around the World.

Now we’re getting a bit more relevant for this Global From Asia blog! We all are so excited to have an international business. The sexiness of having companies and operations in China, America, Brazil, London.

Yes, having global corporate structures and teams around the world is sexy! So exotic. James Bond style.

But when times get tough, upping all these company structures is exhausting. Both on your time, your brain, and your wallet.

I have had to bite the bullet a few times and close some companies within a year or two of setting them up. A UK company was one of them. It took us about four months to get it setup, between the company and the bank account. Mailing documents over the Atlantic Ocean a few times.

But we weren’t really leveraging it enough. A eBay account and warehouse weren’t enough reasons to justify the costs to maintain it all.

We went through the process of closing the operation down. Think some of the stock is still in a buddy’s garage in Ireland (this event happened back in 2008!). Or maybe I told him to give away some of those home bar goods as Christmas grab bags at his company.

It was a tough thing to go through. But once things happened and it was “back to being simple” the business went a lot smoother.

Like many things in life, simple is usually better.

Therefore, when business gets overwhelming – write down – or re-write from scratch – your business processes.

Keep Your Eye On The Ball

So many distractions in our life and our business. Ironically, just as I was writing the last paragraph my wife came in making a lot of noise and totally got me off point.

The trick is to keep your “eye on the ball”, or think about the goal. I have been writing more and more, and now I am documenting how many words I write, at which time, and what makes me more effective. I have found that writing blog posts like today’s helps reach people, help many people out, and also get new clients.

What is helping you get things done? I am quite sure there are a lot of things that get in the way.

Normally it should be about getting sales and additional revenue to your business. Making more money is always a good goal for any capitalist. So write down those activities that get to that goal.

Too many ways to make money, that means too many channels. Pick the ones that have the most ROI – return on investment – meaning either in your time or your money put in, the most benefit comes back.

Focus On The Business – Not Complete Business Structures

So many people talk to me about having an offshore company here, and a operating company there. All too often, they are talking to me about this when they are pre-revenue.

So, they are making things complicated before they even have any money coming in!

Did Google and Apple worry about their offshore structures when starting out? They never worried about it, as once they got big enough they hired smart MBAs and CPAs to take care of all that.

Stick to your core business – making sales of the product or service you are offering. And get to the point where you can hire an expert to take care of all the global corporate structure formations later on, when you’re on your yacht in Tahiti.

Think Long Term Over Short Term

You’re a business owner, and most likely, you’re a major shareholder as well as a major director of the company at the same time. That means you will get the biggest payoff later on.

The beginning is always the hardest. You need to outlast all the competition. You need to fight when everyone else is crying mercy.

Losing money in the short term may be hard, and sleeping on a folding cot in your office is not comfortable, but you’re a warrior. These sacrifices now will pile up and become an unstoppable machine in the market to take over your industry.

You may get in situations with staff where you need to pay out some damages due to cost cutting. You may have a bad client that doesn’t pay a big bill. You may get a lawsuit from a competitor.

These times suck for an entrepreneur and business owner. The world feels like it is upside down. I’ve been there, and you’ve probably been there too.

For me, the best way to get through it is to think long term. That these are one time events, that I can get past, learn from, and prevent in the future. It toughens you up, and you just got to get through them to enjoy the long term benefits of business ownership.

If you’re always stuck in the day to day of your operations, it will be hard to think long term and some of these events feel like the end of the world. Its tough, but we need to step back, look at our business as a whole, and make it happen. If it was easy everyone would do it. Its these tough times that define the winners from the losers. And if you can stick to your guns and get through this, you’ll be better in the long term.

How About You, What Are Your Tips?

I’d love to hear your tips for getting through those tough business days. Especially for those running a global business, trying to keep things in order can feel like plugging holes. A lot of these things haven’t been put in the text books, and that is what gives us the opportunity to get ahead in business and in life.

So I hope you enjoyed this guide. I’d appreciate you leaving a comment below with your feedback and ideas. Let’s make this a source where people can come to when they are overwhelmed in their international business endeavors!