In recent years, overseas weddings which include a wedding ceremony and a honeymoon trip become more and more popular. But wait a moment, what we want to talk about is a wedding trip for a prospective couple only. If they have to invite friends and relatives to attend an overseas wedding ceremony, the expenses involved would be multiplied.

Price comparisons of different wedding trip packages

Let’s get back to the subject. Okinawa, Bali, Guam, the Maldives, etc. are all common wedding trip destinations. Many wedding planners or travel agencies offer packages with different price ranges depending on the destination, facilities, etc. Wedding trip packages usually include hotel accommodation for 2, a wedding venue with basic decoration, a wedding host and photography, while air tickets depend on package terms. The complimentary shuttle bus service, champagne toast etc. are usually for the prospective couples only, with extra charges levied on relatives and friends.

Note: The above information is for reference only.

Overseas wedding trips usually involve arrangements for air tickets and hotel accommodation. Wedding planner with travel license can provide one-stop service for air ticket and hotel booking, so the prospective couple do not need to approach travel agency separately.

Check whether marriage registration is valid

Overseas marriage registration can be either symbolic or legally valid. The former is of course not legally binding, which means the couples have to make registration after returning to Hong Kong. In general, if the marriage registration is in accordance with local laws, it would be legally recognized in Hong Kong. However, the couples should also update their marriage status with the Immigration Department after returning to Hong Kong. Some countries or territories will handle legal registration for eligible couples only. For instance, in the Maldives, only nationals can be legally registered for marriage. Thus, wedding ceremonies of Hong Kong people in the Maldives are symbolic only.

Marriage registration procedures can be complicated or simple

Many countries require submission of lots of documents for legal registration. Other than the general identification documents, “certificates of absence of marriage record” as a proof of single and a translated copy or endorsement from the High Court or the consulate are also needed. This will take lots of time and effort and if you get help from wedding planner, there would be an extra charge of HK$3,000 or more. In countries where procedures are comparatively simpler, as in Guam, prospective couples only have to bring along English/ bilingual copies of their passports and birth certificates to local notaries for verification and submit application forms to relevant departments. Then, they can look for marriage witness recognized by the government, such as eligible pastor, to witness the ceremony and sign the marriage certificate. Finally handing over the certificate to the government for filing, then an official and legal registration is complete. But if the procedures are too complicated, why not do the registration in Hong Kong before going for a wedding trip? In this way, you can have both a legal marriage and a romantic wedding of your dream!

You may not want to delay your wedding due to insufficient fund, or your original plan of “wedding trip” may turn into an “overseas wedding ceremony” which make you over budget. Well, HSBC’s Personal Instalment Loan offers a repayment period of up to 60 months. All you need to do is choosing a loan amount that can provide the required funds for your wedding and suit your repayment ability. The approval time can be as fast as one minute if you have payroll accounts or income proof at HSBC^*.

* The actual loan application approval date starts when the Bank has successfully input all the required information into the application evaluation system. Processing time may vary for some individual applications.

To find out more about personal loans, feel free to call us on 2748 8080, or apply online now.

Apply Now

To borrow or not to borrow? Borrow only if you can repay!

Close

When your career reaches a bottleneck, with unclear prospects, those who have lots of great plans might consider a start up. However, being a boss is completely different from being an employee. You must have detailed planning to start with and then implement your plan step by step in order to achieve a successful business.

Self-questioning for a clear direction

Starting a business is not child’s play. You must ask yourself some serious questions before you take the leap. Is it just because you are stuck in your present job that makes you want to jump? How much do you know about the industry you plan to enter? Is your cash flow enough to support business operations in the early stages? Are you willing to work around the clock at maximum effort? Is your character suitable for starting a business or being your own boss? Do you plan sole-ownership or to establish a partnership with friends? Are you open for different opinions? All in all, you must understand clearly how much you are willing to sacrifice in order to start a business!

Assessing the business nature through market research

You may have a “mighty plan” but maybe others do too! Therefore, market research is a must. Firstly, research whether there are similar competitors already in the market. If the answer is “yes”, what exactly are their businesses and how do they operate? What are your advantages and disadvantages? If there are no competitors, think deeply why no competitors exist? In fact, does a potential market exist? Is the target customer group not large enough? Is the expected net profit not enough to maintain operations?

Assessing viability through budgeting

Capital is crucial for starting a business. For small businesses, expenditure should be closely monitored because every dollar counts. Budgeting starts with cost and required cash flow calculation, including stock ordering and monthly operating expenses (inventory, rent, wages, overhead costs, etc.). By comparing the investment with the expected return, payback period, credit, liabilities, etc, you can assess the viability of starting the business.

Take establishing a start-up company as an example. Monthly rent for a private office at co-working space can range from HK$5,000 to HK$15,000, depending on the size of the office and the location. If a junior staff is required, monthly salary is likely to be around HK$12,000. Together with rent, computer equipment, stationery and other miscellaneous costs, the running costs may be around HK$280,000 per year. In addition, the costs of inventory, advertising and promotions constitute other huge expenses, so total minimum costs between HK$500,000 and HK$600,000 for the 1st year can be very common.

What is the perfect age for starting a business?

There are many start-up companies with young people as partners whilst there also many people who start their own businesses about the age of 40. So, what is the perfect age for starting a business? Well, there is no absolute answer. Young people are enthusiastic and energetic. Veterans of the workplace are experienced, mature and prudent. These all are necessary requirements for starting a business. For most people, the prime time of life is around the age of 35 and this can be the golden period for starting a business because they are still full of energy and have accumulated considerable experience, capital and business contacts, which are beneficial to business management and development.

Striving for capital instead of waiting for the “money”

People may think of venture loans. However, this kind of loan scheme usually involve complicated application procedures and longer approval times. As an alternative, applying for a personal loan from a bank can be an option. Take HSBC’s Personal Instalment Loan as an example. The approval time can be short for applicants who have payroll accounts or income proof records at HSBC. Such loans offer a maximum 60-month repayment period. In case you need more funds afterward, simply redraw the repaid loan any time, with no need to apply for a new loan again—very handy cash flow for sure!

So, do you want to start your own business now? If so, please make an enquiry to HSBC.

To find out more about personal loans, feel free to call us on 2748 8080, or apply online now.

Apply Now

To borrow or not to borrow? Borrow only if you can repay!

Close

The saying goes that “those without dreams are the walking dead”. For instance, owning their favorite two-wheel chariots may be one of a man’s dreams. In fact, being a motorcycle rider is not exclusive to men, more and more ladies want to fulfil their passion for motorcycling. However, street cycles, sport bikes or cruiser are too masculine, to the extent that ladies may not like them for fear of losing control. Well, scooters are relatively lightweight and have a lower centre of gravity, which make them less likely to roll over. With its more gender-neutral look and, say, a pink body, it is so cute and certainly a perfect match for lady riders!

Passing a driving test first

Novice riders have to pass a written test first and attend a compulsory course to gain basic knowledge and skills for riding a motorcycle. After passing the compulsory competence test, new riders can apply for a learner’s driving licence (learner’s licence, HK$548) and attend the road test course. Subsequent to passing the driving test, riders can apply for a probationary driving licence, the “P plate”. A full driving licence will then be issued if the rider has not violated any laws during year one.

In general, driving courses for new motorcycle riders cost around HK$3,700 to HK$6,000. When enrolling for driving courses, pay attention to whether tuition fees include motorcycle rental for the driving test and the fee for the driving test (road fee, HK$510).

Selling price depends on engine capacity

A scooter costs around HK$20,000 to HK$60,000. Basically, the higher the engine capacity, the higher the selling price. Take the traditional brand (with “V” as the initial) as an example. A 280cc model made in 2017 costs about HK$44,000 and a 150cc model costs about HK$33,000. Moreover, owners have to pay a vehicle licence fee of HK$1,314 per year.

Be smart and protect yourself with a helmet

Common helmet styles include half helmet (lightweight and more ventilated but less protective), full face helmet (more protective but less ventilated) and modular helmet (goggles and chin bar can be flipped open but may be heavier), with prices ranging from HK$1,000 to HK$4,000, depending on materials and brand. When shopping for helmets, look not only for beautiful colours and patterns, but also make sure that the helmets meet the safety standards stipulated by government regulations.

Higher insurance premiums for newbie riders

With less driving experience and weaker ability to deal with the unexpected, beginner riders are more prone to accidents and hence new to pay higher third-party liability insurance premiums, ranging from HK$2,000 to HK$4,000 per year. If no claims made during the policy period, insurers will provide a no-claim discount (NCD) the following year, which is incremental annually.

So, you really want to buy scooter but don’t have extra cash flow. HSBC’s Revolving Credit Facility provides one-minute approval with interests calculated according to the amount and number of days used only. If one day your scooter requires repairing, simply withdraw the repaid amount to resolve such unexpected cash needs.

To find out more about personal loans, feel free to call us on 2748 8080, or apply online now.

Apply Now

To borrow or not to borrow? Borrow only if you can repay!

Close