We have prepared a list of frequently asked questions from past applicants. For further questions please feel free to contact us!
How much money will I need to bring with me to China for setup costs?
We recommend that you bring 3,000 USD to ensure a smooth transition. This money will be used to pay for expenses such as household supplies and personal items. For a limited time, Megabrain will offer a $600 USD travel signing bonus to successful candidates. Please be prepared to bring the majority of the advised funds with you. Successful candidates may be offered some financial assistance (up to 2,000 USD) in the form of a short-term loan with an interest of 6% per year on the principle amount borrowed. Your loan will be deposited into your bank account when it is opened, so please do not plan on using this money for at least two to three weeks after you arrive.
How should I bring my money to China?
You will need to have approximately 3,000 USD available to you in accessible cash upon arrival if you are recruited from outside China. The reason for this is to keep in line with the information related to the salary payment schedule and the costs associated with setting up your apartment.
It is important that your money is available to you in accessible cash. This can be in the form of cash, traveler's checks, or on a Visa Debit Card. You are strongly advised not to have your money on a credit card. Visa Debit Cards are usable in ATM machines at most shopping malls and Convenience stores but you may be limited in how much cash you can withdraw. Be sure to let your bank know your travel plans and ensure your card is usable. Many ATMs do not accept MasterCard, Maestro, or Cirrus branded cards.
More details will be provided during the placement process. No matter how you bring your money to China, be sure to bring your funds in major, easily convertible currencies such as Chinese Yen, US Dollars, Euros.
Do I need to pay taxes while living and working in China?
The simple answer is yes. In China, the main types of tax you will have to pay are income tax. A 17% VAT tax is charged on all purchases, although this is usually included in the price shown.
Income tax in China is determined by your status of residence, source of income, and total taxable income earned. It will be automatically deducted from your salary on the basis of expected earnings.
If you are employed by a company, you will be required to pay income tax. You should pay tax to the municipality in which you were living in on the 1st of January.
For information regarding tax responsibilities in your home country while you are living and working in China, please contact the relevant tax authorities.
Are advancement opportunities available within the company?
Advancement opportunities are available from time to time. These positions will come with a suitable remuneration. You are advised to explore these opportunities.