Russia Trade Contract with Hong Kong Online — Import & Export of Goods

Hong Kong is one of the largest free trade zones in the world. Import customs duties are virtually nonexistent. This makes it a key transit hub for trade with Asia.

Free trade · zero tariffs

HKD pegged to USD

The Hong Kong dollar is tightly pegged to the USD within a range of 7.75–7.85 HKD/USD (Currency Board). Exchange rate risk is minimal. Settlements in HKD or USD — at the parties' choice.

HKD/USD · fixed rate

English law and CISG

Hong Kong applies the United Nations Convention on Contracts for the International Sale of Goods (CISG). HKIAC (Hong Kong International Arbitration Centre) arbitration is among the best in Asia.

CISG · HKIAC arbitration

Transit to China

Many Russian companies use Hong Kong as a transit jurisdiction for supplies to mainland China. Confirm the final destination and customs clearance procedure with the buyer.

Transit · re-export to China

FAQ

Questions about trade contracts with Hong Kong

Answers to the most common questions

Yes. Hong Kong applies CISG as part of a legal system based on English common law and international conventions.

Request the CR Number (Company Registry Number). Verify through the Hong Kong Companies Registry: icris.cr.gov.hk. You can check the company's status and directors free of charge.

HKD or USD. The Hong Kong dollar is pegged to the USD within a range of 7.75–7.85. Both options are practically equivalent in terms of exchange rate risk.

Hong Kong is traditionally used as a transit jurisdiction. The Hong Kong company purchases from the Russian supplier and resells into China. The contract with the Hong Kong party is drawn up in the standard way.

Yes. An export declaration (ED) in Russia is mandatory. Hong Kong has no customs duties, but a Trade Declaration is required to record the volume of trade.

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Russia Trade Contract with Hong Kong: Key Features

Hong Kong is one of the world's largest financial and trading centers. The Special Administrative Region of China retains its own legal system, based on English law, and serves as a gateway to mainland China.

Hong Kong company details

In the contract, specify the Company Registration Number (CR), the full name in English, and the registered address. Verification is available through icris.cr.gov.hk — a free online registry with data on directors and shareholders.

Currency and settlements

HKD is pegged to the USD through a Currency Board (7.75–7.85 HKD/USD). SWIFT settlements via Hong Kong banks work reliably; the main banks are HSBC, Standard Chartered, and Bank of China (HK).

CISG and HKIAC arbitration

Hong Kong applies CISG. For dispute resolution, HKIAC (Hong Kong International Arbitration Centre) is recommended — one of the leading arbitration centers in Asia, with award enforcement in 170+ countries.

Transit potential

Hong Kong is a popular transit jurisdiction for Russia-China trade. Its free trade zone with zero tariffs allows it to be used as an intermediary for supplies to Asia.

Russia Trade Contract with Hong Kong

Which contract fits working with Hong Kong

Import of goods from Hong Kong

Export of goods to Hong Kong

Import of services from Hong Kong

Export of services to Hong Kong

Trade specifics with Hong Kong

Free port — zero tariffs