She was born in Hong Kong and started her career in participating in the Miss Asia beauty pageant and received the 2nd runner-up award. Her career breakthrough was when she starred in adult films which previously were considered taboo for mainstream actresses in the Hong Kong market. Veronica Yip has starred in a total of three of these Category III films: Take Me (1991), Pretty Woman (1992) and Hidden Desire (1992). All three films were regarded as commercial successes and paved the way for mainstream actresses, such as Loletta Lee and Irene Wan to act in such films.
Aside from these films, Veronica Yip has also starred in many films critically acclaimed Chinese movies, including Jeffrey Lau's The Eagle Shooting Heroes and Stanley Kwan's Red Rose, White Rose (1994). Yips ability to escape the soft porn market paving the way for actresses such as Shu Qi and Pauline Chan to do the same.
Veronica Yip also hads a brief signing career when she joined her brother's Fitto Entertainment, which was the former Emperor Entertainment Group.
In 1998, Veronica invested a large sum in her brother's project of building a Disney Land in Hong Kong. However, the project was scrapped along with the budget causing a fallout between the two. Veronica and her brother later reconciled.
Veronica Yip met her current husband, Chinese businessman Jeffrey Wu, through his nephew playing Yip's son in her movie "Moonlight Sonata." After marrying Wu, Yip retired from entertainment and immigrated to New York City where Wu runs the Hong Kong Supermarket supermarket chain business. The couple have a daughter and two sons. They currently reside in Long Island.
