So you can only have 1 hq, what happeneds to the men when you move the hq? Do they just turn into the abiss?

Yes, it becomes a normal area.But, all men in defense over 200 (normal area's maximum) are transferred to the new HQ

For all new people this has been updatedYou can now have multiple HQs. You can set one up every 5 days.The value is now x 10 not x 5.Chief and deputy can set the HQ. But there is only one every 5 days per gang... not one per deputy/chief every 5 days.And its on a first come first served basis. The number of defense on a HQ has been increased to 2,000 men.Destroying an HQ gives full cash to all attacking members.Turning an area into a HQ puts 500 henchmen on it automatically.Nicorr am I missing anything?

Thanks

How do you go about setting up a second Hq?

You need to wait 5 days and then it should give you the option to either add defense or Turn into HQ. You can have as many HQs as you want but if you are in a large scale gang then you might have to wait in line if other players are in need of HQ.