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Living & TaxIt makes sense to find a career that will help you thrive in one of the world’s most vibrant cities. Thankfully, Hong Kong companies are likely to pay top dollar for great talents, be they local or foreign.
A guide to the simple tax system for people coming to work and live in Hong Kong.
It makes sense to find a career that will help you thrive in one of the world’s most vibrant cities. Thankfully, Hong Kong companies are likely to pay top dollar for great talents, be they local or foreign.
If you’re looking for a place where you and your family can experience a good lifestyle and enjoy a high disposable income under low tax rates, Hong Kong certainly delivers.
Whether you want to live in a penthouse with commanding views over Victoria Harbour or prefer the peace of an outlying island like Discovery Bay or Lamma, there are plenty of options for expats relocating to Hong Kong. Those relocating on their own may consider livelier neighbourhoods like Mid-Levels and Wanchai, while families may prefer quieter communities like Sai Kung or Lantau Island.
Another good reason to move to Hong Kong is that it’s home to one of the lowest tax rates in the world. The territory's tax structure is straightforward and uncomplicated, with a progress rate starting at 2% and ending at 17% on net income after deducting the basic allowance of HK$132,000, or at a standard rate of 15% on net income, whichever is lower. You’ll also receive additional tax allowances if you’re married, have children, or are a single parent, and only income earned in Hong Kong is taxable in
To enjoy your time in Hong Kong, embrace the spirit of Hongkongers: work hard and play harder. Many locals work late and love to drink until even later, and there are several districts worth checking out for beers, cocktails, and good times.
It takes a lot to move abroad, but costs considerably less to live in Hong Kong if you are prepared. To address the elephant in the room: housing will probably take a big bite out of your pie, but it’s not as bad as you might think. The cost of living here, all things considered, is very affordable considering it’s a global financial centre.
Housing probably induces the biggest headache in the process of relocation, so we've put together a few house hunting tips to help ease your pain.
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