Expat Hong Kong News

Latest 10 news items tagged Hong Kong

1 Nov at 6 PM 2018

UAE expats warm towards property ownership

Expats now resident in the UAE are beginning to like the idea of property ownership. A report from the online real estate portal Property Finder revealed the result of a recent survey, with 50 per cent of respondents who’d purchased homes over the previous six months now believing owning is better than renting. A further 33 per cent said now seemed to be a good time to buy. Those who’d purchased homes did so for financial reasons, as they were planning to stay in the UAE for at least three years or more and didn’t want to pay...
17 Oct at 6 PM 2018

Last South African QROPS removed from list by HMRC

The latest HMRC list has confirmed the removal of South Africa’s last QROPS. The list, published October 15, conforms the removal of the ABSA Group Pension Fund, with neither the group nor HMRC commenting on the removal to date. Normally, QROPS deletions take place for one of three reasons – either HMRC is investigating the scheme’s tax or administrative status, the last members has either transferred out or drawn down or the provider itself has closed down. South Africa has been a registered QROPS participant ever since the...
12 Oct at 6 PM 2018

HSBC survey rates Thailand lower than in 2017 rankings

A recently published HSBC survey ranks Thailand six points lower than in last year’s listings. Once one of the most popular destinations for expat retirees, Thailand has slipped still further in the results of the latest Expat Explorer survey, losing six points from last year’s results and finishing 21st out of the 31 countries whose rankings were released earlier this week. Expats rated property and general health highly, with disposable income also scoring well, but the final result was affected by low scores in a number of...
3 Oct at 6 PM 2018

Expat houseboat owners in Discovery Bay given three months notice

Enterprising expat professionals who’ve found a way to minimise their rental costs in Hong Kong are now being evicted. The marina in Hong Kong’s Discovery Bay is packed out with houseboats, many of which are owned by members of the city’s expat community. Around 180 families live on the water, saving money on Hong Kong’s sky-high rental charges and enjoying a unique way of life. Sadly, it’ll be over soon, as all have received totally unexpected eviction notices, informing them the Discovery Bay Marina Club will be closed...
14 Sep at 6 PM 2018

China opens up Chinese stock trading to expats

China is to allow expats to trade in Chinese stocks from Saturday 15th, but it seems very few are in a rush to buy. From Saturday, most expats living and working across China will be permitted to open brokerage accounts for trades in yuan-denominated A shares, but many are in wait-and-see mode, quoting China’s reputation of rushing in where only fools dare to tread. One expatriate pointed out the volatility of the market, adding there will be mistakes needing to be corrected by brokerages and regulators before he’ll take the...
1 Aug at 6 PM 2018

Is offshore banking the best expat strategy

In spite of rumours about tax avoidance, offshore banking gives a number of advantages for expat professionals. The vast majority of expat professionals working overseas are paid in their local currency, with many having financial liabilities such as mortgages in the home country. Most are planning to either move elsewhere for work or retirement or even return home at some stage in their professional lives. For those concerned about banking security and ease of transferring money in various currencies, offshore banks are the sensible...
9 Jul at 6 PM 2018

Expat investors discover Brisbane real estate

Following a tough time in the sector, Brisbane’s real estate market is surging due to demand from expat investors. Over the past year, the Queensland capital has recorded a significant increase in the number of expat property purchasers attracted by bargain prices. Demand has risen by 6.7 per cent over the past 12 months, with real estate agencies reporting the vast majority of purchasers were expatriates. Houses in the upscale districts of Paddington, Indooroopilly and East Brisbane proved the most popular, with those looking for...
6 Jul at 6 PM 2018

Landmark ruling on same sex marriage visas gives Hong Kong an edge

A recent landmark ruling by a Hong Kong court over granting visas to same sex spouses of gay expats is threatening global financial hubs’ search for talent. In this competitive world, international financial hubs are at war over grabbing the best and brightest expat talent, but many Asian countries are lagging behind in their acceptance of gay relationships and marriages, forcing LBGT professionals to find work elsewhere. In Asia, only Taiwan is beginning to recognise gay marriage as a fact of life, making the Hong Kong court’s...
27 Jun at 4 PM 2018

Asian cities now most expensive for expats

Given the latest survey on costs of living in popular expat professional hubs, those looking to relocate to Asian cities might do well to renegotiate their salaries. The recent Mercer survey identified Hong Kong as, again, the world’s most expensive city for expat life, with Tokyo, Singapore and Seoul not far behind. The Hong Kong result isn’t much of a surprise, considering that a parking space can set you back some $760,000, and the average expat professional aiming for Asia wouldn't be much better off in Shanghai or Beijing....
8 Jun at 6 PM 2018

Shanghai international school rates soaring through the roof

The latest survey from the International Schools Database has again ranked the cost of an international school education in Shanghai as the most expensive in the world. For new expats in Shanghai as well as their employers who’re fronting the cost, finding the right international school can be a challenge as there’s not much in the way of more affordable alternatives. Average monthly tuition fees for a six-year old run at an eye-watering RMB17,586, with charges in Beijing not much lower at RMB16,145. In comparison, the cost of...