Expat Hong Kong News

Latest 10 news items tagged Hong Kong

9 Nov at 6 PM 2017

British expats in Spain lose €20 million after IFA firm collapses

The British boss of a failed pension advisory company has fled to Australia after losing his British expat clients some €20 million by the use of an all too familiar scam format. The 300 Brits who’d invested with Alicante-based Continental Wealth Management are mostly expats living in the popular Spanish resort of Alicante, and are now struggling to retrieve their lost money after the IFA firm closed its doors in September and its CEO Darren Kirby left for Australia with his ill-gotten gains. Those affected, spread across Spain...
7 Nov at 6 PM 2017

Survey rates Singapore as most expensive expat relocation

A new survey by the Economic Intelligence Unit has placed Singapore as the world’s most expensive city for the fourth year running. Expatriates already living in the pristine city state will be well aware of the ever-rising costs of an acceptable lifestyle. The survey results, released last Monday, clarified the reasons for the ranking, but also pointed out that it offers ‘relative value’ in several categories when compared with certain other countries in the same region. Asian cities seem to be taking over the ‘most expensive...
31 Oct at 6 PM 2017

Expats in Saudi gobsmacked at granting of citizenship to female robot

An attractive female star attending Saudi Arabia’s recent Future Investment Initiative programme was interviewed and questioned about her lifestyle and wishes for her future. The young lady said she wanted to help humanity and was subsequently granted Saudi Arabian citizenship, an unusual move by the Saudi authorities. Exactly how unusual was soon made clear to an international audience via the media – the female star is a humanoid, talking robot. Long-term expats’ eyebrows hit their hairlines when they heard the news, as...
20 Oct at 6 PM 2017

State pensions not enough for comfortable expat retirement

New research reveals state pensions worldwide don’t provide enough for a comfortable retirement in any country. A study by the Swiss bank UBS has made it crystal clear that relying on a state pension anywhere in the world makes no sense, as all pay the minimum amount necessary to cover basic expenses. The bank’s research identified a pension gap in all major world countries’ state pensions large enough to make even the necessities of life difficult to cover. The widest gap is found in Hong Kong, one of the world’s most...
19 Oct at 6 PM 2017

Decline in disposable incomes causing expat concern

Relocation is often seen as the answer to stagnant wages and stalled career opportunities, but expat professionals nowadays are often struggling to make ends meet. For several decades, accepting relocation overseas was synonymous with a vast increase in salary, a luxury lifestyle and a boost in career prospects. Nowadays, worldwide economic instability and fewer opportunities in desirable locations are causing concerns about diminishing salaries, fewer benefits and the rising costs of living in the majority of expat hubs. Expat...
19 Sep at 6 PM 2017

New survey for compensation packages based on price of one beer

A new approach to cost of living surveys, calculated on the price of a beer, gives more accurate results than traditional studies. It goes without saying that surveys can be very useful for expats looking for new assignments or pensioners looking for an exotic retirement, but a new, simpler approach is likely to prove very popular as a reference. Similar to the Economist’s ‘Big Mac’ survey, which based the purchasing power of top currencies on the cost of a hamburger, Sovereign’s new survey kid on the block is basing itself on...
18 Aug at 6 PM 2017

Surge in young professionals looking to emigrate

Relocation companies are seeing a surge in the numbers of younger professionals looking to leave their countries of birth. For several decades, demographics related to expats have shown older professionals and retirees as the two main groups looking to emigrate, but a recent survey seems to have overturned the balance. The study, undertaken by a leading relocation company, indicates it’s those between the ages of 18 and 35 years who are desperate to try a new life overseas. Inquiries by young creatives and other professionals have...
10 Aug at 6 PM 2017

Stay or Go is UK retiree dilemma

EU member states and Spain in particular are still on the retirement agenda for UK would-be expats. Britons coming up on retirement are still favouring European destinations in spite of the uncertainty surrounding the final outcome of the Brexit negotiations. A recent survey has revealed one in every 10 UK citizens over 50 years of age is still considering retiring abroad, with Spain topping the favourites list again. As usual, reasons for leaving include the British weather, a more relaxed lifestyle and cheaper costs of living....
9 Aug at 6 PM 2017

Buy to let loans even more popular with UK expat investors

Following on from last year’s considerable increase in expat applications for buy to let mortgages, 2017’s total to date is even higher. Over £500 millions’ worth of enquiries for UK buy-to-let mortgages have been made to one lender since the beginning of this year. The amount represents a 130 per cent increase on the same period in 2016, with 25 per cent of enquiries coming from UK expats working in high-salaried locations. Brits in the UAE accounted for a quarter of the total, with 12.5 per cent from the USA, Hong Kong at nine...
26 Jul at 6 PM 2017

New QROPS rulings unlikely to deter many pension savers

Many expats and would-be expats are now worried that QROPS as an efficient, tax-friendly investment option may soon be dead in the water due to recent changes. QROPs experts are rushing to clarify the recent changes to QROPS rules by Britain’s HM Revenue and Customs in order to reassure investors looking to take advantage of the best way to deal with their pension pots. Several recent reports seem to indicate the popular product is stuttering, but the reality is that around one thousand offshore pensions are still available in 29...