Expat Hong Kong News

Latest 10 news items tagged Hong Kong

24 Aug at 6 PM 2016

Uncovered data reveals top world locations for financial scams

As the UK’s Financial Conduct Agency continues to warn retirees of pension transfer frauds, recently uncovered data reveals the worst world-wide locations for expat financial scams. The data shows UK retiree pension savers are now at even more risk of being scammed out of their savings by unscrupulous, often illegally working financial advised lurking in favourite expat destinations. Global scams are now big business for fraudsters, egged on by pension liberation and even by Brexit’s predicted financial uncertainties. One...
23 Aug at 6 PM 2016

Expat private healthcare costs soaring beyond affordable levels

Insurers offering private healthcare policies are sitting pretty as regards revenue, whilst expats living overseas are struggling to find funds for the swingeing annual increases imposed. As with just about everything else in the 21st century, the cost of private healthcare has more to do with profits than with service. Providing a safety net for unexpected illnesses or accidents is especially important for expats, many of whom are retired and don’t have a relocation package covering the ever-rising costs of private heathcare....
17 Aug at 6 PM 2016

Hong Kong expat exodus led by Americans and Brits

Hong Kong Immigration Department figures suggest the numbers of British, American and Australian expats has fallen considerably since the beginning of 2015. During the last six months, the total number of British expats living and working in Hong Kong has fallen by just over 10 per cent, together with eight per cent of US expats and five per cent of Australians packing up and moving on. The majority aren’t heading back to their home countries, but are relocating to North America, Africa and Singapore. In addition, numbers of...
15 Aug at 6 PM 2016

Hong Kong expats choosing less expensive districts as packages cuts bite

Hong Kong is still an expat professional favourite but, as relocation packages and salaries shrink, new arrivals are choosing to live in less expensive districts. The trend away from former traditionally popular locations such as the Peak and Mid-Levels began after the 2011 financial crisis and is now a full-blown movement. Newly popular areas include Chai Wan, Austin, Olympic, North Point and Sai Wan Ho, with the more adventurous even venturing into New Territories East. A recent survey revealed Hong Kong is still the world’s...
3 Aug at 6 PM 2016

Oz expats returning home face property purchase problems

Post-Brexit blues and other European negatives are encouraging Aussie expats to go home, but increased property purchase red tape is blighting many plans. Traditionally, Australian expats working for companies in the UK and Europe are most likely to return home permanently during the last quarter of the year. Upheaval in the UK, Turkey’s instability and terrorist attacks in France have all combined to make thoughts of home irresistible, but Australian property enquiries have declined rather than accelerated. Brokers working for...
3 Aug at 6 PM 2016

Survey reveals cost of expat packages to employers

A recent survey taking in the 40 top financial hubs across the world has revealed the UK is the most expensive relocation destination for employers. The survey, carried out by ECA International, shows the UK as top of the most expensive cities list for the second year running. For example, the cost of a salary and relocation package at middle manager level comes out at $390,000 annually. Japan is the runner up at $328,000, a drop from last year’s totals due to the weakening yen. Factors taken into account included salaries, taxes,...
26 Jul at 6 PM 2016

Best locations for expats from entrepreneurs to retirees

A new survey has identified the best places for expats dependent on their reasons for emigrating. Expats leave their home countries for a variety of reasons, including the need to take their careers further, the wish to unleash their entrepreneurial spirit or a wish to find the most suitable place to retire. The one thing they all have in common is that they feel stuck and unfulfilled in their present situations, but finding the best place settle can be a challenge, even in these technological days. The survey analysed no fewer...
15 Jul at 6 PM 2016

UK insurers pull out of expat health and life insurance

A recently-released survey of UK insurance companies has revealed that only 16 per cent now offer expat life insurance and only 8 per cent offer critical illness cover. The annual Expatriate Insurance Survey’s results make it plain that high-street insurers such as Friends Life, Aviva and Legal and General now have no interest in servicing expat life and health insurance needs. According to authors of the survey, Unusual Risks, there are a number of British expats’ groups with UK property, tax interests or outstanding mortgages...
13 Jul at 6 PM 2016

Top six Chinese cities for expats

For the new breed of adventurous expats, China is the latest attraction, but its massive size and choice of major cities can be hard to navigate. If you’re looking for a fascinating combination of ancient culture, magnificent geographical diversity, stunning modernity and a unique, challenging environment, China is waiting for you. Six of the country’s major cities stand out as a starting point for the expat experience of a lifetime, with your choice based on your personal needs and preferences. The massive, teeming capital of...
8 Jul at 6 PM 2016

Expat salaries and packages in Asia declining in value

Once the darling of expat professionals, Asia is losing its shine as the value of Singapore and Hong Kong rewards decline. The latest survey of expat salaries worldwide has revealed that, although Hong Kong is still top of the tree for expats wanting to advance their careers, Singapore wins out as regards lifestyle. Middle management positions in Hong Kong command pay packages of around HK$2,070,000, a drop in real terms from 2015 even although the city’s ranking moved up from 5th to 4th. The reason for the decline in monetary...