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Hong Kong, More Affordable for Expats than Singapore

Written by: Editor

Hong-Kong- More-Affordable-for-Expats-than-Singapore.jpgHong Kong and Singapore are both in the top choices of cities for expats. They are dynamic and competitive cities that combine both the Asian and the Western cultures. This makes them a top choice for both foreign investors and for expats who want to relocate here. According to a cost of living survey ordered by the Economist Intelligence Unit, Hong Kong and Singapore are included in the top ten cities for expats with a high cost of living. However, Hong Kong remains the more affordable option for expats who want to relocate in the Asia-Pacific region. 
 

The list of expensive cities for expats

 
The Economist Intelligence Unit Worldwide Cost of Living Survey is a comprehensive list of the cities that are most expensive for expats. Asian cities remain in this survey’s top ten, with Hong Kong and Singapore included. 
 
Singapore is the most expensive city for expats according to the Economist Intelligence Unit, followed by Hong Kong and Zurich. Other Asian cities like Tokyo, Osaka or Seoul are included. New York and Copenhagen also make the list.
 
The costs of living and those needed to open a Hong Kong company can be an important criterion for foreign investors in Asia. One of our Hong Kong company formation agents can help you with detailed information about the start-up costs in the city.
 

An expat’s life in Hong Kong

 
Many expats find that living in Hong Kong is easy because of the bilingual system: both Chinese and English and recognized languages and most business people will speak good English. Hong Kong has a very good infrastructure and many will prefer going without a car. These cost saving options can come in handy since the costs for accommodation, either for buying a property or renting will be among the most substantial in Hong Kong. 
 
Good healthcare options are available for expats in Hong Kong and the per capita income is among the highest in the world. Many will also enjoy the subtropical climate.
 
Before starting a business in Hong Kong, it is advisable to learn a bit about the specifics of the business culture here. Although the city successfully combines Western and Asian elements it is worthwhile to learn a bit of Chinese and get accustomed to some concepts. 
 
The differences between company formation in Hong Kong and in Singapore are also notable, not only those related to the costs of living. 
 
If you are interested in knowing more about the business climate and the Hong Kong company formation process please do not hesitate to contact us.  
 
 

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