What Is A Good Salary In Hong Kong 2020?

Why is rent so expensive in Hong Kong?

Mainland developers are driving up costs The land is selling for record amounts, increasingly to Chinese mainland developers, which in turn are likely to command record high prices for buyers for apartments and rental spaces built..

How much is a 2 bedroom apartment in Hong Kong?

A$1000 = HK$5,931….How expensive is Hong Kong in comparison to the USA, the UK, the EU and Australia?Comparing basic cost of livingHong Kong1 bedroom flat in city centre (monthly rent)HK$16,551Lunch for 2 (3 courses, mid range restaurant)HK$350Transportation (monthly pass)HK$4603 more columns•Aug 31, 2017

Is 30000 hkd a good salary?

If you want a more decent place to live in, say 500 sq feet in downtown, HKD 30k (your whole salary) may not be enough. … So, IMHO, if your company provides housing for you, I think HKD 30000 is OK, not very nice, but OK, and you should be able to live a comfortable life.

Is Hong Kong a tax haven?

The tax structure and Hong Kong’s ongoing dedication to preserving secrecy for investors have contributed to it becoming a popular tax haven that has helped establish it as one of the world’s premier financial hubs.

How do I pay tax in Hong Kong?

How Do You Pay Your Tax Bill If You Don’t Have Enough Money Saved? Pay in installments by applying to the IRD. Take out a tax loan from banks or non-bank lenders in Hong Kong – interest rates for tax loans are lower than regular personal loans and easier to apply for.

What is considered a good salary in Hong Kong?

A HK$1.5 million yearly income would mean a monthly salary of HK$125,000. According to the Population Census last year, only 4.2 per cent of the working population earn more than HK$60,000 a month, the highest category in the report. Hongkongers on average earn HK$12,800 per month.

What is the average salary in Hong Kong?

$362k.The average salary in Hong Kong is HK$362k. Trends in wages decreased by -100.0 percent in Q2 2020. The cost of living in Hong Kong is 100 percent higher than the national average.

How much tax do I pay in Hong Kong?

Individuals are taxed at progressive rates on their net chargeable income (i.e. assessable income after deductions and allowances) starting at 2% and is capped at 17%; or 15% of net income (i.e. income after deductions only), whichever is lower. For further details, refer to Hong Kong Personal Income Tax guide.

How much does an apartment in Hong Kong cost?

List of prices in Hong Kong Current as of Sep 2020.Food[Edit]Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive areaHK$23,195Monthly rent for a 45 m2 (480 sqft) furnished studio in normal areaHK$14,012Utilities 1 month (heating, electricity, gas …) for 1 person in 45 m2 (480 sqft) studioHK$94656 more rows

Is it difficult to get a job in Hong Kong?

Although Hong Kong has a reputation as an expat playground, it has never been harder to find a job here. Competition from mainland immigrants is fierce, and work visa rules are tighter than ever before. … Finding work for the lone expat is much more difficult, primarily because they don’t speak Cantonese.

Is Hongkong tax free?

Most goods in Hong Kong are tax free.

Is Hong Kong more expensive than London?

Hong Kong is 5% cheaper than London.

Why are taxes so low in Hong Kong?

Companies and workers in Hong Kong enjoy some of the lowest taxes in the world. This is partly because the government has huge fiscal reserves equivalent to more than 12 months of expenditure. The interest received on these reserves is a crucial source of revenue, and helps keep the tax burden light.

How much does a house cost in Hong Kong?

According to the report, the average price of a home in Hong Kong in 2019 is more than $1.2 million. High demand and short supply have driven property prices to “unaffordable” levels in recent years, with the territory planning to build an $80 billion artificial island to help fix the crisis.

How much money should I bring to Hong Kong?

Travellers in and out of Hong Kong will need to declare if they are carrying more than HK$120,000 (US$15,300) in cash, after a new law to tackle dirty money comes into force in mid-July.

How much money do you need to live comfortably in Hong Kong?

You should allow for HK$30,000 to HK$50,000 (US$3,900 to US$6,500) per year for other living costs, including food, leisure, transportation, and personal items, depending on how extravagantly you plan to live. How much do things cost in Hong Kong? Check out these prices, for your reference.

What is the average salary in Hong Kong for expats?

US$178,706The global Expat Explorer Survey, which comprised 22,318 respondents from 163 countries and territories, found that expats in Hong Kong earn an average salary of US$178,706 (HK$1.4 million), which is US$72,000 more than the average expat globally. The mainland is next at US$172,678, followed by Singapore at US$162,172.

What is the average rent in Hong Kong?

The average rent for a one-bedroom apartment in Hong Kong can range from 12,000 to 20,000 HKD (1,500 to 2,500 USD) or more per month. On the upside, most apartments easily meet the highest standards of living.

Where do most expats live in Hong Kong?

Whilst some intrepid souls love living in ‘the dark side’ of Kowloon, there are three key areas that expatriates tend to gravitate towards: the south side of the island including Stanley and Pokfulam; the Peak; and over to the New Territories, Sai Kung and Clear Water Bay. All of them have their pluses.

How bad is the air quality in Hong Kong?

Air pollution in Hong Kong is considered a serious problem. Visibility is less than eight kilometres for 30 per cent of the year. Cases of asthma and bronchial infections have soared in recent years due to reduced air quality.

Is food expensive in Hong Kong?

While meal prices in Hong Kong can vary, the average cost of food in Hong Kong is HK$205 per day. Based on the spending habits of previous travelers, when dining out an average meal in Hong Kong should cost around HK$82 per person. Breakfast prices are usually a little cheaper than lunch or dinner.