Hong Kong work in international companies. Is it worth moving to Hong Kong? Life in Hong Kong

Opening its doors to leading business leaders from around the world, Hong Kong is home to some of the world's leading companies and brands.

The opportunity to develop and earn money in Hong Kong today is a reality. There is everything here to feel successful.

But amid the luxury and rich bustle of the business world, company owners sometimes face a difficult problem to solve, and this problem affects the majority of local and foreign companies located in the Administrative Region. And the whole point, oddly enough, is the lack of professional personnel, especially in the field IT And programming.

The lack of specialists in the field of information technology is hampering the development of technology startup projects in Hong Kong, and the reason is the insufficiently high qualifications of the available specialists and web developers in the local labor market. This situation, it would seem, is not for Hong Kong, but the very struggle that companies organize among themselves in pursuit of IT specialists sometimes resembles military operations.

Consulting and training startup founder Mark Wong, who owns Tutor Spotter, is concerned about the limited availability of talent. In his opinion, a situation has developed in Hong Kong in which the struggle for good specialists in any case leads to disappointment against the backdrop of a weak personnel reserve. Mark Wong is engaged in the selection of students and teachers and does not hide the fact that he had to do most of the web development for “Tutor Spotter” himself, through self-training. The apparent lack of high-level web developers in Asia in general, and in Hong Kong in particular, often leads mid-sized business owners to think this way.

WHub service in Hong Kong

The startup project environment in Hong Kong is quite young, and companies participating in such projects are literally blindly navigating the correct search and selection of IT specialists and web developers. This service is a kind of community of startup projects with available vacancies, attracts and also helps all those who are looking for work in such projects.

Hot offers on the W-Hub website

There is another employment option: you will have the right to stay in Hong Kong for another year, during which you can get a job. With a certificate from a local educational institution, English language and desire, this will not be difficult.

If you have any questions about immigration and visas to Hong Kong, please contact us, we will provide full professional support in this matter.

Hong Kong is a city of skyscrapers that ranks third among all financial centers in the world. The state is one of the major trading powers, which constantly attracts not only tourists, but also workers of various specialties.

In order to go to work in this country, you must first familiarize yourself with the working conditions for foreigners, the procedure for obtaining a work visa, as well as issues of remuneration for a foreigner. In addition, it is advisable to get an idea of ​​the labor legislation in the country, calculate the average cost of living and anticipate possible difficulties. So, how to earn a lot of money and which country is better to go to to earn money?

Working conditions

Today, working in Hong Kong attracts Russians with high salaries. In addition, local entrepreneurs provide their subordinates not only with good wages, but also with social assistance. But for this, workers are required to be highly qualified and perform their assigned duties at the highest level.

In order to successfully find a job in Hong Kong, a foreigner needs to speak English at a high level and have a higher education. These conditions apply not only to office employees, but also to general-purpose workers (people who are looking for any job). True, working in Hong Kong for girls does not require professionalism or extensive experience. Local employers really appreciate the beauty of Russian women.

Work without knowledge of the state language

Today, Chinese is recognized as the official language in Hong Kong. Workers who speak written, technical and spoken Chinese are highly valued in the country. People who speak only English will also be able to find a job, but such vacancies appear on the market in very limited quantities. You need to understand that there is no work in Hong Kong for Russians who only know Russian.

In-demand vacancies

The most in-demand profession in Hong Kong is an English teacher. There is a big shortage of such employees here. A Russian citizen with a higher education and extensive experience in teaching English can easily find a job in Hong Kong.

Since hotels in this country open almost every day, there is a great demand for employees in the tourism industry. Knowledge of English will help you get a job in hotels, bars, restaurants, hotels. With a large influx of tourists, working as a guide will be relevant.

Due to the lack of professional chefs, this profession in the country is the most promising and profitable. If a newcomer has extensive experience and a good education behind him, then he will have the opportunity to choose his own place of work from well-known restaurants.

Media jobs in Hong Kong are also very popular. Since many Hong Kong residents are still native English speakers, you can easily find work in newspaper publishing houses, work as a reporter or photographer. But even in this area, a sufficient level of professionalism and at least minimal experience are required.

How to go to work and how to earn a lot of money

Hong Kong companies need professional employees with valuable knowledge to fill jobs. Therefore, it will be difficult for arriving Russian citizens without such professional qualities to find a job.

The first thing to do is find an employer. You need to prove to your possible future boss your indispensability in the professional field. Next, you should sign an employment contract with the employer. Then comes the usual procedure for collecting the necessary documents and registering the foreign worker for service. It is very important at the initial stage to obtain a certificate of permission to work in Hong Kong, which you need to wait for about two months.

The list of documents for obtaining a work permit includes the following papers:

• employment contract;
• certificate confirming the absence of local candidates for the position;
• document confirming higher education;
• description of the applicant’s experience in scarce vacancies;
• document confirming no criminal record.

Work Visa

Working in Hong Kong requires a work visa for everyone except those people who already have permanent residence in Hong Kong. For a foreigner, the employer is responsible for issuing a work visa. The law provides for several types of visas for official work.

General Employment Policy is the most popular work visa. The main conditions for obtaining it are the professionalism, knowledge and experience of the applicant. When applying for a work visa, you must wait about a month for a response from the consulate. The first visa is issued to a foreigner for a year, then it can be extended for two, and later for three years. It allows a foreign worker to bring his family to Hong Kong.

Entry Visa for a New Helper is a visa for less professional workers. It provides an opportunity to get a job as a domestic worker or an au pair. With such a visa, the employee must live on the territory of the employer and cannot take his family with him.

How to find a job in Hong Kong on your own

Russian citizens can find work in Hong Kong without intermediaries. But in order to find a decent job with a good salary, a visitor needs to know English well. Legal work without knowledge of the language is impossible.

In Hong Kong, most of the jobs are provided to Chinese and Hong Kong residents. Therefore, foreigners should start looking for a place in advance. You can search for a vacancy while sitting at home via the Internet. To do this, you need to go to the official website of the Department of Labor, as well as the official website of the Hong Kong Employment Service. In addition, you can use well-known sites for searching vacancies in this country: jobmarket, jobsdb, learn4good, indeed. After finding a suitable vacancy, it is best to contact the employer directly using email or other methods.

Jobs and salaries in Hong Kong for 2017

There are a large number of large companies operating in Hong Kong. In such corporations, a visitor has a great chance of finding a good job with a high salary. In 2017, Russians are recommended to try to get a job in the following large companies: CITIC Pacific, CLP Holding, China Mobile, HSBC, etc. These corporations lack professionals for the following positions: marketer, auditor, business consultant, brand manager . If you manage to get a job, a high salary awaits the foreigner.

In 2017, vacancies are available for residents of the CIS countries in banking services, the financial market, medicine, logistics and software. Work in Hong Kong for women is possible in hotels, bars, restaurants, medical centers or other places.

As of 2017, the official salary in Hong Kong is about 4.3 US dollars per hour. The average salary per month for 2017 is about 2,000 US dollars. This level of wages (when calculating the world average) is considered above average.

What taxes need to be paid

Taxes in the country are low, you need to pay them yourself. This is an important fact that increases the employee’s income. The tax rate varies between 2% and 17%. The state also provides many discounts on taxes, which can lead to 0% payment. But despite this, residents are required to fill out an electronic declaration.

The country has a high level of freedom and human rights. The authorities do not prohibit protests and always accommodate not only citizens, but also foreigners.

Working in Hong Kong: reviews from Russians

Most Russians say that living and working in this country is not easy. In order to get a job, Russians need a visa, and when applying for a document at the consulate, they must explain the reason for traveling to a foreign country. These clarifications affect the period for issuing a visa.

Russian citizens share their experiences and say that it is theoretically possible to come to the state on a tourist visa, find a job, and only then get a work permit. But if the authorities discover this fact, they can legally issue deportation from the country.

Problems with jobs for foreigners are created by the country's authorities themselves. Slavic people who worked in Hong Kong name several reasons for the difficulty of obtaining vacancies for visitors:

• the law states that before hiring a foreigner, the employer must make sure that the position cannot be filled by a local resident;
• an entrepreneur who has hired an “imported” employee must first register the open vacancy with the Department of Labor;
• the average salary of a foreigner should not differ from the average payment for a given position;
• an employee from another state is allowed to stay in the country if he has an employment contract with the employer.

Once the employment contract has ended, the foreign employee is obliged to return to his country. By continuing the document, you can stay (or come again) to the country to earn money.

TV Currently, the problem of finding a job is considered very urgent, and especially when it comes to finding a job outside the borders of one’s home country, in particular in Hong Kong. It is worth noting that this city is not only an excellent holiday destination for tourists from different countries, but is also suitable for temporary residence.

For ordinary tourists, you don’t have to cancel your visa, because you have the opportunity to stay in the country for two weeks. But, if you want to live and work, there are certain nuances that are important to know.

Popular work

Lately, foreigners have often been hired for certain jobs, but preference is given to those who have the following characteristics:

• Chinese language skills
• Experience
• Having a decent level of practice and knowledge in a particular industry

First of all, English translators are the most in demand among foreigners. The fact is that there are very few specialists in such activities in the country, and such persons are required for the tourism business, business negotiations and other situations.

Vacancies for teachers

• : Many vacancies for teachers
• : Also a good site for teachers
• : I also recommend taking a look
  
• : Required to view.

There is an option to get a job as a guide, because this is also a popular destination. There are a lot of tourists in the country, as a result of which a variety of excursions are held.

A very scarce activity is working as a cook. Yes, strange as it may seem, very few of the inhabitants of this country can boast of excellent cooking skills, and experienced chefs are always required in restaurants of even the highest level.

Salaries

First of all, the minimum salary that can be noted for a person without education is 650 US dollars. It is important to consider that in the profession of a housewife, as well as a simple nanny, the payment may be slightly lower. But this type of income can be found very rarely. If we consider the average salary in this state, it is about 2000 US dollars. If you have extensive work experience, good education, and language proficiency, the salary will be much higher.

Types of jobs

First of all, the work can be considered according to the following principles:

• Temporary
• Seasonal
• Constant

The temporary type represents an activity that is very difficult to find. That is why a large number of workers who work for several seasons try to come to the city on business trips. Such departures are processed by enterprises that have a representative office in Hong Kong.

This practice is popular in the banking sector and among other areas.

Basic job search site

• : The main site to start your job search in Hong Kong
• : Lots of useful information
• : Look here also
• : If you are looking for an internship or a low-level job
• : Also a great site where there are many vacancies

Where to look

Like other cities, Hong Kong has specific locations where employers advertise. To clarify, such advertisements can be found on the Internet and many print publications.

You can confidently search the pages of Internet resources using a request for work in Hong Kong. It is worth paying attention to sites of international importance, as well as local resources. It is very important to carefully consider all advertisements, as some of them may be addressed to local residents, and not to those coming from another country.

International sites for finding opportunities abroad

• : Large portal for work
• : Hong Kong is the financial capital of Asia, and if you are an economist, banks and then this resource is for you
• : You can also find a lot of useful information here
• : Study and watch
• : This site is even unnecessary to mention, but I will mention it.

There are also printed publications that are also popular. For those who do not have the opportunity or access to the Internet, this option will be optimal. There are many popular magazines and newspapers published in the city. Each of them has a huge number of job offers. When visiting restaurants or cafes, such publications are provided to guests free of charge.

As you can see, finding a job in the above city is not very difficult, it’s just that such a process requires not only certain knowledge, but also labor, as well as endurance. You shouldn’t immediately “rush” to the first job offer, because it may contain certain “pitfalls” that you won’t notice right away. It is recommended to contact special companies that provide employment abroad. A document is signed with such a company, as a result of which you will be guaranteed to be provided not only with work, but also with housing.

Currently, Hong Kong is one of the largest investment, financial and economic centers not only in Asia, but throughout the world. This is a great place not only for relaxation, but also for living. A high standard of living, developed infrastructure, a market economy, a modern health and safety system, prospects for building a career and financial well-being - all this attracts many foreigners to the region. At the same time, working in Hong Kong allows foreign citizens to fully experience the benefits of living in this country.

How to start working in Hong Kong

An important condition for obtaining the opportunity to work in Hong Kong is obtaining a work visa. It will not be needed only if the foreign citizen has a permanent residence permit

To obtain such a visa, you need to take into account some points. Firstly, you need to get a job offer from a local employer, and secondly, it is advisable to have such knowledge and skills that are scarce in the Hong Kong labor market at the time of applying for a visa.

Types of work visas

The most popular is a work visa issued on the basis of working in Hong Kong. The likelihood of obtaining such a permit is quite high if the person has work experience in the requested field, as well as if the type of his work activity is quite specific.

In addition, the following types of work visas can be distinguished:

• visa for persons improving their qualifications;
• visa based on investment activities in Hong Kong. In this case, acceptable investments include: real estate, financial assets (company shares, securities, convertible bonds), as well as certificates of deposit;
• visa issued under the Hong Kong Non-Resident Investment Scheme. The purpose of such a program is to facilitate the acquisition of resident status by those foreigners who have made investments in the administrative region, but do not conduct business in this jurisdiction.

Investment and work visa

An investment visa is issued if you are the founder of any real organization in Hong Kong or a new company that has a business plan for development in this country. Moreover, it is very important that your business is beneficial for the local economy.

Under what conditions can you get an investment visa?

In Hong Kong, there is a special government body created to consider requests from foreign citizens for visas and residence permits - the Immigration Department. When considering an application for an investment visa, he will take into account the following factors:

And finally, the most interesting thing is the restriction of travel abroad for debtors. It is the status of the debtor that is easiest to “forget” when getting ready for your next vacation abroad. The reason may be overdue loans, unpaid housing and communal services receipts, alimony or fines from the traffic police. Any of these debts may threaten to restrict travel abroad in 2018; we recommend finding out information about the presence of debt using the proven service nevylet.rf

• having an existing business (no matter in which country) or having the necessary qualifications and experience to develop a new business;
• Availability of premises for business. An obvious advantage will be the presence of a signed rental agreement for a period of at least 2 years;
• Availability of own funds to invest in the Hong Kong economy. The amount of the amount is not clearly defined, but practice shows that at least 1 million HKD (about 130,000 US dollars) should be invested. Evidence of funds may include, for example, bank statements, certificates of deposit, or other similar financial documents;
• a detailed business development plan for the next couple of years. The plan needs to justify the need for your personal presence in Hong Kong;
• hiring Hong Kong citizens. At the beginning of your investment activity, it is advisable to hire at least one employee to perform administrative or support functions from among local residents;
• the presence of possible customers in Hong Kong who express a desire to purchase your product or service.

Your chances of obtaining a visa increase significantly if you have met all the conditions listed above, but the final decision rests with the Immigration Department.

Initially, an investment-work visa is issued for a period of one year, and with each subsequent submission of documents - for two years.

Stages of obtaining a visa

A long-term investment and work visa will allow you to enjoy a number of benefits. One of them is that after 7 years you will be able to obtain a permanent residence permit in Hong Kong.

To obtain a work permit, you need to perform certain steps sequentially.

Registering a business in Hong Kong

The company registration procedure consists of two stages:

• approval of the name of the organization;
• application for company registration.

The company name is approved by filing an application with the Registrar of Companies. At the same time, a number of requirements are imposed on the name. For example, it can be presented in both English and Chinese, but these are the only two languages ​​that can appear in the name.

Once the name has been approved, you can apply to the Registrar of Companies to carry out the registration procedure, providing certain documents for this (in particular, the company charter, memorandum of association and other papers).



As a rule, the application is processed within several business days, after which the Registry issues a certificate of registration. However, the registration process does not end there - a number of formalities need to be completed: send the necessary documents to the Register (the director’s consent to take office, a letter indicating the legal address), open a bank account, register with the tax department.

How to find an agent for an investment visa

The search for an agent for obtaining an investment visa to Hong Kong should be approached with the utmost seriousness: you need to find a person who has extensive experience in dealing with the Immigration Service and knows all the nuances that may arise in a particular case. A professional agent will advise you on how to correctly submit information about you personally and your business, so that the processing time for your application is significantly reduced and your chances of receiving a visa are increased. He can assess in advance the prospects for you to obtain a long-term visa and will offer various solutions if any difficulties arise.

Usually good agents work on a 50% prepayment basis - the agent should know that you are trying to get a visa and will not change your mind. In turn, you must be confident that the work will be completed. That is why you should pay the remaining amount only after receiving confirmation of the issuance of a visa - otherwise the agent is obliged to return the amount previously paid to you.

How to prepare documents for obtaining an investment visa

Your agent will draw up a list of documents, according to which it is necessary to prepare copies of your personal papers, as well as documents of those people with whom you plan to travel to Hong Kong.

If you have an existing business in your country of residence, you should provide all possible evidence of the success of your business to show the seriousness of your intentions in Hong Kong (incorporation documents, bank documents, tax returns, contracts).

The agent fills out the immigration forms necessary for obtaining a visa, prepares the texts of cover letters and sends them to you for signature.

After signing the papers, they should be sent back.

How to get a temporary resident card

The Immigration Service issues an official notification that you have received the right to enter Hong Kong to carry out the declared activity, as well as the visa itself, which looks like a regular sticker for inserting into your passport. When you cross the border, you will be stamped with a date and your visa will be activated.

Within a month of arriving in Hong Kong, you must contact the Immigration Department and apply for a Temporary Resident Card, which will be issued within a few weeks of application.

During this period, you will receive a paper version of a residence card, using which you can freely leave and enter Hong Kong.

What documents are needed to obtain a work permit?

To obtain a work permit, a foreign citizen must submit the following documents:

• completed application form;
• copy of passport (identity card, foreign passport);
• detailed resume;
• copies of all diplomas or other documents confirming education;
• recommendations from previous employers;
• contract with the employer (or other paper confirming appointment to the position);
• photo.

Documents must be completed in either English or Chinese. If they are written in other languages, they need to be translated, after which it is advisable to have them certified by a notary.

You can submit documents in person by contacting the Immigration Department office in Hong Kong directly, or send them by mail. You can also contact the Chinese consular department in your country.

Experience, knowledge and skills needed in the employment process

Due to the highly competitive job market, finding a job in Hong Kong is not easy. However, there are industries that require skilled workers. These are areas such as:

• finance;
• education;
• tourism.

To get a job in a Hong Kong company, you need appropriate education. In addition, you will need to prove to the employer that your duties cannot be performed by any local residents.

The language barrier

There is a major hurdle in employing foreign nationals in Hong Kong. The fact is that about 90% of local residents communicate mainly in Cantonese (Guangzhou dialect), but at the same time perfectly understand Chinese (Mandarin). Thus, to find a well-paid job, it is advisable to speak Chinese. However, high-level knowledge of English, confirmed by an international certificate, can help you out.

How to find a job without intermediaries

In Hong Kong, like in most metropolitan areas, there are sites where job advertisements flock. First of all, this is the Internet. It makes sense to look for work on all resources – both local and international. In addition, you should look through newspapers and magazines, where you often find interesting job offers.

The most famous job search sites

You should start your job search with vacancies provided by government agencies. For example, on the official website of the Hong Kong Labor Department, as well as on the website of the employment service, you can find a lot of useful information about the Hong Kong labor market.



You should definitely follow the updates on the following resources:

• cpjobs.com/hk/ – This web page is aimed at foreigners and is an electronic version of the Hong Kong edition of the South China Morning Post. Here you can find prestigious vacancies for professionals in various fields;
• monster.com.hk/ – there is an excellent selection of vacancies mainly in the field of banking and finance;
• jobsdb.com.hk – this website allows you to find a job in your favorite industry, from engineering to law. This site is useful for finding job openings not only in Hong Kong, but also in Thailand, Indonesia and Singapore;
• ctgoodjobs.hk – On CT Good Jobs you can constantly follow updates and news in various fields. In addition, it is possible to create a resume online. And you can navigate the site thanks to the English version of the resource;
• jobmarket.com.hk – the Job Market allows you to constantly monitor available jobs in the most popular industries (finance, banking, medicine). In addition, there is a printed version of this resource, which is published every Thursday and Friday.

Advantageous job opportunities can also be found on international job websites such as careerjet.hk and learn4good.com. Don’t forget to follow the news on thematic forums and, if possible, go to Hong Kong, at least as a tourist.

Remember that you should write to employers both on regular social networks and on professional ones.

Printed Resources

Newspapers and magazines are not as popular and in demand as online employment resources, however, there are excellent options among them:

• Hong Kong Standard - in its heyday, this newspaper was a reference book for all immigrant job seekers. However, with the advent of the Internet, it faded into the background, although it is now published in Hong Kong every Saturday and still contains 30 pages of various vacancies;
• South China Morning Post – You can get this magazine for free at many cafes in the Lan Kwai Fong and SoHo areas. It is in this magazine that there is a small advertisement section, which often contains offers for the most unusual and creative vacancies in Hong Kong.

The most in-demand jobs in Hong Kong in 2019

Hong Kong is a region where a huge number of companies, including transnational ones, are located. It is in such corporations that there are good chances for employment. For example, vacancies in Hong Kong for Russians and other people from the CIS countries can be found in such large companies as HSBC, China Mobile, CLP Holdings.

Marketers, brand managers, auditors, logisticians, and doctors are considered rare and necessary professions in Hong Kong. It is quite difficult to occupy such jobs, but if you still manage to get a job, you can count on a high level of wages.

Basically, work in Hong Kong for Russians and other citizens of the CIS in 2019 is possible in the field of tourism, in the market of financial and banking services, as well as in the field of high technology.

What conditions will you be working in?

Local employers create very good working conditions for their employees, primarily high salaries and a full benefits package. The country has created favorable conditions for building a career: there are practically no taxes here (and existing taxes are extremely low), the difference in the level of income of citizens is constantly decreasing, and economic growth rates are increasing.

The government pays great attention to the safety and health of workers. This attitude towards workers, as well as a high level of income, increases labor productivity and reduces staff turnover.

Schedule

The working week in Hong Kong actually lasts 5.5 days, since you also have to work on Saturday until midday. The working day officially begins at 9 am and ends at 6 pm, but in reality it can last until 8 pm, since the vast majority of workers, for example, in banking institutions and offices, remain at their jobs until they finish their work . In addition, it is not customary here to leave work before the boss.

Tax system

The transparency of Hong Kong's tax system for foreign investors is due to the growing number of non-residents in the area. However, the authorities of this region have created a clear tax system not only for businessmen. The taxes levied on individuals here are among the lowest in the world.



It is noteworthy that only certain types of income are subject to taxation (profit, wages, non-productive income (real estate)). This is the main difference between Hong Kong's tax system and the tax systems of other countries.

Salary in Hong Kong

The official minimum wage in Hong Kong in 2019 is 34.5 HKD per hour (about 4.3 US dollars), which is above the global average.

Salary directly depends on the employer, type of activity, work experience, education received and gender. Men in Hong Kong earn more than women.

The average annual income of a Hong Kong citizen is around HKD 380,000 (USD 48,000).

The average salary in Hong Kong in 2019 is approximately 2,000 US dollars.

Life in Hong Kong

If you like constant movement and big cities, then given the pace of life in Hong Kong, you will like it here. And if New York and London can claim to be alive twenty-four hours a day, Hong Kong, with its 24-hour activity, eclipses even them. Shops and markets almost always remain open from 9am to 11pm, and restaurants open early in the morning. Hong Kong is considered a welfare state, so everyone seems to have a place here.

However, upon arrival in the country, it is worth taking care of housing, because it is expensive here. The monthly rental amount can range from 900 to 12,000 HKD (100-1500 USD). It is more reliable to look for housing through real estate agencies, but their services cost a lot.

How to get an internship in Hong Kong

Doing an internship in this region is certainly very prestigious, because Hong Kong is one of the top five global financial centers and the best places to do business, being one of the most attractive regions for investors.

Foreigners mainly seek internships in the following industries:

• business - you can try contacting, for example, the world's largest company in the field of auditing and business consulting services, PwC.
• education – the most prestigious universities in Asia are located in Hong Kong. Moreover, the main educational institution - the University of Hong Kong - provides grants for training to foreign students and offers a number of interesting internships in various specialties;
• banking - internships can be completed at leading banks in Hong Kong (The Hongkong and Shanghai Banking Corporation, Bank of East Asia).

Consequences of illegal employment

It should be noted that foreigners found guilty of illegally entering Hong Kong may eventually be deported and banned from visiting the country for 5 years, but the authorities may be limited to a verbal warning the first time. At the same time, the employer may receive a high fine for each illegally employed immigrant.

It is important that foreigners working in Hong Kong have their ID (passport), employment permit and residence permit in order. Otherwise, the immigrant may be fined or imprisoned.

How to move to China? Work in China and salaries: Video

Hong Kong is the largest economic center, a powerful Asian tiger with a decent standard of living, its own currency (Hong Kong dollar) and high wages, which are at the level of prosperous Western countries. The website will discuss the level and cost of living in Hong Kong in 2018: from average wages to prices for utilities, food in supermarkets, transport, rent and purchase of real estate. How did this metropolis manage to become the leading economic center of Asia? Firstly, the metropolis is a major trade and transport hub.

Level and cost of living in Hong Kong in 2018

The favorable geographical location influenced the economic miracle. Secondly, the government has directed all efforts to make this administrative center financially attractive to investors from different countries. To achieve this, the government has established a high level of investment protection, a minimal tax burden on business, and the absence of strict restrictions on trade and the movement of capital. Such a favorable economic climate has attracted major investors, players, companies and firms of world renown here. All this was reflected in an increase in the general standard of living and an increase in wages, which are even ahead of a number of Western countries.

Utility payments, buying and renting apartments in Hong Kong

The financial boom was reflected in the rise in cost of living. Visitors and native Hong Kong residents complain about high rents. People with high incomes can afford to rent a spacious apartment. The greatest demand is for apartments and studios with an area of ​​20-35 square meters. The cost of the rental rate is determined by various criteria, including the floor, view from the window, surrounding infrastructure, area, area, amenities.

Average prices for apartment rentals in different areas of Hong Kong

Approximate monthly utility costs for different areas

Prices per square meter

The main factor influencing the rapid rise in prices for purchasing housing is the limited amount of land. For this reason, there are practically no low-rise residential buildings in Hong Kong, but only high-rise skyscrapers with a huge number of apartments. In the city center, a square meter costs astronomical money. Millionaires can afford such real estate. The real estate market is developing due to low interest rates on mortgages, which are issued here on average at 2.30% per annum.

Average salaries in Hong Kong in 2018

The government of this administrative center of China is interested in attracting brains and qualified specialists from around the world. Professionals with good knowledge of English are valued, as many English-speaking investors and companies operate in this city. This also applies to the tourism industry. Workers with excellent knowledge of English have a high chance of finding employment in hotels, travel companies, etc. You can use an example to compare it with the income level of a Hong Kong resident. The difference will be noticeable. Therefore, this region can be called the Asian Switzerland.

Food prices in Hong Kong in 2018

In Hong Kong supermarkets you will find food for every taste. The list below shows average food prices in Hong Kong: dairy products, meat, vegetables, fruits, soft drinks (juices, water), alcoholic drinks (beer, wine), cigarettes, fish, etc.

Other living expenses

This list includes prices for additional living expenses, including the Internet, mobile communications, transport, taxis, etc.