Hong Kong, a vibrant metropolis and global financial center, has long been a popular destination for expats seeking new opportunities and experiences.
With its unique blend of Eastern and Western cultures, advanced infrastructure, and gateway to world markets, Hong Kong offers an exciting and rewarding lifestyle for those who choose to call it home.
In this comprehensive guide, we’ll explore everything you need to know about living in Hong Kong as an expat, from housing/transport to healthcare/visas.
Overview and Cost of Living
As of 2024, Hong Kong’s population stands at 7.5 million people. The cost of living in Hong Kong can vary widely your marital status and lifestyle.
For a family of four, the estimated monthly costs are HK$30,000 without rent, while a single person’s estimated monthly costs are HK$8,500 without rent.
Rental prices range from HK$10,000 to HK$25,000 for a one-bedroom apartment and HK$20,000 to HK$60,000 for a three-bedroom apartment, depending on the area.
Hong Kong is well-known for being one of the most expensive places to live in the world.
In fact, real estate here costs significantly more than even New York or London!
However, some government-linked organizations, such as the Hong Kong Science and Technology Parks Corporation, offer subsidized co-living spaces that can help reduce rental costs.
Housing and Rentals in Hong Kong
Finding a suitable place to live in Hong Kong can be challenging due to the city’s high population density and limited space.
Most expats opt for apartments or serviced apartments, as houses are scarce and expensive.
Popular expat areas include Mid-Levels on Hong Kong Island and Discovery Bay, which are in high demand among families with young children due to their proximity to international schools and expat communities.
In these areas, expect to pay HK$40,000 to HK$50,000 per month for a three-bedroom apartment.
When renting in Hong Kong, be aware that leases are generally for two years, with a break clause after one year. Security deposit of two to three months’ rent is required, and utility bills are rarely included in the monthly rental fee.
To find accommodation in Hong Kong, it’s generally best to work with a realtor that can help you navigate the market and find a place that suits your needs and budget.
Transport in Hong Kong and MTR
Hong Kong residents enjoy an advanced public transport system, making it easy for expats to get around without owning a car.
The five main modes of public transport are:
- Taxis: Convenient and efficient, but more expensive than other options.
- Buses and Minibuses: Extensive coverage, affordable, and convenient, with fares ranging from HK$4.50 to HK$47 depending on the destination.
Finding suitable accommodation in Hong Kong can be challenging due to the city’s high population density and limited space.
- Tramway: A unique and affordable way to explore Hong Kong Island, with fares ranging from HK$1.3 to HK$3.
- Star Ferry: An iconic and affordable mode of traveling between Hong Kong Island and the Kowloon Peninsula, offering stunning views of Victoria Harbour.
- Mass Transit Railway (MTR): By far the most convenient and preferred mode of public transport, efficiently connecting various regions of Hong Kong.
To access and pay for all modes of public transport, you’ll need an Octopus Card, a prepaid electronic card.
Hospitals in Hong Kong
Hong Kong has an excellent healthcare system, ranking first worldwide in the 2018 Bloomberg Health-Efficiency Index.
The city offers both public and private healthcare options. The public healthcare system is accessible to all residents, including expats, with minimal to no charges, as long as you have a valid visa and Hong Kong ID card.
Queen Mary’s Hospital and Queen Elizabeth Hospital are widely considered two of the best in Hong Kong.
However, the public system does not cover dental care, which can be expensive without private health insurance.
Private hospitals are popular among expats who want shorter waiting times, English-speaking doctors, and more extensive coverage.
The cost of private health insurance in Hong Kong varies based on factors such as age, medical conditions, and provider, with average plans ranging from HK$2,000 to HK$25,000 for a 30-year-old individual.
Expat Taxes in Hong Kong
Hong Kong has a relatively low personal tax system, which can result in expats paying lower taxes compared to their home countries.
Income tax is applied at either a progressive rate starting at 2% and up to 17% for salaries over HK$135,000 or a standard rate of 15%, whichever is lower.
Various allowances and deductions can be applied, and it’s your own responsibility to file a tax assessment, with the bill payable in two lump-sum installments every January and April.
Culture and Lifestyle
Hong Kong is renowned for its unique cultural blend, where East meets West, offering expats a sense of familiarity and excitement. The city is a sophisticated mix of Confucian and British ethics and cultures.
In addition to its vibrant nightlife, Hong Kong offers a wide range of family-friendly attractions, such as Hong Kong Disneyland, Wetland Park, Victoria Peak, Ocean Park, and the Space Museum.
English and Cantonese are the most commonly used languages in Hong Kong, with about 55% of people speaking English and 95% speaking Cantonese.
When interacting with locals, be mindful of social norms such as refraining from physical contact unless in a close relationship and being prepared for the absence of small talk and greetings.
Education and Schools
Hong Kong’s education system is well-regarded, with both public and private schools available.
Public schools offer free education from primary to senior secondary level (ages 6 to 18). International schools are popular among expat families due to a more Westernized approach and smaller class sizes.
Hong Kong is renowned for its unique cultural blend, where East meets West, offering expats a sense of familiarity and excitement.
However, international school fees can be quite costly, ranging from HK$100,000 to HK$200,000 or more per year, depending on the school and grade level.
Visa Options
To live and work in Hong Kong as an expat, you’ll need to obtain the appropriate visa. The most common visa options include:
- General Employment Policy (GEP) – Professional: For expats moving to Hong Kong for work, requiring a confirmed job offer and sponsorship.
- General Employment Policy (GEP) – Entrepreneur: For professionals establishing or joining a business in Hong Kong.
- Top Talent Pass (TTPS): For experienced professionals with good academic qualifications, without requiring a confirmed job offer at the time of application.
- TechTAS: A fast-track arrangement for eligible companies to bring in non-local tech talent.
- Dependent Visa: For immediate family members (spouse/unmarried children under 18) of a foreign national with a valid Hong Kong visa or permanent resident.
- Investment as Entrepreneur Visa: For expats moving to Hong Kong as investors joining or establishing a business.
Once you’ve entered Hong Kong on a valid visa and decided to stay longer than 180 days, you must apply for a non-resident Hong Kong identity card within 30 days of your arrival. It’s crucial to not forget this step!
Finding a Job as a Foreigner
Hong Kong, as one of Asia’s leading tech and finance hubs, has plenty of jobs available for expats. Speaking Mandarin or Cantonese certainly helps though.
The city is home to many multinational companies, with dominant industries which include banking, IT, and exports.
The Hong Kong government has also set up initiatives, such as the Hong Kong Science and Technology Parks Corporation (HKSTP), to support talent and innovation in these sectors.
Expats with a few years of experience in professional occupations can expect to earn competitive salaries in Hong Kong.
Finance jobs offer some of the highest salaries, with many managers earning over HK$500,000 per year. Likewise, Marketing and tech roles offer salaries comparable to those in other global cities like London and Singapore.
In summary: Hong Kong is a truly global city and the expat lifestyle can be rewarding.
Yet it’s essential to prepare for the challenges that come with relocating here, such as the high cost of living, competitive housing market, and adapting to the local culture.
