Opportunity of a contract in Hong Kong
Discussion
Hi
I did not know about this section of the forum!
I have been offered a contract position in Hong Kong.
The snag is there is no relocation cost, and I will need to get myself sorted.
What sort of monthly outgoings am I looking at? Ideally I would like to stay on the island itself.
Is accommodation fitted out or not? What about electricity, water, internet and mobile costs?
Although I have been to Hong Kong numerous times - I have no idea about relocating.
I need to ensure the p/m rate will cover my UK costs as well as 3-4 flights a year and costs in HK.
Many thanks for your input.
I did not know about this section of the forum!
I have been offered a contract position in Hong Kong.
The snag is there is no relocation cost, and I will need to get myself sorted.
What sort of monthly outgoings am I looking at? Ideally I would like to stay on the island itself.
Is accommodation fitted out or not? What about electricity, water, internet and mobile costs?
Although I have been to Hong Kong numerous times - I have no idea about relocating.
I need to ensure the p/m rate will cover my UK costs as well as 3-4 flights a year and costs in HK.
Many thanks for your input.
I was in the same boat 2 years ago - moved and never looked back. Contracting as well on a daily rate and had to pay my way over. The main reason you have to pay yourself is if it matches UK rates, it'll be more than the locals get.
All the below is in HKD, which is about 12-12.5 to the GBP.
Accommodation varies depending on what you want. You can get with or without furniture, or even a serviced apartment with maid service. On the island you can pay from $8000 to $200,000 per month depending on size and location. I pay $28,000 a month for 1,200 sq ft with a pretty special view across the harbor and kowloon. Have a look on http://www.squarefoot.com.hk/ to see whats around.
Bills vary, I pay about $1000 per month for electric and $100 per month for gas, the electric being expensive at the moment as its hot season so air con is running all day long. Internet is about $200 per month (I get mine free with work) and is up to 1Gbs, so a lot faster than the UK. Mobile is about the same as the UK, I paid $3000 up front and $180 a month for unlimited calls/data on an iPhone 4 (got it 2 years ago). TV packages are the same cost as the UK.
Other costs can be a lot less than the UK - public transport is buttons. $4.5 to get across the island on the MTR, I've never paid more than $120 in a taxi. Food is as cheap as you want, eat local for good food for practically nothing or eat in Michelin starred places for thousands. Loads of places to eat as well, most of the locals eat out more often than not. Beer can be expensive - expect to pay at least $60 in an expat bar. Nightlife is really good though.
If you want a live in maid, they are $3,500 a month plus insurance, all their food, plus one flight home every two years. Not expensive for a 6 day a week live in helper. If you want someone to not live in and do a few hours then its not too bad, $70 for a couple of hours.
Relocation is not cheap - we paid about six thousand quid for shipping all our stuff, flights etc over.
Tax is cheap - budget around 10% of your pay or less if you contract through the right scheme (if you don't have an umbrella type company yet check out CXC - not cheap at 5% of your rate but they do some very creative but legal accounting).
Cars are expensive, especially if your apartment doesn't have parking. You can pay from $3,000 a month just for parking.
Certainly if your contract rate is anything like the rates working in IT for banks in london then you'll be absolutely fine even paying the relocation yourself as long as you have some ready cash to bring over. Renting is expensive, and you have to pay 2 months rent as a deposit, first month up front and half a month agency fees - so to move into a $20,000 place you have to hand over $70,000 up front.
Overall though, its an amazing place. Very crowded and you have to give up on space but worth it. It's good for all walks of life from singles to families. We're glad we moved - I moved with my wife and now have child number one on its way, and we have no plans to leave for a while. It's got everything in one small place.
PM me with any questions you have. I'll be happy to help where I can.
All the below is in HKD, which is about 12-12.5 to the GBP.
Accommodation varies depending on what you want. You can get with or without furniture, or even a serviced apartment with maid service. On the island you can pay from $8000 to $200,000 per month depending on size and location. I pay $28,000 a month for 1,200 sq ft with a pretty special view across the harbor and kowloon. Have a look on http://www.squarefoot.com.hk/ to see whats around.
Bills vary, I pay about $1000 per month for electric and $100 per month for gas, the electric being expensive at the moment as its hot season so air con is running all day long. Internet is about $200 per month (I get mine free with work) and is up to 1Gbs, so a lot faster than the UK. Mobile is about the same as the UK, I paid $3000 up front and $180 a month for unlimited calls/data on an iPhone 4 (got it 2 years ago). TV packages are the same cost as the UK.
Other costs can be a lot less than the UK - public transport is buttons. $4.5 to get across the island on the MTR, I've never paid more than $120 in a taxi. Food is as cheap as you want, eat local for good food for practically nothing or eat in Michelin starred places for thousands. Loads of places to eat as well, most of the locals eat out more often than not. Beer can be expensive - expect to pay at least $60 in an expat bar. Nightlife is really good though.
If you want a live in maid, they are $3,500 a month plus insurance, all their food, plus one flight home every two years. Not expensive for a 6 day a week live in helper. If you want someone to not live in and do a few hours then its not too bad, $70 for a couple of hours.
Relocation is not cheap - we paid about six thousand quid for shipping all our stuff, flights etc over.
Tax is cheap - budget around 10% of your pay or less if you contract through the right scheme (if you don't have an umbrella type company yet check out CXC - not cheap at 5% of your rate but they do some very creative but legal accounting).
Cars are expensive, especially if your apartment doesn't have parking. You can pay from $3,000 a month just for parking.
Certainly if your contract rate is anything like the rates working in IT for banks in london then you'll be absolutely fine even paying the relocation yourself as long as you have some ready cash to bring over. Renting is expensive, and you have to pay 2 months rent as a deposit, first month up front and half a month agency fees - so to move into a $20,000 place you have to hand over $70,000 up front.
Overall though, its an amazing place. Very crowded and you have to give up on space but worth it. It's good for all walks of life from singles to families. We're glad we moved - I moved with my wife and now have child number one on its way, and we have no plans to leave for a while. It's got everything in one small place.
PM me with any questions you have. I'll be happy to help where I can.
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