Globe Capitalist / Countries / Hong Kong

Hong Kong

An entrancing fusion of East meets West, Hong Kong beckons entrepreneurs with its formidable financial prowess, while also captivating leisure-seekers with its intricate blend of tradition and modernity. As an essential hub in global commerce, coupled with a rich cultural tapestry, it promises both professional opportunities and enchanting experiences.

Moving and living in Hong Kong: how and why to move to the Chinese special administrative region
Panoramic view of Victoria harbour from Victoria Peak (359 m), Hong Kong Island

Renowned as a towering metropolis, Hong Kong stands tall in the realms of finance, trade, and culture. The city, a Special Administrative Region of China, boasts an illustrious history while embracing the future with its cutting-edge innovations. Its unique positioning as a gateway between the East and the West makes it an attractive destination for business, investment, and tourism.

Country Hong Kong
Population 7.5 million (Source: World Bank, 2021)
Capital Central
Main cities Kowloon (approximately 2.2 million as of 2021)
Tsuen Wan
Yuen Long Kau Hui
Language Cantonese (around 90%)
English (widely used in business and government)
Mandarin and other Chinese dialects
Time in Hong Kong GMT+8
Currency Hong Kong dollar (HK$, HKD)
Religion Folk religion or Chinese traditional religions (around 28.3%)
Buddhism (around 13.2%)
Christianity (around 11%)
Tax regime 2% to 17% progressive tax
VAT VAT is not provided
Overage salary Approximately 20,000 HKD (Source: Various economic reports, 2021)

Hong Kong: Gateway to Prosperity and Culture

Hong Kong, often described as a place where “East meets West,” has consistently been a magnet for individuals seeking new opportunities. Its stature as a leading financial center, intertwined with a rich cultural heritage, offers a unique lifestyle that few cities can rival. Whether you’re an entrepreneur seeking to tap into Asia’s dynamic markets, a professional pursuing career growth, or someone eyeing a serene retirement amidst urban vibrancy, Hong Kong extends a warm invitation. Its world-class infrastructure, strategic location, and a blend of Eastern traditions with Western lifestyles make it an irresistible destination for relocation.

Living in Hong Kong

Cost of living

Living in Hong Kong can be comparatively expensive. Known for its soaring real estate prices, the cost of housing often consumes a significant portion of one’s income. However, costs can vary dramatically based on the district. Central districts have a premium, while the New Territories offer more affordability. Everyday expenses such as transportation and food remain reasonable, with an efficient public transport system and a plethora of dining options catering to varied budgets.

Quality of education

Hong Kong takes pride in its education system. Institutions like the University of Hong Kong (HKU), the Hong Kong University of Science and Technology (HKUST), and the Chinese University of Hong Kong (CUHK) are frequently ranked among the world’s best. These universities attract global talent, both in terms of students and faculty, ensuring a high standard of academic excellence.

Health care and insurance

Healthcare in Hong Kong is of a high standard. Public hospitals offer quality medical services at affordable prices. Additionally, numerous private hospitals and clinics provide top-notch care, albeit at a premium. For both citizens and non-citizens, a variety of insurance plans are available to cover medical expenses, with options ranging from basic coverage to comprehensive plans.


Hong Kong experiences a humid subtropical climate. Summers (June to August) are hot and humid, while winters (December to February) are mild and dry. Transitional seasons of spring and autumn are generally considered pleasant.

When is the best time to visit Hong Kong?

The best time to visit Hong Kong is during the cooler months of October to December. This period offers clear skies and pleasant temperatures. For budget-conscious travelers, visiting during off-peak seasons can yield cheaper accommodation and flight rates.

Fun and entertainment

For young expats, Hong Kong promises an exhilarating experience. From hiking trails that offer panoramic city views to pulsating nightlife in areas like Lan Kwai Fong, there’s never a dull moment. The city is also a sports enthusiast’s paradise, hosting events like the Hong Kong Rugby Sevens.

Best places to live in Hong Kong

For expatriates, popular districts include Central, Sheung Wan, and Wan Chai for their urban vibes, while areas like Discovery Bay cater to those seeking a tranquil environment for raising families. For retirees, the slower-paced Lantau Island might appeal.

Central (Population data not specific)

Central, the heartbeat of Hong Kong, is renowned for its skyscrapers, luxury boutiques, and dynamic atmosphere. Many are drawn here for its convenience and proximity to major business hubs.

Kowloon (2.2 million)

Kowloon, brimming with markets, malls, and a rich history, is popular for its balance of traditional and contemporary vibes. It’s a melting pot of cultures and offers a more local experience.

Tsuen Wan

A blend of modernity and traditions, Tsuen Wan attracts residents with its mix of old villages and new townships, providing a comprehensive Hong Kong experience.

Yuen Long Kau Hui

Known for its rich cultural festivities and traditional markets, Yuen Long Kau Hui has become a haven for those wanting a touch of old Hong Kong amidst modern amenities.

Is Hong Kong safe?

Generally, Hong Kong is a safe city with low crime rates. However, it’s always prudent to exercise caution, especially in crowded areas.

Moving to Hong Kong

How to move to Hong Kong as an expat


Several visa categories cater to different needs, such as work, investment, or study. The General Employment Policy (GEP) is popular among professionals, while the Capital Investment Entrant Scheme (CIES) caters to investors. Each visa has its criteria and duration of validity. For detailed information, it’s advisable to visit the official website of the Hong Kong Immigration Department.

Citizenship By Investment (Golden Visa)

Hong Kong does not offer a specific Citizenship By Investment program.

Residency By Investment

While there is no direct Residency By Investment program, obtaining a visa for investors is possible through schemes like the Capital Investment Entrant Scheme (CIES). This program requires substantial investment in permissible assets.

Does Hong Kong allow Dual Citizenship?

No, Hong Kong does not recognize dual citizenship. If you choose to become a Hong Kong citizen, you may need to renounce your previous citizenship.

Real estate

Real estate in Hong Kong is renowned for its sky-high prices due to limited land availability and high demand. Prices can vary greatly based on location. In the heart of the city, a small apartment can command a hefty price tag. Rural areas and New Territories offer relatively more affordable options.

Can expats buy property in Hong Kong?

Yes, expats can buy property in Hong Kong, subject to certain regulations and conditions. It’s important to consult legal experts and understand the specifics before proceeding with a purchase.

Why should I move to Hong Kong?

Relocating to Hong Kong presents a multitude of compelling reasons. The city’s unique blend of East and West, its position as a global financial hub, and its vibrant cultural tapestry make it an enticing prospect for individuals seeking new horizons. Whether you’re an entrepreneur aiming to tap into Asia’s business opportunities or an individual in pursuit of a diverse and enriching lifestyle, Hong Kong offers a gateway to endless possibilities.

Take a closer look at the advantages and drawbacks of life in Hong Kong:

Pros Cons
  • Dynamic business environment
  • Global financial hub
  • Cultural diversity
  • Efficient public transportation
  • High cost of living
  • Limited living space
  • Air pollution
  • Language barrier for non-Cantonese speakers

Doing Business in Hong Kong


Hong Kong’s economy thrives on its strategic location, facilitating international trade and finance. The city boasts a robust financial sector, supported by a well-established legal framework and regulatory environment. Major industries include finance, logistics, tourism, and professional services. Its proximity to Mainland China provides unique advantages for cross-border businesses.

Tax in Hong Kong

Hong Kong’s tax system is renowned for its simplicity and competitive rates. The territory operates on a territorial basis, meaning only income sourced within Hong Kong is taxable. Corporate tax is capped at 16.5%, and personal income tax follows a progressive structure, ranging from 2% to 17%. There are no Value Added Tax (VAT) or Goods and Services Tax (GST) levies, contributing to a business-friendly environment.


Hong Kong has emerged as a thriving hub for startups in Asia. The government actively supports innovation and entrepreneurship through initiatives such as the Innovation and Technology Fund (ITF). Co-working spaces, accelerator programs, and funding opportunities are abundant, fostering a dynamic ecosystem for startups to flourish.

Company formation in Hong Kong

Setting up a company in Hong Kong is a streamlined process that offers numerous benefits. The city’s strategic location, free-market policies, and low taxation make it an ideal destination for international businesses. Whether you’re an entrepreneur aiming to tap into Asian markets or a professional seeking to expand your global footprint, Hong Kong’s business-friendly regulations and efficient incorporation procedures provide a strong foundation for success.

How to open a company in Hong Kong?

For a comprehensive guide on opening a company in Hong Kong, please refer to our detailed step-by-step guide on the process.

How to open a bank account in Hong Kong?

Discover the essential steps for opening a bank account in Hong Kong by referring to our detailed guide.
Moving and living in Hong Kong: how and why to move to the Chinese special administrative region

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