5 brilliant reasons your BMP Wealth team love life in Hong Kong!
We feel extremely lucky to live in one of the best cities in the world! There’s endless fun, beauty, and culture to enjoy in Hong Kong.
What’s more, the city is a global business hub and offers a highly competitive tax environment, making it a great place to build your career and your wealth.
Ask any expat why they love living in Hong Kong, and you’ll probably be overwhelmed by a long list of amazing events, venues, and plenty more besides.
Read on to discover the BMP Wealth team’s favourite things about the city and get ready to book your flight!
1. The extremely competitive tax environment
CEO and founding director, Howard Clark-Burton has lived in Hong Kong since 1997. Having worked in financial services for more than 30 years, Howard loves the tax-efficient environment the city offers to him and his clients to build, manage, and preserve their wealth.
Compared to many other jurisdictions, Hong Kong has extremely low taxes, allowing its residents and expats to keep much more of their wealth. What’s more, the tax allowances are relatively high, so you could earn a generous amount before any taxes are payable.
Howard says: “I love the high standard of living in Hong Kong. We can enjoy all this sophisticated city has to offer without footing a large tax bill. This means that my expat clients can generate a lot of personal wealth that they can take with them if they choose to return home one day.”
2. The business benefits of a close relationship with China
Belt and Road Initiative: Chinese Xiami Highway bridge under construction
Our chief strategy Officer, James Ramsey, made Hong Kong his home in 2012. One of James’ favourite things about living in Hong Kong is its connectivity with China.
China is the second-largest economy in the world, behind the US. So, the close relationship between China and Hong Kong gives rise to a tremendous amount of business opportunities.
James says: “Whether you’re looking to take your career to the next level, expand your business, or grow your investment portfolio, Hong Kong is an amazing place to be.”
Indeed, the stock market is ranked the fifth largest in Asia and the eighth largest in the world.
Hong Kong is also heavily involved in China’s Belt and Road Initiative. This is an ambitious plan to develop two new trade routes connecting China to the rest of the world, which is sure to open up a host of new business opportunities for expats in Hong Kong.
3. Plentiful green spaces to explore
Dragon’s Back hiking trail
Your first thoughts of Hong Kong might be of a bustling city with soaring skyscrapers and mind-boggling technology. So, you might be surprised to learn that 70% of Hong Kong is green space.
Our chief technical officer, Jeanette Goatham Swain, loves nothing more than escaping to one of the city’s many country parks and green spaces after a long day in the office.
Jeanette says: “Before I moved to Hong Kong around 30 years ago, I was worried that I’d miss the English countryside and that I might feel claustrophobic amid the crowded streets of the city. So, I was delighted to discover that Hong Kong is full of highly accessible hiking trails and parks.”
4. An enriching cultural diversity
Traditional dim sum
Hong Kong is a wonderful mixing pot of cultures, which makes it a fascinating place to live.
The city attracts a huge number of expats, so you’ll find influences from all over the world in the buildings you see, the food you eat, and the languages you hear.
Chief investment officer, Ian Marsh made Hong Kong his home in 2001. He describes a walk through the streets of Hong Kong as, “A truly unique experience.
“One day you might stroll past a striking example of colonial architecture such as the Flagstaff House Museum and Tea Ware before enjoying dim sum at your favourite Cantonese restaurant. The next, you could be surrounded by some of the most modern buildings in the world, such as the Bank of China Tower, and planning a delicious Lebanese mezze for dinner.
“I love how no two days are the same in Hong Kong.”
5. So much to see and do!
We couldn’t squeeze all that we love about Hong Kong into this list. There’s so much to see and do in this incredible city!
So, as a team, we put our heads together to come up with some of our favourite Hong Kong attractions. These include:
Island hopping
Hong Kong is made up of more than 250 islands. We often escape the hustle and bustle of the city for a little time relaxing on an outlying island. Lantau Island, which is watched over by the huge, bronze Tian Tan Buddha, is a team favourite.
Victoria Harbour
The iconic skyline of Victoria Harbour is stunning, especially when it’s lit up by the multimedia light show that takes place most evenings. Taking a ride on the Star Ferry (one of the oldest forms of transportation in Hong Kong) is a fantastic way to get a close-up view of the skyline.
Ocean Park (not forgetting the likes of Disney)
This sprawling animal theme park offers a fantastic day out for the whole family. Ride a rollercoaster, enjoy a snorkelling experience, and interact with the animals. There’s plenty for the whole family to enjoy.
Happy Valley racecourse
Horse racing is one of the most popular spots in Hong Kong and the Happy Valley racecourse offers exceptional quality. The mid-week race nights are a real treat!
Get in touch
If you love Hong Kong as much as we do, drop us a line and tell us why. Did we miss your favourite thing about the city off our list?
Please email info@bmpwealth.com or call +852 3975 2878.