Hong Kong is the top location for entrepreneurs, followed by London, with Luxembourg and Vienna the best places for families, new research shows.
But for those wishing to retire abroad then Sydney, Maltal, Luxembourg, Limassol in Cyprus and Vienna are the best locations, according the global lifestyle review from real estate firm Knight Frank and accountancy and business advisory firm BDO.
The report looks at the best place for an entrepreneur who wants airport access and entertainment on tap, a family whose priorities are good schools and outdoor activities, or a retiree for whom security, healthcare and a likeminded community top the list.
For the entrepreneur Hong Kong is top, followed by London and Vancouver with Geneva, Sydney, Vienna and Dubai all fourth equal, then Singapore, Copenhagen and Monaco.
Luxembourg is top for families, followed by Vienna, Hong Kong, Geneva, Dubai, London, Singapore, Vancouver, Dublin and then Miami while for a retired couple it is Sydney, Malta, Luxembourg, Limassol, Vienna, Faro, Auckland, Vancouver, Copenhagen and finally Monaco.
The report suggests that when considering the tax implications of moving to another country particular attention should be paid to the different types of taxes. Many countries around the world offer favourable tax regimes for foreigners living in their country. These vary from a low headline rate of tax, exemption for tax on foreign income, tax breaks on local employment income and lump sum tax regimes.
Those with low tax include the British Virgin Islands, the Cayman Islands, Hong Kong, Luxembourg and Monaco. While those with favourable tax for new residents include Australia, Austria, Brazil, Canada and Cyprus.