If you fancy living in an urban dwelling riddled with high-rise buildings, Hong Kong might just be the place for you. Hong Kong and Macau make up the Republic of China's special administrative regions. A UK crown colony since 1842, Hong Kong has reached a level of westernization though it remains steadfast to its Chinese roots. 

Retiring to a A New Life in Hong Kong

Climate in Hong Kong

Hong Kong is predominantly subtropical with an inclination for monsoons. Winter ranges from December through early March, with air that's usually cold and dry. Summers and springs are usually rainy, humid, or hot. Autumns are moderately warm and sunny. Tropical cyclones might affect Hong Kong during early autumn and summer. Despite being a small island, Hong Kong has been a stable land for hundreds of years. Landslides after a huge downpour are, however, common. It is coldest in Hong Kong during January with temperature averaging 16.1 degrees Celsius. July is hottest, averaging 28.7 degrees Celsius in temperature.

Government in Hong Kong

Hong Kong's Basic Law serves as the local government's constitution. The government rules over the whole island except for some specified areas such as locations for foreign relations and national defense. A Chief Executive Committee comprised of 800 individuals appoints a Chief Executive who would be recognized as head of both territory and government. Consequently, the Chief Executive appoints seats in the government's legislative and executive branches. At times though, these positions are left to be elected by the public. Legislative Council of Hong Kong (LegCo) is a unicameral legislation with the power to approve or deny new laws along with the Chief Executive.

Tax System in Hong Kong

Hong Kong is known for its generous tax laws. Many economists attribute the country's rising prosperity to this fact. The taxes in the island have remained low even as of today. Countries around Asia and even the US are trying to emulate Hong Kong's tax implementations. The tax laws in the city allow charitable tax deductions of up to twenty-five percent of one's annual income. The deduction for interest for mortgages is up to 13,000 US dollars. Tax deductions for retirement plans, costs for the caring of the elderly, and costs for college education are also applicable. Residents do not pay taxes for their Social Security. General and Value Added Tax are also absent from their system. Businesses pay only taxes for their profits earned and employees only pay taxes based on their salary.

Medical Care in Hong Kong

Modern facilities for health needs are present throughout Hong Kong. Western-trained doctors are common so the need to fear for your health is unnecessary. Credit cards are not widely accepted by medical facilities. However. It might be best if you bring extra cash wherever you go in case of emergencies. If you are not yet recognized as a resident of Hong Kong, inquire about the health insurance policies in your country if it would cover your medical expenses abroad. It might also be best to steer clear of street foods until you familiarize yourself to which ones sell clean products that are fit for consumption.

Real Estate in Hong Kong

Hong Kong's flat land is only 200 square kilometers wide. Due to this and the ever expanding population of the territory, Hong Kong has been focusing on developing high-rise buildings. The most expensive apartment rentals in Hong Kong's lush districts are priced up to 60.90 US dollars per square meter. Since the population rise on Hong Kong is estimated to be 85%, there are many different alternatives for you to choose from - you just have to find the one suitable for you.

Shopping in Hong Kong

Popular for being a bustling metropolis, Hong Kong offers different shopping centers for different types of people - from malls and department stores to open-air markets. Hong Kong's malls are usually occupied by designer haute couture boutiques and fine dining restaurants. The island boasts some of the trendiest malls in the world. Department stores selling generic brands are also present in every mall. Open-air markets, on the other hand, are perfect for bargain hunters. These markets are where the real action takes place and where the shop-a-holic could satisfy the desires of a shopping spree.

Cost of Living in Hong Kong

Hong Kong is recognized as an expensive city to gain residence. Perhaps not as costly as Moscow, Seoul, and Tokyo - but still costly enough to burn a hole in your pocket if you are not used to the territory's way of living. It is true that the every day prices in Hong Kong are high compared to others. However, the main aspect that can cripple the ordinary individual is apartment or house rent. But Hong Kong still remains a city of good finds if you know where to look and know how to bargain.