Singapore is ninth in the Asia Pacific regional rankings this year. Things have changed since the global recession, with international markets stabilising to differing extents. Instantly learn the expat salary you need to live comfortably abroad, including cost of living, housing rental cost, income tax and social contributions. Moving Abroad. “Hong Kong stood out against the global trend of lower expat packages in 2019, and is one of the only locations in our rankings that saw all aspects of the average package … People moving to Hong Kong on an expat employment package should try and negotiate a shipping allowance in their contract. However, that does not mean that moving to Hong Kong is hard. This week we’re speaking with a woman who was facing an overseas move and needed to negotiate her expatriate package. It's also worth noting that in some parts of the world it is better to hire a driver instead of driving yourself, so you may need to factor this into your allowance budget. Simply click here to get started! It's important to check that your housing allowance is sufficient to cover the cost of accommodation in your new country, as it may be considerably more expensive than what you're used to back home. Fast forward to the present day, and the number of these contracts on offer is dwindling. This has meant that the total cost of an e… However, the key to having a successful expat career is bargaining for the right employment package. Moving to developing countries, such as some parts of, Of course you should also consider the other standard benefits you will get with your employment package such as annual leave, which may differ from home, and, How to Negotiate for a Better Expat Package, You can find out more by connecting with other expats online through blogs, forums, and social media communities, including these two groups on LinkedIn -. Moving to developing countries, such as some parts of Africa or Asia, can be considered 'harder' and less convenient because of issues around the local infrastructure, security, economy, healthcare, and other factors such as crime and pollution. When negotiating an expat package, take the time to mull over what is most important to you and choose those things to negotiate for. According to research by Statista, expats living in San Francisco take home more than USD 200,000 annually, demonstrating that many expats do earn large salaries. Basically, this agreement helps ensure that you aren’t forced into paying into two systems when clearly you will only retire under one! News : update for the Cost of Living 09/2020 > 252 cities – 126 countries There is still a perception that expats receive packages, as is the case in Singapore too, but given the recent market downturn, many expats are actually willing to take a local package just to secure a role or stay in Hong Kong. There is a lot of flexibility to an expat package and the HR may be able to work out a mix that fits both parties. With its former links to the UK, pop culture influences from the US, and thriving expat population, Hong Kong is a truly international, welcoming region. Expat relocation package involves understanding your needs and how they can be negotiated in an enforceable binding agreement in your host country. A typical expat package will often include travel costs for you and your family to visit loved ones back home. This will ensure that you remain eligible for any benefits or r… Make Sure to Negotiate Your Relocation Package! However, the key to having a successful expat career is bargaining for the right employment package. If your company will be reimbursing you for all of your costs, you will not be eligible to deduct those expenses on your US taxes. You may also be able to request other sweeteners to help you adjust to life in your new home, from gym memberships to local language courses, or even access to private members clubs. The survey questions expats living in countries around the world and gives an accurate report that potential expatriates can use to understand how their financial situation might change, for better or worse. Our comprehensive guide on expatriate package explains various segments of an expatriate package. Finally it's important not to lose sight of the bigger picture, as there is much more to moving abroad than high salaries. Expat relocation package involves understanding your needs and how they can be a dollar-for-dollar Credit for expatriate. For basic utility services and domestic help international assignment there are often many issues in!, in Hong Kong are not the highest in the region you may also be secured if possible in of! 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