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Another salary question: Is 40K enough for two?

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  1. #41
    Quote Originally Posted by normad:
    Pettswood, we have a studio apartment now and the 260 sq. ft includes toilet and kitche(tte) and a narrow hallway.
    You should be able to get a slightly larger unit in HK for HK$10K per month. One bed flats would be around 500 - 600 sq ft and probably measure internally around 400 - 480 sq ft depending on the age of the flat.

    Depending on how long you plan to stay in HK. There are many ways to deal with accommodation. There is the furnished service apartments but they are dearer and I am not too sure if there is a large choice for a $10K flat. This is convenient and probably something you have to use in the first month or two. Otherwise you need to look for flats to rent. In this case you have to be patient and probably have saved up a bit. This is because you have to pay for agent's fee (half of a month's rent) and two months deposit. Furthermore, the norm in HK is to let out flats UNfurnished (but often with full washer, gas cooker and fridge/freezer), unlike in Europe (or at least the UK). We were very lucky to find our first two flats that were fully furnished, the first one was let out like that but naturally there was no coordination for any bits and pieces in the flat. The second one was due to the landlord relocating and that was a superb flat. However by the third flat we wanted to rent basically the area (a new development) did not offer any furnished flat at all and we started to accumulate things. Basically if you want fully furnished flats you have to try service apartments or your luck. If you want to rent unfurnished flats, you need to think about the investment.

    Hope this helps and although it sounds complicated, don't be discouraged, Flat hunting is fun!

  2. #42

    Join Date
    Dec 2005
    miami and hong kong

    hey normad
    i am not sure if you misunderstood or - ummm i mean - you CAN actually save in hong kong! =)

    for transportation- if you live in DB, or ANY of the outlying islands, it will cost you a fortune. if you live in the NT, it will cost a lot too. the figure i gave you was for 2 people. if you live along the MTR line closer to where you work, then you can probably save A LOT for transportation. no i dont use taxi all the time.

    5K = for people living in DB, hong lok yuen, Stanley, etc....
    2-3K = for people living a lot closer to work.

    my parents live in fanling now (in the boonies!) they spend around $40/day/pp = $1200/pp a month + occassional taxi = $2000 per person. x 2 = $4000

    does your husband have a degree? speak fluent english? he can probably find a part-time job teaching english/french (if he speaks it) easily. (for the time being). most of the places i taught paid me $200- $350 an hour.

  3. #43

    Travelling costs

    I live in DB - and buy the 50 tickets on the ferry for $1100.
    I work in Wyndham Street and walk to work - 10-12 mins. So no cost there.

    $14 a day for bus costs in DB if you take the bus 4 times. =420 PM

    Taxi and MTR costs - unplanned - another $200

    Total around $1,720 a month.

  4. #44

    Post house rents

    Are the house rents 0f HK$10,000 etc monthly or yearly rents?

  5. #45

    Join Date
    Apr 2003

    HK$10K would be monthly.

  6. #46

    Join Date
    Apr 2005
    Sai Kung

    the HKD-USD exchange ratio is.... 1USD=7.7-7.8HKD.... so, $10,000/month is around $1200/month USD

  7. #47

    Join Date
    Dec 2005

    A few legals

    The tax here is low compared to Europe, so you will have a lot more disposable income on 40K - don't forget that you still have to pay tax though at the end of the year - there is no PAYE.

    If you get the work visa - it means your husband will get a dependant's visa. He is not entitled to work on a dependants visa.

    Someone mentioned about part time domestic helpers. Most of these are also illegal, as the Immigration Department will not issue part time employment visas for domestic helpers (though a few may be permanent residents - which is OK - but not likely, as they can get better jobs if they have proper papers).

  8. #48

    Join Date
    Jan 2006

    About the visa matter, if I get a working visa, my husband and baby are on vistor's visa, is there anyway to change his visa so he can also work in HK. Is the 40K everyone talking about before or after tax? I was told there is a 15% tax and 5% mandetory retirement fund taken away from salary..... So that leaves only 80% of the disposible money, right?

  9. #49

    Join Date
    Jul 2005

    what nationality are your family??
    if you are south east asia,it may be ok to adjust to hk life with 40K.

  10. #50

    Join Date
    Jun 2005
    Hong Kong
    Quote Originally Posted by ariari:
    if I get a working visa, my husband and baby are on vistor's visa, is there anyway to change his visa so he can also work in HK.
    They would need Dependent Visas in order to reside here, but those do not allow him to work. He may of course try to find an employer to sponsor him for his own Employment Visa, but that is the more or less the only way (untill you have lived here 7 years at which point you get permanent residence and the right to work).

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