Expat deals

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  1. #1

    Join Date
    May 2008
    Posts
    49

    Expat deals

    Hi

    What sort of thing should my hubby be trying to negotiate into the expat deal - having never lived
    abroad we are a bit naive?

    Thanks


  2. #2

    Join Date
    Apr 2008
    Posts
    258

    Well I think you guys are doing pretty well so far with your housing budget, but other things to look for on the contract might be paid flights home every year, full medical insurance for the whole family, education costs for the kids, double check if your housing allowance is to cover not only rent but all bills etc., maybe a local language course for both of you, perhaps club memberships, then just normal contract details, holidays etc.

    Best of luck.


  3. #3

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,217

    You might also be looking at tax treatment - depending on where you are coming from you could be getting quite a hefty tax bill since you seem to be looking at a package over many hundred thousand US$ per year you are way over the US overseas earnings exemption, so if you are US citizens you will effectively get taxed twice. You probably should get that mitigated by the employer, and also make sure that they pay for the tax advisers to sort out all the paperwork for you.

    You could also try to get them to pay any mortgage you have on a property in your home country while you are away.

    But it does rather surprise me that someone whose employer thinks they are worth a housing allowance of HK$130K/month (which is a HUGE amount of money, and presumably your salary, bonus etc is many times that) is yet sufficiently naive to need to rely on internet forums for advice on this sort of stuff. For a small fraction of one month's proposed housing allowance, never mind other income, you could get a professional adviser to negotiate and sort all this out for you - I thought that was the way that seriously rich people like yourselves work?


  4. #4

    Join Date
    Sep 2007
    Location
    Mid-levels
    Posts
    82

    we negotiated pretty much everything mentioned by mumto2.

    in addition, the company should take care of your home in your home country - ie. hire a prop mgmt company to manage & lease out your home in your absence. the prop mgmt co will also take care of prop taxes and any other bills related to the home. from the sound of things though, i'm sure this will be included.

    if you're not sure, just ask for it. we weren't sure what to ask for either but decided to ask for everything. although we didn't get a few things, it was worth asking. good luck to you!


  5. #5

    Join Date
    May 2006
    Location
    on the road again
    Posts
    927

    I know some people who's company pays their electricity, and some others who have a car and petrol, others language lessons. You could also ask for membership to a club...
    The trend in my view is to get less and less, but it won't hurt to ask!


  6. #6

    Join Date
    May 2008
    Posts
    49

    Especially for PDLM

    Can I just say that I have not in anyway been trying to offend anyone and probably I am very naive at quoting our monthly housing budget. Yes my husband does have a good job but the whole reason for joining the expat forum is to gather information and find out if our company is offering the same sort of deal as other large financial institutions.

    Thanks to all those who replied - It is much appreciated. When we move out I will definitely
    be keeping on-line and hopefully giving a helpful
    and unbiased opinion to those who are looking to
    move out to HK like the vast majority of replies
    that I have had.


  7. #7

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,217

    Don't misunderstand me, I am trying to be helpful, but I feel that there are very, very few of the hyper-rich such as yourselves who hang out in forums like this. I'm really not sure that you will get much relevant advice.

    The vast majority of people here have total incomes less than half of your housing allowance alone so we really aren't able to comment on life in the rarefied zone in which you will mix. We know that it exists - we see those palaces that people like you live in, we see you being chauffeured around town to do your shopping, and so on. But I really feel that very few people on this forum can offer much advice that is relevant to your lifestyle.

    For what it's worth, guessing that your total income is at least HK$500,000/month, that is 50 times the average income for Hong Kong. It is more than 10 times the median income for readers of this forum (see the poll on salaries done here a little while ago). Your housing allowance alone is about 3 times the total median income of readers of this forum, and about 10 times the median rental paid by those same readers.

    (For what it's worth, I like to feel that I'm pretty comfortable here, but my total income is less than your housing allowance.)

    Last edited by PDLM; 28-05-2008 at 12:57 AM.

  8. #8

    Join Date
    Jan 2007
    Location
    Southside
    Posts
    656

    PDLM is right.

    I guess when you're looking to buy a ferrari you don't ask the guy that bought the Combi for advice.

    Surely you have a relocation company working with you? They should be giving you an induction before you even leave the country and when you arrive you should be put into serviced apartments whilst you look for a place in an area that appeals to you.


  9. #9

    Join Date
    May 2008
    Posts
    49

    Draw a line under this

    Can we draw a line under this ................wish
    I had never mentioned bl**dy housing allowances.

    No matter what I say I will be shot down in flames
    so no more discussions me thinks.


  10. #10

    Join Date
    Sep 2006
    Posts
    74

    don't get discouraged

    Sorry about your experience. Not sure how to respond. Try not to take comments, especially negative one, too seriously.

    I am personally of the opinion that anyone can ask and should get information from this forum, whether looking at a $20K monthly package or $300K monthly package. If we don't know, we simply say so. Just my opinion.


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