Hello all,
We are considering a move to Hong Kong from Virginia and have many many questions! Apparently it will be up to my husband to negotiate his salary and benefit package so we want as much information as possible.
We're told that there will be a housing allowance-we would be looking for a 3 bedroom in a community like DB or Repulse Bay. Are there any other communities worth considering? We will probably not bother with a car so we need to be convienent to public transport.
Our children are 7 and 9 (2nd and 4th graders) so we will also need one of the international schools. Would tutition be something he could negotiate for? He would be working for a shipping company, so I am not concerned with moving personal belongings, that will be taken care of!
Also we have two cats, one of whom is a diabetic, that I really hate to abandon after 12 years...but how is veterinary care in HK? If they even survive the flight!
Can he also negotiate flights home as part of a package? I guess almost anything could be negotiated, but we really feel like we're going into this blind and don't have any idea what's reasonable. We just don't want to end up not asking for enough and ending up with a lower standard of living, and no savings.
He will also have to choose whether to be paid in HK dollars or US. Any thoughts? We have been told that being paid in HK will mean a disruption in SS payments, but that for a 2 or 3 year stint it won't amount to enough
to reduce retirement benefits.
We also are not sure what to do with house and cars? Sell them? We thought about renting our house, but I guess if we are not paying rent in HK we really wouldn't have to. I just don't want to come back to find our house trashed and not kept up. Be nice to find a housesitter to take care of cats and house for 2 years!
Any advice anyone can give us would be much appreciated!
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08-07-2006, 12:35 AM #1
Possible move to HK
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10-07-2006, 10:01 PM #2
If you scan through these threads, there are a lot of answers to your questions. But here goes my 2 cents--
1. Repulse is on HK Island, DB is not. Stanley is near Repulse. Where will his job be?
2. Yes on the tuition. My company pays it.
3. No idea on the vets. But I have seen those threads in here.
4. Yes on the flights home, although I only get one and that seems to be the trend. Ask for the business class money equivalent for the flight home (assuming you fly business over here). That way you can fly back and forth in coach a few times for the money.
5. I am being paid in US dollars. HK dollars would somehow bother my pension as well as social security.
6. Cars--you can't store them for long periods of time, so if you can't find someone to take care of them you will have to sell them.
7. House--sell it unless you find someone you really trust to keep it for you. I am against renting the primary residence. Really need someone to look in every once in awhile (depending on your neighborhood) maybe run the plumbing and turn on some lights while they are there, plus maintain the lawn and keep an eye out for obvious maintenance problems.
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11-07-2006, 04:02 AM #3
Thanks for the information. His job will be in Central. The American International School is in Kowloon Tong, but I haven't heard real encouraging things about living there. Ideally if they get into AIS we'd want a reasonable commute.
The problem is his company in general does not send Americans overseas-he'd be the first, so there is no precedent for an expat package. So we are pretty much flying blind, trying to get as much information as possible on what others typically receive in a package.
Thanks again!
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11-07-2006, 08:30 PM #4
Same thing with my company, I am the first. My company spent some time talking with other companies before coming up with their package. Don't forget about medical insurance and make sure it isn't the kind that makes you pay up front. And who will do your taxes?
Originally Posted by want2go:
While I am listing package possibilities: a cost of living adjustment; housing deposits (will be equal to 2 to 4 months rent); storage of possessions left in US; emergency leave policy; language classes for both of you; relocation help; free money transfer from US to HK; outfitting allowance for new house/apartment; guarantee against large currency fluctuations; transportation expenses or vehicle; cell phones/blackberry for both of you. I have all but the last 2, but have friends expating in Poland and they have the last two.
The only way to get from Repulse/Stanley area to Central (using public transport) is by bus/taxi. No subway. There is a way to ferry from DB.
There are a handful of expats in Beacon Hill in Kowloon Tong, as well as Parc Oasis area. Beacon Hill is expensive (like 40-60,000 HK/month), but it is about 5 minutes walk to Festival Walk (large mall plus subway and train connection point). In general, more expats in Repulse/Stanley/DB than Kowloon Tong.
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11-07-2006, 09:32 PM #5
Medical insurance is important. You may want to get a policy that covers treatment in HK and in the US. You'll probably find the monthly rates will be higher than you are used to in the US, because the insurers are not able to strong arm the caregivers into lower prices like they do here in the USA (somewhat)
Request a stipend (in cash) for knick knacks. A can opener, a toaster, a garbage can, a corkscrew--things that you'll forget to bring and have to replace when you get to HK.
If you are planning on returning to the US, I'd keep the house. If you are in NoVa it will probably just keep increasing in value. You may want to find a management agency to help rent it. I had pretty good luck renting some properties with some 'senior brass' military types who came to the DC/VA region on a two-year stint. They generally have families (or are empty nesters) and want a place that is pretty decent (better than base housing). You can find good renters--it just takes a bit.
Or you can just leave it vacant. We did that for six months, with a friend coming by to check on things every so often. Luckily it was winter so we didn't have to cut the grass.
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11-07-2006, 09:35 PM #6
Oh, dollars.
Get paid in the currency in which you will have the most expenses over the next two years. If you are making mortgage payments of X,000 US and NOT paying rent in HK, then it is pretty easy to see that the majority of your budget will be in USD not HKD.
We set up a montly wire with our bank so we had XX,000 HK dollars each month to play with. You might also want to talk to your bank to see if they have some set up where you can get 'free wire' transfers. I'm with Citibank (which is normally $20) but we got a "private account' with them and got all of our transfers for free (which saved us a few hundred US by the end of it all).
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12-07-2006, 08:08 PM #7
Did you set that up with US Citi or HK Citi? Originally Posted by penguinsix:
