Most of the wealthy people leaving Hong Kong are Chinese nationals who are leaving Hong Kong to places where china doesn't control like Canada, Singapore, UK or Australia. There is very little data to prove that western wealth has been leaving Hong Kong. In fact, the number of foreign incorporations in Hong Kong has been increasing over the past few years, not decreasing. Don't believe everything you see in the news.
Everyone reading it and thinking about getting residence in Hong Kong: know that since NSL in 2020 (National Security Law) if you have libertarian views you could be arrested. I'm honorary Hongkonger born in Europe and I know many Hongkongers, incl. leaders and activists of Hong Kong Independence Movement, so I know what I'm talking about and I'm serious. Yes, it's true that being a white foreigner with foreign passport makes one more safe from NSL, but theoretically if someone reports you to the government for saying anything anti-government, incl. anarchist, libertarian, classical liberal, democratic or republican ideas, you could be arrested. Whole city is in mental lockdown in which everyone who is not pro-government and pro-CCP is fearing saying what they think as they could be arrested, and practically whole civil society in Hong Kong was removed. I loved this city and I love Hongkongers as they're my people, but - like my friends from Hong Kong opposition - I cannot go to Hong Kong without being in fear of getting arrested until CCP takeover of Hong Kong continues.
So who have been charged under NSL simply for what they have said? Can you give me some names? None. Applying your own logic, I would never step foot on US soil since it has significantly more stringent NSL and a worse rule of law than HK. In Canada, people got jailed for starting protests and lost their jobs for speaking against the government. Now that's truly scary.
@@ailiton What kind of gaslighting is this? Things have certainly gotten worse in Canada and the US; you'll get no argument from me there. But your assertion about HK is manifestly absurd and an insult to the countless people who have suffered so bitterly.
@@tdexter4959 Why dont you answer his question instead of making empty assumption based on the lies spread by your typical western MSM and those CIA Neocons assets based in HK like Jimmy Lai?
Capital and talent exodus out of HK for a reason. HK is caught in the middle of geopolitical tensions. The National security law is draconian. It is risky to invest in HK and China.
@@Ryanwong.6688 Well I did, the US is egging China to start a war (just like how it did with Russia) and have been doing everything in her powers to sabotage HK and China in every turn. The US and western world is already in the hands of the Neocons who just loves nothing but war war war and war and the western "democracies" have proven itself to be an utter failure and her people who claims to have access to open and free sources hence they make more inform decisions, have time and time again be led to one stupid war after another, hence NSL or Article 23 is the only logical thing to do, regardless of one opinions of the CCP / CPC.
Most running away from HK mostly to UK if they can. Has nothing to offer for lifestyle either, its ok for a weekend there, but not to live. Singapore even though very expensive or even Malaysia much better.
Try keeping up with events. Many articles have been featured that the foolish liberals who left HK for the UK have huge regrets and, as Andrew said accurately, are keen to return - but they cannot, good! The UK is in a long deep recession and has runaway price inflation too like the US, but HK has little inflation. Most in the UK are miserable and all there who moved from HK want want to go back. HK net population growth in 2023 was its largest in six years! Fact.
@@EGO0808 Malaysia's economy is in the ditch. Also it has high taxes, a collapsing currency at 50-year lows, plus the awful new 30% remittance tax on expats who bring any money into that country. A terrible nation, period.
I grew up HK back in the early 90s. It is sad to see how the CCP has turned it upside down though. It will take a long time for it to regain the prominence that it had.
Thinking Andrew may be a bit nostalgic about the good old days. Under the new regime, Hong Kong appeared to simply have changed, retaining only the shell of its former glory. That said, the information is appreciated. Perhaps as part of a possible, well-structured, plan F...
To be fair, I think situation in HK challenging, but this is due to failure to rebound after COVID (And same in Mainland), not about whatever 'brain drain'. There's an actual surplus in talents in banking sector today, given the uncertainty, and also because of geopolitics: Foreign banks cutting HK. However, I think in terms of personal security, it's improved after the Black Mobs. In legco, yea, now we lack actual opposition on issues such as "Tomorrow Lantau" (HKSAR literally pour tax money into the sea). Financial-wise, China is (will soon) be easing, I think selling now be like selling BTC in Jan 2023. Those who don't look a few steps ahead will always sell at bottoms. Primary worries is actually NASDAQ printing all time highs (Concentrated in Magnificent 7),what will happen after the election year on mid term basis. And what will happen in ten years given Americans already paying interest with a third of their GDP. HKD is pegged to the wrong currency and ten years can pass quite quickly. Also while West mostly would love see China collapse: I think while they will ease in attempt to stablise their financial/real estate, but their policy is actually pivot more towards Manufacturing, not to repeat West's mistake in the first place (De-industrialization).
Funny thing, Cuba has a residence by investment program so to speak. There is a small amount of properties available to foreigners on the open market and if you buy one you can get residence,
And your business is what? Movement against China? Because otherwise HK citizens live very free lives around here, and pay very low tax. If you compare police brutality, personal safety, financial liberty: All three counts excels US.
@@normanfung7124 thats old HK data, when it was independent. Now you are literally depending on the whims of your local dictator. Laws can change in literally minutes, and you have to move your business again or risk unfair fines like alibaba. Lets not mention if you're a citizen of a country boycotting China...
Personally I don’t think it’s that risky, the risky part is that there is no road to naturalisation. I think it is quite likely that you could be affected by a future conflict between China and your western country of origin. I mean you could reside there for 20 years, then there comes a conflict and suddenly your assets get frozen. I think you need a neutral passport if you want to seriously settle down in Hongkong, like one from Latin America or Africa. I don’t even even think China will start the troubles, but I can see western countries sanctioning Chinese nationals at which point China ofc would reciprocate and sanction western nationals. Anything from seizure of assets to cancelling your residency would imho be in the cards.
@@nomadcapitalist well you do a disservice to your motto “go where you are treated best” by recommending anything to do with the CCP! I’m glad this isn’t 1939 you would be talking about great properties available in Germany
@@nomadcapitalist thank you for the info, having a HK passport is extremely useful if you have deep tie in China and wants to periodically live there. Applicable for many Chinese without a Chinese passport.
Yes you should run to America where 30% of GDP is expended just to keep up with interest of current $30tn national debts. Not to mention their impeccable human right records: Domestic and Foreign
The expiry of one country, two systems in 2047 inspires no confidence. China has said nothing about what they plan to do besides 'integrate' Hong Kong into Mainland China. Hong Kong will become a shadow of Shenzhen rather than Shenzhen being a shadow of Hong Kong for decades.
in HK in front of me, the police stopped a bunch of teenagers in Central for no reason and took their phones asked their passwords to check their phones. It happened at least 3 times in 2 months....I was literally in shock, this is not happening even in Beijing. It was my favorite city in Asia by far until the pandemic started and the CCP took over. Even my foreign friends in HK are afraid to criticize the guv. while out in a restaurant...if you want to pay millions to live there...Good luck.
The largest non-war / non-famine related mass migration in recent times. Including my extended family and myself. Those who must remain have ‘migrated’ their assets and hold contingency passports. Great for money laundering though, lots of shady Russians / North Korean / Myanmar / Iranians moving in these days. Interesting neighbours for sure.
As long as you only have CCP status (i.e. a full Chinese passport) as anyone with BNO status or who has a BNO passport is prohibited from leaving HK without a Chinese passport and official written permission as declared by China! This is why the UK told those with HK BNO passports to if possible get a Chinese passport and leave, or, if out of HK to go straight to the UK and be given a special visa open only to HK BNO status holders.
It's decent now, but there's no point trying to naturalize and getting one because it won't exist after one country, two systems is finished in 2047. After that Hong Kong will be 'integrated' into China, meaning your 'decent' HK passport is gonna turn into a lousy Chinese passport.
When Japan’s automotive industry tanks because they are not taking the future of EVs seriously they will drag their entire economy down with them. Afterwards there maybe some opportunities so I’ll check back in the next decade (early 2030s)
I think what hasn’t been mentioned is that geopolitics will affect The Hong Kong Dollar more than anywhere. There has been threats to the peg (USD/HKG) by the previous administration. That will be catastrophic to Hong Kong’s economy (and Beijing is aware of this, and understands how important is Hong Kong from an economic point of view).
Very few people left Hong Kong. The population is still the same as it was in 2020. There was a drop in 2022 due to COVID restrictions. I used to work in HK during 2005-2010, and I recently talked with my old boss who is still there, and he told me many things had changed (without providing details), but when I asked what had changed for him, he told me nothing changed... I also happen to own a company in Hong Kong (no staff, and I don't live there), and nothing has changed, it's still the same system as 5 years ago (for now).
Don't forget that China declared that no one could leave Hong Kong under the Hong Kong Passport (BNO) so the UK had to get those people to get Chinese Passports and then give them UK visas on arrival in the UK. Guess what, China wouldn't give passports to those wanting to leave Hong Kong and who had the Hong Kong Passport (BNO). Bit hard to leave when you literally can't. The only ones who fled to the UK were the ones who weren't at the time in Hong Kong, those who went to the UK had the following happen: 1. They were on holiday with their family so they're all safe but can't ever return to Hong Kong or China without getting arrested unless the whole CCP disappeared and democracy took over 2. They got to safety but their family are suffering reprisals How do I know this - I know people who were able to flee to the UK when the National Security Law and the declaration that Hong Kong Passport (BNO) were deemed invalid by China, both happened. Just because things aren't spoken about due to fear of reprisals by the authorities, doesn't mean they aren't happening.
@@matthewnirenbergyou forgot to mention that a huge portion of HK population has always had foreign passports. As an Italian, I lived in HK for many years and made a lot of local friends. I'm not in a rich people circle but a lot of these people had either Australian, Canadian or US passports. In addition to their HK passport. I was amazed by how many had actually dual citizenships.
Since the CCP have taken over Hong Kong and brought in their insane "National Security Law" which they claim applies in all countries of the world (sorry, China's authority ends at their border), why would anyone want to risk getting in "trouble" because you rejected a business deal and then get taken away under their "National Security Law" because you're in Hong Kong. Growing up, I was there a lot whilst my father attended medical conferences, it was wonderful under British Control, Victoria Peak, Ocean Park, the Ferry, Tsim Sha Tsu was always great and really came to life at night. Sadly Hong Kong is too much of a risk due to CCP control, their insane "National Security Law" and the fact that nothing is certain as they can't even honour their own word of when they'd impose their will on Hong Kong (was not supposed to be until 2047)...
Completely agree. 100% worth regular visits, from Lama Island to TST and Soho/central and LKF to Mong Kok I miss Hong Kong but it’s currently occupied by stupid and unsafe governance. I wouldn’t never live there.
It’s interesting to see everyone’s take on this one also saw Japan rolled out a 6 month digital no mad visa.I wonder Japan is doing this because more Japanese people are leaving Japan so they are trying to bring in foreigners.
Probably true: “Dying vs leaving”. That aside, the requirements for the digital nomad visa are not high for people in the solid upper income class (maybe a bit low) but the requirements are high for the average income earner , maybe around double Japan ‘s average income. So I guess the goal is to bring wealth or at least more money into Japan.
HK is still an amazing place (my favorite large city in the world), as long as you are not a strong political dissident, but that's the case for most countries in the world outside the West. US media and the Financial Times greatly exaggerate the issues as I have lived here even before COVID and saw the shift on the ground. I recently debated between HK, Dubai, and SG to start my business and chose HK for various reasons. No other place offer what HK offers, especially for what I do (finance related). Would I buy real estate or put all my money into HK bonds? Probably not. But HK is with SG the easiest places on earth to invest from (you can invest all around the world and in USD, EUR, GBP, and even BTC/ETH etc) so it's not like you are tied to investing locally (in terms of ETFs or banks), unlike many other countries.
The place has no future though. After one country, two systems is finished in 2047, it will be 'integrated' into mainland China. After that you wouldn't even be able to use Google, so enjoy the freedom while you can.
I lived in Hong Kong on and off between 2004-2014. It was a great place 20 years ago, top of all the freedom index charts. It honestly felt that way living there. Everything changed in 2015 with the Americans attempted colour revolution, and another in 2019. Both failed but resulted in massive CCP clamp downs on all the freedoms Hong Kong had previously enjoyed, not to mention what their government is capable of when it comes to covidian prison camps. It is not the same place anymore. You can't even wear the "wrong" -coloured shirt outside lest be targeted by the opposite shirt crowd. No thanks.
I am a banker in Hong Kong and was born in Hong Kong. I work with ith the last CIES. Quick pros and cons Pros, 1. very low tax compared with the rest of the world. 2.Well developed and everything is convenient. Cons 1. CCP is watching you. Cost of living is very expensive, so this is the payback of the low tax. 2. The market is extremely bearish like real estate, shares and bond etc. 3. Very unfriendly to crypto 4. Asian education system, your kids will not happy with this. 5. Tiny living area. I am living in 36sq meter apartment with my parents and I feel better than other Hong Kongers. 6. The saving of the government is low and i doubt if they can hold the currency with USD There is a low cost way to get the residency now. Like starting up a little business even online business and tell the government that you are eligible in the high talented programme. In a short time your passport will be granted. So Andrew please assist me to get another passport 😅!!!
Hong Kong is dead since its takeover. There is a reason they’re opening this up as they’re now desperate including the mainland for the investors. Was good years ago but no longer
$3 million to live in Hong Kong? Sounds great if you’re wishing to target wealthy successful people who have had major tax disputes in their past, yet are still relatively young… eg, in their thirties. Have you thought about Lionel Messi for example? … Yep, Perfect.
Hong Kong is part of China. Like Taiwan. And China is a Superpower. Unlike the West, she hasn't developed the habit of sanction your arse, if you get to wrong side of politics. Hong Kong also much lower tax rate and what they tax you, they don't spend on Wars.
@@ARUchannel1 No I didn't forget but you have a less bellicose government in Vietnam. Vietnam doesn't throw its weight censoring and intimidating its citizens and bullying neighbouring Asean countries. Big difference between the Beijing Dragons 🐉 lol 😅
I'm a big fan of Hong Kong and would absolutely love to live there. But let's be clear about this new program: Your involvement will be funding the CCP and all of their predatory actions around the world.
@@kingsleymarion For the record, I'm very unhappy about funding many things the US is doing. But there is a hierarchy of evil, different amounts and degrees of trouble. It's just sloppy thinking to equate all bad governments.
@@kingsleymarion For the record, I'm very unhappy about funding many of the things the US is doing. But there's a hierarchy of evil, different types of problems - different degrees of corruption. It's just slopping thinking to equate all bad governments.
@@Zergcerebrates On the contrary. That's exactly what I *am* saying. There are many countries engaged in evil or corrupt practices of some kind or another. I'm just pointing out that there are obvious distinctions among them. Some are much worse than others. Running prison camps to enslave an ethnic minority (as China does) is hard to top.
Ppl looking at HK from the outside and moving there for the first time won't know how good it used to be and will probably find it okay (if they haven't lived in Singapore).
1)Capital gains have always been tax-free, but the Financial Secretary has recently considered imposing capital gain tax in the future. 2)High stock yield is casued by plummeted stock prices. If you invested in those property stocks, you are in for a treat as they are not likely to recover for many years. 3)It used to be a thrilling expereince banking in HK. Now, you will be asked why are you sending large amount of money out of the city, and the banks can put your transfer on hold for days PENDING for some more supporting documents. 4)Most importantly, you never know when the Sino-US relations will turn sour. Have you seen how US has used the SWIFT system against Russia? Can you image your money stuck in HK becuase it's financial system got cut off from the international financial system?
Hong Kong is not such a great place like it used to be. The passing of the National Security Law definitely affected the freedom of HK a lot. Right now, the government has been installing a lot of surveillance cameras making it like most big mainland Chinese cities. I'd say do your research before thinking of going or investing in HK.
Reminder that Hong Kong citizenship is only good until 2047, after that Hong Kong will be 'integrated' into mainland China, meaning your Citizenship will become Chinese (One of the worst passports in the world for Visa Free, and bans dual Citizenship without exception)
I just cant wait when Hong Kong and Macao is fully absorb into the new China Greater Bay Area Project and become the Global Center of Business for Asia.
@@chion918 that’s actually not true. The capability is there the difference is the CCP not only does it and will use the intel against you. I’m not interested in a CCP apologist reply so save your fingers
Gotta laugh at some of the US-propagandized peasants commenting herein. According to the expat American Billionaire techie Erik Townsend of Cisco networking fame (retired) and now Macrovoices, this is a FABULOUS program he previously and will again participate in!
Hong Kong would have been extremely attractive 10 or 20 years ago. But risking so much money in a territory falling progressively in the hands of the Chinese communist party is not smart . And I won't bet, if things get dirty for some reason, it will be that easy to move the money outside of the country. Better investing somewhere in South East Asia which is booming and less risky. Many people left Hong Kong for good reasons. Hong Kong will be fully Chinese in 2047 after the transition ends and there is no coming back. The "one country 2 systems" will probably come to end.
Pls look at the escalation of us-sino tension over Taiwan. There could be wars to erupt between USA and china. How could you invest money in Hong Kong where is the pearl at the kiss of dragon?
A lot of people are saying how bad Hong Kong is because the CCP took over but no one's saying you have to live there. Plus, look on the bright side, that just knocks Hong Kong out of the Western sphere of influence. It's a great place if you're looking to hold gold or silver in case of inflation or de dollarization. Also because it's more under China now, the US has less authority to sieze or freeze your assets. Like I said you don't have to live there but if countries are leaving the Western sphere of influence I see that as a win in my book.
I think there's a fine line between out of the western sphere of influence and joining the eastern sphere of influence. Most of the people here are looking for a fine line of neutrality, not joining the other side. The USA does some bad things and China and Russia does some bad things. But from the perspective of someone that is looking for more personal freedom, China is probably a step back from the USA because they plan to have huge control over your life.
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Never wise to put your money in place where people are running away from
exactly why I wouldn't move to California
Most of the wealthy people leaving Hong Kong are Chinese nationals who are leaving Hong Kong to places where china doesn't control like Canada, Singapore, UK or Australia. There is very little data to prove that western wealth has been leaving Hong Kong. In fact, the number of foreign incorporations in Hong Kong has been increasing over the past few years, not decreasing. Don't believe everything you see in the news.
Everyone reading it and thinking about getting residence in Hong Kong: know that since NSL in 2020 (National Security Law) if you have libertarian views you could be arrested. I'm honorary Hongkonger born in Europe and I know many Hongkongers, incl. leaders and activists of Hong Kong Independence Movement, so I know what I'm talking about and I'm serious. Yes, it's true that being a white foreigner with foreign passport makes one more safe from NSL, but theoretically if someone reports you to the government for saying anything anti-government, incl. anarchist, libertarian, classical liberal, democratic or republican ideas, you could be arrested. Whole city is in mental lockdown in which everyone who is not pro-government and pro-CCP is fearing saying what they think as they could be arrested, and practically whole civil society in Hong Kong was removed. I loved this city and I love Hongkongers as they're my people, but - like my friends from Hong Kong opposition - I cannot go to Hong Kong without being in fear of getting arrested until CCP takeover of Hong Kong continues.
This is bullshit. America has more Draconian securities law. You're just anti China.
So who have been charged under NSL simply for what they have said? Can you give me some names?
None.
Applying your own logic, I would never step foot on US soil since it has significantly more stringent NSL and a worse rule of law than HK. In Canada, people got jailed for starting protests and lost their jobs for speaking against the government. Now that's truly scary.
@@ailiton What kind of gaslighting is this? Things have certainly gotten worse in Canada and the US; you'll get no argument from me there. But your assertion about HK is manifestly absurd and an insult to the countless people who have suffered so bitterly.
what a shame, Hong Kong used to be the pinnacle of individual freedom, communist ruin everything they touch
@@tdexter4959 Why dont you answer his question instead of making empty assumption based on the lies spread by your typical western MSM and those CIA Neocons assets based in HK like Jimmy Lai?
Geat place to live if you want your doors to be welded down during another lock down.
Exactly. Or be put in what is virtually a prison.
😂😂😂😂
Doors were never welded in HK.
@@Zergcerebrates next time...
Capital and talent exodus out of HK for a reason. HK is caught in the middle of geopolitical tensions. The National security law is draconian. It is risky to invest in HK and China.
American has the most Draconian securities laws. You're just anti China.
If the HK NSL is draconian than what do you call those from Western (fictional) "democracies"?
@@ibcytpls put hk into the context of the rising tension of us-sino war which is probably to erupt from the coming few years.
@@Ryanwong.6688 Well I did, the US is egging China to start a war (just like how it did with Russia) and have been doing everything in her powers to sabotage HK and China in every turn. The US and western world is already in the hands of the Neocons who just loves nothing but war war war and war and the western "democracies" have proven itself to be an utter failure and her people who claims to have access to open and free sources hence they make more inform decisions, have time and time again be led to one stupid war after another, hence NSL or Article 23 is the only logical thing to do, regardless of one opinions of the CCP / CPC.
Thus Crypto, geopolitics free democratic money, even for the anti-China crowd.
Most running away from HK mostly to UK if they can. Has nothing to offer for lifestyle either, its ok for a weekend there, but not to live. Singapore even though very expensive or even Malaysia much better.
Exactly, Malaysia. Set up the business in Labuan and live in KL. Less costs, less taxes and way more quality of life.
Try keeping up with events. Many articles have been featured that the foolish liberals who left HK for the UK have huge regrets and, as Andrew said accurately, are keen to return - but they cannot, good!
The UK is in a long deep recession and has runaway price inflation too like the US, but HK has little inflation. Most in the UK are miserable and all there who moved from HK want want to go back.
HK net population growth in 2023 was its largest in six years! Fact.
@@EGO0808 Malaysia's economy is in the ditch. Also it has high taxes, a collapsing currency at 50-year lows, plus the awful new 30% remittance tax on expats who bring any money into that country. A terrible nation, period.
People running away from USA UK Canada because of conflict with China Russia. USA preparing if u didn't KNOW
May be true but they're not going to HK. Get real.@@MJWINNER_Sketchbook999
I grew up HK back in the early 90s. It is sad to see how the CCP has turned it upside down though. It will take a long time for it to regain the prominence that it had.
its gone forever .. the downward slide will continue.. i want to go visit to see the last of what it was .. it was a shining jewel !
Thinking Andrew may be a bit nostalgic about the good old days.
Under the new regime, Hong Kong appeared to simply have changed, retaining only the shell of its former glory.
That said, the information is appreciated.
Perhaps as part of a possible, well-structured, plan F...
To be fair, I think situation in HK challenging, but this is due to failure to rebound after COVID (And same in Mainland), not about whatever 'brain drain'. There's an actual surplus in talents in banking sector today, given the uncertainty, and also because of geopolitics: Foreign banks cutting HK. However, I think in terms of personal security, it's improved after the Black Mobs. In legco, yea, now we lack actual opposition on issues such as "Tomorrow Lantau" (HKSAR literally pour tax money into the sea). Financial-wise, China is (will soon) be easing, I think selling now be like selling BTC in Jan 2023. Those who don't look a few steps ahead will always sell at bottoms. Primary worries is actually NASDAQ printing all time highs (Concentrated in Magnificent 7),what will happen after the election year on mid term basis. And what will happen in ten years given Americans already paying interest with a third of their GDP. HKD is pegged to the wrong currency and ten years can pass quite quickly. Also while West mostly would love see China collapse: I think while they will ease in attempt to stablise their financial/real estate, but their policy is actually pivot more towards Manufacturing, not to repeat West's mistake in the first place (De-industrialization).
Would you accept Citizenship program by Cuba? Oh hell. No.
I would. Do they have one?
Funny thing, Cuba has a residence by investment program so to speak. There is a small amount of properties available to foreigners on the open market and if you buy one you can get residence,
As long as HK is under CCP control is quite risky to move your business there...
Or your physical self...
And your business is what? Movement against China? Because otherwise HK citizens live very free lives around here, and pay very low tax. If you compare police brutality, personal safety, financial liberty: All three counts excels US.
@@normanfung7124 thats old HK data, when it was independent. Now you are literally depending on the whims of your local dictator. Laws can change in literally minutes, and you have to move your business again or risk unfair fines like alibaba. Lets not mention if you're a citizen of a country boycotting China...
@@normanfung7124 Hong Kong is due to fully integrate China in 2047. I can only see things getting worse and worse in the next 2 decades.
Personally I don’t think it’s that risky, the risky part is that there is no road to naturalisation. I think it is quite likely that you could be affected by a future conflict between China and your western country of origin. I mean you could reside there for 20 years, then there comes a conflict and suddenly your assets get frozen. I think you need a neutral passport if you want to seriously settle down in Hongkong, like one from Latin America or Africa.
I don’t even even think China will start the troubles, but I can see western countries sanctioning Chinese nationals at which point China ofc would reciprocate and sanction western nationals. Anything from seizure of assets to cancelling your residency would imho be in the cards.
China and Hong Kong are both lovely places to _visit_ ... but to live there, as many have explained here...no thanks.
No thanks. You can't convince me
He is desperate. He ran out of places to promote. It's weird he thinks all these nutty countries are better than the USA
We aren't trying to convince anyone. Our aim is to provide valuable information for those interested.
@@nomadcapitalist well you do a disservice to your motto “go where you are treated best” by recommending anything to do with the CCP! I’m glad this isn’t 1939 you would be talking about great properties available in Germany
@@nomadcapitalist thank you for the info, having a HK passport is extremely useful if you have deep tie in China and wants to periodically live there. Applicable for many Chinese without a Chinese passport.
@@grigorkyokuto7546 Literally no point in getting a HK passport, that thing has an expiry date when one country, two systems ends in 2047.
I am a born Hongkonger. Many youngsters and middle class people have left Hong Kong due to lack of confidence on the future.
Yes you should run to America where 30% of GDP is expended just to keep up with interest of current $30tn national debts. Not to mention their impeccable human right records: Domestic and Foreign
The expiry of one country, two systems in 2047 inspires no confidence. China has said nothing about what they plan to do besides 'integrate' Hong Kong into Mainland China. Hong Kong will become a shadow of Shenzhen rather than Shenzhen being a shadow of Hong Kong for decades.
As much as I love china and these chinese culture I am a bit wary when it comes about money and withdrawing your money out of China.
And don't listen too much to the western media.. they always picture china way worse than it actually is.
in HK in front of me, the police stopped a bunch of teenagers in Central for no reason and took their phones asked their passwords to check their phones. It happened at least 3 times in 2 months....I was literally in shock, this is not happening even in Beijing. It was my favorite city in Asia by far until the pandemic started and the CCP took over. Even my foreign friends in HK are afraid to criticize the guv. while out in a restaurant...if you want to pay millions to live there...Good luck.
NSL (National Security Law) being used all the time... Get out whilst you still can!
The largest non-war / non-famine related mass migration in recent times. Including my extended family and myself. Those who must remain have ‘migrated’ their assets and hold contingency passports.
Great for money laundering though, lots of shady Russians / North Korean / Myanmar / Iranians moving in these days. Interesting neighbours for sure.
The Hong Kong passport is really decent, it’s only that Hong Kong’s future is uncertain
Another way to look at this is: where do you think US national debt be in five years? Ask Yellen.
As long as you only have CCP status (i.e. a full Chinese passport) as anyone with BNO status or who has a BNO passport is prohibited from leaving HK without a Chinese passport and official written permission as declared by China! This is why the UK told those with HK BNO passports to if possible get a Chinese passport and leave, or, if out of HK to go straight to the UK and be given a special visa open only to HK BNO status holders.
It's decent now, but there's no point trying to naturalize and getting one because it won't exist after one country, two systems is finished in 2047. After that Hong Kong will be 'integrated' into China, meaning your 'decent' HK passport is gonna turn into a lousy Chinese passport.
Anything that can be rolled out quickly can be rolled back even more quickly. These things are traps for suckers with money
And it's China, where laws change overnight (ask anyone who has ever done business there).
Japan is where it’s at.
@@DeusExMachina50 IRL Waifus and Anime.
The toyota supra, sushi, and neon genesis evangelion are all 10/10
When Japan’s automotive industry tanks because they are not taking the future of EVs seriously they will drag their entire economy down with them. Afterwards there maybe some opportunities so I’ll check back in the next decade (early 2030s)
Japan heavy earth quake and tsunami 😅 no way . Check out Albania beautiful and cheap its not in E.U.
@@D.N.A.23 Is anyone still there I thought most of the population had moved to the UK, or are waiting in France for a Royal Navy escort to Dover 🤣
I think what hasn’t been mentioned is that geopolitics will affect The Hong Kong Dollar more than anywhere. There has been threats to the peg (USD/HKG) by the previous administration. That will be catastrophic to Hong Kong’s economy (and Beijing is aware of this, and understands how important is Hong Kong from an economic point of view).
I would avoid it due to the CCP!!! HK is not what it used to be
Fascinating look at risk/benefit analysis on a noteworthy player in international capitalism.
Very few people left Hong Kong. The population is still the same as it was in 2020. There was a drop in 2022 due to COVID restrictions.
I used to work in HK during 2005-2010, and I recently talked with my old boss who is still there, and he told me many things had changed (without providing details), but when I asked what had changed for him, he told me nothing changed...
I also happen to own a company in Hong Kong (no staff, and I don't live there), and nothing has changed, it's still the same system as 5 years ago (for now).
Don't forget that China declared that no one could leave Hong Kong under the Hong Kong Passport (BNO) so the UK had to get those people to get Chinese Passports and then give them UK visas on arrival in the UK. Guess what, China wouldn't give passports to those wanting to leave Hong Kong and who had the Hong Kong Passport (BNO). Bit hard to leave when you literally can't. The only ones who fled to the UK were the ones who weren't at the time in Hong Kong, those who went to the UK had the following happen:
1. They were on holiday with their family so they're all safe but can't ever return to Hong Kong or China without getting arrested unless the whole CCP disappeared and democracy took over
2. They got to safety but their family are suffering reprisals
How do I know this - I know people who were able to flee to the UK when the National Security Law and the declaration that Hong Kong Passport (BNO) were deemed invalid by China, both happened.
Just because things aren't spoken about due to fear of reprisals by the authorities, doesn't mean they aren't happening.
@@matthewnirenbergyou forgot to mention that a huge portion of HK population has always had foreign passports. As an Italian, I lived in HK for many years and made a lot of local friends. I'm not in a rich people circle but a lot of these people had either Australian, Canadian or US passports. In addition to their HK passport. I was amazed by how many had actually dual citizenships.
Since the CCP have taken over Hong Kong and brought in their insane "National Security Law" which they claim applies in all countries of the world (sorry, China's authority ends at their border), why would anyone want to risk getting in "trouble" because you rejected a business deal and then get taken away under their "National Security Law" because you're in Hong Kong.
Growing up, I was there a lot whilst my father attended medical conferences, it was wonderful under British Control, Victoria Peak, Ocean Park, the Ferry, Tsim Sha Tsu was always great and really came to life at night.
Sadly Hong Kong is too much of a risk due to CCP control, their insane "National Security Law" and the fact that nothing is certain as they can't even honour their own word of when they'd impose their will on Hong Kong (was not supposed to be until 2047)...
Completely agree. 100% worth regular visits, from Lama Island to TST and Soho/central and LKF to Mong Kok I miss Hong Kong but it’s currently occupied by stupid and unsafe governance. I wouldn’t never live there.
It’s interesting to see everyone’s take on this one also saw Japan rolled out a 6 month digital no mad visa.I wonder Japan is doing this because more Japanese people are leaving Japan so they are trying to bring in foreigners.
More like "dying" versus "leaving". Japan has perhaps the highest standard of living in the world, but also the oldest population in the world.
Probably true: “Dying vs leaving”. That aside, the requirements for the digital nomad visa are not high for people in the solid upper income class (maybe a bit low) but the requirements are high for the average income earner , maybe around double Japan ‘s average income. So I guess the goal is to bring wealth or at least more money into Japan.
@@galespressos is it even a "digital nomad visa"? You look at other digital nomad visa criteria and Japan's is pale in comparison.
HK is still an amazing place (my favorite large city in the world), as long as you are not a strong political dissident, but that's the case for most countries in the world outside the West. US media and the Financial Times greatly exaggerate the issues as I have lived here even before COVID and saw the shift on the ground. I recently debated between HK, Dubai, and SG to start my business and chose HK for various reasons. No other place offer what HK offers, especially for what I do (finance related). Would I buy real estate or put all my money into HK bonds? Probably not. But HK is with SG the easiest places on earth to invest from (you can invest all around the world and in USD, EUR, GBP, and even BTC/ETH etc) so it's not like you are tied to investing locally (in terms of ETFs or banks), unlike many other countries.
The place has no future though. After one country, two systems is finished in 2047, it will be 'integrated' into mainland China. After that you wouldn't even be able to use Google, so enjoy the freedom while you can.
I lived in Hong Kong on and off between 2004-2014. It was a great place 20 years ago, top of all the freedom index charts. It honestly felt that way living there. Everything changed in 2015 with the Americans attempted colour revolution, and another in 2019. Both failed but resulted in massive CCP clamp downs on all the freedoms Hong Kong had previously enjoyed, not to mention what their government is capable of when it comes to covidian prison camps. It is not the same place anymore. You can't even wear the "wrong" -coloured shirt outside lest be targeted by the opposite shirt crowd. No thanks.
hk went downhill since the protests, everyone left. its bad
*Everyone who could left. Yes.
Less than 2% left.
You couldn’t pay me to live there.
A roach motel. You can check in but can't check out.
Where's the info on the Indo program? I had a look through this channel but couldn't seem to find anything?
Here is our recent video about Indonesia's 10-Year Visa Program: th-cam.com/video/Y305dHQvajA/w-d-xo.html
@@nomadcapitalist Awesome, thanks for that!
I am a banker in Hong Kong and was born in Hong Kong. I work with ith the last CIES. Quick pros and cons
Pros, 1. very low tax compared with the rest of the world.
2.Well developed and everything is convenient.
Cons 1. CCP is watching you. Cost of living is very expensive, so this is the payback of the low tax.
2. The market is extremely bearish like real estate, shares and bond etc.
3. Very unfriendly to crypto
4. Asian education system, your kids will not happy with this.
5. Tiny living area. I am living in 36sq meter apartment with my parents and I feel better than other Hong Kongers.
6. The saving of the government is low and i doubt if they can hold the currency with USD
There is a low cost way to get the residency now. Like starting up a little business even online business and tell the government that you are eligible in the high talented programme. In a short time your passport will be granted.
So Andrew please assist me to get another passport 😅!!!
Just don't, do not even think about moving to Hong Kong.
Yeah, I don't think so.
Hong Kong is dead since its takeover. There is a reason they’re opening this up as they’re now desperate including the mainland for the investors. Was good years ago but no longer
$3 million to live in Hong Kong? Sounds great if you’re wishing to target wealthy successful people who have had major tax disputes in their past, yet are still relatively young… eg, in their thirties. Have you thought about Lionel Messi for example? … Yep, Perfect.
Hong Kong is part of China. Like Taiwan. And China is a Superpower. Unlike the West, she hasn't developed the habit of sanction your arse, if you get to wrong side of politics. Hong Kong also much lower tax rate and what they tax you, they don't spend on Wars.
Under CCP HongKong ? Lol 😅 . No thanks I will choose Vietnam or Thailand 😊. Last time I visited Hong-Kong was during the good times in 2014 and 2015
vietnam is communist too, did u forget?
@@ARUchannel1 No I didn't forget but you have a less bellicose government in Vietnam. Vietnam doesn't throw its weight censoring and intimidating its citizens and bullying neighbouring Asean countries. Big difference between the Beijing Dragons 🐉 lol 😅
@@globalismoblackman Vietnam doesn't censor?
@@ibcyt nothing that I know of
By tax rates, all G7 and NATO are communists@@ARUchannel1
I'm a big fan of Hong Kong and would absolutely love to live there. But let's be clear about this new program: Your involvement will be funding the CCP and all of their predatory actions around the world.
lol as if that's any worse than funding the USA
@@kingsleymarion For the record, I'm very unhappy about funding many things the US is doing. But there is a hierarchy of evil, different amounts and degrees of trouble. It's just sloppy thinking to equate all bad governments.
@@kingsleymarion For the record, I'm very unhappy about funding many of the things the US is doing. But there's a hierarchy of evil, different types of problems - different degrees of corruption. It's just slopping thinking to equate all bad governments.
@@tdexter4959 😂Hierarchy of evil? You make it sound like other powerful countries don’t have predatory actions around the world.
@@Zergcerebrates On the contrary. That's exactly what I *am* saying. There are many countries engaged in evil or corrupt practices of some kind or another. I'm just pointing out that there are obvious distinctions among them. Some are much worse than others. Running prison camps to enslave an ethnic minority (as China does) is hard to top.
Lol usa municipality bonds are giving 6 percent tax free.
I think it was ilhan omar that said "something happened on a day" paraphrasing. That is not far off from you saying "something happened in hong kong"
Thanks Andrew!!!!
Hong Kong to small for me the condo's are small and expensive no thanks . Albania in europe good place to live its not in E.U.
Taxes?
People?
10% tax , good people, good food, cheap appartments, cristal blue sea , beautiful womans
Interesting the propaganda bots/people on the commentaries. Though for that price I would try and go for Singapore instead.
Ppl looking at HK from the outside and moving there for the first time won't know how good it used to be and will probably find it okay (if they haven't lived in Singapore).
1)Capital gains have always been tax-free, but the Financial Secretary has recently considered imposing capital gain tax in the future.
2)High stock yield is casued by plummeted stock prices. If you invested in those property stocks, you are in for a treat as they are not likely to recover for many years.
3)It used to be a thrilling expereince banking in HK. Now, you will be asked why are you sending large amount of money out of the city, and the banks can put your transfer on hold for days PENDING for some more supporting documents.
4)Most importantly, you never know when the Sino-US relations will turn sour. Have you seen how US has used the SWIFT system against Russia? Can you image your money stuck in HK becuase it's financial system got cut off from the international financial system?
😎I travel around the world and may arrive in Hong Kong soon.
Who’s in HK?
@@RichFreedomDragon I'm not goin there yet. But will be there Soon. Im in Thailand now. I LOVE HK.
Stayed in HK for a month a few years back. It was pretty cool but I'd only want to live there if I had tons of money.
You say HK, I hear China
Hong Kong ? No thank you. You left USA and promote China ?
Hong Kong is Not the place to be anymore
No rule of law, no freedom, Hongkong is not the same anymore.
Hong Kong is not such a great place like it used to be. The passing of the National Security Law definitely affected the freedom of HK a lot. Right now, the government has been installing a lot of surveillance cameras making it like most big mainland Chinese cities. I'd say do your research before thinking of going or investing in HK.
You've got to be kidding Andrew, CCP!!!
Reminder that Hong Kong citizenship is only good until 2047, after that Hong Kong will be 'integrated' into mainland China, meaning your Citizenship will become Chinese (One of the worst passports in the world for Visa Free, and bans dual Citizenship without exception)
I wish Thailand do the needful before this bullrun😢
I just cant wait when Hong Kong and Macao is fully absorb into the new China Greater Bay Area Project and become the Global Center of Business for Asia.
A paradise for high net worth
Your phone is downloaded to a CCP server the minute you ping a tower in HK
Yehhhh.
No.
well, same is true EVERYWHERE. There is no true and complete privacy when you have to connect to a cell tower anywhere.
@@chion918 that’s actually not true. The capability is there the difference is the CCP not only does it and will use the intel against you. I’m not interested in a CCP apologist reply so save your fingers
reminds of the song: I am living in a box, I am living in a cardboard box
Who controls HK? I would not trust that scheme!
This video's comment section has many people filled with 3.72m usd of money to invest in hong kong
Are you out of you're mi ND going to Hong Kong to live dude you need to read up on more of what's going on there
Gotta laugh at some of the US-propagandized peasants commenting herein. According to the expat American Billionaire techie Erik Townsend of Cisco networking fame (retired) and now Macrovoices, this is a FABULOUS program he previously and will again participate in!
Interesting facts: people in HK has the longest life expectancy 🤭, must be doing something right.
Hong Kong would have been extremely attractive 10 or 20 years ago. But risking so much money in a territory falling progressively in the hands of the Chinese communist party is not smart . And I won't bet, if things get dirty for some reason, it will be that easy to move the money outside of the country. Better investing somewhere in South East Asia which is booming and less risky. Many people left Hong Kong for good reasons. Hong Kong will be fully Chinese in 2047 after the transition ends and there is no coming back. The "one country 2 systems" will probably come to end.
**New Asia residence program**
Oh cool
**Its China**
Ah no kthxbi
I can see Western media screaming "Hong Kong is uninvestable!"..
Pls look at the escalation of us-sino tension over Taiwan. There could be wars to erupt between USA and china. How could you invest money in Hong Kong where is the pearl at the kiss of dragon?
PLease create content for less wealthier individuals
HK great, just don't criticise the over masters, esp in social/media.
Will this program expand to Taiwan when Big Red China invades?! 😮
Great analysis and thanks! Spot on.
Thank you! 😊
A lot of people are saying how bad Hong Kong is because the CCP took over but no one's saying you have to live there. Plus, look on the bright side, that just knocks Hong Kong out of the Western sphere of influence. It's a great place if you're looking to hold gold or silver in case of inflation or de dollarization. Also because it's more under China now, the US has less authority to sieze or freeze your assets.
Like I said you don't have to live there but if countries are leaving the Western sphere of influence I see that as a win in my book.
I think there's a fine line between out of the western sphere of influence and joining the eastern sphere of influence. Most of the people here are looking for a fine line of neutrality, not joining the other side. The USA does some bad things and China and Russia does some bad things. But from the perspective of someone that is looking for more personal freedom, China is probably a step back from the USA because they plan to have huge control over your life.
China!?
If you like dystopia
I'm not a great believer in investing in Communist/Socialist countries.
Don’t be fooled by CCP🇨🇳