Hong Kong's image as a premier offshore jurisdiction endures....
Competition in the world of offshore finance and offshore accounting has never been more fierce, but Asia's economic powerhouse Hong Kong has maintained its position as a global frontrunner.
Whilst other jurisdictions wake up to the idea that embracing an offshore legal framework can provide a sound economic base to smaller nations, the choice of destinations is growing rapidly - both for expat accountants and the firms themselves.
Many smaller Caribbean islands such as the BVI, along with established jurisdictions such as Bermuda, The Cayman Islands and Dubai are providing attractive alternatives with excellent job prospects.
And of course the success of the offshore accounting industry is intrinsically linked to the country's offshore financial services industry - all good news for expat accountants.
Hong Kong has continued to build on its economic strength since the transfer of sovereignty from Great Britain to China in 1997 with Hong Kong holding the status of a Special Administrative Area.
Hong Kong's main advantage, and key attraction for expats is its highly developed infrastructure and good amenities. Many other offshore jurisdictions small and still developing, whilst Hong Kong is a thriving city of seven million residents in the hub of Asia.
It has a major international airport capable of handling millions of travelers each year (47.8 million in 2007!), whilst residents are well served by an integrated transport system including the MTR (Mass Transit Railway). More than 90% of all trips in Hong Kong are made on public transport.
Accountants are attracted to Hong Kong by a host of multinational accounting firms and independent employers, who have created a competitive jobs market - and as with seemingly everywhere in the modern world there is a shortage of qualified accountants.
Successful applicants can expect a high salary with low taxes - the top rate of income tax is 17% with a 5% social security contribution - and a high standard of living, coupled with an excellent climate.
Any accountant considering a move offshore should certainly explore the benefits of an expat life in Hong Kong. Thousands of job-seekers arrive each year and the majority enjoy the experience of a lifetime....
advertise with hong-kong-accounting-jobs.com
