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Posted on December 26 2023

Top 5 Asian countries for Finance Professionals: Comparison of Salaries, Taxes, & Cost of living

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By  Editor
Updated December 27 2023

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Highlights: Top 5 best countries for finance professionals to live in Asia

  • Tokyo, Hong Kong, Shanghai, Sydney, and Singapore emerged as top 5 Asian countries.
  • These Asian countries are reviewed based on ten key metrics.
  • This review highlights the diverse factors of each city and their salaries, cost of living, and taxes.

 

*Willing to migrate overseas? Y-Axis will guide you in step by step process.

 

5 Asian countries for finance professionals looking to relocate

In the recent Bloomberg review encompassing of ten key metrics, such as rent, income, taxes, and educational costs, Tokyo stands out for its economic advantages and quality of life. Hong Kong came in second followed by Shanghai and Sydney. Singapore came at the fifth position.

 

Japan capital boasts stable rents, reasonably priced foreign school fees, and residents can buy Tesla Model Y Performance for around $50,000 per person.

 

*Want to work abroad? Y-Axis is here to help you.

 

Details about the top 5 countries

City

Finance Professional’s annual pay

Michelin starred restaurants

Concerts (Taylor Swift, Coldplay)

Tokyo

$98,094

183

Yes

Hong Kong

$92,307

78

No

Shanghai

$53,439

51

No

Sydney

$114,189

141

Yes

Singapore

$84,109

55

Yes

 

Tokyo

Tokyo stands out for its cost effective living, more Michelin-starred restaurants, cleanliness, low pollution, and cultural diversity. The route to permanent residency for high earners has contributed to a recent increase in the city’s foreign workforce.

 

Hong Kong

Hong Kong secured the second position, with a finance manager's annual pay of $92,307 and 78 Michelin-starred restaurants. It offers the lowest personal income tax rate and a significant increase in wage. Government initiatives, such as lower taxes for foreign real estate buyers and a high-earning worker visa program, aim to restore the city's global financial center reputation. 

 

Shanghai

Residents of Shanghai highlight the city's resilience and dynamic atmosphere. Shanghai offers advantages like low cost of living expenditures, including food, rent, and medical services but faces increased foreign school fees and relatively high tax rates.

 

Sydney

Sydney secures the fourth spot with finance and accounting plant manager's annual pay of $114,189 and 141 Chef Hat restaurants. It offers a desirable lifestyle and an English-speaking population and there’s a growing popularity due to excellent public schools.

 

Singapore

Singapore secured the fifth position and post-pandemic wealthy individuals have increased in number entering the nation due to its low tax rates and safety. Foreign nationals make up 30% of the population in Singapore. However, it's the most expensive city for vehicle ownership, with Tesla registration exceeding $200,000.

 

Looking for finance jobs abroad? Talk to Y-Axis, the world’s no. 1 overseas immigration company.

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