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Today we are comparing Dubai and Hong Kong.
One thing that these 2 places have in common is that they’re both considered tax havens in their own ways.
So, how similar and different are they? Let’s see!
First of all, talking about the weather Dubai has way more extreme weather, as it’s located in the desert. Summers are so hot, that most residents spend the entire summer inside. Luckily, there are plenty of inside spaces in Dubai where you can walk and have fun without being exposed to scorching summer sun.
Hong Kong definitely offers a way milder climate. It is often overcast and rainy, and winters are fairly chilly. In Dubai it is never the case, you won’t be seeing any rain there!
How about costs of living? Hong Kong is another level of expensive! Housing prices in Hong Kong are the second-highest in the world, after Monte Carlo!
Dubai real estate is pricy, but Hong Kong is a whole different level since they’re so constrained with the space.
Other than the cost of housing, Dubai is probably more expensive in any other category (food, cell phone plans, internet, clothing, etc)
As per cleanliness Dubai certainly wins. Even though it’s a big city, with lots of residents as well as tourists cleanliness levels are extremely high in Dubai.
Hong Kong is often very dirty.
When it comes to service culture Dubai wins again. In Hong Kong, they don’t care much about being overly polite, but they care a lot about getting things done.
Dubai really favors service culture, and you can expect a high level of service and devotion everywhere you go.
Dubai is also a way more touristy place than Hong Kong. In Hong Kong, you will see more business travelers and people who came to get the stuff done, while in Dubai you’ll meet many people who came to chill at the beach and enjoy the attractions of this tourist haven.
How about taxes?
When it comes to taxes UAE is just too hard to beat, as it is clean zero % tax! You just don’t have to pay taxes, it’s so simple!
In Hong Kong, you can get favorable taxes, but it is not straight zero. You can pay no tax on investment income, while it’s not so easy to pay zero tax on earned income.
It’s also easier to relocate to UAE, and they have many visa options. This is not so simple in Hong Kong.
How about banks? Both places offer a variety of banking, but they’re getting tougher and tougher with time. Banking in Dubai is still probably easier than banking in Hong Kong.
They both offer lots of financial services.
What about the connectivity? Dubai is probably one of the most connected cities in the world, as it is a massive hub for airlines. Hong Kong is also well connected, but not so easy to reach if you come from Europe, for example. Dubai is just in the center of the world, and it’s a massive bridge between Europe and Asia.
When it comes to my preferences, Dubai certainly wins over Hong Kong. Especially since Hong Kong was very restrictive and closed to everyone in the last 2 years, while Dubai was open and welcoming.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
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Author: Michael Rosmer
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