[bolo77]

ive been offered the chance to join as a director of a company based in HK.

Its a startup company and due to my reluctance of leaving a well paid job in the UK, they are offering me US$1500 per month as a retainer. If the company makes money then i will recieve a generous percentage.

SO the only guarenteed income is the $1500 per month.

Im unsure what type of lifestyle this would allow for in HK. i guess i would need to flat share to keep my costs down. Can anyone offer any advise? im going to HK next week to meet my business partner and expect him to try convincing me to move there so the more i know about being able to survive on the offered salary, the more bargaining power i will have.

look forward to any advise

[JJexpat]

I think there must be something wrong with the numbers - forgot a zero maybe? $1500 USD is about 11,700 HKD and you do NOT want to be living in Hong Kong on that. My rent alone at the edge of Mongkok is 15,000/month. If it is 15,000 USD / month, you would be in line with many director level positions, less than some, but in the top earners in Hong Kong I'd say.

Good luck!

[Melkir]

I've heard it's possible. If you're all comfortable sharing a small place, it might work out well depending on what expenses you're leaving behind or bringing with you.

I'd ask for more, but I'm sure other people will have more informative and better researched answers :-)

I'd hope you were missing a zero.

[penguinsix]

My friend did it, ten years ago, on that wage, living in a 10 story walk-up apartment building sharing a flat with a senile 80 year old women who spoke no English. Every night when he came home she would confront him at the front door with a wok or other cooking utensil screaming "burglar or Murderer or thief." He eventually took a photo of the two of them together and put it by the door so he could just point to it whenever she tried to attack him.

But seriously, I think $1500 US is quite low. That's about $11,670 Hong Kong and while I know there are people living on less, there are few expats here besides backpackers who get by on that.

My one bedroom flat in an expat building is $12,000 (Manhattan Heights) and that is a bit below the going rate here. Australian milk is $25HK a half quart I think (like $12 US a gallon). OJ is $35HK a quart, coke is $20 for an eight (or 4 pack). Taxis are generally $30-50 going from one part of Central to another, and well over going across the island.

Are you missing a zero?

To be honest, things here are like London or New York. Property is higher, some food is lower. Transportation is cheaper, clothes cheaper (unless you buy brand names). Dining out is generally lower, unless you chose certain places. I think students could live on $1500 US in HK a month, but it would be rough. Given that you're already out of school with a good paying job, I think it would be tough to maintain the standard of living you currently have in the UK on that amount of money here in HK.

[nivantj]

Strange!!!!!!!
Based on his story, doesnt seem like he missing '0' for sure (15000 USD/ month and talking about flat share!!!!!). Probably he should replace '1' with either '4' or at least '3'.
Besides too many questions pop up in mind..
(1) If director gets this pay, what would an employee earn!!!!!!
(2) Do you have work permit in HK or the company is going to sponsor? (i.e. Sponsor for the post of DIRECTOR with around HK$12000/ month and that too locally not available!!!!!!!!!!)

[samson]

I have a best friend work as a property agent in the NorthPoint . He can help you to find a flat meet your bugget around HKD6000/m or less. If you need any assistant please email to me when you arrived Hong Kong.
my email : ls_hkchina@yahoo.com.hk

[bolo77]

Thanks guys for all your replies. im afraid there isnt a 0 missing. Whats been offfered is $1500 USD per month as a retainer with a large percentage of any profiuts being made also being paid to me.

Could work out great if we make money but could be scary if we arent doing so well.

Additionally they havent mentioned anything about being sponsered although ill know more next week. At present all i know is that he has registered a company and is based in HK. Having worked remotely for him over the last few years, he is now asking whether i can move out there. Where should i go and look for information about getting sponsered etc or do i actually need to be sponsered?

im definately going to ask for a bigger retainer as i cant see how to live on what is offered. I know it will be the worst case scenario not making anything on top of the $1500 but then again you have to be prepared for the worst.

Ill post again after visiting HK this week and finding out some more info

Thanks again