[cwoodward]

Many expats become such in order to make and save more more money as their primary objective if only for a few years.
With this in mind the below offers a different and I believe more objective view than many ‘lists ‘which are very broadly based and on very different priorities from the objective of building wealth while having quality memorable.

Of course there need to be boundaries of safety, rule of law, stability legality, comfort and a decent social life but local politics is a subject in my view best totally avoided as a criteria as long it does not negatively infringe on the above boundaries.

Of THE MOST vital importance is that any country being seriously considered has a low tax rate (of less than 20% as a rule) and is a real deal breaker if not.
Here I have ignored housing costs as any decent expat package will include a good and untaxable housing allowance or housing of the requisite standard. In the leading Asian expat destinations quality qualified live in help (8 hours a day 6 days a week) costs no more than about GBP 800 a month all in.

Having lived in 12 different countries, UK included I have some experience of the expat life and would would add to my list of needs:
Connectivity and climate . Australia for instance is a long way from almost anywhere as is New Zealand so not cheap exotic long weekends and the tax rate is far too high in both. Canada is remote too cold and has high tax. Europe is Europe and taxation is the killer for any ‘soldier of fortune’. Africa can be a good choice for the adventurous single expat.
The USA not not a starter for most as packages and perks are poor other than in IT, the tax is high the education system odd for Europeans and safety and medical is a real issue for most expats

Convenience. There needs to be decent affordable shops and restaurants and medical help within 15 -20 minutes of home.

Schools. Good quality, safe English speaking international schools that offer useful expat curriculum’s are a must for families.

Accessible and interesting countryside and beaches. Are a must as for expats are decent well appointed clubs. For instance most expats here belong to to several: myself the Jockey, Cricket and Yacht clubs and many employers have debenture memberships that allow membership as an expat perk. Singapore offers similar perks as do many other Asian countries to one degree or another.

Decent sports facilities. Are a must for most

Medical care and good affordable hospitals. These are a must for any expat single or family

My list of possibilities for the expat based on the above is:

Singapore Malaysia, Indonesia Thailand, Hong Kong, China Vietnam some African and Central and South American countries.
(I have left Philippines and Taiwan off of my list simply because there is not much in the way of good expat packages on offer although I have lived in both).

Taxation rules Japan out but it meets most other criteria and I loved my 2 years there. It is still perhaps a possibility for the adventurous couple (no children) and employers at the top end can be very accommodating and generous to those that fit and contribute. I have 3 expat chums (now retired rich) who never left and were always generously rewarded. Interesting all retired to Asia

These pieces are interesting:
https://expatra.com/articles/work/10-best-countries-work-abroad-want-money/https:/

/scandasia.com/2022-survey-the-best-countries-to-live-and-work-abroad-and-the-worst/

What do others believe are the best destinations for young soldiers of fortune with the need to legally build wealth the priority ?

2 users thanked author for this post.

TupeloKid, GivingupBA

[GivingupBA]

Hong Kong and Singapore are right up there. The latter gets some people down I know because of the 12 months a year tropical temperatures (not the case in HK, as you know).

I have lived all over the place. Best of all for me was HK, I still miss it.

2 users thanked author for this post.

TupeloKid, cwoodward

[esselle]

Have lived in France, USA, Australia and home country UK.

All had good and bad, and if I could mix them up it would be Paris for culture and style, NYC for sheer brashness, Melbourne for food and outdoors. UK is just convenient.

France most lucrative as expat tax regime in place at the time (2004-2008) meant only paying single digit income tax.

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cwoodward

[PeterCoultas]

Old enough to have bought my London flat when prices were around 150X less than currently. A result was I could subsidize my enjoyable working stays in
Aussi and Switzerland by UK rent income and accumulate earnings abroad as savings. The most financially rewarding stay abroad was however an “academic exchange” for some years in the USA. This had the advantage that it was possible to choose the country where my US salary was taxed – the result was that it was legitimately tax free ! These days had I built up huge debts during studies at UK universities that would provide a big reason to leave the UK and work abroad until this debt was “forgiven”.

[esselle]

Sadly the UK student debt follows you abroad. One of my daughters moved to Australia 7 years ago and had to advise the SLC of the fact. They changed their calculations on repayments as a result, but the debt remained until I paid it off.

[first_class_please]

The Middle East, being 100% tax free and expat packages that cover housing, medical, schools, vacation etc.

Most have a reasonable amount of culture but also good location for travel.

As always, there are downsides and restrictions, but if the pro’s outweigh the con’s for you…

Saudi, Kuwait, Bahrain, Qatar, Oman, UAE…

1 user thanked author for this post.

cwoodward

[DavidSmith2]

So many variables it is very hard to create a generic league table. I have lived long-term (min. 6 months) in 9 countries and all have their ups and downs. In terms of cost of living and tax rates I think North Macedonia was the cheapest/lowest. Ghana is incredibly expensive for house rental and expart-style food shopping, so it depends on what yur package covers. Slovenia was/is very expensive on almost all metrics and high tax rates. Spain was pretty good and Bulgaria also good, back in the day. Albania would be my favourite in terms of living – climate, food etc. But working there was a challenge. So you pays your money (or they pay you) and you takes your choice.

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cwoodward

[nevereconomy]

Of course there is also the option to live in other countries as a non-expat as I did in several. You get paid as a local and live like one. My one expat experience in Asia was fine, but in no way more enjoyable or rewarding than any of the others. Most of my working life was USA non expat and that offered a most enjoyable standard of living and lasting financial stability.

[FormerBA]

I think with the exception of the middle east bubble, the glory days of expat life are over. I had time in Saudi Arabia, West Africa, the Middle East and notably Korea!

All great fun for someone who was young free and single. Some aspects of life would have improved, much like wine, if I had been older and perhaps married. What I see from documentaries about life today in Dubai is not expat life, its simply excess in the hands of people that lack the education and grace to handle it. I cant see them lasting 24 hours in 1980’s Saudi!!!

My overseas life ended in 1994 and while I look back wistfully at times I rather like my life in the UK. My biggest disappointment is how the UK is tearing itself apart and the utter stupidity of Brexit. That decision has robbed so many young people of an opportunity to work overseas with ease. While the financial rewards in Europe my not be great the exposure and experience of working in different cultures if mind broadening and experiential.

Money was certainly the driving force for many of the “permanent expats” I met but they were often all quite mad, especially in the more challenging environments.
Saudi was all about money for me, but the rest was simply fabulous experiences and personal growth. Surviving Sierra Leon or Nigeria had some financial rewards, but more than that they built resilience and character, something that is not readily available today.

I would urge any young person today to broaden their horizons and get out and see the world. It big, its bold and it offers so much more than the UK does right now.

5 users thanked author for this post.

DavidSmith2, Cali2CPT, Johnnyg, Jacob, TimFitzgeraldTC

[cwoodward]

Defiantly quite mad!
It is certainly correct that there are less ‘expat opportunities’ in some Asian countries for the less talented (Hong Kong included) but to a great degree they this is largely balanced by opportunities in the emerging Asian economies.

However they are still there in the older ex colonies; an example close to home being a young specialist UK lawyer who rented an apartment from us for 3 years. He was on upwards of 3 million Honky $ plus perks and moved on to a larger swanker apartment.

There are still many of the old British colonial ‘Hongs’ and banks operating (and expanding) here and in Singapore including Swire (Cathay Pacific) and Jardine’s plus HSBC headquartered here. Hong Kong and to some degree Singapore operate on British common law (recently reconfirmed for another 25 years) and thus expat specialists are still needed and UK companies attracted.

[Author]

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