Looking to live well and not pay exorbitant
taxes? Hong Kong, Luxembourg, and Sydney might be your best bets, depending on
your current stage of life. Those three places were named the most
tax-efficient locations for the quality of life they offer, according to Knight
Frank’s Global Lifestyle Review 2016.
For the entrepreneur
Knight Frank selected Hong Kong as the No. 1
choice based on factors such as Mercer’s political-risk ranking and distance to
a major international airport, with direct flights from at least three of the
following international hubs: London, Paris, New York, Singapore, and Moscow. Homebuyers can also take advantage of cheaper
housing costs, as prime residential prices in Hong Kong have gone down 3.6%
since December 2015, according to the report.
For families
What attracts families to a particular area might
be entirely subjective, but the Knight Frank ranking is based on elements such
as the number of international schools, Mercer’s Personal Safety Ranking, the
cost of annual health care, available leisure activities and even hours of
sunshine per year.
Taking these factors into account, Luxembourg led
the ranking with 18 international schools, less than $7,000 in annual health
costs and 1,550 hours of sunshine per year. Luxembourg, where mainstream home
prices have gone up by 5.1% since December, was followed by Vienna, Hong Kong,
Geneva, and Dubai.
For retirement life
The best choices for retirees, according to the
index, are Sydney, Malta, Luxembourg, Limassol (in Cyprus) and Vienna.
While Sydney has experienced a 14.5% property
price growth since December, the average cost of a gallon of gas is about $3,
and it’s $2.68 for a cup of cappuccino, according to the report.
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