Millionaire Households: 200,000
Ultra High Net Worth Households: 223
GDP (millions of USD): 225,003 (N/A)
Hong Kong, although not technically a sovereign country, has a largely free market economy that relies on international trade and finance. It is home to HSBC and Hang Seng Bank, two of the largest Chinese banks. It is also home to Li Ka-shing, Forbes 11th richest man in the world, who works in a number of businesses through Hutchison Whampoa Limited and Cheung Kong Holdings. There is a flat 15 percent income tax and no capital gains tax or sales tax. Hong Kong also has the fourth highest concentration of millionaires, with 8.7 percent of all households having at least one million dollars. The island also has the third highest concentration of ultra-high-net-worth households, or those with $100 million or more.
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