As an employee in Hong Kong, you will be eligible for severance and long service payments if you meet certain conditions. For severance payments, you will need to meet the following criteria: For long service payments, you will need to meet the following criteria: You will be entitled to either payment, but not both. How Are […]
The Minimum Wage Ordinance in Hong Kong is applicable to every employee, except in the case of interns or students who are exempted. The intern minimum wage exemption in Hong Kong exempts student employees under the Minimum Wage Ordinance (Cap. 608). Under this exemption, student interns and work experience students with no employment relationship to […]
Every company in Hong Kong must have a corporate or company insurance policy that covers for employees according to their job risks. Employees are the real drivers of a company as they deal with the stresses of the workload fulfil the company’s mission or trade objectives. Compulsory by Law Hong Kong’s Labour Department states all […]
The Employee Ordinance law highlights that limited companies in Hong Kong are rightfully required to take out Hong Kong Employees’ Compensation Insurance policy to conceal their liability if their worker suffers an injury or illness during the usual period of their work. Under the Employees’ Compensation, all work-related injuries regardless of the service length or employment status […]
The Mandatory Provident Fund System (MPF) in Hong Kong is a system which concerns both employers and employees alike. Both parties will be required to make regular contributions. The contributions are calculated at 5% of the employee’s relevant income, and the contributions will be subjected to the minimum and maximum relevant income levels. For an employee who […]
Globally, tax treatment for dividend income varies across countries. This requires investors to understand their home country’s tax policies and the tax liabilities associated with overseas investments. This article provides a detailed overview of the fundamental concepts, distribution criteria, tax advantages, and relevant regulations of Hong Kong company dividends, helping investors better understand and manage […]
Beginning 1 March 2018, new changes were made to the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Bill 2017, and the Companies (Amendment Bill) 2017. These changes were passed by the Hong Kong Legislative Council. These changes were in-line with the international standards of counter-terrorism financing and anti-money laundering regulations which were set forth […]
Every limited company registered in Hong Kong must file tax returns with the Inland Revenue Department (IRD) annually, regardless of its operational status. Eligible “inactive companies” —those with no business activities (no transactions, income, or expenses) throughout the year—may apply for “zero declaration.” This article provides a detailed explanation of what “zero declaration” and “inactive […]
Globally, tax treatment for dividend income varies across countries. This requires investors to understand their home country’s tax policies and the tax liabilities associated with overseas investments. This article provides a detailed overview of the fundamental concepts, distribution criteria, tax advantages, and relevant regulations of Hong Kong company dividends, helping investors better understand and manage […]
Known as SUCCESS for short, the Support and Consultation Centre for Small and Medium Enterprises (中小企業支援與諮詢中心 in Chinese) is a run by the Trade and Industry Department (TID). Collaborating closely with various trade and industrial organizations, private enterprises, professional bodies and other Government departments in Hong Kong, SUCCESS aims to provide SMEs with business information and consultation […]