In today’s economic climate, mounting debt pressures are driving both individuals and businesses to seek effective restructuring solutions. To meet this growing demand, HKIVALAWYER.com has officially launched. HKIVALAWYER.com connects individuals and companies with leading lawyers and law firms in Hong Kong who specialize in debt restructuring, with a particular focus on Individual Voluntary Arrangements (IVA)…
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The Diffusion Index (DI) for SME revenue rose to 42.1 in July, up from 41.6 in June, according to the Census and Statistics Department. Business sentiment amongst SMEs and their outlook in one month’s time both improved slightly in July, a government spokesperson said. Meanwhile, the overall employment situation remained largely stable, he added. DI…
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Cheque usage in Hong Kong is rapidly shrinking, with both paper and electronic formats recording double-digit drops in recent years. According to the FIAKS e-Bulletin Issue 6.0, the volume of paper cheques fell 18.40% between 2021 and 2024, totaling 55.81 million transactions. E-Cheque usage dropped even more steeply—down 20.68% to just 0.35 million transactions. Experts…
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Hong Kong’s newly introduced stablecoin ordinance may increase pressure on local banks, particularly in the digital payments sector, but it could also present new opportunities—especially in wealth management. Stablecoins issued under the new regime are expected to heighten competition in wholesale payments by offering advantages in both cost and transaction speed. In response, local banks…
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The Inland Revenue Department has launched three new tax portals aimed at streamlining services for individuals, businesses, and tax representatives, the department announced on Tuesday. The Individual Tax Portal allows taxpayers to file returns, update personal information, and view their tax positions. It is also accessible via the department’s mobile app, eTAX. The Business Tax…
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As the appeal of traditional tax havens such as Bermuda and the Cayman Islands declines, Hong Kong is positioning itself as a new destination for global multinationals seeking favorable incorporation environments. Historically, low or zero corporate tax rates and the absence of estate duties made jurisdictions like Bermuda, the Cayman Islands, and the British Virgin…
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Digitalisation has brought numerous benefits, including the convenience of digital payments and online shopping. However, the surge in digital activity has also enabled fraud and scams to proliferate on an unprecedented scale. According to the Hong Kong Police Force, over 44,000 cases of deception were recorded in 2024 — a fourfold increase over the past…
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Under Hong Kong’s revised Enhanced Supplementary Labour Scheme (ESLS), which took effect on 17 June, employers seeking to hire foreign workers for technician-level or lower positions must now wait six months before reapplying—unless it’s a contract renewal. The updated rules cap imported worker contracts at two years, reinforcing the government’s aim to provide greater job…
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The central banks of Hong Kong and mainland China have officially launched Payment Connect, a new cross-border payment infrastructure aimed at enabling faster, more efficient financial transactions between the two markets. Launched on 22 June 2025, the initiative links China’s Internet Banking Payment System (IBPS) with Hong Kong’s Faster Payment System (FPS). The result is…
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