The Mandatory Provident Fund (MPF) System, a cornerstone of Hong Kong’s multi-pronged retirement protection framework, has been in operation since 1 December 2000. This system regulates mandatory, privately-managed, and fully-funded contribution schemes. Employees, employers, and self-employed persons covered by the MPF System must make regular mandatory contributions, calculated at 5% of the relevant income, subject…
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Apart from limited exceptions, the Employment Ordinance applies to all employees engaged under a contract of employment in Hong Kong. Employee rights are governed by the provisions of the Employment Ordinance, other applicable ordinances, their contracts of employment, and common law principles. All employment in Hong Kong is contractual, with no concept of “at-will” employment.…
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A non-Hong Kong company seeking to promote its business and engage with customers in Hong Kong can establish a Representative Office, similar to setting up a branch. This involves obtaining a business registration certificate. Key Facts: A Representative Office has no legal recognition and the parent company assumes implicit liability for its actions. Ideally, the…
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The two cities will leverage their competitive advantages to boost financial cooperation. Representatives from Hong Kong and Shanghai recently convened the ninth Working Meeting of Hong Kong-Shanghai Financial Cooperation, identifying areas for collaboration to strengthen the financial ties between the two cities.During the conference, Hong Kong’s Secretary for Financial Services & the Treasury, Christopher Hui,…
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To establish a branch of a non-Hong Kong company in Hong Kong, you must submit an application for registration to the Registrar and the Commissioner of Inland Revenue within one month of establishing a place of business in Hong Kong. Registration with the Registrar may not be necessary if the branch office is not used…
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Hong Kong ranks 3rd among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Hong Kong improved to 3rd in 2019 from 4th in 2018. Ease of Doing Business in Hong Kong averaged 3.33 from 2008 until 2019, reaching an all-time high of 5.00 in…
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The Hong Kong General Chamber of Commerce (HKGCC), also known as 香港總商會, is a self-funded, not-for-profit organization dedicated to promoting and representing the interests of the Hong Kong business community. Established on May 29, 1861, just two decades after the founding of the Colony of Hong Kong, HKGCC stands as the oldest and one of…
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Under the Basic Law, Hong Kong maintains its status as a common law jurisdiction, a commitment reaffirmed as a long-term state policy by President Xi during his last visit in 2022. The advantages and benefits of preserving the common law system in Hong Kong are evident. The common law system has been instrumental in shaping…
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The Hong Kong International Arbitration Centre (HKIAC) is a dispute resolution institution based in Hong Kong, which specialises in administering arbitrations, adjudications, domain name dispute resolutions, and mediations. “Hong Kong International Arbitration Centre (HKIAC): Safeguarding Disputes with Expertise and Independence” Established in 1985 by prominent business figures and professionals, HKIAC stands as a premier institution…
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