Hong Kong 2021-22 Budget proposals

Hong Kong’s Financial Secretary, Paul Chan, outlined his budget for 2020-21 in the Budget Address on 24 February 2021 outlining measures to support enterprises, revive and stimulate the economy as well as tax policy. Highlights of the measures of particular interest to Hong Kong companies and our clients operating in Hong Kong are set out here.

Hong Kong Resident Visa Extension of Stay applications processing update under COVID-19

The Hong Kong Immigration Department has announced that in view of the travel restrictions and difficulties imposed by the COVID-19 pandemic, Hong Kong non-permanent resident visa-holders may apply to extend their visa whilst currently overseas. This is a temporary measure and not applicable to Foreign Domestic Helpers and Imported Workers. The Immigration Department published the announcement on 31 December 2020 and the announcement may be viewed here below and at its source here. The Immigration Department Accepts Applications for Return to Hong Kong from Non-Permanent Residents Outside Hong Kong under the COVID-19 Pandemic (Not Applicable to Foreign Domestic Helpers and Imported Workers) In general, persons admitted into Hong Kong under various immigration policies/schemes may apply for extension of stay within four weeks before their limit of stay expires. Applicants should be physically present in Hong Kong both at the time of applications and collection of the relevant labels (for approved applications). Some persons outside Hong Kong with their limit of stay about to expire / expired and, due to the COVID-19 pandemic, may not be able to return to Hong Kong timely to apply for extension of stay. For those whose limit of stay is about to expire (within four weeks) / has expired for less than 12 months, they may submit a duly completed application form together with the required supporting documents required for application for extension of stay under the relevant immigration policy/scheme concerned in general situations, and a letter setting out the details on their inability to return to Hong Kong timely for the extension of stay formalities. If the applicants continue to meet the eligibility criteria under the relevant immigration policy/scheme concerned and it is satisfied that … Discover More

Hong Kong Limited Partnership Fund Ordinance

The Limited Partnership Fund Ordinance (Cap 637) comes into operation on 31 August 2020, providing a rather ground breaking new standalone entity framework for the formation of what has been termed limited partnership funds in Hong Kong.

Hong Kong to increase maternity leave to 14 weeks

Hong Kong’s Legislative Council has recently passed the Employment (Amendment) Bill 2019 (the Bill) which enhances the leave benefits of female employees who are employed under a continuous contract of employment. The key changes are as follows: An increase in the statutory maternity leave entitlement from the existing 10 weeks to 14 weeks. The daily rate of maternity leave pay for the extended four weeks of maternity leave shall be at the rate of four-fifths of the employee’s daily average wages. The maternity leave pay for these four weeks of maternity leave is capped at HKD80,000 per employee.  The Government has committed to reimburse employers payment in respect of the extended period of maternity leave (details are still to be confirmed). The period of pregnancy mentioned in the definition of “miscarriage” will be shortened from 28 weeks to 24 weeks. A female employee who suffers a miscarriage at or after 24 weeks of pregnancy may thus be entitled to maternity leave. A certificate of attendance, as an alternative to a medical certificate, will be accepted as proof of entitlement to sickness allowance for a day on which a female employee attends a medical examination in relation to her pregnancy. The amendments are not yet in force. The Bill is expected to be effected by the end of the year. Marbury services Marbury offer a comprehensive HR & payroll solution to employers in Hong Kong. Marbury’s professionals help our clients to understand local operating conditions, tax regulations and company and labour laws and then keep them compliant throughout helping to manage all the company’s statutory obligations. Marbury can assist to assess the company’s eligibility for available subsidies and to make the application to … Discover More