Hire Staff in Hong Kong in Record Time.
New Horizons’ payroll and PEO services are designed for foreign companies to hire employees through our local payroll entity. The staff is assigned to work full-time for your company abroad with local payroll and benefits set up and monitored by New Horizons’ local payroll experts.
Monthly Mandatory Provident Fund (MPF)
it is a compulsory saving scheme for the retirement of residents in Hong Kong. Generally, it is 5% on salary, with a maximum contribution of HKD 1,500 / month. Here is more info
Hong Kong Labor Contract
Any clause (non-disclosure clause and training fee clause) can be included in the employment agreement. But any fixed commission, bonus, incentives, KPI driven clause will need to be provided in a separate addendum.
In Hong Kong, there are 2 ways for tax calculation: using the standard tax rate and the progressive rate. The annual taxation will be calculated in these 2 ways and the employee will pay the smaller amount. In practice, there are different deductible allowances (not only MPF) and tax rebate. Here is more info
Once the foreign company confirms the employment conditions for its staff in Hong Kong, New Horizons will prepare the employment contract accordingly. Upon approval, New Horizons will arrange for the candidate to come into our office to sign on-boarding documents.
It usually takes around 1 month for foreigners to receive the immigration authorities’ approval. The official commencement date will be the date when the visa, sponsored by the new employer, is activated. The contract with estimated commencement date is to be submitted to the immigration bureau. If the employee is from Hong Kong, the on-boarding process normally takes about 1 week.