There are over 8,000 structures that are 14 stories or higher in Hong Kong, making it the place with the most skyscrapers in the world.
Payroll and Benefits Guide - Hong Kong
Fun Facts
The International Commerce Centre (ICC) which is in Hong Kong is the twelfth tallest building in the world.
Hong Kong is known for being “a shopper’s paradise”, with a variety of upscale malls, street markets, and lively shopping areas.
Traditional Cantonese food known as dim sum was created in Hong Kong.
In terms of Rolls-Royce car ownership per person, Hong Kong leads the world.
The country was once called “Banana Republic”.
Contributions
Employee Payroll Tax
| Contribution Type | Rate |
| Provident Fund | 5.00% |
| For earnings over | 1,500.00 HKD |
Employer Payroll Tax
| Contribution Type | Rate |
| Mandatory Provident Fund | 5.00% |
| For earnings over | 1,500.00 HKD |
Payroll
Payroll Cycle
Hong Kong operates on a monthly payroll cycle, with payments typically issued on the month’s last business day.
13th Salary
A 13th salary is typically paid in Hong Kong around the Lunar New Year or at the end of the calendar year.
Work Hours and Week
Typical business hours are from 9 am to 6 pm, Monday through Friday. There are no legal restrictions on the number of hours a person can work, with the exception of young person in industrial settings. Anyone between the ages of 15 and 18 is considered a young person. A maximum of 48 hours may be worked per week, but only eight hours per day between the hours of 7 am and 7 pm.
Anyone between the ages of 15 and 18 is considered a young person. A maximum of 48 hours may be worked per week, but only eight hours per day between the hours of 7 am and 7 pm.
Overtime
There are no specific regulations governing overtime pay; instead, it is typically specified in contracts of employment or collective bargaining agreements.
Leave
Paid Time Off
7 days of paid leave are granted to workers once they have worked with the company for at least a year. Until the annual leave reaches a maximum of 14 days in the ninth year of employment, this increases by one day for each successive year of employment.
Public Holidays
There are currently 12 public holidays in Hong Kong but it will increase to 17 by 2030.
Sick Days
Fixed-contract employees are given two paid sick days per month for the first 12 months of employment, increasing to four paid sick days per month following the first year of employment.
Sick pay is calculated at a rate equal to 80% of the average daily earnings for the previous 12 months. In the case of employment for less than a year, the calculation is based on the average wages obtained since the employee’s start date.
Employees may accrue a maximum of 120 sick days at any time throughout the course of their employment.
Maternity Leave
Pregnant employees are given 14 weeks of maternity leave, which can be extended to 18 weeks in the event of a complicated or multiple birth(s), provided the employee has been working under a continuous contract for at least 40 weeks prior to the start of the scheduled maternity leave. The leave should start two to four weeks prior to the expected delivery date.
Paternity Leave
Expecting fathers are given five days of paid leave provided the employee has been working under a continuous contract for at least 40 weeks. Pay is calculated the same way maternity leave pay is calculated.
Parental Leave
Parental leave is also not required by law to be provided.
Termination
Termination Process
Unless an employer can demonstrate adequate justification for a dismissal without notice (due to misconduct, for example), the termination procedure in Hong Kong is conventional and is based on labor law standards.
Written notice of termination must be delivered to the appropriate governmental authorities.
Notice Period
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Although employers may stipulate lengthier notice terms in the employment contract, notice periods in Hong Kong are typically 30 days.
Severance Pay
When an employee is laid off after two years or more of continuous employment, they are entitled to severance payment. The rate of payment is depending on either the average salary rate in the year preceding termination or 2/3 or HKD 22,500, whichever may be less. The total amount is limited to HKD390,000.
Employers are allowed to deduct any gratuities, retirement plan payments, or severance payments from the employee’s obligation to pay them for any years of service for which the severance payment is due.
Probation Period
Probation Period
For permanent employees, the probationary term is generally between one week and one month. However, the employment contract must make mention of it.
Before entering Hong Kong to start a job, foreign nationals often need a visa. The application for an employment visa must be supported by a local sponsor, typically the hiring organization.
A person seeking entry into Hong Kong for employment under the current immigration rules must have a specific skill, knowledge, or value experience that is not easily accessible in Hong Kong.
Unless they have extensive experience in a particular subject or have relevant work experience, a graduate degree is required for applicants who want to work in Hong Kong.
If a foreigner decides to move to Hong Kong with their spouse and dependent, their family will also need dependent visas. Now, a spouse entering Hong Kong on a dependent visa is now permitted to work there without obtaining a separate employment visa.
Immigration
Honduras’ legislation offers many options for foreigners wanting to visit the country for work.
Nationals from countries without entrance visa requirements are permitted to enter Honduras and stay there for up to 30 days. Visa nationals entering Honduras for business purposes must get either a Consular Visa (Visa Consular) or a Consulted Visa (Visa Consultada), depending on their country of citizenship.
Both types of visas are applied for immediately at a Honduran consular office; however, a Consulted Visa cannot be issued until the Honduran Ministry of Foreign Affairs has given its approval.
Both visa-exempt and visa-required nationals may apply to extend their business stay in Honduras for up to 90 extra days for a total of 120 straight days. However, visitors from abroad who come to Honduras on multiple occasions for various business purposes are only permitted a maximum cumulative stay of 180 days throughout the course of a year.
If a foreign national’s anticipated stay is shorter than 30 days and they are not receiving compensation or payments from a Honduran source, they can often engage in work activities without a work permit. A Special Stay Permit with Work Contract is required for foreign nationals who perform paid labor in Honduras. The Special Stay Permit is good for at least one year and, at the authorities’ exclusive discretion, up to five years. The foreign national must submit an application for temporary residency after five years of having a Special Stay Permit.
VAT
There is no VAT in Hong Kong.