Business Administration in Hong Kong SAR

Overview by Globlatrade.net:

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
Sole Proprietorship is an individual company.
 
 
No minimum capital.
1 person
 
 
Individual entrepreneur is liable for debts of the enterprise on personal goods.
HKD 2,250 for annual registration.
Company Limited by Guarantee
 
 
No minumum capital.
minimum 2 partners.
 
 
Their liabilities are limited to the amount of contributions made to the shares of the company;.
HKD 1,000 + HKD 6 to every additional HKD 1,000. (+ HKD 1,150 for annual registration).
Unlimited Company.
 
 
No minimum capital.
minimum 2 partners.
 
 
Their liabilities are unlimited and joint.
HKD 1,000 + HKD 6 to every additional HKD 1,000. (+ HKD 1,150 for annual registration).
Private Limited Company.
 
 
In practice 10,000 HKD minimum.
minimum 2 partners.
maximum 50 partners.
 
 
Their liabilities are limited to the amount of contributions.
HKD 1,000 + HKD 6 to every additional HKD 1,000. (+ HKD 1,150 for annual registration).
Public Limited Company.
 
 
No minimum capital.
minimum 7 partners.
 
 
Their liabilities are limited to the amount of contributions.
HKD 1,000 + HKD 6 to every additional HKD 1,000. (+ HKD 1,150 for annual registration).
General Partnership
 
 
No minimum capital.
minimum 20 partners.
 
 
Their liabilities are unlimited for the debts and obligations of the association.
HKD 2,250 for annual registration.
Limited Partnership.
 
 
No minimum capital.
minimum 20 partners
 
 
At least one partner should have unlimited liability. Liability of other partners is limited to the amount of contributions.
HKD 2,250 for annual registration.
 
Business Setup Procedures
Company registration in Hong-Kong is rather simple. Hong Kong’s Companies Registry and the Inland Revenue Department (IRD) had launched in 2011 a new regime of one-stop company and business registration, together with a one-stop notification of change of company particulars. Companies can now be incorporated online.
The Competent Organization
Company register
Search a Company or a Financial Report
Companies Registry

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Working Conditions

Legal Weekly Duration
Between 40 and 48 hours
Retirement Age
There is no legal age for retirement, but the average age is around 62 years.
Working Contracts
The labor contract is mainly drawn-up by the law. It is completed by collective negotiations and agreements.
The formalism of the labour contract, hiring conditions and lay-off constraints are relatively flexible. CDI and the CDD are the two existing types of contracts.

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Cost of Labor

Minimum Wage
There is no legal minimum wage.
Average Wage
Average monthly gross earnings in Hong Kong is HKD 11.000 (USD 1.400)
Social contributions
Social Security Contributions Paid By Employers: 0 %.
Social Security Contributions Paid By Employees: 0%

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Social Partners

Social Dialogue and Involvement of Social Partners
Hong Kong Confederation of Trade Unions - (HKCTU) gathers several trade unions. Their power remains very weak.
Unions
HKCTU
Hong Kong Federation of Trade Unions (HKFTU)
Labor Regulation Bodies
Labour Department

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