Employer Of Record Payroll Services In Hong Kong

• Hassle-free international employment
• Work adhering to the local employment laws
• Error-free payroll processing

Hong Kong Payrolls Are Now In Trustworthy Hands

Hong Kong is one of the fastest-growing economies and one of the most important financial centers that attracts multinational companies consistently for several years. A highly qualified workforce with excellent education makes Hong Kong the hotspot for entrepreneurs.

However, onboarding and offboarding employees in Hong Kong is not an easy task. Numerous hurdles, such as complying with the HK local laws and regulations, make global workforce management difficult. Registration with the Inland Revenue Department (IRD), Employee Compensation Insurance (ECI), and Mandatory Provident Fund (MPF) is a checklist to be completed before initialization of the payroll and hiring employees overseas.

With Edge’s global employer of record services, businesses can swiftly grow in Hong Kong without having to worry about setting up local subsidiaries of their own. Hiring a global workforce is facilitated by our professional employer organization (PEO) service in Hong Kong, which guarantees employment laws compliance in Hong Kong. We assume legal obligations as the legal employer of record provider in Hong Kong since we will be onboarding employees and ensuring their satisfaction. This keeps you in charge of your employees while allowing you to concentrate on the daily operations of your company.

Also, the social security and income taxes are precise and stern. Hence, you have to dedicate a huge amount of time as well as the cost to deal with the employment processing in Hong Kong. Keeping an expert local employer of record service provider in Hong Kong is always appreciable. If you are in search of such a trustworthy employer of record services in Hong Kong, search no more. Selecting the right EOR partner in Hong Kong is as easy as signing up with Edge.

Hire Employees Anywhere In Hong Kong With Edge

Outsourcing is becoming more common, thanks to the numerous benefits of utilizing an employer-of-record solution. However, finding the right employer of record service provider can be challenging. This is where Edge comes in. With our numerous years of experience and in-depth knowledge of the industry, we have extensive expertise in offering global payroll processing and employer of record services in Hong Kong. We primarily aim to understand your business requirements to provide you with the most ideal solutions, whether that’s assistance to hire and pay employees overseas or maintain local compliance. We are well-equipped with a global workforce of international employment professionals to ensure the best service.

If you ever wonder how we can make you comfortable, here are the answers.

Focus on Your Core Business

Processing payrolls, HR functions, filing taxes, etc., are very important and must be done on time. With Edge as your Hong Kong employer of record/ EOR services provider, you can focus on growing your business in multiple countries and improving employee productivity without the worries of payroll administration and local employment compliance.

Local Expert Guidance

If you are a foreign company trying to establish in Hong Kong or a native company, it is necessary to know about the pros and cons of locally compliant labor contracts in the nation. Edge assures proper communication with our clients, thus preventing errors due to communication gaps. It helps to make the services accurate and transparent.

Flexible Services

At Edge, we believe understanding the client’s requirements and their business is the first step of global expansion. We work for small businesses, start-ups, and multinational companies. Whatever your EOR services needs are, Edge is always ready to help you. We offer employer-of-record services at the best price available in the market and by lowering your investment and risk.

Guaranteed Security To Your Data

The employee data transferred by our clients are considered with utmost importance and securing it is one of our core functions. We ensure the safety of databases by end-to-end encryption.

How Does Edge’s Employer Of Records Services Work In Hong Kong?

Hong Kong is very stringent in the income tax and social security of the citizens. Even a small mistake can result in a huge penalty or even lead to the cancellation of a license. Therefore, it is very important to prepare and file the taxation accurately and in a timely manner. When you choose Edge as your employer of record provider, we provide a large number of HR tasks under a single roof.

By becoming your employee’s legal employer in the intended country of expansion, Edge does everything from ensuring a positive work environment to accurate wage calculations, benefits administration, global expansion, and more. This makes it feasible to enter new markets using employer-of-record services without needing to set up a corporation. In addition, we can help you by offering global employment services while you’re aiming for international expansion in Hong Kong.

Employee Income Tax

The payment of income tax on employment income is mandatory in Hong Kong regardless of whether the employees and international workers or not. The only exception is for the foreigners who are temporarily staying in Hong Kong for work. They are exempted from local taxes if they spend only 60 days or less in Hong Kong within a tax year.

The taxes are levied at progressive rates ranging from 2% to 17% of the remuneration of the employee. It includes salary, commissions, bonuses, and other allowances. The MPF paid by the employee is exempted from income tax up to a maximum of 18,000 Hong Kong dollars (HKD) per year. Charitable donations, contributions to the Voluntary Health Insurance Scheme (VHIS), education expenses, etc. are also deduced.

The MPF paid by the employee is exempted from income tax up to a maximum of 18,000 Hong Kong dollars per year. Double donations, contributions to voluntary health insurance schemes, education expenses, etc., are also deducted.

Easy Transactions

Hiring Edge, as your professional employer organization in Hong Kong, helps pay cross-border employees with their currencies. We’ll make it happen!!!

Employment Contracts

Hiring an employee in Hong Kong must be on par with HK local laws and regulations. However, there are no strict rules for labor contracts in Hong Kong. It can either be oral or written. Edge always opts for written employment contracts in either English or Mandarin. This employment contract letter includes the job descriptions, responsibilities, terms of employment, salary, additional benefits, and compensation included in it. At Edge, you can hire global team employees with confidence in Hong Kong.

Leaves In Hong Kong

Hong Kong is a nation with an appreciable number of public holidays. The public holidays celebrated annually are mentioned below:

• New year’s day
• New Year’s observed
• Lunar new year’s day
• Second day of the lunar new year
• Third day of the Lunar New Year
• Fourth day of the Lunar New Year
• Tomb-sweeping day
• Good Friday
• Holy Saturday
• Easter Monday
• Labor day
• Buddha’s birthday
• Dragon boat festival
• Hong Kong Special Administrative Region Establishment Day
• Day after the mid-autumn festival
• National Day of the People’s Republic of China
• National Day of the People’s Republic of China, observed
• Chung Yeung festival
• Christmas
• The first weekday after Christmas day

Mandatory Provident Fund

The mandatory Provident Fund (MPF) is Hong Kong’s social security system. It is a retirement protection pension scheme that adds to the confidence of the citizens. The employees, employers, and self-employed persons are covered under the MPF. It is 5 % of the wage, in the condition that the minimum wage is $1,700 and the maximum is $30,000. MPF is a legally stated contribution that must be paid monthly.

Hong Kong Labor Laws

Hiring employees in Hong Kong must comply with local labor laws. We prepare the contracts and clauses in compliance with local labor laws to ensure that the operations are getting smooth. Edge has a global mobility team to hire talents globally. Any clause, such as any fixed commission structure, bonus incentive, etc., must be provided in a separate addendum. The contract must contain the job descriptions, responsibilities, compensations, benefits, grievance procedures, etc. Edge’s employer of record services in Hong Kong assures you that your hiring procedures are compliant with local labor contracts.

Work Bonus For Employees

Granting a 13th-month salary to the employees is a usual practice in Hong Kong. But, this is not mandated by any law. Other annual bonuses are also granted if the Hong Kong economy is performing well.

Other Added Benefits

Hong Kong has a well-equipped public health care system. It is not mandatory to have health insurance in Hong Kong. However, having health insurance in Hong Kong is an added advantage.

Another advantage of the employees in Hong Kong is that they are assured of 7 days’ vacation per year if he or she has been working there for a year. One additional day of vacation is added on every year until 14 days’ vacation. The employer must provide the employees with guaranteed benefits. Edge’s EOR service will help to make the process easier.