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flag Hong Kong Hong Kong: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

Sole Proprietorship is an individual company.
Number of partners: 1 person
Capital (max/min): No minimum capital.
Shareholders and liability: Individual entrepreneur is liable for debts of the enterprise on personal goods.
Company Limited by Guarantee
Number of partners: minimum 2 partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Their liabilities are limited to the amount of contributions made to the shares of the company;.
Unlimited Company
Number of partners: minimum 2 partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Their liabilities are unlimited and joint.
Private Limited Company
Number of partners: At least 1 partner or shareholder with a.
maximum of 50.
Capital (max/min): No minimum capital.
Shareholders and liability: Their liabilities are limited to the amount of contributions.
Public Limited Company
Number of partners: At least 1 partner without maximum.
Capital (max/min): No minimum capital.
Shareholders and liability: Their liabilities are limited to the amount of contributions.
General Partnership
Number of partners: Minimum 2 partners.
Maximum 20 partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Their liabilities are unlimited for the debts and obligations of the association.
Limited Partnership
Number of partners: Minimum 2 partners.
Maximum 20 partners.
Capital (max/min): No minimum capital.
Shareholders and liability: General partners are liable for all debts and obligations (unlimited liability). Liability of other partners is limited to the amount of contributions.
The Competent Organization
Company register
Search a Company or a Financial Report
Companies Registry
 
Setting Up a Company Hong Kong East Asia & Pacific
Procedures (number) 3.0 7.0
Time (days) 3.0 36.0

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Hong Kong.
Trade Register

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The Active Population in Figures

201120122013
Labor force 3,703,0003,826,0003,873,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -60.00%59.00%
Men activity rate 68.90%68.30%68.10%
Women activity rate 52.20%51.00%51.00%

Source: UN - United Nations

 
Employed Persons, by Occupation (% of Total Labor Force) 2008
Wholesale and Retail Trade and Restaurants and Hotels 32.6%
Community, Social and Personal Services 26.5%
Financing, Insurance, Real Estate and Business Services 16.5%
Transport, Storage and Communication 10.7%
Construction 7.6%
Manufacturing 5.4%

Source: ILO, International Labor Organization

 
For Further Information About the Labor Market
Statistics, regarding the education level of households and residents

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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.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
The Statutory Minimum Wage came into force on 1 May 2011 and the initial Statutory Minimum Wage rate is HKD 28 per hour.
Average Wage
Gross average monthly wage of men: HKD 11,870 (source: ILO, 2010);
Gross average monthly wage of women: HKD 10,985 (source: ILO, 2010).
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)
Unionization Rate
The unionization rate was about 23.6% in 2011.
Labor Regulation Bodies
Labour Department

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Last Updates: October 2014