Free trade & free enterprise

Free trade & free enterprise

• Free trade & free enterprise

• Little government interference

• Free import and export of capital funds

• Free repatriation of funds

• No foreign currency regulations

• USD 1 pegged at HK$ 7.8

Unincorporated vehicle –sole proprietor

• Unincorporated vehicle –sole proprietor

• General Partnership or Limited Partnership

• Limited Liability Company

• Foreign company registered at HK Companies Registry, Branch office or representative office.

Constitution of Company –Articles of Association

• Constitution of Company –Articles of Association

• Company names and restrictions.

• Form- details of directors, shareholders, secretary (must be individual or HK Company but not sole director), share capital, registered office.

• Business registration application.

• Fees

• 24 hour on line portal

Buy the shares- beware liabilities

• Buy the shares- beware liabilities

• Buy the assets only

• Joint venture

• Agents, distributers, franchise- no regulations

• Pyramid selling Prohibition Ordinance

Business registration within 1 month (for limited Company automatic)

• Business registration within 1 month (for limited Company automatic)

• Opening Bank accounts- KYC

• Mandatory Provident Fund

• Employees Compensation

• Appropriate insurance

• Appointing auditor

• Annual Return to Companies Registry

Salaries tax progressive rates 2-17% (15% max)

• Salaries tax progressive rates 2-17% (15% max)

• Profits tax 16.5%

• Stamp duty on sale of land

• Stamp duty of tenancy agreements & Licenses.

• Stamp duty of transfer of shares

Employment Ordinance applies to all workers except family members working in business and merchant seamen.

• Employment Ordinance applies to all workers except family members working in business and merchant seamen.

• No closed shop trade unions.

• Employees must be locals holding HK identity card

• No-local employees need visa- local sponsor required

• Minimum wage

• No prescribed hours- but one day holiday.

• Basic minimum annual leave 7-14 days depending on length of service

• Mandatory MPF

No social security payments.

• No social security payments.

• Maternity leave 10 weeks, Paternity leave 3 days 4/5 pay.

• Sick leave pay 4/5 (Max 120 paid days)

• Four Discrimination laws

• Sex discrimination
• Disability discrimination
• Family status
• Race discrimination

Severance pay after 24 months by redundancy

• Severance pay after 24 months by redundancy

• Long severance pay after 5 years

• Probation period

• Statutory Holidays in Hong Kong

Probation 1st month no notice

• Probation 1st month no notice

• Probation 2nd month onwards 7 days notice

• Renewal contract with 7 days termination clause – 7 days notice

• Other renewal terms 1 month notice

• Continuous contract – 7 day notice.

• Payment in lieu of notice

Visa on arrival- check from time to time.

• Visa on arrival- check from time to time.

• Visa applications for business –business model- Good Education Background, professional abilities and background

• Workers need to apply for visas through sponsorship and lack of availability of skills in Hong Kong (i.e. Polish and Russian languages skills)- Good educational background

• Import from Poland US$80 million, exports to Poland US$317 million

Non-local graduates may apply under the IANG to stay in Hong Kong for one year to look for a job. Key requirements include －

• Non-local graduates may apply under the IANG to stay in Hong Kong for one year to look for a job. Key requirements include －

• Obtained an undergraduate or higher qualification in a full-time locally-accredited local programme in Hong Kong
• Job offer not required upon entry (for fresh graduates)
• Job is at a level commonly taken up by degree holders and is remunerated at the market rate (for returning graduates)

Anti- competition law (Competition Ordinance 2012)

• Anti- competition law (Competition Ordinance 2012)

• Anti-bribery and corruption laws (ICAC)

• FATCA

• FATAF – Anti- Money laundering

• No double tax treaty -as no tax information exchange agreement can be signed in absence of available HK law to sign same – (1st agreement with USA in March 2014)

ESTIMOTE- Beacons -creating magical experiences in the real world

• ESTIMOTE- Beacons -creating magical experiences in the real world

• Nicolaus Copernicus

• Fryderk Chopin

• Henryk Sienkiewicz

• Marie Curie

• Wladyslaw Reymont

• Czeslaw Milosz

• Lech Walesa

• Wislawa Szyborska

• Karol Wojtyla John Paul II

Arcelor Mittal Steel Poland

• Arcelor Mittal Steel Poland

• Asseco

• CD Project RED –game development

• Techland –game development

• LEOPARD – Roadster car

Copyright

• Copyright

• Trademarks- from EU registered mark or separate

• Patents

• Design Registrations

• Trade Secrets (undisclosed business secrets)

• Layout-Design (Topography ) of Integrated Circuits

• Plant Varieties Protection (Plant Breeders’ Rights)

• Company names are not protected (Passing off action may fail)

A standard patent application in Hong Kong, China is made in two stages by filing:

• A standard patent application in Hong Kong, China is made in two stages by filing:

• a request to record a designated patent application (stage 1) 
• a request for registration and grant (stage 2).

Appearance of product (e.g.: Orange juice extractor)

• Appearance of product (e.g.: Orange juice extractor)

• An application for registration of the design.

• a representation of the design suitable for reproduction.

• applicant's name and address.

• fees.

Copyright Ordinance and common law

• Copyright Ordinance and common law

• Right to original owner (literary and other works)

• No formalities required

• Works of authors from any place in the world, or works first published anywhere in the world, also qualify for copyright protection in Hong Kong. (through ratification of international conventions)

• Civil sanctions and criminal (Customs and Excise Department enforce)

• Parallel imports beware.

Distinctive

• Distinctive

• Descriptive of goods and services

• Well known term in your line of business (difficult)

• Similar trademarks to others (difficult)

Polish Consulate in Hong Kong

• Polish Consulate in Hong Kong

• Poland is signatory to Hague Convention- documents can be notarised and an apostille applied for recognition in Hong Kong.

• Hong Kong Notary can sign and apostille affixed for use in Poland.

Dacha Restaurant – Russian cuisine

• Dacha Restaurant – Russian cuisine

• Hire a junk boat and see the islands

• Go hiking

• SEE YOU IN HONG KONG