- Country Guide
- Hong Kong
Hong Kong
Last Update by Katie, 01 Jul 2024
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Exchange Rate
18 Sep 2024
Cost of Living
Indicative value for a working adult in a city: Hong Kong Island
Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff
| Living Requirement | Indicative Amount (HKD) |
|---|---|
| McDonalds Set Meal | 50 |
| Monthly Train and Bus Tickets | 500 |
| 3 Bedrooms Rental (City Center) | 36,000 |
| 3 Bedrooms Rental (Outskirt) | 24,500 |
Current Inflation Rate
2.2%
Wage
Minimum Wages
- 40 HKD per hour, or 16,300 HKD per month.
Median Salary
Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.
| Job Level | Monthly Salary (HKD) |
|---|---|
|
Entry-Level
Fresh Graduate
|
20,000 |
|
Mid-Level
5 Years
|
35,000 |
|
Experienced & Managerial Level
10 Years
|
80,000 |
|
Specialized & Senior-Level
15 Years
|
> 100,000 |
Annual Salary Growth
3.5%
Statutory Contribution
Country Level
| Type | Employer Rates | Employee Rates | Notes |
|---|---|---|---|
| MPF | Relevant income (up to 30,000 HKD ) x 5%, capped at 1,500 HKD | Relevant income (7,100 HKD - 30,000 HKD) x 5%, capped at 1,500 HKD | All staff |
Other Benefit
Other common employment benefits in Hong Kong include:
- Private Medical Insurance : Around 500 HKD per month
- Phone Bill Allowance: Around 150 HKD per month
- Transport Allowance: Around 500 HKD per month
Income Tax
Residents
-
Tax period: 1st April - 31st March of the previous year.
Tax filing start date: 1st May of the following year.
Tax filing due date: 31st May of the following year.
Country Level
| Taxable Income | Rate |
|---|---|
| 0 - 50,000 | 2% |
| 50,001 - 100,000 | 6% |
| 100,001 - 150,000 | 10% |
| 150,001 - 200,000 | 14% |
| 200,001 and above | 17% |
Non-residents
- Same rate as residents
Working Hours
Statutory
No regulation for working hours
40/ 48 hours
8/ 9/10 hours a day, 5 days a week
Typical practice
40/ 48 hours
Monday- Saturday
Overtime
No statutory requirements for paid overtime
Employment Contract
Fixed Term / Permanent
No significant differences between a permanent and a fixed-term contract
Contract Format
Written or verbal. Written contracts must be issued to staff and contracts can be in Cantonese, Chinese, English is also accepted
Payroll Currency
HKD
Probation
Optional, typically 1 - 3 months
Contract Period
Permanent: No minimum duration
Fixed-Term: Mutually renewable month to month without limitations
Termination
-
Voluntary resignation:
- 7 days notice verbal or in writing -
Notice during probation for staff and employers:
- 1st months' service: No notice required
- After 1st month's service but before probation ends: 7 days -
Notice after probation for staff and employers:
- 7 days
- Permanent contracts/ contracts that do not specify: 1 month -
Severance:
- Staff with 2 continuous years' service
- Long service payment: up to 5 continuous years' service
- Staff are not entitled to both severance and long service
- Severance and long service are calculated based on length of service, up to 390,000 HKD for either payment
Public Holiday
13 days
Country Level
| Date | Name |
|---|---|
| 01 Jan | New Year's Day |
| 10 Feb - 13 Feb | Lunar New Year's Day |
| 29 Mar - 30 Mar | Good Friday |
| 01 Apr | Easter Monday |
| 04 Apr | Ching Ming Festival |
| 01 May | Labor Day |
| 15 May | Buddha's Birthday |
| 10 Jun | Dragon Boat Festival |
| 01 Jul | Hong Kong Special Administrative Region Establishment Day |
| 18 Sep | Day after Mid-Autumn Festival |
| 01 Oct | National Day of the People's Republic of China |
| 11 Oct | Chung Yeung Festival |
| 25 Dec | Christmas Day |
| 26 Dec | Family Day |
Leave
| Leave Type | Entitlement | Notes |
|---|---|---|
| Annual Leave |
7 working days -1st year of service 8 working days - 3 years' service 9 working days - 4 years' service 10 working days - 5 years' service 11 working days - 6 years' service 12 working days -7 years' service 13 working days - 8 years' service 14 working days - over 9 years' service |
All staff with minimum 3 months' service |
| Sickness Allowance | 120 working days | All staff with permanent contracts |
| Maternity Protection |
14 weeks + 4 weeks for illness/ disability due to pregnancy or confinement |
All expectant mothers with permanent contracts and 40 weeks continuous service |
| Paternity Leave | 5 working days per birth | All expectant biological fathers with permanent contracts and 40 weeks continuous service |
Reference
- https://www.numbeo.com/cost-of-living/in/Hong-Kong
- https://www.gov.hk/en/residents/taxes/taxfiling/taxrates/salariesrates.htm
- https://www.labour.gov.hk
- https://www.labour.gov.hk/eng/public/wcp/ConciseGuide/02.pdf
- https://www.labour.gov.hk/eng/public/ConciseGuide.htm
- https://www.labour.gov.hk/eng/legislat/content2.htm
- https://www.labour.gov.hk/eng/public/wcp/ConciseGuide/09.pdf
- https://www.labour.gov.hk/eng/public/wcp/ConciseGuide/11.pdf
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Contact UsCountry Guide - Hong Kong
Last updated: 01 Jul 2024
Exchange Rate
Currency (HKD)
- 1 CNY = 0.185 HKD
- 1 USD = 1.32 HKD
Other currencies can be retrieved via the country guide link above.
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Labor Cost Calculator
To know the total employer cost for hiring a staff with certain salary, please go to our main site: https://marcopayroll.com
Cost of Living
Indicative value for a working adult in a city: Hong Kong Island
Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff
| Living Requirement | Indicative Amount (HKD) |
|---|---|
| McDonalds Set Meal | 50 |
| Monthly Train and Bus Tickets | 500 |
| 3 Bedrooms Rental (City Center) | 36,000 |
| 3 Bedrooms Rental (Outskirt) | 24,500 |
Current Inflation Rate
2.2%
Wage
Minimum Wages
- 40 HKD per hour, or 16,300 HKD per month.
Median Salary
Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.
| Job Level | Monthly Salary (HKD) |
|---|---|
|
Entry-Level
Fresh Graduate
|
20,000 |
|
Mid-Level
5 Years
|
35,000 |
|
Experienced & Managerial Level
10 Years
|
80,000 |
|
Specialized & Senior-Level
15 Years
|
> 100,000 |
Annual Salary Growth
3.5%
Statutory Contribution
Country Level
| Type | Employer Rates | Employee Rates | Notes |
|---|---|---|---|
| MPF | Relevant income (up to 30,000 HKD ) x 5%, capped at 1,500 HKD | Relevant income (7,100 HKD - 30,000 HKD) x 5%, capped at 1,500 HKD | All staff |
Other Benefit
Other common employment benefits in Hong Kong include:
- Private Medical Insurance : Around 500 HKD per month
- Phone Bill Allowance: Around 150 HKD per month
- Transport Allowance: Around 500 HKD per month
Income Tax
Residents
-
Tax period: 1st April - 31st March of the previous year.
Tax filing start date: 1st May of the following year.
Tax filing due date: 31st May of the following year.
Country Level
| Taxable Income | Rate |
|---|---|
| 0 - 50,000 | 2% |
| 50,001 - 100,000 | 6% |
| 100,001 - 150,000 | 10% |
| 150,001 - 200,000 | 14% |
| 200,001 and above | 17% |
Non-residents
- Same rate as residents
Working Hours
Statutory
No regulation for working hours
40/ 48 hours
8/ 9/10 hours a day, 5 days a week
Typical practice
40/ 48 hours
Monday- Saturday
Overtime
No statutory requirements for paid overtime
Employment Contract
Fixed Term / Permanent
No significant differences between a permanent and a fixed-term contract
Probation
Optional, typically 1 - 3 months
Termination
-
Voluntary resignation:
- 7 days notice verbal or in writing -
Notice during probation for staff and employers:
- 1st months' service: No notice required
- After 1st month's service but before probation ends: 7 days -
Notice after probation for staff and employers:
- 7 days
- Permanent contracts/ contracts that do not specify: 1 month -
Severance:
- Staff with 2 continuous years' service
- Long service payment: up to 5 continuous years' service
- Staff are not entitled to both severance and long service
- Severance and long service are calculated based on length of service, up to 390,000 HKD for either payment
Public Holiday
13 days
2024
| Date | Name |
|---|---|
2025
| Date | Name |
|---|---|
Leave
| Leave Type | Entitlement | Notes |
|---|---|---|
| Annual Leave |
7 working days -1st year of service 8 working days - 3 years' service 9 working days - 4 years' service 10 working days - 5 years' service 11 working days - 6 years' service 12 working days -7 years' service 13 working days - 8 years' service 14 working days - over 9 years' service |
All staff with minimum 3 months' service |
| Sickness Allowance | 120 working days | All staff with permanent contracts |
| Maternity Protection |
14 weeks + 4 weeks for illness/ disability due to pregnancy or confinement |
All expectant mothers with permanent contracts and 40 weeks continuous service |
| Paternity Leave | 5 working days per birth | All expectant biological fathers with permanent contracts and 40 weeks continuous service |
Reference
- https://www.numbeo.com/cost-of-living/in/Hong-Kong
- https://www.gov.hk/en/residents/taxes/taxfiling/taxrates/salariesrates.htm
- https://www.labour.gov.hk
- https://www.labour.gov.hk/eng/public/wcp/ConciseGuide/02.pdf
- https://www.labour.gov.hk/eng/public/ConciseGuide.htm
- https://www.labour.gov.hk/eng/legislat/content2.htm
- https://www.labour.gov.hk/eng/public/wcp/ConciseGuide/09.pdf
- https://www.labour.gov.hk/eng/public/wcp/ConciseGuide/11.pdf
Contact Info
-
Singapore (Headquarters)
8 Marina Boulevard, MBFC Tower 1, #11-01, Singapore, 018981
+65 6653 4334 -
China (Headquarters)
79 Jianguo Road, China Central Place Tower 2, #09-52, Beijing, 100025
+86 10 6580 0555 -
China (Service Center)
23 Dagong Street, Eton Place Tower 2, Unit 1808, Dalian, 116001
-
United States
445 S Figueroa St, 31st Floor, Los Angeles, California, 90071
-
United Kingdom
71 - 75 Shelton Street, London, England GB
-
Netherlands
Vijzelstraat 68, 1017 HL, Amsterdam
-
Australia
Level 22, Salesforce Tower, 180 George Street, Sydney, NSW 2000