Hong Kong, being one of the most open economies in the world, is the ideal location for business set-up and company formation. Irrespective of whether you are a local or foreign entrepreneur, it is strongly advised to engage the services of a professional firm such as NNRoad; as we have all the necessary experience in handling ongoing regulatory and compliance requirements and are well versed with the local legislation governing companies.
- Confirm the selection of a business entity type.
- Advise with the initial capital amount, if applicable.
- The business Registration administration process.
- Assist with the Company Secretary service.
- Employees' Compensation Insurance + Office insurance setup.
- Mandatory Provided Fund (“MPF”- mandatory social security fund from employers and employees) account set up
NNRoad is a Professional Employer Organization (PEO) that provides employment solutions to all the firms looking to enter Hong-Kong Market. NNRoad collaborates with foreign businesses with or without Hong-Kong based companies to employ their staff on-site via our employment organization, thereby, simplifying hiring by handling all administrative, legal and HR aspects of the employer, and therefore, acting as the Employer of Record(EOR).
- Hiring and termination of employees/local labor contracts (contract administration - engagement, extension termination and conversion to permanent hire).
- On-boarding and off-boarding employees following Hong Kong labor law practice.
- Complete payroll solution and statutory benefit administration.
- Employee management – employee record retaining, timekeeping, bonus and allowance management, expense and claims, and leave employee database management accordingly to the local law.
- Taking care of legal complexities for the employees according to the Employment Ordinance of HKSAR.
- Local individual income tax reporting, if needed.
Managing Payroll and Human Resources can entail laborious tasks as it consumes a significant amount of your valuable time and effort that could otherwise be devoted to strategic and human resources development activities. Whether it is a large organisation or a small company with a few employees, NNRoad can provide you with fully managed payroll and human resources administration services in a professional manner.
- Registering the necessary company and personnel information for payroll calculation in the payroll software and system.
- Calculation of gross salary, salary deductions (e.g. social insurances, unpaid leaves, etc.), and net salary based on information provided by the Company including irregular payments such as incentive/bonus, allowance, severance, retirement payment, travel allowance paid by welfare committee, etc.
- Pro-rata calculation for people who join and final payment calculation for leavers.
- Providing a monthly payroll summary to the Company.
- Payroll Disbursement - Issuing payment invoice to the Company for payroll distribution to employees.
- Working out the statutory leave payments/adjustments as per the client's company policy and Employment Ordinance of HKSAR.
- Year-End Adjustment and Annual Declaration.
- Tax form- 56B only.
Irrespective of size or nature of your company, managing the financial records is a very integral part of any business. Any company must know the proper allocation and utilization of funds. NNRoad provides solutions for your accounting needs with the team of experienced professionals.
- Full set accounting services in compliance with Hongkong legislations and accounting standard.
- Employer annual tax filing (IR56B), lodging objections and holdover claims.
- Complete IR56E sheet for the new hires.
- Complete IR56F sheet for the terminated employees.
- Complete IR56G sheet for the employees on their leaving Hong Kong for good or for a substantial period of time.
- Preparation of Financial statements and Profit/Loss statements.