Hong Kong Government Funding Scheme for Employers – COVID-19

kpcadmin | April 28, 2020 | Uncategorized | No Comments

The Government announced on 8 April 2020 the second round of Anti-epidemic Fund measures which included an HK$80 billion Employment Support Scheme (“ESS”) to help employers retain employees and avoid redundancies. Details of the ESS are as follows:

Eligibility: The Government will provide a wage subsidy to eligible employers to retain employees and avoid redundancy. All employers who have been making MPF contributions for employees (except for Government employees and employees of statutory bodies and subvented organisations) are eligible. An eligible employer will have to undertake that they cannot implement redundancy. The precise terms of the undertaking are not yet known and the devil will be in the details.
Amount: The amount of the subsidy will be based on 50% of the monthly wages of the employee capped at HK$18,000, meaning a maximum subsidy of HK$9,000 per month.
Duration: 6 months.
Form of payment of the subsidy: The subsidy will be paid to eligible employers in 2 payments, with the first being not later than June 2020.

The Government will also grant a one-off subsidy to self-employed persons who made contributions to the MPF.

Details of how to apply for the subsidy are not yet available, and the terms of the undertaking to be given by participating employers will clearly be very important.

More details of the Government announcement can be found here: https://www.coronavirus.gov.hk/pdf/fund/20200408_supplementary_information_en.pdf

Please feel free to contact us for more services details.

About KPC Corporate Services

— Celebrating 11 years of excellence services —

KPC is a professional corporate service provider offering a wide range of business solutions for entrepreneur and start-up companies in Hong Kong.

We specialize in assisting local and foreign entrepreneurs in setting up and managing their business in Hong Kong and China effectively.

Our business services including serviced office, company formation (Hong Kong, China & Overseas), accounting & taxation services, company secretarial service, visas application, trademark registration, payroll & recruitment and IT developments services.

About KPC Business Centre

KPC is a professional business centre at the heart of Hong Kong’s business hub, close to all major transport links. Perfectly located for all your business needs. Using KPC’s business centre saves you time and money. Just contact us to organise what you need, and start trading as soon as you land in Hong Kong.

Since 2008, our business specialists have provided business services to entrepreneurs and start-up companies successfully for the past years. We specialise in assisting foreign entrepreneurs set up and manage businesses in Hong Kong and China cost-effectively. Talk to us before you leave home, and we can have everything organised when you arrive.

KPC’s experts offer professional excellence across all office requirements from virtual and serviced office solutions to company formation, visa assistance and full back up professional services. We love working in partnership with people from all walks of life, from all over the world.

Work in partnership with KPC to grow your business. We are on the lookout for business partners in Europe to help expand our business services. Talk to us about partnership opportunities.

Our Awards and Recognitions

Over the years, KPC has received significant recognition and industry awards that bear testimony to the quality of our services and the achievement of our continuous efforts in providing significant business value to our customer. It also reaffirming our standing as being among the leading business service provider in Hong Kong.

We are proud to share some of our most recent accolades with you.

1- A registered co-working space service provider under the government’s Social Innovation Co-working Space Subsidy Scheme

https://www.sie.gov.hk/en/coworkingspace.page

2- A registered service provider under the One Belt One Road Program

https://beltandroad.hktdc.com/en/service-providers/kpc-international-limited

3- A registered service provider in InvestHK under the government of Hong Kong

https://www.investhk.gov.hk/en/setting-hong-kong.html

4- A Registered Agent No. 1025 & 1026 of the Companies Registry (The government of the Hong Kong Special Administrative Region)

5- A licensed Trust and Company Service Provider (TCSP)

6- An authorized service provider of German chamber of commerce

For more information, please visit https://www.kpc-hk.com/award-recognition.html

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