Hong Kong's Top Talent Pass Scheme, introduced in late 2022, is a strategic initiative designed to attract highly skilled and talented professionals from around the world to work in Hong Kong. This scheme is part of broader efforts by the Hong Kong government to bolster the city's status as a global hub in various high-priority [...]
Hong Kong's Top Talent Pass Scheme aims to attract the world's finest professionals, boasting an impressive uptake since its launch in late 2022. Despite significant enrollment figures, these numbers don't capture the complete efficacy of the program. Amidst the Asian competition for global talent, Hong Kong is rolling out the red carpet to mitigate the [...]
Employers are required to respond to requests for flexible work arrangements within two months, providing reasons if the request is denied. Starting in December, when new tripartite guidelines are introduced, all employers must establish a formal process for employees to request flexible work arrangements. These guidelines stipulate that employers must issue their decisions on such [...]
In accordance with the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment (TAMEMRR), it is imperative that the criteria for selecting employees for redundancy are objective and the process is executed equitably. While adherence to the TAMEMRR is not mandated by law for employers, it delineates recommended practices for progressive workforce management, emphasizing the [...]
Singapore generally allows foreigners to start businesses in Singapore. However, foreigners on certain passes may be restricted from starting or managing their business based on restrictions placed on that pass. Most pass holders are not allowed to manage their businesses in Singapore. This means that they are not allowed to register sole proprietorships or partnerships. [...]
In the realm of business opportunities in Singapore, the pathway to acquiring permanent residency (PR) through investment is open to those willing to infuse capital into the nation's economy and demonstrate entrepreneurial acumen. This avenue, formally designated as the Global Investor Programme (GIP Scheme), is commonly known as the Investor Scheme. For individuals contemplating relocation [...]
Contract of Service A Contract of Service, as defined by the Ministry of Manpower (MOM), is a formal agreement between an employer and an employee. It provides a crucial foundation for both parties, offering security and protection. Essentially, it functions as an employment contract. For employees, this contract ensures a sense of security as it [...]
Variable Components Monthly Variable Component (MVC) MVC acts as an “emergency lever” component to help employers bring down wage costs in the case of sudden and severe business or economic setbacks to survive and save jobs. MVC forms part of the monthly basic salary and it shall be included in computing overtime payment and CPF [...]
Salary payments are governed by the Employment Act (EA). Hence, an employer may only deduct an employee's salary for reasons allowed under the act. Alternatively, he may also do so if there is a court order. According to the act, authorised deductions can be made for the following reasons: For absence from work (without valid [...]
Payroll-related matters in Singapore are regulated by the Employment Act (EA). The EA is applicable to all employees, regardless of nationality, who work under a contract of service. However, it excludes seamen, domestic workers, and individuals employed by statutory boards and the government. All employees under a contract of service with an employer are covered [...]