On 22 February 2023 the Hong Kong Government announced the budget for the upcoming year 2023/24. The budget outlines where the Government is allocating resources through tax and fiscal policies, as well as support measures.

Here you will find a breakdown of the most relevant budget items for small to medium-sized businesses. We will also cover measures relevant to foreign-owned businesses.

Hong Kong offers a range of government and private funding options to startups. They aim to help entrepreneurs get their businesses off the ground or expand in Hong Kong. Funding ranges from covering initial company registration and operating costs, through to streamlining an existing business and even providing support for international exports. With the right information and resources, you can secure funding to set up your business for success.

When hiring your first employees in Hong Kong, it's important to consider your obligations when it comes to payroll/and statutory requirements. In this article, we give practical advice on the recruitment and hiring process, including remuneration and reference checks.