Absolute advantage of Hong Kong

Hong Kong is the great gateway to access Asian market. Stepping in Hong Kong as a pedal is smart strategy for most international companies. Hong Kong has an unbeatable prime location in Asia and also has a good connection with the rest of the world. Besides the absolute advantage of the location, Hong Kong has developed infrastructures, flexible circulation of goods, simple and direct tax system and a business-friendly atmosphere. Also Hong Kong ranks as the world’s 3^rd easiest place to do business according to the World Bank’s Doing Business 2020 Report. 

Unique Asian Market

Perhaps you are doing very successful business in European or American Market. However, sticking on your success strategy doesn’t mean it works in Asia. Because the consumer needs, behaviour, practice or regulations are not the same as your market. So, no matter how good it proved in your own place. Still, you need to custom made a new approach for Asian Market. 

Asian Approach

Direct investments in specific areas are also becoming more frequent, often targeting mainland China, or Vietnam. Still, accessing the Asian market from Europe or US comes with some challenges. Entrepreneurs should seek proper advice and bear in mind cultural, tax, and legal factors.

Proper Advice

Middle class is growing rapidly in Asian especially in China. The strong internal consumption is attracting more and more international businesses to share a slice of the cake. China used to be the only option for production or manufacturing industry. Nowadays, the investment on Business Service, Financial Sector and Information Technology are becoming prevailing trend. So, entrepreneurs should get the up-to-date information, understand the market and modify the business strategy by a tailor made approach.

Centre O as a Business Facilitator

Centre O has been lining businesses up by providing helpful resource and connections since 2010. If you want to entering China market. It can be very difficult and intimidating. However, Centre O can assist you with a hand-picked, tightly-knitted network business partners in China. No matter you want to establish a Representative Office or a Wholly Foreign Owned Enterprise. Let Centre O help you to tap into the endless possibilities.

For further information, please contact us.

You may want to read: WHY CENTRE O OFFICES ARE BETTER THAN CONVENTIONAL OFFICE?

Employees’ Compensation Insurance is one of the major business insurance in Hong Kong.  It is a statutory cover for employers and their employees. Its sustainability has wide and deep impact on the protection of the interests of employers and employees as well as the stability of the overall insurance market.

What are the roles of the Insurance Intermediaries?

The Insurance Intermediaries play an important role. Such as conducting business in good faith and with integrity at all times.  Along with explaining to the client the principle of utmost good faith and the obligations of full disclosure. Nevertheless, to make it clear that the client is responsible for the information provided to the insurer.  At the same time, advising the client that any incorrect information or any under-declaration of wage roll during the underwriting process may leave the client open to legal action by the insurer for recovery of monies previously paid by the insurer to indemnify any claim under the policy.

Insurance Brokers are subject to the Guideline on Minimum Requirements for Insurance Brokers. For insurance agents, Employees Compensation Insurance insurers need to ensure that their insurance agents are fully aligned in their understanding and implementation. 

What employer have to consider when purchasing Employee Compensation Insurance? 

When purchasing Employee’s Compensation Insurance based on proper and accurate information on risk exposure. The risk exposure at the forefront of technical underwriting. The minimum and mandatory information required include: 

1. Company information
2. Details of employer’s business activities / profession
3. Information on employment (irrespective of length of employment contract or working hours, full-time or part-time, permanent or temporary employment, work location, occupation or post)
4. Wage roll information with relevant documentary evidence such as Mandatory Provident Fund (MPF) contribution statements, tax return record or accounting records; and
5. Claims history

For further information, please contact us.

You may want to read: LABOR INSURANCE IN HONG KONG

Hong Kong Trademark Registration System is very similar to UK and US system. Many business owners may think once they have their Hong Kong Trademark Registration applied, their logo or brand will be protected. Centre O is not going to upset you. However, the truth is not the same. After your trademark registration is applied in Hong Kong, your logo or brand will received a the territorial protection only. Which means you are not covered outside of Hong Kong. We suggest business owners and entrepreneurs to consider on applying for trademark registration with countries where they have business deals, clients and suppliers in order to receive a full protection worldwide.

Undoubtedly, if you need legal protection with your logo or brand which you have business deals, suppliers and clients in other countries, we do suggest to register a Trademark individually per country that wanted to be protected. 

What is the difference between Hong Kong Trademark Registration and China Trademark Registration?

According to the China Trademark Law, the Trademark Registration is on “First-to-file” approach. This approach means the Trademark grants to the first party to register regardless of evidence of prior use. In order to prevent Trademark squatting and ensure your exclusive trademark rights. Centre O strongly recommends you to take precaution measures as soon as possible to protect your Logo or Trademark.

What information is needed when applying for a Trademark Registration? 

• Business Registration Certificate
• Applicant ID Card Copy
• Countries for Trademark Registration
• Trademark Class
• Details of goods/services
• Full details of Trademark Logo

For further information, please contact us.

You may want to know: UNDERSTANDING CHINA INTELLECTUAL PROPERTY PROTECTION – TRADEMARK PART 1