Here are Hong Kong’s statutory updates for 2025.
Effective May 2026
Annual Review of Statutory Minimum Wage
The statutory minimum wage, last increased to HK$40 per hour in May 2023, will undergo an annual review starting from 1 May 2026. This change aims to ensure regular adjustments to the wage floor in line with economic conditions.
Source: Labour Department
Effective July 2025
Hong Kong Exchange Implements Enhanced Corporate Governance Code
The Hong Kong Stock Exchange (HKEX) will introduce updated Corporate Governance Code measures from July 2025, focusing on transparency, board diversity, and enhanced stakeholder engagement.
Key Updates:
- Board Diversity:
- Listed companies must disclose clear diversity policies and measurable objectives, including gender representation on boards.
- Aim for 30% female representation on boards by 2030.
- Environmental, Social, and Governance (ESG) Disclosures:
- Enhanced requirements for sustainability reporting, aligning with international ESG standards.
- Independent Directors:
- Strengthened independence criteria for directors, including restrictions on tenure beyond nine years.
- Stakeholder Communication:
- Companies must establish formal channels for investor and stakeholder feedback.
Source: HKEX
Effective May 2025
Removal of MPF Set-Off for Severance/Long Service Payments
From 1 May 2025, employers in Hong Kong will no longer be able to offset mandatory provident fund (MPF) contributions against statutory severance or long service payments for amounts accrued after this date. To assist employers, the government has allocated HK$33 billion to subsidise part of these liabilities over the next 25 years, with decreasing support each year. This change will also heighten the importance of “unreasonable dismissal” protections under the Employment Ordinance, making severance payments more relevant for employees with over two years of service.
Source: Labour Department
Effective March 2025
Hong Kong Updates Talent Admission Schemes
The Hong Kong SAR government has introduced key changes to the Top Talent Pass Scheme (TTPS) and Quality Migrant Admission Scheme (QMAS) to attract global talent.
Key Details:
Top Talent Pass Scheme (TTPS) Updates:
- Visa Renewal Period Extended: Holders can now submit renewal applications up to three months before visa expiration (previously four weeks).
- Expanded University List: 13 new universities from Mainland China and overseas added, increasing the total to 198 eligible universities.
- Longer Visa Validity for High Earners: Category A applicants earning HKD 2.5 million+ annually will now receive an initial three-year visa.
Quality Migrant Admission Scheme (QMAS) Updates:
- New Scoring System: The General Points Test now features a 12-criteria evaluation, streamlining the application process.
- Simplified Language Requirements: Applicants must prove proficiency in two languages, with no specific Chinese language requirement.
- No Annual Quotas: The scheme now operates without a fixed annual limit.
These changes aim to increase flexibility and expedite processing for skilled foreign professionals.
Source: Fragomen
Effective February 2025
Hong Kong Introduces Revised Fee Structure for Specified Admission Schemes
The Hong Kong Immigration Department has implemented a new fee structure for visa applications under specified admission schemes, introducing both application and visa issuance fees.
Key Details:
- Application Fee: HKD 600 per application for entry, change of conditions of stay, or extension of limit of stay.
- Visa Issuance Fee:
- For stays up to 180 days: HKD 600
- For stays exceeding 180 days: HKD 1,300
These fees apply to principal applicants and their dependents under the following admission schemes:
- Top Talent Pass Scheme
- General Employment Policy
- Admission Scheme for Mainland Talents and Professionals
- Quality Migrant Admission Scheme
- Immigration Arrangements for Non-local Graduates
- Admission Scheme for the Second Generation of Chinese Hong Kong Permanent Residents
- New Capital Investment Entrant Scheme
- Capital Investment Entrant Scheme
- Technology Talent Admission Scheme
- Vocational Professionals Admission Scheme
Source: BAL
Effective January 2025
Hong Kong Mandates Online Visa Applications
The Hong Kong Immigration Department (ImmD) will require online submission for certain visa and entry permit applications, eliminating in-person, mail, and drop-box submissions.
Key Details:
- Affected Visas:
-
-
- General Employment Policy (including investment as entrepreneurs).
- Admission Scheme for Mainland Talents and Professionals.
- Capital Investment Entrant Scheme.
- Training & Working Holiday Scheme.
- Residence as Dependents.
-
- Online Process:
-
-
- Applications must be submitted via the ImmD Mobile App, ImmD website, or GovHK portal.
- Digital submission, payment, and e-Visa issuance will replace in-person processing.
-
- Impact:
-
- Reduces waiting times and enhances transparency.
- Eligibility and approval processes remain unchanged.
Source: Fragomen
Hong Kong Implements Global Minimum and Top-Up Tax
Hong Kong will introduce a 15% Global Minimum Tax and a Domestic Minimum Top-Up Tax for multinational enterprise (MNE) groups, aligning with the OECD’s Base Erosion and Profit Shifting (BEPS) 2.0 framework.
Key Details:
- Eligibility: MNE groups with annual global revenues of €750 million or more, as reflected in the consolidated financial statements of the ultimate parent entity.
- Purpose: To ensure MNEs pay a minimum tax rate on profits earned in Hong Kong, bridging the gap between the existing tax rate and the global minimum rate.
These measures aim to maintain Hong Kong’s tax competitiveness while complying with international standards.
