Entrepreneurship in Hong

Kong 101: Preparation for

the Journey

by Austin Keung
Topic of the Day
1 Protecting Your Business
ECI & MPF

Essentials to a Simple Start

2 Safeguarding Yourself
Explore Hidden Risks You May Not Have Realised

3 Ancillary Support
Unlock the Power of Our Platform to Assist You
Protecting Your Business
Employee Compensation Insurance, MPF
Employee Compensation
Insurance (ECI)
Covers an employer’s liability when staff suffers injury or illness while
working.

Legal requirement for employers in Hong Kong

Notorious for being difficult to obtain

Protection against potential lawsuits

Failure to Secure ECI
Commits an offence and:

Maximum fine of $100,000- and 2-years imprisonment

Surcharge to the Employees Compensation Assistance Fund

Board

Liable to bear the employees’ compensation liabilities for the

employee.
Mandatory Provident Fund
(MPF)
Employees, employers both required mandatory contributions of
5% of the employee’s relevant income

Minimum and Maximum relevant income levels are $7,100 and

$30,000 respectively.

Contribution day is the 10th day of each month.

New Employee: Contribute on the 10th day of each month, after

60 days of employment.
Essentials to a Simple
Start
Three Questions to Pounder on…
If your employees get sick, what is the impact on your business?
Group Medical Policy
Staff are your most valuable assets

Common Employee's Benefit

Increase Competitiveness in Recruitment

What if you, as a director or officer in responsible, is sued personally for
their business decision?
Directors' and Officers' Insurance
Gives financial protection in the event you are sued personally.

Wrongful acts include omissions, errors, misstatements, misleading statements, neglect or

breach of duty, etc

Provide coverage on Monetary Damages and Defence Costs

What if my client sues me for personal injury after using my product?
Product Liability Insurance
Protects against claims for personal injury or property damage arising from products sold
by your business.

Useful for companies that make, supply or sell products to members of the public.
Encourages freedom to innovate and the confidence to sell.
Safeguarding Yourself
What will happen to your legacy, should anything happen to you?
Personal Medical / Critical Illness
Protection
Do you remember details?

Do you know what risks are you being covered?

Do you know if it is suitable for your current situation?
Life Insurance Policy
You should consider if the followings are true / what you want;

1 Breadwinner
Backbone of your family's economy

Death is catastrophic to family finance

2 Eliminate Debts
Entrepreneurship accumulates debts

Debts can transfer to family should you passed away

3 Family Legacy
Want to keep company in family's control

Helps buy back company shares

Consequences of Not Having Insurance
1 Who Wants to Bear Risks?
No / Inadequate Insurance = YOU are your own Insurance Policy!

2 Breaking the Law Directly.

You don't want to break the law, do you?

3 Leaving your Family with No Protections

A simple medical operation / disease can cripple your family's finance.

4 Debts Transffered to your Loved Ones.

No coverage for business debts = potential transferal of debts to family should you
have deceased.
Ancillary Support
Why choose us?
In RA Group, we are;
A local experienced insurance and investment specialists' team

10+ years of funds-investment experience

Rich experience in large insurance providers

Providing various solutions from many insurance providers

Uniqueness in the Market:

First membership programme for clients

magazine featuring third-party collaborators

In-house nurse, medical centres, solicitors and accountants' service

RA Group only membership card for clients
The Odyssey
Unique magazine releasing to our clients

Featuring collaborators and their latest promotions

Aim to provide a platform in which our clients and collaborators

can connect together

Members are counted at 20,000 and growing as of now

Join Us TODAY…
to better safeguard your entrepreneur dream, and to promote your
business on our growing platform!

Please contact 9451-4491 for enquiries regarding the programme /

organise a complementary Risk Management Analysis