Hong Kong’s New Visa and Property Tax Regulations to Attract Foreign Talents
Hong Kong is lowering property taxes and relaxing visa requirements for non-permanent residents to draw in international talent and resurrect the city’s reputation as a global financial center. The new measures address the current workforce shortage while simultaneously developing the local talent base and closing the skills gap.
Romania: Substantial amendments to the Romanian Labour Code
Romania's Labour Code has been amended following the transposition into national law of a series of European Directives.
Among the most important amendments:
- New mandatory provisions are to be included in individual employment contracts.
- With regard to the existing right of employees to work for different employers under different employment contracts, the lawmaker now requires that their working hours cannot overlap.
- A prohibition on establishing a new probation period if, within 12 months, a new individual employment contract is concluded between the same parties for the same position and with the same duties.
CENTRAL ASIA HAS MOVED UP THE PRIORITY LIST
Christian Tegethoff, Managing Director, CT Executive Search
In terms of recruitment, what kind of assignments are you mandated with in Uzbekistan?
For most of our clients, Uzbekistan is primarily interesting as an export destination. The country is a major buyer of agricultural technology and also offers potential for a range of other consumer and capital goods.
Accordingly, our customers with business connections to Uzbekistan mainly pursue sales and service activities, the construction of production plants is still the exception. However, we expect that Uzbekistan, with its almost 35 million inhabitants and a favorable geographic location, will become a more important production location for the European economy in the future.
The west is a prefered economic partner in Uzbekistan
Hovsep Voskanyan, Delegate of German Business in Central Asia (AHK Central Asia)
How is the German economy represented in Uzbekistan today?
We have around 225 German companies on site, and their number is growing slowly but surely. Most maintain sales offices. But there is also a significant number of German companies currently investing in the region, among which are Knauf with its three plants in the building materials sector, Lemken and Claas in the agricultural technology sector, Volkswagen and MAN with production in Bukhara. Deutsche Kabel AG operates a plant in Tashkent and recently opened another location where fiber optic cables are produced.
Cambodia Opens Foreign Employee Quota Application for 2023
Cambodia has opened the foreign employee quota application for businesses for 2023. Businesses that want to hire a foreign employee must apply for this quota before obtaining a work permit for the employee.
Under the quota system, only 10 percent of a Cambodian company’s total workforce can be foreign nationals. The deadline for the foreign employee quota application ends at the end of November 2022.
Uzbekistan: A LOT HAS BEEN DONE IN THE LAST FIVE YEARS
Falk Porsche, Owner and shareholder, Falk Porsche Technik GmbH and Deutsche Kabel AG
What would you recommend to an international company interested in the Uzbek market?
The global production and supply chains are being redefined today due to the changing geopolitical situation. Entrepreneurs are looking for alternative suppliers and growing markets. We are ready to share our experience with regard to investment in Uzbekistan. This applies in particular to copper and glass fiber products, as well as various steel wire products.
THE INDO-GERMAN MAGAZINE JULY/SEPTEMBER 2022
A Guide to Minimum Wage in India in 2022
The minimum wage in India has for a long time been regulated under the purview of the Minimum Wages Act, 1948. This will now be subject to the provisions of the Code on Wages Act, 2019, which was notified in August 2019.
In fact, the Code on Wages Act replaces four labor regulations – Minimum Wages Act, 1948; Payment of Wages Act, 1936; Payment of Bonus Act, 1965; and Equal Remuneration Act, 1976.
The new wage code prohibits employers from paying workers less than the stipulated minimum wage. Further, minimum wages must be revised and reviewed by the central and state government at an interval of not more than five years.
Lithuania: Non-payment of wages the most common reason for labour disputes
The State Labour Inspectorate (SLI) has published the semi-annual report on the activities of the Labour Dispute Commissions (LDC) for the first half of 2022. Most of the requests to the LDC concerned workers’ remuneration.
The LDC is a governmental, pre-judicial body in Lithuania to which the parties to a labour dispute can turn. According to the published information, the LDC issued a total of 6 157 (in the second half of 2021, the number was still more than 6 800) decisions on requests submitted by claimants, of which 4 647 (about 75%) decisions concerned remuneration disputes.
The AHK India 66th Annual review
AHK India 2022 Annual Review
Incorporated in 1956, the Indo-German Chamber of Commerce is the primary contact for Indian and German companies who want to do business with each other. In addition, we act as a voice for the Indo-German business community at various levels. Our Annual Review covers all the important and relevant activities of the Chamber over the previous year covering all the Chamber events, Trade Fairs, IGTC, and much more.
Czech REpublic: Intentionally faking work performance may constitute a particularly gross breach of employee’s duties
According to the Czech Republic Supreme Court, intentionally faking work performance may constitute a particularly gross breach of employee’s duties.
The decision by the Supreme Court of 20 May 2022 that is at the heart of this article (21 Cdo 424/2021) addresses, among other things, the issue of employees deliberately faking work performance for the employer, and arrives at interesting conclusions especially for employers who seek clarification how severe a breach of work obligations by the employee must be in order to justify the (possibly summary) dismissal of the employee on grounds of a violation of statutory duties related to their work.
All Roads lead to Kazakhstan – or do they?
CT Executive Search Press Release
What opportunities lie in wait for European investors, and how will the country’s economy and job market evolve in the coming years?
These are the questions that were addressed at the webinar titled “Kazakhstan – Status Quo and Economic Perspectives”, organised by Bundesverband mittelständische Wirtschaft (BVMW), CT Executive Search and SCHNEIDER GROUP.
“Kazakhstan has become a very attractive location for many European companies, looking to significantly expand their operations in the CIS. For qualified candidates interested in executive positions, this is definitely a market to consider – demand for top level executives continues to increase and the salaries are extremely lucrative. Already, CT Executive Search has successfully helped several companies in the manufacturing, agricultural and IT sectors in Kazakhstan, recruit highly qualified personnel who can work successfully on the local market while being familiar with the specifics of an international company. Our highly qualified and experience team of HR experts is always ready to provide the same high quality recruitment services to all companies looking to do business in Kazakhstan.” - says Christian Tegethoff, Managing Director, CT Executive Search.
Keeping up with Romania’s Economic Growth
CT Executive Search Press Release
Romania’s economic growth shows no signs of slowing down as investors continue to pour in and companies expand their business operations. What are the legal aspects of doing business in Romania? How are companies addressing the ever-increasing labour shortages? And where should recruiters look for suitable candidates?
These are the questions that were addressed on the 14th of September at the webinar organised by AHK Romania, CT Executive Search, Elite Searchers and STALFORT.Legal.Tax.Audit.
“Given Romania’s highly skilled workforce, proximity to other European markets, and favourable conditions for setting up a business, it is an ideal nearshoring location for Germany and other European countries alike. As in most Eastern European countries, there is currently a clear shortage of workers in Romania. CT Executive Search continues to work closely with companies doing business in Romania, in identifying the ideal candidates for management positions. We also work closely with our clients in developing the right HR strategy to ensure that only the best talent is recruited, and proper attention is given to talent development and retention” – says Christian Tegethoff, Managing Director and Founder, CT Executive Search
What Content Should Be Included in All Employment Contracts in China and the UK?
When it comes to signing an employment contract in China, there are a few key things that you should always include.
This information is essential for both employers and employees, so it’s important to know what’s required before signing on the dotted line.
Talent Acquisition After the Pandemic in India: Tips for HR and Recruitment
As employers in India confront trends like ‘quiet quitting’, this update examines changes to recruiting in the post-COVID era and discuss smart strategies for enterprises to benefit from the shifts in work attitudes and employment priorities. Flexible hiring practices, customized work assessment policies, and effective employer branding will allow enterprises to attract the best talents and achieve staff loyalty. Companies may also need to opt for a more distributed workforce and adopt telecommuting. While retaining their traditional workforce, this new flexibility in recruitment policies will help enterprises cast a wider net for skilled and “compound” talents, who may have previously been unavailable due to mobility and location challenges or time constraints.
Lithuania: Amendments to the Labour Code enter into force in stages
The first part of the legislative package came into force on 1 August 2022. Others will follow in the coming months.
The majority of the changes adopted are aimed at better reconciling employee’s work obligations with their personal or family needs.
Parts of the legislative package therefore include additional rest days for certain employees, an extended right to part-time work and telework, and better protection against dismissal and discrimination.
Vietnam’s Tech Startups: Human Resource Challenges
Vietnam’s startup environment is dynamic and is rapidly growing. However, human resources are one of several challenges for tech start-ups. Vietnam Briefing addresses key issues in tech startup talent and approaches for attracting and retaining them.
Drafting a Contract of Employment in China and the UK (Minimum Requirements)
A firm understanding of China’s laws and regulations related to Labor Law is essential for British and Irish investors who want to establish or are already running foreign-invested entities in China, as well as for local managers and HR professionals who may need to explain complex points of China’s labor policies.
LABOUR SHORTAGES ARE STILL AN ISSUE
Roland W. Schacht, Regional Manager Central Europe and Managing Director, Schmitz Cargobull Romania
Could you shed more light on Schmitz Cargobull’s activities in Romania?
Why was the Bucharest location chosen at the time? In Romania, we maintain a sales subsidiary that deals with the sale of new and used vehicles and the spare parts business. We have a total of 35 employees in Romania, the country headquarters is in Bucharest. Our sales network is distributed throughout the country.
THE ROMANIAN DIASPORA IS AN INTERESTING RESERVOIR OF CANDIDATES"
Christian Tegethoff, Managing Director, CT Executive Search
What are the current trends on the Romanian job market?
As in most Eastern European countries, there is a clear shortage of workers of all kinds in Romania.
In addition to structural reasons, there are some current causes for this. The Romanian economy has largely overcome the problems of the Covid period and is experiencing a considerable recovery. Foreign and local companies are recruiting heavily. The trend towards "nearshoring" makes Romania interesting again as a production and more efficient location.
ROMANIA IS NO LONGER JUST AN EXTENDED WORKBENCH
Sebastian Metz, Executive board member, German-Romanian Chamber of Industry and Commerce (AHK Romania)
AHK Romania, the largest bilateral chamber of commerce in Romania, is celebrating its 20th anniversary this year. What role does it play in the local economy?
The year 2022 is a special year for AHK Romania, because we are celebrating 20 years of successful activity as AHK. A lot has happened in these 20 years, both for us as AHK, for our large bilateral business community, as well as for Romania - the country is developing more and more from a "simple" production location to an innovation location. We are currently registering a particularly high level of interest in Romania - a location that is not yet well known everywhere in Germany and that is unfortunately sometimes, often wrongly, still viewed in a slightly negative light.
Vietnam’s Visas and Work Permit Procedures
Vietnam reopened its border to foreign visitors and workers from March 2022 while seeking to simplify entry procedures to boost the economy. After making amendments to the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam in July 2020, Vietnam has recently updated some relevant details, which foreigners and businesses should be aware of.
The Philippines’ 2022 Strategic Investment Priority Plan
The Philippines extended and expanded the tax incentives for a wide range of industries under the 2022 Strategic Investment Priority Plan (SIPP). The selected industries are those the government deems to be critical to the country’s development such as artificial intelligence, and high technical manufacturing.
Incentives in the SIPP take the form of income tax holidays (ITH), enhanced deductions (EH), and a preferential five percent corporate income tax rate (CIT).
Hiring Foreign Employees in China: A Quick Checklist of Requirements
Since June 2022, China has been relaxing some of its most stringent travel restrictions, including PU letter exemption for the application of Z-visa (work), M-visa (business), and F-visa (visitor), the shortened quarantine time for inbound travelers from the 14+7 model (14 days of centralized quarantine and 7 days of home quarantine) to a 7+3 model (7 days of centralized quarantine and 3 days of home quarantine), and the simplification of the work permit application process for foreigners.
All these updates indicate that mainland China has finally started to reopen its border and employers can generally resume the normal recruitment and employment of foreign employees.
An Introduction to Import, Export and Investment Incentives in Vietnam
With a strategic geographical location, a competitive workforce and a range of cost-saving opportunities, Vietnam is considered an attractive investment location for foreign investors.
In this context, the Vietnamese government has continuously improved business conditions through reforms and the improvement of investment incentives, making the country more attractive to foreign investors. This update explores what benefits foreign investors can reap, including the tax and import/export incentives available.
