Focus on India: Current developments in the labor market - experience report
China Relaxes Entry Restrictions for Foreigners Inoculated with Chinese Vaccines
Chinese vaccine beneficiaries to access visa relaxations
According to the notices, starting March 15, 2021, travelers who have received Chinese COVID-19 vaccines and obtained the vaccination certificate will enjoy facilitation for visa applications.
Visa application by foreign nationals to resume work in China
WHAT IS HAPPENING IN CHINA?
CT Executive Search press release
“China holds a wealth of opportunities for potential investors, and those looking to set up operations in in the country. CT Executive Search has helped many companies find the ideal candidates, both local and expatriate, who have taken their respective companies’ operations to new, and impressive levels of success.” – Christian Tegethoff, Managing Director, CT Executive Search
On 18th March 2021 internationally renowned professionals came together to take a close look at the current HR and business trends in China at the webinar organized by CT Executive Search and Dezan Shira & Associates.
Christian Tegethoff, Founder and Managing Director, CT Executive Search spoke about China’s current state of the economy, pointing out that China was one of the few markets to bounce back in 2020 following the global lockdown. He then proceeded to shed more light on the HR trends post COVID-19, highlighting the top 5 trends to watch out for when it comes to China, as well as executive recruitment in 2021.
China - Individual Income Tax, Social Insurance, Labor Contracts Management
Riccardo Benussi, Head of European Business Development, Dezan Shira & Associates
Executive recruitment in China
Online Webinar: HR Trends in China - Executive Recruitment, Income Tax, Labour Contracts, Benefits
What does working in China entail? What’s the prognosis in terms of executive recruitment? And what should HR departments and potential employees expect when it comes to benefits, taxation, and the employment of foreign nationals?
These and other HR related questions will be discussed in detail during the joint Dezan Shira & Associates and CT Executive Search webinar.
Date: 18 March 2021
Time: 9:00 am – 10:00 am CET (Berlin time)/16:00 – 17:00 CST (China time)
Participation: free of charge
- Riccardo Benussi, Head of European Business Development, Dezan Shira & Associates
- Christian Tegethoff, Managing Director, CT Executive Search
Topics covered include:
- Trends in executive search and opportunities for expatriates in China;
- Taxes and insurances: Tax residency rules; Individual Income Tax (IIT) for locals, foreigners; IIT deductions and benefits; Social Insurance and Housing Fund;
- Guidance and key considerations in drafting a labor contract
Bringing on board the right Managing Director is critical
Arjun, can you comment on the recruitment activity of foreign companies in the last twelve months? How do you see the market developing in 2021?
Arjun Erry: As we look back at our mandates over 2020, the threads we can discern are the acceleration of succession planning and the continued appetite for executive recruitment in niche sectors.
In both of these situations, the ownership of the company i.e., foreign or domestic, did not have a material bearing. We observed and participated in several situations where the organizations viewed the pandemic as a catalyst for making transformative changes to their executive leadership.
India is an entrepreneur-friendly country
Ursula Hoffmann, Senior Consultant at Roedl & Partner India‘s office in Mumbai
What innovations will the Indian labor law reform bring?
After 20 long years, the Indian Government has finally passed labor law reforms that are intended to codify the outdated and socialist labor laws and, above all, make them uniform. This long-awaited step is intended to resolve the tension between employer and employee interests. The new regulations are only able to achieve this to a limited extent.
As of April 2021, four new Labor Codes are expected to come into force in India, which will unify a total of 29 individual Acts:
- Code of Wages, 2019;
- Code of Social Security, 2020;
- Occupational Safety, Health and Working Conditions Code, 2020; and
- Industrial Relations Code, 2020.
India is THE market to be in
What’s your economic outlook for 2021? The Union Budget 2021-22 is seen as an overall pro-growth budget and was presented for the first time in a digital format. This budget has not only received a “thumbs up” from the stock markets, but also from the people and industry, as it does not intend to raise additional taxes.
Unpredictable circumstances, foreign direct investments lower than expected, a difficult economic environment and the global pandemic are addressed in the Union Budget.
The 2021 Economic Survey predicts that India‘s economy will contract by 7-8% in 2020-21, and will recover by 10-12% during 2021-22 only if there is a nationwide vaccination and a rebound in consumer demand.
BUSINESS OPPORTUNITIES AND HR TRENDS IN UAE
CT Executive Search Updates
On the 23rd of February IHK Karlsruhe held a webinar on the business opportunities and HR trends in UAE.
Moderated by Stanislav Fromm, Senior Consultant Foreign Trade, Foreign Trade and International Relations, the event began with an opening address from Robert W. Huber, Chairman, Foreign Trade Committee, IHK Karlsruhe.
Christian Tegethoff, Managing Director, CT Executive Search focused on the current HR trends, an overview of the labour market and recruitment of executives in the Gulf States.
IRAN: The trend is becoming increasingly positive
Dr. Alireza Azimzadeh, Founder, Persia Associates, Persia Consulting and Persia Financial
How do European companies currently operate in Iran?
For the past three years, companies have mainly waited and hoped that business could go on at some point.
We manage a large number of „sleeping“ subsidiaries in legal and accounting terms. The central point is the representation vis-à-vis the tax authorities. These corporate hulls can be reactivated at any time if the parent company wants to resume operations in Iran.
FIRST EMPLOYER TO KICK OUT VACCINATION REFUSERS
Are employers entitled to impose a corona vaccination?
Labour law sanctions in case of refusal of vaccination
Can employees who refuse vaccination be faced with sanctions under labour law? According to the press in recent days, there have already been the first terminations of employment.
Employers in China Should Prepare for Compliance Expectations Under Draft PIPL
The purpose and necessity of legislation for personal information protection is simple and straightforward, that is, it is our right as individuals to have our personal information and privacy protected, especially given the speedily developing electronic world with widely used networks. Yet, the laws protecting personal information are not simple for us to digest; you may agree with the complexity if you have reviewed or studied, for example, the General Data Protection Regulation (“GDPR”) of the European Union.
India’s New Industrial Relations Code and its Impact on Labor Law
The IR Code is one of four new labor codes introduced for the purpose of simplifying and consolidating the country’s matrix of labor laws, which in turn will make it easier to comply with for foreign investors and the private sector.
Altogether, the four codes look at introducing uniformity in rules and regulations relating to wages, industrial relations, social security, and occupational safety and health to be in line with international best practices.
Iran's HR Sector: Momentum can develop quickly
How does executive search in Iran differ from other countries?
Companies that want to invest in Iran are now in a better position to do so, from an HR perspective, than during the boom in 2016 and 2017. Back then, the HR market belonged to the candidates. Today, it is on the side of the employer.
Attracting and retaining motivated and highly qualified employees to executive positions is therefore relatively easy for foreign companies. However, the number of executives available in Iran who are qualified to work in an international company is relatively small.
Digital nomads will find their legal basis in Slovakia
Slovakia modernises ‘home office’ rules under Employment Law. Digital nomads, or the choice of any place of work in employment contract by employees, will become a reality.
The amendment to the Labor Code, which is already before the Slovak Parliament, will significantly modernise the legal institution of ‘home office’. Due to new modern trends, where the permanent presence of employees at the workplace is increasingly dispensed with, the conditions for home office work will be redefined. A home office will no longer be seen as just working from home, but rather employees will have a way to determine their own working hours and actual work location. Digital nomads who move around the world (without having a home) and working from anywhere will finally find their legal basis. In addition, the employer will have to share the costs of employees associated with a home office, such as BYOD costs, electricity costs, high-speed internet, and so on.
The outcome of the US election has clearly had a positive effect on the economy
Abbasali Ghassaei, President, German-Iranian Chamber of Commerce and Industry (AHK Iran)
How many German companies are represented in Iran today?
Membership in AHK Iran is growing steadily. Currently, we have over 2, 000 members. Despite the sanctions placed by the USA, since in 2018, the number of members has continued to increase. Iranian entrepreneurs are very interested in Germany. Currently, we have around 100 German member companies. Some of them have been members of AHK Iran for over thirty years. In Iran itself, the number of economically active German companies has decreased significantly due to the US sanctions and their effects on non-US companies.
Why Getting a Job in Russia Isn’t That Hard
Matt Shannon, Co-Founder, Expatriant
Are you looking for a job in Russia and wondering how difficult it will be to find one? The answer might surprise you. In fact, due to many factors, Russia is one of the easiest countries in the world to find a job as an expat. In 2020, US News & World Report ranked Russia the number one country in the world to start a career.
If you need encouragement to start your job search in Russia you have come to the right place, here are 3 great reasons why it isn’t that hard to find a job in Russia.
- Demand for Native English Speakers
- Easy Work Permit and Work Visa Regulations
- Low Level of Competition
AHK Iran Online Event: How to do business with Iran
The German-Iranian Chamber of Industry and Commerce (AHK Iran) and the Due Diligence Helpdesk (funded by the European Union) are holding the event "How to do business with Iran" on February 18, which will take place as an online conference.
Event Start: 18/02/2021 | 12:30 CET
Event End: 18/02/2021 | 14:00 CET
Registration: Register here
Regarding the economic relations between European and Iranian businesses, in this event the economic situation of Iran and the perspective of German-Iranian trade will be analyzed by AHK Iran’s managing director and the question "How can SMEs benefit?" will be answered by Helpdesk Team Leader.
If you are a European company or an Iranian with European trade relations, you will enjoy this event.
An Introduction to Doing Business in India 2021
Doing Business in India 2021 is designed to introduce the fundamentals of investing in India. Compiled by the professionals at Dezan Shira & Associates in January 2021, this comprehensive guide is ideal not only for businesses looking to enter the Indian market, but also for companies who already have a presence here and want to keep up to date with the most recent and relevant policy changes.
An Introduction to Doing Business in China 2021
Doing Business in China 2021 is designed to introduce the fundamentals of investing in China. Compiled by the professionals at Dezan Shira & Associates in January 2021, this comprehensive guide is ideal not only for businesses looking to enter the Chinese market, but also for companies who already have a presence here and want to keep up-to-date with the most recent and relevant policy changes.
Doing Business in China 2021 covers:
- Establishing and Running a Business
- Tax, Audit, and Accounting
- Human Resources and Payroll
An Introduction to Doing Business in Vietnam 2021
An Introduction to Doing Business in Vietnam 2021 will provide readers with an overview of the fundamentals of investing and conducting business in Vietnam.
2020 is a year, businesses are likely to forget due to the pandemic that disrupted global supply chains resulting in significant businesses losses. Nevertheless, Vietnam was one of the few countries that achieved net positive growth of 2.91 percent in 2020. This is one of the reasons why foreign investors remain keen on doing business in the country.
Vietnam Approves Labor Code for 2021
- Vietnam’s National Assembly approved a new Labor Code which took effect in January 2021.
- The amended code offers greater protection for employees and is viewed as better aligned with international best practices.
- The government released Decree 145 guiding the implementation of the labor code, which will take effect on February 1, 2021.
- Businesses should review their labor practices and ensure they are compliant as per amendments in the labor code.
Vietnam approved an amended Labor Code, which came into effect in January 2021. The amendment to the labor regulations are a step towards aligning with international labor standards particularly as Vietnam integrates into the world economy as noted by the International Labor Organization (ILO).
Poland: New year – important new changes in consumer protection and labour law
Poland: Some entrepreneurs are protected by consumer protection, the minimum wage is rising, and specific task contracts must be notified.
Entrepreneurs will be partly covered by consumer protection - with the new year, natural persons conducting business will in some cases be treated in the same way as consumers.