In an increasingly globalised business world, managing a mobile executive team and a workforce spread across multiple jurisdictions presents significant challenges for remuneration and HR professionals. Each country has its own complex and ever-changing rules regarding personal income tax, social security contributions, and the treatment of benefits and equity-based compensation. Designing a remuneration strategy that is competitive, equitable, and compliant across all locations is a critical task that requires specialist expertise. A well-structured international remuneration policy is essential for attracting and retaining top talent, ensuring fairness for employees on international assignments, and mitigating the risk of non-compliance for the company. Zetland Fiduciary Group helps businesses to design and implement effective international remuneration approaches for their mobile executives and cross-border teams. We act as a central coordinator, working closely with your tax advisors to ensure that your policies for compensation, benefits, and equity plans are fully aligned with the local legal and fiscal requirements in each country of operation. We then help to implement practical and efficient processes to ensure that all payroll calculations are accurate and that all records are complete, transparent, and auditable, providing a solid foundation for your global HR operations. Our goal is to create a seamless and compliant remuneration framework that supports your international growth strategy and provides a positive and transparent experience for your employees, wherever they are in the world.
Hong Kong's simple and low-tax regime makes it an attractive location for international talent, but it is still essential to structure remuneration packages correctly to ensure full compliance. Our service in Hong Kong is designed to help companies navigate the specifics of the local tax and social security system. We provide expert advice on structuring salary and benefit packages in a tax-efficient manner, considering the specific rules for allowances, housing benefits, and other perquisites under the Inland Revenue Ordinance. For employees participating in international equity plans, we advise on the tax treatment of stock options and other awards to ensure that all reporting obligations are met. A key component of our service is the management of payroll for employees on international assignment. We can establish and operate 'shadow payrolls' to track worldwide income and ensure the correct amount of Hong Kong salaries tax is reported and paid, even if the employee is paid from an overseas entity. This is critical for managing the compliance of senior executives who may have regional responsibilities. We also provide full support for the mandatory compliance obligations, ensuring that all employees are enrolled in the Mandatory Provident Fund (MPF) scheme and that both employer and employee contributions are calculated and paid correctly. We also manage the preparation and filing of the annual Employer's Return of Remuneration and Pensions (Form BIR56A) with the Inland Revenue Department. Our meticulous approach ensures your Hong Kong remuneration practices are compliant, efficient, and structured to attract and retain the high-calibre talent needed to succeed in this competitive market.
Singapore is a major hub for multinational corporations, and managing remuneration for a diverse and mobile workforce is a key priority. Our service in Singapore is focused on ensuring your compensation and benefits policies are compliant, competitive, and aligned with local regulations. We provide detailed guidance on the tax implications of various components of a remuneration package, including allowances, benefits-in-kind, and lump-sum payments, under the Singapore Income Tax Act. A significant area of complexity for international companies is the treatment of equity-based compensation. We work with your tax advisors to ensure that your stock option and share award plans are structured and reported correctly in Singapore, a jurisdiction which has specific rules in this area. We also provide comprehensive support for the management of Central Provident Fund (CPF) contributions, which are mandatory for all local employees who are Singapore citizens or permanent residents. We ensure that CPF is calculated correctly on all relevant components of remuneration and paid on time. For your expatriate employees, we manage the payroll to ensure the correct tax treatment is applied and can assist with the preparation of applications for tax clearance (Form IR21) when an employee ceases employment in Singapore. For mobile employees on international assignments, we can implement and manage shadow payrolls to ensure accurate tracking and reporting of income for Singaporean tax purposes. Our service provides a robust and compliant framework for your Singapore payroll and remuneration, giving you the confidence that these critical HR functions are being managed to the highest professional standards.
The remuneration and individual income tax (IIT) landscape in Mainland China is one of the most complex in Asia, requiring deep local expertise to navigate successfully. Our Shanghai-based team provides this essential support, ensuring your remuneration practices are fully compliant with the intricate and constantly evolving regulations. We provide detailed advice on structuring employment packages, including the correct treatment of salaries, bonuses, and the various statutory allowances that are common in China. A major area of focus is the administration of social security and housing fund contributions. These are mandatory for both employers and employees, and the contribution rates and bases vary significantly by city and province. We manage the complex monthly calculations and payments to the relevant local bureaus, ensuring your company remains fully compliant. For expatriate employees, we provide expert guidance on the tax implications of their remuneration packages, including advising on the tax treatment of specific allowances for housing, children's education, and home leave, which can be exempt from IIT under certain conditions. We also manage the complex IIT calculations and filings, including the application of the annual bonus preferential tax treatment where applicable. For employees participating in global equity plans, we provide advice on the specific registration and reporting requirements with the State Administration of Foreign Exchange (SAFE) and the tax authorities, a process which is highly regulated. Our service ensures that your remuneration and payroll operations in China are managed with the highest degree of diligence and local expertise, mitigating the significant compliance risks and providing a stable and transparent platform for your employees.
Zetland Fiduciary Group operates a global network of offices to support clients across key international financial hubs. Whether you are seeking guidance on company formation, trust administration, accounting, or cross-border transactions, our local experts in Hong Kong, Shanghai, Singapore, and London are ready to assist.
Contact any of our offices directly for tailored advice and seamless service.