Why Is It So Difficult to Find an Affordable Office in Hong Kong?

Hong Kong’s towering property costs are the main reason behind the steep office rental prices. With a large population of 7.4 million but only 1,104 km² of land, the city’s real estate market is notoriously expensive, making it challenging to find cheap office solutions that doesn’t break the bank.

Adding to the difficulty is the demand for prime locations. Everyone wants to be in the CBDs like Central, Admiralty, Causeway Bay and Tsim Sha Tsui, not only for the prestige address but also for the convenience and proximity to target clients. Even though the economy has been experiencing a recession recently, competition for office space in these sought-after areas remains fierce, and prices are hardly going down.

What Are the Best Strategies for Finding an Affordable Office?

While it’s difficult to find a cost-effective office in Hong Kong, don’t get frustrated! Running a business here is still lucrative thanks to its business-friendly infrastructure. A competitive commercial real estate market means you just need to do a bit more homework.

One of the smartest moves you can make is to consider locations outside the CBD. Newly developed areas like Quarry Bay, Wong Chuk Hang, Kowloon Bay, and Lai Chi Kok often have more reasonable rents while still offering good transport links and amenities.

When it comes to amenities, prioritise what you really need. Do you need luxury fit-outs, or would a functional space with essential amenities be perfectly fine? By focusing on what’s necessary, you can cut down on costs without sacrificing quality.

Another option is to explore flexible workspaces. Serviced offices, for instance, offer a businesslike environment similar to a conventional office setting, with significant savings compared to traditional leases. While you enjoy the privacy of having your own office, you also have access to shared amenities like high-speed internet, kitchens, and meeting rooms. You even get the added bonus of networking opportunities with other tenants.

Don’t be afraid to negotiate, either. Longer leases or flexible terms might help you secure a better deal – after all, it’s in the landlord’s interest to keep a reliable tenant.

How Can You Make the Most of Flexible Workspaces? 

Whether you’re a freelancer, start-up, SME, or established corporation, flexible workspaces come with several cost-saving perks. Fully furnished with amenities like meeting rooms and reception services mean you don’t have to pay for any facilities upfront. You don’t have to manage them neither. Flexible contracts usually start from a month, giving you the freedom to avoid long-term commitments. Plus, you can easily scale up or down based on your business situation, allowing you to adapt to the ever-changing business landscape without paying for underutilised space.

When Should You Consider a Virtual Office Instead?

A virtual office can be a fantastic, cheap office solution if you don’t need a physical office space. At a fraction of the cost, you still get the benefits of an esteemed address and essential business services, like mail handling and phone answering. This solution is particularly useful for those who work remotely but want a professional image. Many virtual office packages also include access to meeting rooms and business lounges, giving you the flexibility to meet clients in a polished setting when needed.

Finding the right workspace solutions in Hong Kong

Understanding your needs is key to finding the right workspace in Hong Kong. Make sure the office supports your goals and provides the necessary amenities without overextending your budget. Exploring different types of workspaces and negotiate for the best deals can go a long way, too. Being flexible and open-minded will help you secure an affordable office that aligns with your business objectives.

Get in touch with Compass Offices

For modern businesses, flexible offices are the answer to stay competitive. Compass Offices provide flexible office solutions in major APAC cities: Hong Kong, Shanghai, Singapore, Sydney, Melbourne, Manila, Tokyo, Osaka, Ho Chi Minh City and Kuala Lumpur, helping young and established corporations to stay agile. Contact the Compass Offices team to find your perfect workspace solutions.

• Website: https://www.compassoffices.com/
• Phone: +852 3796 7188
• WhatsApp: +852 6396 7907
• Address: Locations in Sheung Wan, Central, Admiralty, Causeway Bay, North Point, Tsim Sha Tsui

Image credits: Compass Offices

What Is a Coworking Space?

A coworking space is a shared workspace where people from different background can work alongside one another. These spaces are typically built to encourage collaboration and innovation, where its open-plan environment allows ideas to flow freely.

With flexible membership plans, from daily to monthly options, you can pick one that suits you best. In terms of amenities, enjoy access to shared meeting rooms, kitchens, high-speed Wi-Fi and more, all in one convenient place. A coworking space put its community at its heart, therefore they often host networking events like workshops, guest talks and festive gatherings.

In general, coworking spaces are a hit among freelancers, startups and SMEs looking for a cost-effective, community-driven workspace. They are perfect for those who thrive in a social environment and enjoy the energy and creativity that comes from working alongside like-minded professionals.

What Is a Serviced Office? 

A serviced office is a fully-equipped private workspace within a larger floor or building, managed by an operator. These corporate fitted, ready-to-use offices come with all the necessary amenities and services, allowing businesses to dive straight into their operations.

Here, you’ll have access to top-notch facilities like enterprise-grade internet and telecommunications infrastructure, secure access, as well as professional administrative and IT support, such as mail and call handling services. Cleaning and maintenance are also maintained by the operator.

Serviced offices are best suited for SMEs, corporates and professionals or project-based teams who need a professional office space with minimal setup time. They are also popular with established companies seeking satellite offices in new markets or prestigious addresses for representative offices. Entrepreneurs and freelancers who need a private space to work might also find serviced offices a great fit.

Coworking Space vs. Serviced Office: Which One Should You Choose?

If you’re thinking about a coworking space or a serviced office, it’s a good idea to make sure you’ll have the services and equipment you need, right when you need them. Here are some key aspects to consider when choosing a workspace.

Types of Companies

The type of business you run shapes what you need in an office. Generally speaking, coworking spaces targets individuals and small teams that don’t yet need their own offices. On the other hand, serviced offices attract start-ups, SME and larger companies looking for a prestigious address and professional setup that reflects their business image. Entrepreneurs and freelancers who need more privacy may also find serviced offices a better fit.

Cost Considerations

Coworking spaces are typically more affordable, as they are priced per seat or usage, making them an attractive choice for businesses with tighter budgets. Serviced offices, while relatively more expensive, cover a broader range of amenities and services, such as privacy, corporate fitout, admin support, which can justify the higher cost for those needing these features.

Flexibility and Commitment

In Hong Kong, both workspace types offer month-to-month agreements, providing a high level of flexibility for businesses that may need to scale up or down quickly. That said, many places offer better discounts if you commit to a longer-term agreement.

Privacy and Professionalism

Coworking space’s casual, open atmosphere is great for networking but may lack the privacy some businesses require. In contrast, serviced office’s formal, corporate environment attracts businesses that prioritise privacy, professionalism and confidentiality.

Size of Spaces and Layout

Coworking spaces provide access to shared areas, where you can pick an available desk in an open setting. Serviced offices, on the other hand, provide private offices in various sizes and layouts, which could include storage, a manager’s office, or get customised to meet any other specific needs your business may have.

How to choose the right office types

Understand your needs before you make a decision between a coworking space and a serviced office. For example, how often you’ll need to use the office, the facilities you require and what you prioritise – whether it’s cost, flexibility or a professional image. Make sure the workspace that you pick can best supports your business goals.

Get in touch with Compass Offices

For modern businesses, flexible offices are the answer to stay competitive. Compass Offices provide flexible office solutions in major APAC cities: Hong Kong, Shanghai, Singapore, Sydney, Melbourne, Manila, Tokyo, Osaka, Ho Chi Minh City and Kuala Lumpur, helping young and established corporations to stay agile. Contact the Compass Offices team to find your perfect workspace solutions.

• Website: https://www.compassoffices.com/
• Phone: +852 3796 7188
• WhatsApp: +852 6396 7907
• Address: Locations in Sheung Wan, Central, Admiralty, Causeway Bay, North Point, Tsim Sha Tsui

Image credits: Compass Offices

Flexibility is key to business success, especially in times of rapid change. In Hong Kong, traditional office spaces often come with rigid lease terms and fixed space allocations, which can be a burden for businesses needing to adapt quickly. Flexible offices, on the other hand, offer a valuable solution. These adaptable workspaces are becoming popular among professionals and companies, whether for short-term or long-term needs.

What Makes Flexible Offices Different from Traditional Offices?

Flexible office spaces are different from traditional offices in many aspects, and understanding these differences is essential for choosing the right workspace, especially in Hong Kong’s competitive market. One of the standout features is their scalability. Unlike traditional offices that often lock businesses into a fixed amount of space, flex offices allow companies to adjust their workspace as needed – this means that as your business grows or downsizes, you can easily expand or reduce your office space to match your current requirements.

Flexible workspaces also offer more adaptable rental terms, allowing businesses to manage their lease duration according to their changing circumstances. In Hong Kong, traditional offices often require yearly commitment, while these leases typically start from one month, with a rolling monthly option available. 

Another significant advantage is the ability to move between different locations within the operator’s network. This flexibility is particularly beneficial for businesses needing to respond to new opportunities or challenges, such as moving to a larger office to accommodate a new project team.

What Other Features Do Flexible Offices Offer? 

Flexible office solutions offer much more than just adaptable spaces — their comprehensive amenities are here to support your business operations. Imagine having access to state-of-the-art meeting rooms and stylish lounges in prime CBD areas, fully equipped for important client meetings, team brainstorming sessions, or informal gatherings. These facilities provide everything you need for a smooth experience, so there’s no need for separate rentals.

Another advantage is the professional administrative services, such as multilingual reception support and mail handling, all designed to streamline your day-to-day operations. This reduces the burden on your team and improves overall efficiency.

Self-employed professionals and start-ups can also benefit from the community these spaces cultivate. Sharing a workspace with other like-minded businesses opens the door to invaluable networking opportunities, potential collaborations and partnerships that could propel your business forward.

How Can Flexible Offices Benefit Your Business in the Long Term?

How can flexible offices benefit you in the long term, even as a short-term solution? By offering the flexibility to scale your workspace up or down as needed, they are cost-effective, allowing you to optimise your expenses. You only pay for the space you require at any given time, which translates to major cost savings over the years.

Not to mention the agility that flexible offices bring to your business. Today, the business environment is full of new opportunities or challenges, and you can adapt quickly with flex office spaces, whether by relocating, expanding, or reconfiguring your workspace, keeping your business ahead of the curve.

More importantly, these spaces are designed to support your growth. As your business evolves, you can upgrade to larger spaces or add more workstations anytime without the constraints of a long-term lease. Your workspace grows with your business and provides a stable and adaptable environment that fosters continued success for your business.

Get in touch with Compass Offices

For modern businesses, flexible offices are the answer to stay competitive. Compass Offices provide flexible office solutions in major APAC cities: Hong Kong, Shanghai, Singapore, Sydney, Melbourne, Manila, Tokyo, Osaka, Ho Chi Minh City and Kuala Lumpur, helping young and established corporations to stay agile. Contact the Compass Offices team to find your perfect workspace solutions.

• Website: https://www.compassoffices.com/
• Phone: +852 3796 7188
• WhatsApp: +852 6396 7907
• Address: Locations in Sheung Wan, Central, Admiralty, Causeway Bay, North Point, Tsim Sha Tsui

Image credits: Compass Offices

Get Clicks

Get Clicks has been operating in Hong Kong since 2016 and is a fully-rounded SEO agency. Serving various types of clients in Hong Kong, China, Asia, and Europe, this boutique SEO firm helps SMEs and international companies rank higher on Google. Get Clicks provides SEO services in English, Traditional and Simplified Chinese, and French. Their range of services includes SEO consulting and strategy, technical audits, keyword research, on-page optimizations, content marketing and copywriting, link building, digital PR and PR distribution, and reporting. Get Clicks has proven expertise in content writing, social media, and content development.

Whether you want to achieve better rankings in Hong Kong, APAC, the US, or any other version of Google, Get Clicks offers tailored SEO solutions based on your objectives. Major clients include Toyota, NordVPN, Ecovacs, Compass Offices, and Preply.

Address: Flat A, 8/F, Wing Tat Commercial Building, 121-125 Wing Lok St, Sheung Wan, Hong Kong
Contact: Website | LinkedIn

SEO HERO

SEO HERO LTD is a premier digital marketing agency based in Hong Kong, specializing in Search Engine Optimization (SEO) services. They offer a comprehensive range of SEO solutions designed to boost online visibility, drive targeted traffic, and enhance website rankings on major search engines.

Their services include keyword research, on-page and off-page optimization, technical SEO audits, content creation, and link building strategies. SEO HERO LTD also provides detailed analytics and performance tracking to ensure measurable results. With a team of experienced SEO experts, they cater to businesses of all sizes, helping them achieve sustained growth and a competitive edge in the digital marketplace.

Address: Room 510, 5/F, Wayson Commercial Building, 28 Connaught Road West, Sheung Wan
Contact: Website | LinkedIn

Cogney

Cogney is a digital marketing agency based in Hong Kong, renowned for its expertise in both paid and unpaid search marketing across various consumer and B2B sectors. Founded by SEO expert Doug Pierce, Cogney has successfully placed over 100 companies on Google’s first page for key industry-relevant terms. Committed to ethical SEO practices, Cogney focuses on SEO, pay-per-click advertising, and analytics, ensuring high ROI and transparency for all clients. The agency’s dedication to mastering SEO reflects Pierce’s passion for achieving optimal search results.

Address: Suites 71-72, Level 44, Champion Tower, 3 Garden Rd, Central
Contact: Website | LinkedIn

First Page

First Page is a global performance marketing agency that partners with companies to develop and execute data-driven digital strategies. They integrate seamlessly with client teams, acting as an extension of their marketing operations. With deep expertise across SEO, advertising, landing pages, and more, First Page delivers measurable results.

Website: https://www.firstpage.hk/

Owlish Online

Owlish Online is a comprehensive digital marketing agency founded in 2013. Specializing in organic content strategies, they have served over 200 companies worldwide, from Fortune 500s to local businesses. Partnering with Taiwan Inbound, Owlish Online delivers data-driven campaigns tailored to each client’s unique needs and goals.

Website: https://www.owlishonline.com/

WILD

WILD is a full-service digital marketing agency offering a wide range of services including SEO, web development, social media management, paid advertising, web design, creative content, influencer marketing, Shopify development, and crowdfunding campaign support. With expertise across the digital landscape, WILD delivers integrated solutions to help clients achieve their marketing goals.

Website: https://wild.solutions/

iProspect

As a Dentsu agency, iProspect seamlessly integrates with enterprise clients to drive measurable digital performance. Offering comprehensive services like SEO, paid media, social, and content, iProspect develops data-driven strategies to boost brand awareness and conversions. Leveraging Dentsu’s global expertise, including Carat and Merkle, iProspect delivers world-class digital solutions.

Website: https://www.iprospect.com/

Header Image Credit: Earnest Tse & Pixelshot via Canva

Yau and Wong 

A popular option amongst expats in Hong Kong, Yau and Wong CPA has a client-centric approach enabling the delivery of value-driven accounting solutions. They integrate accounting and compliance to ensure businesses are well-prepared for tax obligations. Although they do serve large multinationals, their focus is on delivering cost effective services for SMEs. They are one of the few firms in Hong Kong that offer a paperless Companies Registry filing process and they have a strict belief in not outsourcing the accounting work to other countries to maintain a high quality of work. The company is a proud member of the Canadian Chamber of Commerce in Hong Kong, and is well known in the Hong Kong business community. Yau and Wong CPA offers company set-up and bank account opening services for foreigners looking to start a business in Hong Kong, making them a great partner for expanding your business in the region.

Location: Room 2101A, Nan Fung Centre, 264 Castle Peak Rd, Tsuen Wan, Hong Kong
Opening Hours: Weekday 10am – 5pm
Website: https://yauandwong.com
Contact: +852 2411 3139 | info@yauandwong.com 

3E Accounting Limited

3E Accounting stands as a premier Hong Kong-based accounting firm, excelling in incorporation, accounting, tax, immigration, and compliance services for startups and SMEs. Their mission revolves around delivering efficiency, effectiveness, and economy, collectively known as the “Three Es.” With a commitment to transparency and cost-efficiency, 3E Accounting offers a comprehensive one-stop solution center, assuring quality and prompt service.

Abundance Business Services

Abundance Business Services provides professional Accounting and Human Resources services to SME enterprises in Hong Kong. They assist clients in handling financial reports, staff payroll, MPF submissions, job recruitment, and interview arrangements. In addition, they offer diverse business services to support their clients’ annual company events. Abundance Business Services strives to best serve their clients and continuously contribute to the growth and stability of their businesses.

Asia Business Centre

Asia Business Centre is a key player in Hong Kong with 13+ years of experience, served over 5,000 entrepreneurs and startups worldwide to establish their businesses in Hong Kong, Singapore, and beyond. They are a top-tier corporate service provider offering tailored solutions in Success Guaranteed Bank Account Opening, 1-Day Company Setup, Zero Tax Planning, and comprehensive maintenance services like cloud accounting, company secretary, and licensing, supporting SMEs worldwide.

Bridges

Established in 2003, Bridges Powered by Equiom is a trusted corporate services provider in Hong Kong. Their team of qualified professionals is dedicated to supporting local and international startups and business owners with tailored solutions. In 2017, Bridges joined the Equiom Group, enhancing their capabilities to offer a broader range of services, including international tax and private client wealth management. On top of accounting, auditing, tax compliance and strategy services, they also offer other services include office solutions and company secretary.

Baker Tilly Hong Kong

Recognized by the Hong Kong Stock Exchange and the Securities and Futures Commission, Baker Tilly is a leading Hong Kong-based firm of certified public accountants and business advisors, affiliated with Baker Tilly International. With a collaborative approach, they offer commercial expertise, local market insight, and prompt attention to business challenges, covering industries such as finance, real estate, technology, and manufacturing.

Conson CPA Limited

Conson CPA Limited, a prominent business services provider served more than 30,000 companies, offering essential support such as Company Formation, Company Secretarial Services, Accounting & Taxation, and more. Their accounting services include: Book-keeping & stock taking, preparing financial statements, tax computation schedule, filing tax returns and replying letters from IRD. Operating 11 offices in China and Hong Kong, they also oversee Coffice, a coworking space with six locations throughout Hong Kong.

Kenneth Chau & Co

Founded in 1960, Kenneth Chau & Co. has cultivated a strong presence in Hong Kong’s accounting landscape. With a team of Certified Public Accountants and Certified Tax Advisers, they specialize in Audit, Taxation, and Corporate Secretarial & Advisory services. Their diverse clientele includes multinational corporations, local businesses, and established family enterprises, benefiting from their deep local knowledge and global connectivity through MGI Worldwide, a leading international accountancy network.

Lawrence Cheung CPA

Established in 1978, Lawrence Cheung C.P.A. Company Limited (LCCPA) is a respected Hong Kong accounting firm registered with HKICPA. With over 40 staff, including 6 Certified Public Accountants, LCCPA excels in audits, taxation, and advisory services. Their directors, formerly of Big-Four firms, bring extensive experience. They serve a diverse clientele, both local and overseas, and are a member of Alliott Global Alliance

Osome

Osome, a forward-thinking firm, supports entrepreneurs worldwide by handling routine tasks, allowing them to focus on innovation and growth. With 15,000+ clients served globally, including 4,200 companies created, Osome provides one-stop accounting services. With dedicated accountant, audit and compliance filing support, and document management services, entrepreneurs can spare 40 extra hours monthly into their business. 

Sleek

Sleek, a dynamic player in Hong Kong’s accounting landscape, offers a comprehensive suite of services, including Accounting & Payroll, Corporate Tax Calculator, Audit & Tax Filing, CFO Services, Accounting for ecommerce, Bookkeeping services and Payroll. Serving thousands of SMEs across different countries, they specialize in 100% digital company registration, accounting management, and deadline management, allowing businesses to focus on growth. Sleek is an inclusive and eco-conscious company.

Header image credit: Kelly Sikkema via Unsplash

Aspiring performers do not need prior experience – only the ability to be convincing when it comes to sending chills down the spines of visitors at haunted houses, dancing to the rhythm of the night, or channelling their inner ghost king.

The park is also looking for people to fill non-performer roles, such as event assistants, performer escorts, technicians, festive food and beverage servers, and retail staff. 

The positions are not necessarily full-time as applications are also open to 9-to-5 working professionals and students. Interested applicants can apply via WhatsApp, and those who make the cut will get calls for auditions running from late June to July.

Header image credits: Ocean Park Hong Kong via Facebook

Over 100 vacancies in all areas

Water World Ocean Park is looking for talents across all aspects, ranging from aquatic operations, guest services, first aid, security to general services, and more. No previous lifeguard training is required for aquatic operators, as comprehensive training in aquatic safety will be provided. In particular, Water World Aquatic Operations team members will receive globally recognised licensing upon completion of the professional training by Ellis & Associates, a world leader in aquatic safety.

They are also seeking enthusiastic individuals to join the retail team and provide exceptional customer service to the adventurers. You will be surrounded by all sorts of interesting aquatic merchandise, and have the opportunity to showcase your creativity and interact with visitors from all over the world, ensuring that they have a joyful shopping experience. The food and beverage team is also seeking passionate individuals with a love for the industry to join the team.

All you need is a passion to work in a job that is not only fun, but also fulfilling. In return, they offer a promising career path for staff, with plenty of chances for growth and advancement.

Staff benefits and HK$6,000 new joiner incentive

By joining the team, staff get free personal access to Water World and Ocean Park, as well as family and friends tickets so you can also bring your mates for fun rides on the best slides. Other staff benefits include complimentary shuttle bus service between Ocean Park and Water World, subsidised meals at the staff canteen, and participating in different events at the park.

In addition, a New Joiner Incentive Scheme is introduced at both Water World and Ocean Park which applies to new permanent staff or contract staff with contract duration of one year or more. As long as you have never been employed by the Parks in the capacity of a long-term full-time position, and have successfully served in your new long-term full-time position for six consecutive months, you will be entitled to a new joiner incentive of HK$6,000. (Guidelines on the eligibility criteria of the Scheme will be made available to candidates who receive a long-term full-time job offer.)

Recruitment days and job fairs details

Explore the opportunities available at the Water World Recruitment Day on March 29, 2023. Applicants will be interviewed on-site and those applying for Aquatic Operations positions will also participate in a swim test, so for those who’s interested, be sure to bring your swimsuit and goggles. Interested candidates will also be given an exclusive tour, where you can find out more about the facilities, meet the passionate team, and learn about the different roles and responsibilities at various positions in this exciting world-class destination.

Walk-in recruitment days will also be held at Ocean Park every Thursday, and job fairs in town which take place on the following dates and locations:

Visit Ocean Park’s website for more details. No prior appointment is required and interviews will be conducted on-site.

Image credits: Ocean Park Corporation

Employees’ Compensation Insurance

An obvious place to start is the only mandatory form of insurance required by every single employer in Hong Kong, Employees’ Compensation Insurance. If you’re employing anyone to do any job in Hong Kong, then by law you are required to have an insurance policy covering your liability of that worker suffering an accident or injury in the routine course of their employment. 

EC Insurance protection is held by every single company in the territory and can prove invaluable in the event of a claim. Regularly updating your EC coverage as your company grows can ensure that you don’t have any gaps in this form of protection, and if the Labour Department performs a surprise inspection, you should have no issues satisfying your statutory requirements.

Read More: All You Need To Know About Employee’s Compensation Insurance In Hong Kong

Professional Indemnity Insurance

Any business giving advice to any customer runs the risk that they could be accused of malfeasance, malpractice, or negligence. If the customer suffers a loss because of these accusations, and any of these accusations are found to be true, then the business could be liable for the losses.  

Professional Indemnity insurance is also known as “malpractice insurance,” and covers your business and employees against their risk of making a mistake which materially impacts a customer. From law firms for getting to cross the T or dot the I on a contract, or financial services companies that carry the wrong number on a spreadsheet, simple mistakes can happen every single day. 

Professional Indemnity insurance ensures your business is insulated when they occur.

Directors and Officers Insurance

Directors and Officers insurance, also known as “D&O Insurance,” is similar to professional Indemnity protection but is more focused towards coverage of the high-level Executives at a business; hence the name “directors and officers.”

This type of insurance is designed to protect your business should any of your company senior directors or officers be the recipient of a claim that they have acted in a wrongful manner. Under this type of policy, the definition of “wrongful act” is extremely broad and covers breaches of trust, omissions, misstatements, errors, defamation, breach of duty, and violations of the Sarbanes-Oxley Act of 2002 or equivalent laws.

Cyber and Digital Insurance Protection

Businesses are increasingly dependent on a raft of digital tools to accomplish their goals and service customers. But this dependence on connected devices in The Internet of Things, cloud-based servers, and software as a service means that companies of all types are far more vulnerable to the whims of Internet criminals than ever before.

Cyber Insurance products are designed to bring Industrial Age Insurance Solutions into the 21st century.  They accomplished this by giving businesses a wide range of bespoke protection for all possible cyber risks present around the world.  Whether you’re concerned about business Interruption because your CRM server goes down, or you have to spend money to repair your website after a vandalism event, each Cyber-Insurance product is created specifically for the business it is covering.

With the number of growing cyber-crime events increasing each and every year, this is a form of Professional Insurance that no business in Hong Kong can afford to go without.

Liability Insurance

It has never been easier to sell something online without actually manufacturing the physical product, but using an online platform to sell your goods comes with both risks and requirements. Big Ecommerce platforms are increasingly requiring sellers to have some form of liability coverage for the goods that they are providing online. 

Commercial Goods liability insurance can protect both a vendor and an e-commerce platform against claims of defective or dangerous goods closing accidental injury or property damage. But even companies that don’t make anything and don’t deal with a physical product that’s bolt and sold need to have liability concerns present in their mind.

Public Liability insurance is designed to protect your business against physical damages which the company may have caused to third parties (either by way of bodily injury death or property damage).  From the risk of a client coming into your office tripping over carpet and breaking their arm to your advertising hoarding falling down in the building Lobby and hitting a random passerby on the head, Liability Insurance is easily overlooked but is another product that can be invaluable when needed.

About CCW Global

CCW Global is an expert insurance broker in Hong Kong. Founded in 2012, we are dedicated to serving our clients across all their coverage needs and provide a no risk no obligation quotation service that ensures you only pay for the insurance you require.

CCW makes it easy to view personalized comparisons from different companies to help you make the best choice.

Header image credit: Canva

More about insurances in Hong Kong:

• The 3 Main Types Of Insurance Companies In Hong Kong (And Their Pros & Cons)
• All You Need To Know About Business Insurances in Hong Kong
• All You Need To Know About Employee’s Compensation Insurance In Hong Kong
• Critical Illness Insurance in Hong Kong : Are You Covered?
• Your Guide To Motor Insurances in Hong Kong
• All You Need To Know On Public Liability Insurance In Hong Kong
• Your Go-To Guide To Event Insurances In Hong Kong
• 3 Reasons To Get Insurance Before You Fly this Christmas
• Do I Need Health Insurance in Hong Kong?
• Home Insurance in Hong Kong: What you need to know
• The HK HUB Startup Insurance Guide

Finding an office to rent is not that easy in Hong Kong as there are literally hundreds of possibilities and various types of offers. For instance, a business center offers a more private workspace with a dedicated office, while a co-working space will be more flexible with hot desks and month-to-month rental solutions. Nowadays, most of the shared offices in Hong Kong will propose both and we’ve found some great ones for you.

Office sharing is definitely a good solution for all types of companies (ie. freelancers, entrepreneurs, founders, digital nomads, small businesses…). That’s the easiest solution to get work done in a flexible workspace.

Compass Offices

Compass Offices opened its first location in Hong Kong in 2009, and has since expanded to over 10 business centres in prime business districts around the city, along with serviced offices for corporates and growing enterprises in Melbourne, Sydney, Kuala Lumpur, Singapore, Manila, Shanghai, Tokyo, and Ho Chi Minh City. With a focus on contemporary private offices with ready-to-use facilities, they also offer co-working spaces and short-term rentals of individual suites in select locations to cater to growing start-ups and entrepreneurs.

What sets Compass Offices apart from traditional offices is their business-ready serviced offices with flexible terms, custom-built designated office space which is tailored to client specifications, and professional virtual office services which offer reputable business addresses and seamless call and mail forwarding for businesses in fast-growing industries expanding to new countries. Their professionally trained customer services team and cutting-edge tech throughout the meeting rooms, collaborative spaces, and private offices make Compass Offices the ideal office solution for established corporations and individual professionals.

Where: 13 locations in Central, Sheung Wan, Tsim Sha Tsui, Admiralty, Causeway Bay, North Point
Contact: Call +852 3796 7188 or WhatsApp +852 6396 7907

Ooosh Coworking

Established in 2015, Ooosh Coworking Space serves its 8th year as one of the tech startup ecosystem facilitators and enablers, currently operating a total of 32,000 sq.ft of co-working spaces across Hong Kong. Their flexible membership plans are all-inclusive of shared facilities like meeting rooms and common areas, 24/7 secure access, dedicated phone line, high-speed Internet, and contemporary furnished workspaces.

Ooosh is on a mission to build a start-up ecosystem that drives organic growth for its stakeholders, namely the start-ups, investors, service providers, and digital economy novices. Far more than a simple workspace provider, under Ooosh Tech Lab, the umbrella brand, they actively contribute by connecting, incubating, and investing in promising tech businesses and talents.

With the experience of having served over 200 local and international businesses, including tech unicorns and MNCs, Ooosh believes a true coworking space manufactures opportunities and blossoms possibilities.

Where: Ooosh Kowloon, Ooosh Central, Ooosh Island East
Contact: Call +852 27858588 (head office),+852 2785 8588 (Kowloon),+852 2785 8588 (Central), +852 2151 8383 (Island East) | Email ask@ooo.sh

theDesk

theDesk runs more than 15 co-working spaces throughout Hong Kong and Shanghai. All locations provide meeting rooms, high-speed Wi-Fi, complimentary beverages, 24/7 secure access, phone booth, mailing service, and an awesome multilingual front desk team.

Each location has its own unique design according to the vibe and community. For example, at theDesk Kerry Hotel, there is a consistent industrial theme with black steel, exposed pipes and touches of warmth expressed in the lighting and wooden accents. The open layout feels like an invitation to flit around like a social butterfly when not working in a clean-cut, mind-clearing workspace. The large spaces and outdoor terraces (available in most locations) are great for socializing, as well as private events.

theDesk has one of the most extensive co-working networks in the city, with locations in business districts like Central, Causeway Bay, and Tsim Sha Tsui,  as well as in emerging business hubs like Kwun Tong, Kowloon Bay, and Hung Hom, so you can plug and play no matter where you go.

Where: Locations in Sai Wan, Sheung Wan, Causeway Bay, Kwun Tong, Kowloon Bay, Hung Hom, Sha Tin
Contact: Call +852 3892 2323 or email info@thedesk.com.hk

Coral Hub

Coral Hub was founded in Hong Kong in 2020, offering a modern workplace where members can select from day passes and virtual office, to flexible monthly plans with 24/7 secure access and round the clock air conditioning for hot desk, fixed desks, and private offices. Located 5 minutes away from Kwai Hing MTR station and within walking distance of restaurants, malls, banks, and accommodation, Coral Hub welcomes creative minds from all career industries.

Coral Hub is fully equipped with high speed Wi-Fi, business class printers, free-flow coffee, executive furnishings, reception and mailing services, as well as tidy washrooms inside the venue. Coral Hub’s event space is open to members and the public by booking, and has audio/video facilities for versatile events, workshops, conferences, and accommodates up to 60 guests for a seated seminar.

Where: Roxy Industrial Centre, Unit D, 21/F, 58-66 Tai Lin Pai Rd, Kwai Chung
Contact: +852 2156 1571 or info-hk@findthecoral.com

Bite Unite

Where have you been, BiteUnite, ask the many enterprising HK cooks and bakers fed up with small countertop ovens that can barely roast a chicken and only churn out six muffins at a time?! This kitchen co-working space is great for aspiring and practicing chefs who want to perfect their craft and/or run a professional food business. The large, fully equipped kitchen area allows for hosting cooking classes, with business support and food delivery services too for food business owners.

Learn more: https://www.biteunite.com

Garage Society

Trendy and attractive, with cheery furniture and a breezy outdoor terrace for networking among the skyscrapers, Garage Society’s four co-working spaces throughout the city are top for serious workers with many tasks to tackle, or part-timers needing to meet a deadline now and again. Different membership packages give you 24/7 access (full time hot-desking), five days per month access (light hot-desking), and there’s even a handy day pass. Keep an eye on their exclusive weekly events, which run the gamut from fireside chats to workshops.

Learn more: https://www.thegaragesociety.com/hong-kong

MakerBay

If you’re packing workshop tools instead of a Mac, MakerBay is your next new home. This unique maker group has one location in Hong Kong providing office spaces, tools and a community with the aim of using innovation for social and environmental impact. They host plenty of events and workshops where inventive folk (members include scientists, engineers, designers and artists of all levels) can learn new skills, develop their inventions and grow their businesses.

Learn more: https://www.makerbay.net

The Hive

The Hive has so much going on, from accessible city locations in Central, Wan Chai and Kennedy Town, to a tranquil riverside setting in Sai Kung with inspiring mountain views to get the wheels turning. Add to this three inventive offshoots – MakerHive, a combined workshop/workspace, Hive Studios, a work space/photography studio, and Hive Co Farm, a community garden/farm – and there’s something for every productive type. Each location has its allure, with stylish open plan workspaces, hot desks, dedicated workstations, private offices and appealing outdoor terraces for a lovely change of pace.

Learn more: https://thehive.com.hk/

Ucommune

Ucommune serviced office space has a global network of over 800,000 members in China, Hong Kong, Singapore, United States and you can find them in more than 50 cities worldwide. You can enjoy a spacious office space with views over Mong Kok. Large private offices and hot desks are available for companies and freelancers who need an easy-to-access space in one of the most vibrant district in Hong Kong. Event space, shared area, phone booths, meeting rooms, kitchen and fitness spaces are also available.

Learn more: https://hk.ucommune.com/hk/

WeWork

The mammoth WeWork has a network of co-working spaces across the globe, and several shared office spaces in Hong Kong. Locations in Wan Chai and Causeway Bay rival some of the city’s hippest cafes, with cosy desks in booth settings and inviting sofas and chairs when you need to take a break. Some meeting rooms have amazing views of Victoria Harbour to give that extra boost of inspiration between brainstorming, and there’s all the usual amenities at all sites, including non-stop micro roasted coffee to keep you perky and focused on your work all day.

Learn more: https://www.wework.com/l/hong-kong

Header image credits: miodrag ignjatovic via Canva

How to choose your office in Hong Kong

The following factors will affect the price of your office rental, convenience of your commute, and overall employee satisfaction. Have these criteria in mind when defining a budget, your enterprise’s first step into renting an office.

Lease length

If your company is well-established and the headcount is unlikely to change significantly in the coming years, you can potentially look for a longer office lease. Small and medium-sized businesses may prefer to go for a shorter duration of six months up to a year.

Building grade

There are three office building grades in Hong Kong: Grade A, B, and C. Grade A buildings are the most expensive, with the most luxurious-looking lobbies, highest-tech fit-outs, and various facilities like dining, gyms, plentiful parking, city views from the upper floors, and outdoor spaces. Grade C is the cheapest building grade, with older facades, low accessibility, and few or no amenities.

Office amenities

When considering amenities of commercial properties, try to balance monthly costs and convenience. Newer and abundant amenities will push the price up, but things like outdoor space, fitness rooms, parking, and F&B can significantly improve the office experience. 

Location

Renting an office in Central Business Districts on Hong Kong Island and Kowloon like Central, Admiralty, Causeway Bay, and Mong Kok is the most expensive because of the concentration of esteemed companies, Grade A buildings, accessibility to MTR stations, and proximity to clients. Cheaper office locations may be situated in industrial buildings or far away from city centres. You can consider how important it is to have a prestigious business address and where your team lives among other factors, when choosing your workplace location.

Capacity or number of seats

You don’t want to end up paying for more space than you need, or on the other hand, doing all the paperwork just to find out your office is too cramped. The general rule is that one person requires about 10 to 16 sq’m of office space. Alternatively, serviced offices calculate rental prices per desk.

What types of offices to rent in Hong Kong?

Choosing the appropriate type of workspace for your business will depend on your size, growth rate, and also what will be the most conducive working environment for employees. 

Leasing your own office

Leasing your own office requires building an office from an empty space. Traditional offices cost a lot upfront to renovate, fit out with HVAC (heating, ventilation, air conditioning), decorate, and furnish. A traditional office rental requires a minimum commitment of two years.

Co-working spaces

Co-working spaces and business centres have shared breakout and meeting spaces, allowing start-ups and established companies to meet in a way that’s not possible in conventional offices.

These kinds of shared workspaces do not always offer private, dedicated office spaces like business centres do. The fit-out of co-working spaces is more casual and may not be presentable for entrepreneurs looking for a more professional working environment.

Shared office spaces

Often offered in business centres, which are like hives for flexible workspaces, digital nomads and small companies can choose to share a single office space together, which can be beneficial financially and for collaboration.

Serviced offices

Serviced office rental prices include use of shared amenities like meeting rooms, pantries, and business lounges; maintenance and cleaning fees; client service support; and 24/7 exclusive access to secure office areas.

Also called ‘business centres’ in Asia, they allow you to rent for as short as a few weeks. Some serviced offices also offer co-working spaces and day desks, which can be rented by the hour or day.

Cost-efficient serviced offices come pre-furnished and business-ready. Video conferencing tech, cleaning service, and more extras are included so you’re spending less upfront.

Why a serviced office is a wise choice

Serviced offices are the flexible workplace answer that’s arisen in response to the costly rental price and rigid lease period of traditional offices. The key benefits of business centres are:

• Contract periods of weeks or months – You’re able to commit to however long you need the space. You’re freed from worrying about whether you’ll be able to afford or fit into the office in a year’s time.
• Accommodate 1 to 100+ employees – If your team changes in size in a short period of time, it’s a simple process to scale your office space up or down.
• Shared facilities like meeting rooms, receptions, pantries, lounges – These facilities are maintained by office management and usually included in the rental cost.
• Transparent pricing scheme – Rental cost is calculated in a simple way; per workstation. Also, there are typically no hidden fees or initial capital expenditure (costs associated with fitting out and furnishing the space), so you can free up capital for other initiatives.
• Business services – Reception team, virtual office (get a business address and telephone number without physically moving into an office), printing, and more. For example, Compass Offices offers all of these business services plus concierge service, accounting, corporate secretary, and company registration.
• Corporate image – Serviced offices offer professional exteriors that are appropriate for client servicing. They also offer innovative services, since the industry is still growing.

FAQ about renting an office in Hong Kong

Get in touch with Compass Offices

Compass Offices is a network of business centres in nine cities: Hong Kong, Shanghai, Singapore, Sydney, Melbourne, Manila, Tokyo, Ho Chi Minh City, and Kuala Lumpur, helping young and established incorporations stay agile in APAC. Get in touch with their team to find or custom-create your flexible workspace solution.

• Website: https://www.compassoffices.com/
• Phone: +852 3796 7188
• WhatsApp: +852 6396 7907
• Address: Locations in Sheung Wan, Central, Admiralty, Causeway Bay, North Point, Tsim Sha Tsui

Image credits: Compass Offices

What is a serviced office?

A serviced office, also known as a managed office, is an office space that is usually found within a business centre that is fully equipped and managed by a facility management company, which then rents individual offices or floors to other companies. Serviced office providers are generally able to offer more flexible rental terms, as compared to conventional leased offices, and they often provide internet, reception services, business machines, cleaning and maintenance services, along with other facilities and resources.

Compass Offices — Multiple locations

Compass Offices provides corporates and professionals with business-ready flexible office space at business centres located in prime districts in Hong Kong, as well as across major cities in Asia Pacific. With 13 business centres located in 6 of Hong Kong’s districts across both Hong Kong Island and Kowloon, its serviced offices offer all the facilities and value-added services a modern business needs to thrive, including fully furnished office space, business lounges, café areas, as well as enterprise-grade IT infrastructure, a synchronised Wi-Fi system across all business centres, and on-site assistance from the multilingual client services team. The office rental packages also come with a broad range of business amenities. In addition, they have virtual offices, business services and customisable options to fit your specific needs. It is well worth checking out if you are looking for excellent facilities and a contemporary feel.

Where: Multiple locations across Hong Kong, including Central, Sheung Wan, Admiralty, Causeway Bay, North Point, and Tsim Sha Tsui

Contact: Call +852 3796 7188 or WhatsApp +852 6396 7907

The Executive Centre — Central, Admiralty, Quarry Bay

With over 25 years of expertise in flexible workspace solutions, The Executive Centre is one of the largest office space providers in Asia. Each centre offers a prestigious address with the advanced infrastructure, so when you take on an office space here, you get to enjoy the elevated work experience and complimentary first-class business services, including global access to its business centres around the world.

Locations: Central, Admiralty, and Quarry Bay

Contact: +852 2168 0838

Regus — Multiple locations

With coverage of around 3000 locations spread across 900 cities and 120 countries around the world, Regus has a large international network of workspaces. Members can use the Regus App to find locations and book workspace quickly and work from the full-serviced offices just about anywhere.

Locations: Central, Wan Chai, Causeway Bay, Wong Chuk Hang, Tsim Sha Tsui, Mong Kok, Kwun Tong

Contact: +852 3008 0282

theDesk — Multiple locations

Whether you are looking for a permanent location for your business or you are part of the flexible workforce, every theDesk location has a range of workspace options and services that suit your needs. Dedicated front desk services, 24/7 secure access and CCTV monitoring, multi-function meeting rooms, and complimentary beverages are among the amenities available in its business centres.

Locations: Admiralty, Causeway Bay, Sheung Wan, Sai Wan, Tsim Sha Tsui, Hung Hom Bay, Kwun Tong, Cheung Sha Wan, Sha Tin

Contact: info@thedesk.com.hk

Servcorp — Central & Tsim Sha Tsui

Operating in 20 countries, 41 cities and in 150 locations globally, Servcorp has offices in some of the world’s most iconic buildings, all of which offer first class hospitality, amazing views, and modern interior for a distraction-free atmosphere. By joining its membership, you will have direct access to one of the world’s largest business communities of 50,000 business people, to sell your products and services, create events and discussions, and enjoy discounts exclusive to Servcorp.

Locations: Central and Tsim Sha Tsui

Contact: +852 2251 8808

CEO Suite — Tsim Sha Tsui

CEO Suite is a well-known premium one-stop Serviced Office provider in Asia, run by multi-cultural industry experts to provide first class workplace solutions at reasonable rates. Boasting superb waterfront views of the iconic Victoria Harbour, CEO Suite’s Hong Kong location is housed inside K11 ATELIER. Its flexible workspace can cater for most needs, and offers a space which balances both aesthetics and key functions.

Location: Tsim Sha Tsui

Contact: +852 3166 6166

Three Commas — Aberdeen

Located just across from Wong Chuk Hang MTR Station, Three Commas certainly has the wow factor. Its office space is a combination of co-working space and business centre, and all of the private office spaces are designed with windows or private balcony and noise-reduced walls to create a quiet, comfortable and spacious working environment.

Location: Aberdeen

Contact: info@threecommas.com.hk

ATLASPACE — Tsim Sha Tsui

ATLASPACE is a leading, Grade A Office Operator which provides co-working and flexible private office solutions for all budgets. The offices come fully equipped with premium furniture and access to over 7,000 sq. ft of co-working space, multi-purpose meeting rooms, event space, soundproof phone booths and a members-only lounge area. With minimal security deposits, ATLASPACE provides a convenient, efficient and value-added experience for all private office members.

Location: 16/F, Tower 5, The Gateway, Harbour City, Tsim Sha Tsui

Contact: hk.enquiry@atlaspace.com.hk

Jumpstart Business Centre — Tsim Sha Tsui & Kwun Tong

Jumpstart Business Centre operates a network of serviced offices, virtual offices and meeting rooms in Hong Kong and China. Its serviced offices are furnished to the highest specification, with features like 24/7 secure fingerprint access control, CCTV monitoring, and high-speed Wi-Fi. There are also a variety of add-on administrative and business services catered to individual business needs.

Locations: Tsim Sha Tsui and Kwun Tong

Contact: hongkong@jumpstartoffices.com

My Icon Serviced Office — Causeway Bay

Located at one of the most desirable and prime business locations in Hong Kong, My Icon Serviced Office is only a few minutes away from the Causeway Bay MTR station. The fully-serviced office offers free internet access, photocopying, fully-equipped meeting rooms and pantry, as well as professional reception services, suitable for businesses of all sizes and industries.

Location: 2/F, Cameron Commercial Centre, 458-468 Hennessy Road, Causeway Bay

Contact: info@myiconoffice.com.hk

Mau I Business Centre — Causeway Bay

With decades of experience of serving business partners from different industries in Hong Kong, Mau I Business Centre’s serviced office offers everything you need in order to get started: meeting rooms, comfortable workstations, networking opportunities, and also snacks and drinks. The centre’s interior also doesn’t fail to impress. Its down-to-earth professional design portrays it’s more than a conventional workspace, but one with character.

Location: 15/F, Radio City, 505 Hennessy Road, Causeway Bay

Contact: leasing@maui.com.hk

Office Plus — Multiple locations

Office Plus’ serviced offices are located at the heart of the commercial hubs of Hong Kong Island and Kowloon. The offices’ strategic locations means that workers are not far from the transport links, bus stops and subways are in proximity to the office space, providing easy journeys to commuters. All the usual office conditions have been adequately matched in the fully furnished workspaces with adequate facilities enabling your business to have the necessary foundations to succeed.

Locations: Sheung Wan, Wan Chai, Prince Edward, Mong Kok

Contact: officeplus@hshd.com.hk

Startup Offices — Multiple locations

Startup Business Centre provides fully-furnished serviced offices in four different locations in Hong Kong,  all equipped with excellent facilities, administrative support, and all-inclusive utilities. In addition to providing space for you to kick-start your business, the consulting team at Startup Offices comprises of legal, accounting and tax and marketing experts who can help smooth your way to successful business operation.

Locations: Admiralty, Wan Chai, Tsim Sha Tsui, and Mong Kok

Contact: +852 3728 3728

V&G Business Centre — Multiple locations

Locating in several commercial districts of Hong Kong, V&G Business Centre is an all-round business centre designed to cater for startups, oversea corporates, non-profit organisations and enterprises, with a range of practical facilities and secretarial and corporate services, including reception services, business arrangement, company formation services, accounting and taxation, and visa application services, etc.

Locations: San Po Kong, Tsim Sha Tsui, Kowloon Bay, and Sheung Wan

Contact: enquiry@vgbchk.com

Serviced Offices Booking Platform In Hong Kong

SOHK

The Serviced Office Hong Kong (SOHK) team has accrued years of hands on experience as booking agents for both large corporates, SMEs, and local businesses, meaning they are expertly equipped to manage your business office infrastructure needs. Whether you are an entrepreneur or a representative of your company in finding or booking a serviced or furnished office in Hong Kong, the team will provide expert advisory and secure you the optimal corporate rates, at zero cost to your business. As SOHK covers the entire serviced office market in Hong Kong, the online platform deals with a large number of transactions and thereby securing and negotiating the optimal prices for businesses. Moreover, if you do not find a serviced office on their website, simply let them know, and you will be eligible for Apple gift cards via your bookings through SOHK (subject to length of lease and serviced office availability).

Where: Visit the SOHK online platform.

Contact: info@servicedoffice.com.hk

Header image credits: CEO Suite

The study, which was released on Wednesday, found that male employees’ monthly earnings decreased by $300, making their median earnings HK$20,700. However, women’s monthly salary remained the same as last quarter, at a median of $18,000. Monthly earnings decreased across a variety of industries, including finance, insurance, real estate and professional services.

While Hongkongers continue to work an average of 40 hours per week, the report states that men now work two hours more per week than they did in the previous quarter. In addition, it found that 13.2% of employees in the city work more than 60 hours a week, which amounts to a 12-hour workday during a five-day workweek.

Earlier this year, Hong Kong took the stop spot as the most expensive city in the world. Another study found that Hong Kong employees were the most stressed in East Asia, as they reported feeling the most stress, worry, anger and sadness in the region. The SAR also ranked No. 2 on a list of Top Overworked Cities in the World.

Image header credits: Eduard Goricev’s Images via Canva

Think about A-grade, sought-after business addresses in Hong Kong. Chances are that the following places spring to mind: Cheung Kong Center, Lee Gardens, World Wide House, AIA Tower, Silvercord. Compass Offices has serviced offices in all of these locations, plus more in the vicinity. The fact is that in a landscape as competitive as APAC, a central address says much more about your company to overseas clients or prospects than just where you commute.

Why serviced offices are the solution for modern enterprises

With locations in major Asian cities (Tokyo, Singapore, Kuala Lumpur, Manila, Shanghai, Ho Chi Minh City, plus locations in Sydney and Melbourne), Compass Offices strives to be the leading serviced office provider for international corporations. Indeed, the 200,000 clients under Compass Offices’ umbrella come from varied industries and scales, ranging from Fortune 500 companies, finance, and senior recruitment to high-end retail, government organizations, and rapidly growing SMEs.

What is the advantage of a serviced office over a traditional office? Traditional offices are bare spaces rented for long-term periods. These leases tend to be priced per square foot and are subject to additional costs such as facility management, service charges, and upfront CapEx (capital expenditure) to fit out the space, i.e. transforming it into a functioning office.

On the other hand, serviced offices provide ready-to-use office facilities, meaning no fussy transition time, with flexible lease periods starting from months. Prices are more agile, being based on the number of workstations and amenities you want rather than per square foot. In short, serviced offices are more convenient and more cost-effective since you only pay for the facilities that you need, without extra cost for set-up or maintenance. You can also avail of access to new markets, with exciting connections the next office or floor over.

What sets Compass Offices apart from other serviced offices?

Compass Offices has an unmatched range of flexible workplace solutions, with a comprehensive flow of shared offices, hot desks for individuals, and secure private offices for over 100 employees. They can also design and build customised workplaces in existing addresses or new locations from scratch to client specifications.

All locations come complete with professional lounges, reception areas serviced with trained Client Services teams, café areas, pantries, meeting rooms, facility areas for printing and photocopying, and modern enterprise-grade IT infrastructure.

Compass Offices has an unmatched range of flexible workplace solutions, with a comprehensive flow of shared offices, hot desks for individuals, and secure private offices for over 100 employees. They can also design and build customised workplaces in existing addresses or new locations from scratch to client specifications. All locations come complete with professional lounges, reception areas serviced with trained Client Services teams, café areas, pantries, meeting rooms, facility areas for printing and photocopying, and modern enterprise-grade IT infrastructure.

Self-employed professionals and start-ups can also benefit from Compass Offices co-working spaces (in select locations), short-term office suite rentals, and virtual office services (reputable address, call and mail forwarding, etc.) which can also service international firms breaking into new countries.

With direct fiber from ISPs into Compass Offices networks, synchronized Wi-fi across all their business centres, plug-and-play IT solutions, and the newest in telecom systems, Compass Offices makes setting up your new office so easy and convenient. Start to work in an environment that will be optimised for your company’s success today.

Meet Compass Offices

• Website: https://www.compassoffices.com/
• Phone: +852 3796 7188
• WhatsApp: +852 6396 7907
• Address: Locations in Sheung Wan, Central, Admiralty, Causeway Bay, North Point, Tsim Sha Tsui

Image credits: Compass Offices

Globally, the survey found that 89% of respondents prefer to work from home, while 54% are actually given this option. The survey was conducted by asking over 52,000 employees across 44 countries and territories about their feelings and perceptions regarding job security amid the challenges they face because of the Covid-19 pandemic. More than 1,000 respondents were from Hong Kong.

The survey also found that Hong Kong employees are more likely to ask for promotions and raises (90%), compared with their global counterparts (73%). It also stated that in Hong Kong, 57% of employers tackled skills shortages by increasing wages, while 48% of them resolved the issue by upskilling workers.

Half of Hong Kong employees admit they do not get many chances to learn new technical or digital skills that are needed for their careers. In addition, 45% of Hong Kong employees say there is no opportunity to work with and learn from colleagues with digital skills.

Michael Cheng, People & Organisation Advisory Digital Lead Partner of PwC Hong Kong, recommended that employers in the city provide employees with “more digitalised tools and trainings, and take a more holistic approach to addressing retention risk such as pay and career development for those who cannot work remotely or in a hybrid format”.

There are companies in the SAR that appear to be taking strides in this direction. In June, Hong Kong conglomerate New World Group launched family-friendly measures by which employees could work for four-and-a-half days in the week and use one of those days to work from home. The pilot programme began in July and will run till September, after which it will be evaluated.

Header image credits: g-stockstudio via Canva

In Hong Kong, 54% of respondents said they feel stress every day, compared with the rest of the world (44%). Among the other countries surveyed in East Asia, China came in second on the stress index at 50%, followed by Japan (43%), South Korea (38%), Taiwan (33%), and Mongolia (18%). The report also stated that employees in East Asia feel the most stress.

Hong Kong employees reported feeling daily worry (40%) and daily anger (25%), which topped the global responses of 37% and 21% respectively. However, the city’s daily sadness index stood at 18% compared with the rest of the world (23%). Only 13% of respondents said they were likely to move, as opposed to the global response of 20%.

The study, which was conducted by US research organisation Gallup, found that stress among the world’s workers was at an all-time high. While this year’s study saw declines in overall worry, sadness and anger, they were still higher than during pre-pandemic times.

Earlier this year, Hong Kong topped a list of the most expensive cities in the world. The list, which compared prices of goods and services across more than 400 cities worldwide, cited the strong Hong Kong dollar and inflation as the main reasons behind the city’s No. 1 ranking.

Header image credits: Muk Photo via Canva

The group said the initiative will be introduced in their New World Development, K11 and NWS Corporate Office business units. The aim of this programme is to help employees maintain a healthy work-life balance and adapt to the new normal at work.

The main features of this initiative are:

• The Summer Fridays programme under which employees can take half-day leave every Friday with no change in salary.
• Giving employees the option of working remotely one day a week for which they will get the latest technology and technical support so they can maintain close contact with their teams.
• A hybrid work model to allow employees more flexibility in arranging their work hours and locations.
• Alternative flexible work arrangements for employees who cannot avail the Summer Fridays benefits.

This development comes after Hong Kong ranked No. 2 among the Top Overworked Cities in the world, according to Kisi’s Cities with the Best Work-Life Balance 2022 survey. The study took into account the work intensity, how society and institutions supported residents during the Covid-19 pandemic, and the liveability of 100 cities across the globe.

In addition, the 2022 edition of the Randstad Employer Brand Research study found that Hong Kong employees now place more value on work-life balance than pay packages. According to the study, over 60% of respondents voted work-life balance as the most important employee value proposition, and 85% of them took steps to improve this aspect by putting in less overtime or working more flexible hours.

Header image credits: New World Group

It doesn’t matter how long you have employed someone, or the length of their contract, or even the hours they work – both part-time and full time, contracted and temporary workers are covered under the Employee’s Compensation Ordinance. The type of insurance designed to fill this legal requirement is called Employees’ Compensation Insurance, or just EC Insurance.

What Is The Employee Compensation Insurance?

The Employee Compensation Insurance is a mandatory insurance for employers which covers their responsibility if an employee injured himself, while performing its duties, in the work premises. It’s a type of Hong Kong Insurance product which has been designed to fill the requirements with the Employees’ Compensation Ordinance, Cap. 282.

Under Hong Kong law the minimum levels of coverage are:

• HK$ 100 million for employers with fewer than 200 employees.
• HK$ 200 million for employers with more than 200 employees.

If an employee suffers a work-related injury in the normal course of their employment, then the insurance policy will compensate them with a financial settlement. This settlement factors in both the severity of the injury and the lost earnings of the employee due to the injury.

Who Needs Employees’ Compensation Insurance?

According to the Employees’ Compensation Ordinance, any and all employers in Hong Kong need to obtain EC Insurance. This means that companies and businesses need Employees Compensation Insurance, as do individuals employing domestic workers. In fact, many maid insurance products in Hong Kong will provide EC insurance to employers of domestic helpers as part of the standard scope of coverage.

No company or employer is exempt from the requirement to obtain Employee’s Compensation insurance. If you pay someone to do any job then you are, legally, required to hold this type of insurance policy.

What Are The Penalties For Not Having EC Insurance?

If you are an employer without Employees’ Compensation Insurance coverage in Hong Kong then you are liable to a fine of up to HK$ 100,000 and imprisonment for a term of up to two years. Additionally, any employer found guilty of not satisfying the Employees’ Compensation Ordinance will be required to make a surcharge payment to the Employees Compensation Assistance Fund Board.

It is important to note that the Hong Kong Labour Department will routinely conduct spot checks to ensure that businesses and employers are complying with all relevant local EC insurance regulations.

How To Get The Employee Compensation Insurance For Risky industries?

In some cases, depending on the industry or sector you operate in, it may not be possible to purchase insurance through regular channels. This is due to the fact that traditional insurers view some industries as being inherently risky and dangerous, and can decline to offer coverage.

This obviously contradicts the requirement under Hong Kong law that all employers obtain comprehensive Employee’s Compensation Insurance, and can be stressful to certain high-risk businesses. The good news is that the Hong Kong government operates the Employees’ Compensation Residual Scheme Bureau.

The ECRSB allows individuals and businesses who have been declined cover by at least 3 separate insurers, or which have been quoted premiums in excess of 30 % of standard market rates, to receive the necessary protection required under law.

Get A Free Employee Compensation Insurance Quote With CCW Global

If you are an employer in Hong Kong and would like to learn more about Employee Compensation Insurance, or receive a free quotation for a policy, then please contact CCW Global Ltd today.

CCW Global Ltd is an expert insurance broker in Hong Kong. Operating since 2012, CCW Global simplifies insurance by empowering you to make the decisions about the products and coverage solutions which best meet your needs.

Contact CCW Global to arrange a no risk, no obligation consultation for your Employee’s Compensation coverage today!

More about insurances in Hong Kong:

• The 3 Main Types Of Insurance Companies In Hong Kong (And Their Pros & Cons)
• All You Need To Know About Business Insurances in Hong Kong
• Critical Illness Insurance in Hong Kong : Are You Covered?
• Protect Your Business: 5 Must-Have Professional And Financial Insurances in Hong Kong
• Your Guide To Motor Insurances in Hong Kong
• All You Need To Know On Public Liability Insurance In Hong Kong
• Your Go-To Guide To Event Insurances In Hong Kong
• 3 Reasons To Get Insurance Before You Fly this Christmas
• Do I Need Health Insurance in Hong Kong?
• Home Insurance in Hong Kong: What you need to know
• The HK HUB Startup Insurance Guide

Using insurance coverage to help protect your investment means you’ll have peace of mind as you navigate the challenges and pleasures of starting your new adventure. Business insurance covers companies for a wide range of events and exposures such as weather-related events, public liability issues or cyber threats.

Is business insurance necessary in Hong Kong?

There is only one type of insurance coverage required for all businesses to purchase in Hong Kong: Employee’s Compensation (EC) insurance. The law mandates that every company must carry Employee’s Compensation insurance to protect its employees from potential damages in their workplace.

However, several additional insurance products help make sure companies are protected from a wide range of additional risks. Many potential adverse events may happen, so having insurance coverage in addition to the mandatory EC protection can be extremely helpful.

What is Employee’s Compensation Insurance?

Employee’s Compensation Insurance is coverage designed to protect employees in the course of their work, regardless of whether they are part-time, temporary, or full-time.

As the only compulsory business insurance product in Hong Kong, it is essential to purchase      this coverage when starting your company if you have employees. EC insurance protects staff if they are injured while working, and it protects your company from financial responsibility towards workplace injuries.

There are many different plans to select from, and most major General Insurance carriers sell a version of this insurance coverage.

The Hong Kong government also offers the policy through The Employees’ Compensation Insurance Residual Scheme Bureau Limited to employers that have been denied EC coverage by at least three insurers, or companies with job natures that fall under the High Risk Group (e.g. demolition work, crane operation, window cleaning).

The premium for EC insurance is calculated based on a number of factors, such as the number of employees you have, their job duties, their salaries, and their ages. If you have fewer than 200 employees, the minimum necessary insurance coverage is 100 million HKD. If you have more, the minimum is 200 million HKD.               

Employers who do not carry the appropriate mandatory insurance coverage may face steep penalties and consequences, including:

• Fines up to 100,000 HKD
• Imprisonment for up to two years
• Mandatory payment to the Employee’s Compensation Assistance Fund
• Lawsuits

What are the major non-mandatory insurances?

While Employee Compensation Insurance is the only mandatory business insurance your company must have in Hong Kong, there are several other major types of business insurance you should consider purchasing.

Medical Insurance

Medical insurance is an insurance product designed to help cover medical costs incurred by employees that are unrelated to work injuries. Medical insurance is a key benefit many employees want to have, so it can be a valuable employee benefit you offer.

Medical insurance often covers outpatient, hospital and inpatient treatments. Some policies may also provide dental care, worldwide evacuation maternity care and an annual physical for each patient.

Business Contents Insurance

Business and office contents insurance helps protect the items and physical property in your office from theft and loss. If you lease out your office premises, this coverage can help protect you from damages to the leased property.

Business and office contents policies are often written on an all-risks basis. 

Public Liability Insurance

Public liability insurance is important for many business owners. If you invite the public to your business or event location, having public liability insurance can help to protect you from various liability risks from third-party property damage and personal injury.

Cyber Security Insurance

Cyber insurance is becoming increasingly important, with cybersecurity a growing concern. Many companies are affected by security or data breaches, malware, phishing attempts, and ransomware attacks. Cyber insurance can help protect you from these risks and the expenses associated with mitigating cyber exposures.

Business Interruption Insurance

BI coverage is designed to protect your company from financial losses should your business be closed due to a covered benefit, such as severe weather interruptions, strikes, or government seizures. Typically, the benefits will be specific to the work nature.

If you suffer a loss because you must close your doors to customers for a time, your BI insurance can help.

Professional Indemnity Insurance

Professional Indemnity (PI) Insurance is important supplementary business insurance to consider if your business involves giving professional advice to clients. PI Insurance helps to protect your company against lawsuits raised for inadequate advice or services that have caused harm to your clients. It can also provide coverage for damages and legal defense, such as attorney’s fees and filing costs.

About CCW

CCW is a reputable insurance broker located in Hong Kong. They can help you obtain free competitive quotes for your many insurance needs.

CCW makes it easy to view personalized comparisons from different companies to help you make the best choice.

More about insurances in Hong Kong:

• The 3 Main Types Of Insurance Companies In Hong Kong (And Their Pros & Cons)
• All You Need To Know About Employee’s Compensation Insurance In Hong Kong
• Critical Illness Insurance in Hong Kong : Are You Covered?
• Protect Your Business: 5 Must-Have Professional And Financial Insurances in Hong Kong
• Your Guide To Motor Insurances in Hong Kong
• All You Need To Know On Public Liability Insurance In Hong Kong
• Your Go-To Guide To Event Insurances In Hong Kong
• 3 Reasons To Get Insurance Before You Fly this Christmas
• Do I Need Health Insurance in Hong Kong?
• Home Insurance in Hong Kong: What you need to know
• The HK HUB Startup Insurance Guide