Britain in Hong Kong March-April 2023

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C O N T E N T S

TRAVEL 2.0: WE’VE RETURNED TO THE SKIES…NOW WHAT?

Todd Handcock, President, Asia Pacific, Collinson

MESSAGE FROM CHAMBER CHAIR 02
a letter
share updates on the Chamber's activities UNDERSTANDING EVERYDAY BEHAVIOUR & GENDER EQUALITY ISSUES IN HONG KONG’S LEGAL SECTOR 13 Mayer Brown & Women in Law Hong Kong DIVERSITY, EQUITY AND INCLUSION: GOOD FOR OUR YOUNG PEOPLE, GOOD FOR BUSINESS AND GOOD FOR HONG KONG 09 Belinda Greer, CEO, English Schools Foundation UK NATIONAL INSURANCE CONTRIBUTIONS 17
HONG KONG: UPDATES TO CYBERSECURITY AND CYBERCRIME LAWS 19 Baker McKenzie PROMOTING D&I IN THE WORKPLACE 05 Kajal Aswani, Partner, Gall Solicitors ACHIEVING FINANCIAL FREEDOM 23
from the Chamber Chair to
Sam Harley, Financial Planner, Pyrmont Wealth Management
Interview with Matthew Curtis, Chartered Financial Planner The Fry Group
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CHAIR'S MESSAGE

Dear Members,

Kung Hei Fat Choi, and may this Year of the Water Rabbit bring much joy, energy, vitality and reward to you all.

I am very glad that we are already seeing more activities and visitors returning to Hong Kong. We are also hearing favourable comments on the energy and vitality in the community - may the positive vibes only get stronger.

Since my first magazine address, we have started to see a rebound in visitors coming to see Hong Kong for themselves, to reunite with families Schools have had more in-person teaching and activities Colleagues and business partners have been reconnecting with colleagues and partners from many parts of the world, and c-suite visits are definitely back on the agenda. We eagerly await more chances to say Hello at train stations, ferry terminals, the airport and in our offices and at Chamber events.

With the social distancing rules lifted, we were thrilled to receive a former resident of the City, and host a luncheon for the British Ambassador to China, Dame Caroline Wilson DCMG. It was a lovely and lively event, and we look forward to more returnees and visitors to Hong Kong and a great start to the Lunar New Year

As I noted in my previous address that I am keen to engage with the wider membership in both the business context as well as that important sense of connection and community we enjoy as a Chamber of Commerce, and we are looking to bring a variety of exciting activities.

In terms of committee work, there has been a lot of activity and engagement with Government following the Chief Executive’s Policy Address. All committees

are actively engaging with the wider business community, Government and other stakeholders as part of the concerted effort to energise the economy We all clearly recognise and share concerns with many other organisations around the competition for talent. While many good schemes are being implemented, the opportunities outweigh those able to take up the roles. We are encouraging all members to think about how we can encourage overseas talent to “think Hong Kong” and choose this vibrant and exciting place to live and work!

With the opportunities in mind, we are focusing much attention on outcomes and actions with respect to the Greater Bay Area (GBA) Committees are considering how to shape agendas and activities around the opportunities for the benefit of members

For example, the newly appointed Chair of the Real Estate Committee, Shaman Chellaram, together with the committee, have fostered further diversity and engagement in the sector, with plans for a Hong Kong Real Estate event in March and a joint BritCham/Urban Land Institute event in Q2. As Shaman notes, “With real estate a fundamental driver of our economy, we will engage key partners

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and stakeholders across Hong Kong, GBA and ASEAN to drive advocacy and foster collaboration and opportunities for our members and related businesses ” Integral to the future development and redevelopment of the built environment in Hong Kong and the GBA are the increasingly important three letters in everyone’s mind – ESG

The Financial Markets Committee (FMC) is no exception, as the focus increases on ESG issues (green and sustainable finance, carbon trading and diversity & inclusion), maintaining Hong Kong as an international financial centre (Greater Bay Area and promoting growth in insurance and asset management) and promoting Hong Kong as a regional hub for financial services innovation and risk management “We are optimistic that 2023 will bring renewed business opportunities for our members ” according to Jill Wong, Chair of FMC

At the time of going to press the BritCham Social Sustainability Symposium will be in full swing, where the key focus is 'Putting Social Impact at the Core of Your Business' We were delighted to have more than 20 industry experts from a range of businesses speak around three core themes:

Leading with purpose for future generations resonates with all; Putting social impact at the core; and Collaboration and transparency which focused on tackling the social issues in the supply chains.

These very topical, relevant and important topics will continue to be widely discussed

The Women in Business Committee is showing the way for Women in Business Week with an Asia Comedy Premiere of PIVOT, an award-winning comedy series about the bias women face to get to the top. On International Women’s Day, I am delighted to have been invited along with the Chair of WIB, Eileen O’Connor, some of our Future Leaders and Women in Business Committees to “Ring the Bell for Diversity” at the Hong Kong Exchange!

From a Creative Industries perspective, we eagerly await the Hong Kong International Literary Festival early in March, with Art Basel towards the end, around the same time as the Museum Summit

In addition to the foregoing, the month will be “topped out” by saying Hello Hong Kong to many visitors who are expected coming to Hong Kong to enjoy the HK Rugby 7’s. For the second time in less than 6 months the 7’s have been held, heralding a return to “normalcy” for many a social and business diary. As in previous years, we are co-organising a BritCham & KPMG Rugby Dinner, and we look forward to seeing many of you there.

All in all, March is the month for reconnecting, making new acquaintances and reminding ourselves that Hong Kong is the place to work hard and play hard

Thank you all for your ongoing support, and I look forward to seeing you out and about – getting business done

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The Chamber held a half-day Social Sustainability Symposium in February 2023. With a key focus of putting social impact at the core of your business, we explored how to put the community at the heart of your company’s culture, strategy and operations, and build a better future for Hong Kong. Our industry experts from all sectors shared their opinions and offered valuable insights across the following three sessions:

1) Leading with purpose for future generations

2) Putting social impact at the core

3) Collaboration and transparency - tackling the social issues in supply chains

The ‘S’ in ESG is not just about creating social impact, it’s critical for businesses to attract and retain talent, customers and clients Putting sustainable social impact at the core of your business can give you a competitive edge and help you to build a brand with purpose.

120+ ATTENDEES

15 SPEAKERS

2 KEYNOTES

3 PANELS

Challenges as Ethnic Minorities in Hong Kong

I am fluent in Cantonese and yet faced tremendous hurdles when studying at a local school in Hong Kong in the 1990s. The opportunities to fully integrate into a Chinese learning environment were limited and in fact restricted in my case due to my school’s lack of experience in teaching Chinese to ethnic minorities. I clearly recall that during my Chinese lessons, I was told that instead of learning Chinese like the rest of my Chinese classmates, I should focus on completing my homework This went on for 4 years until my school realised that the system was not working They then began segregating ethnic minorities from Chinese, grouped them in separate classes and taught ethnic minorities French instead Unfortunately, not only did I miss out on the opportunity to learn Chinese but I was also separated from my Chinese classmates giving me very little opportunity to interact with them and learn about their culture

Upon graduation, I enrolled in a part-time legal diploma course offered by the School of Professional and Continuing Education at the University of Hong Kong, whilst working full-time at a large magic-circle UK firm. I saved up sufficient funds to pay for my tuition at the University of Sheffield to complete my law degree. I went on to complete my Postgraduate Certificate in Laws at the City University of Hong Kong.

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At the time, very few women from the Indian community pursued a career, and even fewer had the courage to pursue a career in the legal industry. Despite having the requisite qualifications, I did not secure a single job interview due to my lack of Chinese proficiency. Fortunately, through the referral of my PCLL course leader, I secured a training contract with a notable independent law firm in Hong Kong and became a partner of the firm 10 years later

Building a Network for South Asian Lawyers

Across Hong Kong, and not just in the legal industry, ethnic minorities are often overlooked in the job interview process because of their lack of Chinese proficiency. Over the past few years, however, the Hong Kong Government has made efforts to overcome barriers faced by ethnic minorities, evident in the way several bureaus and departments in the civil service have hired non-ethnic Chinese (“NEC”) to meet specific operational needs.

The Hong Kong Police Force has also enhanced ethnic diversity by offering Chinese classes to help NEC youths who wish to join the disciplined forces or civil service.

Furthermore, the Equal Opportunities Commission has recommended that the Government intensify the review of Chinese language proficiency requirements by introducing in-service language training programmes for NEC candidates not meeting the Chinese Language Proficiency Requirements (“LPRs”) but excelling in other skills Whilst these actions are steps in the right direction, more needs to be done to help the underserved community of Hong Kong

Given my own struggles in finding a training contract, I was eager to make a change and improve the integration of South Asians in the legal industry. Therefore, in 2006, I co-founded the South Asian Lawyers

Group (“SALG”) where I support South Asian law students and legal professionals by connecting them with others in the industry With over 150 members, I have helped multiple South Asians secure internships and interviews at well-renowned law firms in Hong Kong

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Kajal Aswani with an SALG Gall winter intern SALG networking drinks

Another way I have been involved in supporting ethnic minorities in the workplace is through my new role serving on the Executive Committee (ExCo) of EMPOWER by local NGO The Amber Foundation. The EMPOWER program serves marginalised, university attending or recently graduated, ethnic minority women in Hong Kong – seeking to increase the visibility of these young women to potential future employers through the creation of professional networks and skills training workshops

The Business Case for Promoting D&I

Diversity in the workplace is about embracing what makes people in an organisation different It is a wellknown topic that helps companies differentiate themselves from others, encouraging staff commitment and loyalty, decreasing attrition and, if implemented correctly, can become a crucial part of a company’s growth strategy

In the 2020 “State of the Candidate Survey” by Monster, more than 4 out of 5 Gen-Z jobseekers (83%) view commitment to diversity and inclusion as an important factor when choosing an employer

Furthermore, in a 2020 report McKinsey & Company put together entitled “Diversity Wins: How Inclusion Matters”, findings demonstrate that:

Organisations with the most diverse executive teams were 25% more likely to have above-average profitability than those with the lowest levels of diversity; This is up from 21% in 2017 and 15% in 2014; Firms in the top quartile for ethnic diversity were 36% more likely to financially outperform those in the bottom quartile.

Earlier McKinsey reports also show clear evidence of the commercial advantages companies can achieve by building diverse teams, particularly at senior level

Embedding D&I Into a Firm’s Culture

There are many ways that firms can foster a diverse and inclusive workplace Some suggestions are:

Have open discussions with employees and other stakeholders about what D&I means to them and why it is important;

Set a solid D&I strategy and plan with clear targets that can be achieved within a specific time frame. The EOC’s 2018 “Racial Inclusion and Diversity Charter for Employers” serves as a useful reference and provides interested employers with a checklist of policies and practices which can be implemented to further their initiatives;

Involve people from a diverse range of backgrounds in the firm’s interview process. Consider re-wording job descriptions, for example, if a role doesn’t specifically require Chinese language skills then consider removing this point and stating specifically that Chinese language is not a requirement to attract a wider group of applicants;

Encourage inclusive behaviour in the workplace by way of talks, events or celebrating important religious events of staff from multi-cultural backgrounds This helps instil a sense of belonging and togetherness; Collaborate with groups and organisations whose membership are comprised of under-represented talent; Attend conferences, events and community outreach initiatives that align with your firm’s values

D&I initiatives should push the agenda forward for change because the benefits of inclusivity are shared by everyone.

About Gall Solicitors

Gall is a leading independent Hong Kong law firm focusing primarily on dispute resolution. We specialise in handling highly complex disputes, many of which involve multi-jurisdictional litigation.

1. 2. 3. 4 5 6
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Kajal Aswani Partner

DIVERSITY,EQUITYANDINCLUSION: GOODFOROURYOUNGPEOPLE,GOODFORBUSINESS ANDGOODFORHONGKONG

EnglishSchoolsFoundationCEO,BelindaGreer, arguesthatfullyembracingDE&Iwillhavepositivebenefitsforourpeople–andourbottomline

One of the many benefits of working in education –particularly when your career has been as long and varied as mine – is that you get to see, first hand, the emergence of new trends and new ways of tackling issues that affect our society.

Change is, rightly, driven by our young people. Without their constant demand for improvement, for new thinking and positive action, they would simply be inhabitants of a world that has been shaped for them by others

One of the most positive developments that I have seen in recent years has been the way that Diversity, Equity and Inclusion (DE&I) has cemented itself in our everyday lives and our everyday thinking. There is a genuine sense now that we are better and stronger as both individuals and as a society if we move on from the past view that we should be looking to assimilate everyone into a collective norm

People are different and this difference is to be celebrated – not just because it is the right thing to do, but because it can bring tangible economic benefits to our companies, our cities and our countries

There is a wealth of research out there that sets out the point that companies who invest in their people, who ensure that their employees feel valued, respected and understood, perform better than those who do not. High-performing companies are built on high-performing teams - and those teams are at their best when they know that they are operating in a culture and an environment that is fully supportive of who they are and what makes them unique

However, even with this mounting body of evidence, there does still exist, in some quarters, scepticism and debate about the value in investing in DE&I programmes or in making it a priority for

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organisations. This conservative view states that launching on a deeply embedded DE&I journey will only put pressure on already limited resources and that truly investing in this area will not give the necessary return and does not represent value for money

This, to me, is the wrong frame for the discussion We are not looking to “fix” issues, we are looking to optimise our potential Here in Hong Kong we live in an incredibly diverse environment, with people drawn to us from different parts of the world, with different backgrounds and different skills and experiences. As we re-emerge from the pandemic, this will only accelerate.

If we are to make the best of this diversity, if we are to properly harness the talent of the individuals within our organisations, then we must take it seriously.

At ESF, we have been on our own DE&I journey in the past few years We began the process by accepting that, while we had a vision of who we wanted to be as an organisation, we could not assume that we were there yet

We brought in external consultants to evaluate and audit our policies, processes and ways of workingbut, more than that, we listened to the actual experiences of our staff, our students and their families.

The results of both of these exercises allowed us to really understand where we were and what we needed to do in the future. In short, our plan was built on a real-world, authentic sense of what was needed.

Schools are a place where our young people don’t just get taught, they are a place where they learn to be the person they want to be Schools often have a culture, something that has been built up over many years - if not generations While these cultures are, in the main, almost always positive, they do allow for blind spots to emerge

There are places where we allow bias - either

consciously or unconsciously - to creep into how we work and how we interact with others. It is only by looking for them, by speaking to people and really listening to views that you can first identify these gaps in your culture and then set out to tackle them

We are undoubtedly a better organisation for starting to walk down this road While we are nowhere near the end of the journey and, arguably, this is a piece of work that should not have a defined endpoint - we have already seen some very tangible results

One of the best examples of this is the way in which we have opened up our planning processes and brought more voices into it. We have always had a consultative ethos within ESF and we are proud of the fact that we work hard to bring people with us when we are making decisions. Since we have started to fully embrace DE&I we have taken this approach to the next level We actively seek out student voice and student opinions on things that, previously, would have most likely been only considered by staff and parents

It is helping us to enhance our sense of community and is giving students practical experience of policy development and decision making Crucially, it is not something that requires a major investment - all we have done is taken an approach that already existed and looked at it through a different, more inclusive lens.

This need not be expensive - either in relation to time or money, but the benefits to us as an organisation and to the young people are clear. There is no doubt that the world around us is going through a period of rapid change. Even before the pandemic, the ubiquity of connectivity and the emergence of AI and AR was having a fundamental impact on the way we live and work

The extraordinary way in which societies adapted to the pressures of Covid-19 has only accelerated that change We have embraced technology in an entirely new way and our workplaces have been forever altered.

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Those of us who work in education are pushing hard to not just be reactive to that change, but to ensure that we are equipping our young people with the skills they need to shape the world that they will enter when they finish their studies.

However, that is only half the battle. If we are to truly capitalise on the technological whirlwind that we find ourselves engulfed in, then we have to ensure that we send people out with the right attributes and that our businesses and organisations are equipped to properly receive them.

As leaders and business owners, we have to understand the strength that comes from celebrating diversity and the gains that we can make by recognising and nurturing the unique, individual talents of each person we work with

In doing this we have the opportunity to carve out a truly special global reputation for Hong Kong.

We are already known as a city of innovation, of big ideas and of big deals. DE&I can only enhance this. Cultivating and celebrating diversity will lead to greater involvement in our businesses from wider groups of people and this will, surely, lead to more creativity, more innovation and even bigger ideas.

In the coming months, thanks to the various initiatives announced by the Chief Executive, we are all hoping to see a reverse of the exodus of the Covid years and an influx of the brightest and the best to this remarkable city of ours

Such is the attractiveness of Hong Kong, these people will come from many countries, many cultures and with many unique experiences and needs.

They are coming. It is incumbent upon us to be ready to receive them.

About The English Schools Foundation

The English Schools Foundation (ESF) is the largest provider of English-medium international education in Hong Kong. Made up of 22 schools, ESF delivers a world-class education to students from K1 to Year 13.

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THIS MARCH, BRITCHAM SUPPORTS: INTERNATIONAL WOMEN'S DAY

Introduction

There is a growing body of research worldwide that highlights the gender inequality faced by women in the workplace This can take the form of everything from subtle biases through to outright sexism. For example, Women in the Workplace 2018, the largest comprehensive study of the state of women in corporate America, found that two-thirds of women face microaggressions in the workplace. First coined by Harvard University psychiatrist Chester Pierce and popularised by Columbia University psychologist Derald Wing Sue, microaggressions are “everyday verbal, non-verbal and environmental slights, snubs or insults, whether intentional or unintentional, which communicate hostile, derogatory or negative messages to target persons based solely on their marginalised group members”

In Hong Kong, a membership survey conducted by the Law Society in 2019 found gender discrimination the most prevalent form of discrimination, followed by family status discrimination. The survey found that while women make up 65% of trainees, only 30% of partners are women, and we suspect that a key reason why the proportion of female lawyers decreases as they become more senior might be due to the negative everyday experiences faced by female lawyers and potentially business support staff as well.

Despite the speculation, there is an acute lack of data around issues relating to microaggressions in Hong Kong and specific to the legal profession which makes it challenging for such issues to be substantiated by statistical evidence and formally addressed This inspired us to want to find out exactly what types of behaviour women in Hong Kong’s legal sector are facing and how they are reacting to it. With this data, the Hong Kong legal sector can work towards addressing subtle discriminatory behaviour, closing gender gaps in career advancement and promoting a fair working environment.

Under this premise, Mayer Brown and Women in Law Hong Kong (WILHK) joined forces to conduct the first of its kind research survey that aims to uncover the range of behaviours that women in the Hong Kong legal sector have to deal with every day Accenture

Greater China supported this initiative by advising on the data collection, the analytics and deriving key takeaways from the insights generated

This executive summary highlights five key findings of our survey, which was conducted in 2022 and drew responses from more than 360 women and men who are currently working or have worked in the Hong Kong legal sector.

13 U N D E R S T A N D I N G E V E R Y D A Y B E H A V I O U R & G E N D E R E Q U A L I T Y I S S U E S I N H O N G K O N G ’ S L E G A L S E C T O R B Y M A Y E R B R O W N & W O M E N I N L A W H O N G K O N G

1. Women are often “advised” to change career paths or to take up a different specialty based on their gender

While capability and ambition are not determined by gender, the career choices of a significant number of women in the legal profession are questioned based on gender norms If they are in private practice, they receive suggestions to move in-house, whereby it is perceived to have greater likelihood of more regular hours or greater flexibility at work.

Some survey respondents who continue to stay in private practice noted that they have received suggestions to consider exploring different legal specialities. The assumption is that women would be better suited to the ‘softer’ side of law, and thus are often recommended to move into areas such as family law, rather than the areas of practice which are perceived to require more aggressive or confrontational representation, such as criminal law or commercial law

Whilst it may be easy to dismiss and reject these suggestions, the lasting impact is that women have their confidence, either in continuing their career path or in maintaining their chosen practice area, undermined. This may be leading to a higher attrition rate among female lawyers in the legal sector than should be the case.

2. Caregivers are discriminated against

Based on the survey, women with caregiving responsibilities are noticeably disadvantaged when they seek to develop their careers They consistently face false assumptions that just because they are now caregivers, they are no longer committed to work or are not in a position to take up new challenges.

Another obstacle many of those surveyed spoke about is the “Boys’ Club” culture in many workplaces, whereby men of all seniority levels group and bond together and consciously or unconsciously exclude women from that club.

Felt left out on opportunities because of your gender (e.g., business development/ business trips/ after-work client networking/ opportunities that may increase your visibility at work)

Received solicited or unsolicited advice regarding the practice of an area of law in relation to gender

Women then feel a distance that discourages them from continuing to seek support for the next promotion and/or seeking to break into the “club”.

3. Women suffer from biases and face low awareness of their presence in key settings

Many women in the Hong Kong legal sector report that

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Felt differential treatment due to your gender

they are sometimes overlooked or discredited in meetings as a result of either lack of awareness of biased behaviours such as “mansplaining” or biases that people hold such as women being less able than men Women say they are too often ignored, interrupted or undermined in workplace settings because of those biases

4. Women often receive unwanted comments about their dress/appearance or behaviour

Female respondents reported that they continue to receive unwanted comments about their

dress/appearance or behaviour. At worst, these comments are offensive and, even if they are not offensive, they are uncalled-for. What women wear or whether they conform to gendered societal expectations of behaviour is irrelevant to their professional capability, yet stereotypes persist

5. Microaggressive behaviour against women increases as they become more senior

Sadly, senior female respondents reported that those who do advance in their career are subject to more, rather than fewer, incidents of microaggressive behaviour Some report that they are allocated assignments of a lesser status or given more menial administrative tasks than their male counterparts Such differential treatment becomes more pronounced as female lawyers rise through the ranks and together with the compound effect of all the other microaggressions identified above is, we believe, a key reason why leadership across the legal profession remains male-dominated.

Recommendations

1. People: Start from the top

Hold senior leadership accountable for workplace experience

Toxic leaders should not be rewarded and their behaviour should be addressed

A holistic approach with both meaningful gender targets and enablers to better attract, retain and promote females

2. System: A multidisciplinary approach

Improving HR systems and talent management practices with a diversity, equity and inclusion (DEI) lens

Impactful DEI trainings instead of tick-the-box exercises

Billable system of including work on DEI to be recognised and rewarded to incentivise DEI involvement

Have systems in place to intervene when noninclusive behaviours happen

To download the full report, sign up at Everyday Behaviour Project - Understanding Everyday Behaviour & Gender Equality Issues in Hong Kong's Legal Sector | Perspectives & Events | Mayer Brown

About Mayer Brown

Mayer Brown is uniquely positioned to advise the world’s leading companies and financial institutions on their most complex deals and disputes With extensive reach across four continents, we are the only integrated law firm in the world with approximately 200 lawyers in each of the world’s three largest financial centers – New York, London and Hong Kong – the backbone of the global economy We have deep experience in high-stakes litigation and complex transactions across industry sectors, including our signature strength, the global financial services industry Our diverse teams of lawyers are recognised by our clients as strategic partners with deep commercial instincts and a commitment to creatively anticipating their needs and delivering excellence in everything we do Our “one-firm” culture –seamless and integrated across all practices and regions –ensures that our clients receive the best of our knowledge and experience.

About Women in Law Hong Kong

Women in Law Hong Kong (WILHK)is a non-profit society providing private practice lawyers, in house counsel and all other industry professionals a solutions-based approach to gender equity WILHK is supported by many of Hong Kong’s leading firms and institutions and is one of the largest legal networks in Hong Kong With over 1,500 members representing all genders, WILHK encourages a diverse exchange of ideas and collaboration.

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Attention British Nationals

There is a once in a lifetime chance to increase your annual UK state pension income significantly by making voluntary national insurance contributions above the normal allowed level. Usually, if you have a gap in your record, such as from working overseas, you are only allowed to backdate contributions for the past 6 years.

However the UK government are currently allowing people to catch up missed contributions from the years 2006 -2016 as well as the last 6 years

You only have until April 5th 2023 to do this before the window is closed to contribute for the period 2006 – 2016.

As a British national living overseas and working, you may also benefit from being able to pay less for missed years compared to if you lived in the UK

To check how much you may be able to increase your state pension by, follow these steps.

1. Log in to your UK Government Gateway ID Account. If you have never registered for one, you can do so here: https://www.access.service.gov.uk/registration/email?aoc=Y

2 Check your national insurance record for gaps: https://www gov uk/check-national-insurance-record

3 Check your eligibility If you are a man born after 5th April 1951, or a woman born after 5th April 1953, you can qualify to contribute for the period 2006-2016 and meet the other eligibility criteria for people living and working overseas See point 4

4 For people living in Hong Kong, you need to check if you will need to pay class 2 voluntary contributions or class 3 voluntary contributions:

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- Class 2 (living overseas and working): You worked in the UK immediately before leaving, and you’ve previously lived in the UK for at least 3 years in a row or paid at least 3 years of contributions.

- Class 3 (living overseas but not working): You’ve lived in the UK for at least 3 years in a row or paid at least 3 years of contributions.

5. - Class 2 voluntary contributions will cost a one off GBP163.80 per missing year to increase your state pension income by GBP275.08 per year.

- Class 3 voluntary contributions will cost a one off GBP824.20 per missing year to increase your state pension income by GBP275.08 per year.

6 If you have not already registered to pay national insurance from abroad you need to fill out the following CF83 form: https://assets publishing service gov uk/government/uploads/system/uplo

ads/attachment data/file/1102905/CF83 pdf

7 Once you registration is acknowledged you can pay via online banking, telephone or cheque

If you require any assistance or have any queries about the topic please get in touch with Sam Harley of Pyrmont Wealth on +852-6645-4462 or samharley@pyrmontwm.com

**Example For illustration purposes only. Based on an eligible individual having no national insurance contributions for the last 6 years and no contributions for the period 2006-2016.

Not to be considered personal financial advice. The number of years of voluntary contributions you are eligible to make depends on your individual situation.

About Pyrmont Wealth Management

Pyrmont Wealth Management is a leading team of forward-thinking individuals who believe in providing quality Life Centred Wealth Management advice delivered via our LifePlan process

As a fully regulated firm in Hong Kong, Pyrmont Wealth Management

Limited both SFC Type 4 and 9 licenses as well as an insurance license from the Hong Kong Insurance Authority

Whilst we are a Hong Kong based firm, we take a global view and in addition to local clients we actively support clients across the UK, mainland Europe, The Middle East, Asia and Australia

Importantly, our transparent fee-based approach means that we are always aligned with your best interests

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Sam Harley Financial Planner

Introduction

The rapid development in technology has led to an increasing number of cyberattacks and cybercrimes in recent years, resulting in significant challenges to the cybersecurity of critical information infrastructures (“CIIs”).

Currently, Hong Kong does not have specific legislation on cybercrime or cybersecurity However, this position is expected to change soon, with the announcement of the proposal to enact a new cybersecurity law during the Chief Executive’s 2021 Policy Address (“2021 Policy Address”) and the issuance of a consultation paper on “Cyber-dependent crimes and jurisdictional issues” (“Consultation Paper”) by the Hong Kong Law Reform Commission (“HKLRC”)

Key takeaways

The HKSAR government’s proposal to enact new cybersecurity legislation, and the Consultation Paper’s five new proposed cybercrime offences (“New Cybercrime Offences”), stem from Hong Kong’s duty under Article 9 of the National Security Law to take necessary measures to strengthen regulation over

matters concerning national security (including the internet), and the potential criminal exploitation of information technology, computer and computer data The proposed cybersecurity legislation is expected to introduce new cybersecurity compliance requirements on CIIs, in light of the increasingly important role cybersecurity and data security play in upholding national security.

The introduction of the New Cybercrime Offences will provide the law enforcement agencies with enhanced tools to pursue perpetrators A key takeaway is the possible extra-territorial application of the New Cybercrime Offences where there is a nexus to Hong Kong (e g , where the victim is from Hong Kong or where damages are incurred in Hong Kong).

Cybersecurity

The HKSAR government announced in its 2021 Policy Address that it is preparing for the enactment of cybersecurity legislation in Hong Kong to clearly define the cybersecurity responsibilities of CII operators and strengthen the protection of the operation and data of Hong Kong’s network systems and CII systems Examples of CIIs include water, electricity, coal supply, communication networks,

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transport services and financial institutions

Cybercrime

Five proposed cybercrime offences

Establishing a preventive management regime for critical infrastructures

Devising a cybersecurity plan.

Regularly conducting security assessments.

Putting in place a comprehensive incident response plan.

Conducting frequent drills

Resilience

The details of the legislative proposal are not yet available. In terms of the overall legislative framework, the government has indicated that in preparing for the impending cybersecurity legislation, it will refer to relevant legislation around the world and will focus on seven areas: 1 2. 3. 4. 5 6 7

Prompt notification mechanism

These broad areas will likely translate into compliance obligations for CII operators under the cybersecurity legislation.

The local cybersecurity legislation may potentially take on the concept of “critical information infrastructure operators” adopted by the PRC’s national Cybersecurity Law, who are subject to heightened security measures such as undergoing national security review when purchasing network products and services that may impact national security, and storing personal information and critical data within the territory. If the proposed Hong Kong cybersecurity legislation does mirror the PRC Cybersecurity Law, CII operators will be subject to an additional set of legal requirements, such as the creation, improvement and maintenance of internal cybersecurity systems; selfassessment regarding the sensitivity of data collected; and formal application for data transfers. CII operators may need to undertake a significant exercise to ensure compliance with the new legislation.

On 20 July 2022, the HKLRC released the Consultation Paper proposing the New Cybercrime Offences, aiming to deter cybercrimes with tougher penalties. The Consultation Paper focuses on cyberdependent crimes (i.e., crimes that can be committed only through the use of information and communications technology devices, where the devices are both the tool for committing the crime and the target of the crime) The Consultation Paper conducts a comprehensive comparison of the cybercrime laws in seven other jurisdictions: Australia, Canada, England and Wales, Mainland China, New Zealand, Singapore and the USA. The New Cybercrime Offences are derived mainly from existing legislation and aim to update the laws and plug any loopholes

Currently, Hong Kong does not have any specific cybercrime offence. Related offences are scattered over various ordinances, including the following:

s. 25 (a) Telecommunications Ordinance: Any person (not being a telecommunications officer, or a person who, though not a telecommunications officer, has official duties in connection with a telecommunications service) who wilfully secretes, detains or delays a message intended for delivery to some other person.

s. 27 Telecommunications Ordinance: Damaging, removing or interfering with a telecommunications installation with intent to: (a) prevent or obstruct the transmission or delivery of a message; or (b) intercept or discover the contents of a message (this does not include metadata)

s 27A Telecommunications Ordinance: Gaining unauthorised access to a computer by means of telecommunication.

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ss. 59 and 60 Crimes Ordinance: Destroying or damaging property, or intending to destroy or damage property, without lawful excuse, including misusing any computer program or data held in a computer

s 161 Crimes Ordinance: Gaining unauthorised access to a computer with: (i) intent to commit an offence; (ii) dishonest intent to deceive; (iii) a view to dishonest gain for himself or another; or (iv) a dishonest intent to cause loss to another.

The New Cybercrime Offences are as follows:

Illegal access to program or data

Illegal interception of computer data

Illegal interference of computer data

Illegal interference of computer system

Making available or possessing a device or data for committing a crime.

The New Cybercrime Offences, except for illegal interception of computer data, come in an aggravated form if further criminal activities or a high degree of severity is involved

Other recommendations by the HKLRC include:

Possible extra-territorial application of the proposed offences - The HKLRC recommends that Hong Kong courts should have jurisdiction so long as the crime in question has a local connection, including where: (i) the act or omission occurs in Hong Kong; (ii) the victim is a Hong Kong permanent resident, ordinarily resides in Hong Kong, or is a company carrying on business in Hong Kong; (iii) the target program or data is in Hong Kong; or (iv) the perpetrator’s act has caused or may cause serious damage to Hong Kong (e.g., its infrastructure) or has threatened or may threaten the security of Hong Kong. For the summary offence of illegal access to programs or data, the HKLRC is of the view that the Hong Kong courts should only have jurisdiction where the act

constitutes a crime in the jurisdiction where it was performed.

Extending the limitation period - The HKLRC is of the view that the current limitation period under s 26 of the Magistrates Ordinance (i e , six months) is too short in relation to summary proceedings for the New Cybercrime Offences. It recommends that this be extended to two years from the discovery of any act or omission or other events, the proof of which is required for conviction of the offence

Increasing maximum sentences - The maximum sentence under most of the New Cybercrime Offences is 14 years’ imprisonment, as opposed to the range of two to 10 years for existing offences. Offences of a less serious nature may be dealt with summarily with a jail term of two years or less. However, for the offences of illegal interference of computer data and illegal interference of a computer system, where the act is so grave that it endangers the lives of others, a sentence of life imprisonment may be imposed

The HKLRC also requested submissions to a series of questions relating to whether there should be defences and exemptions to the proposed New Cybercrime Offences and the appropriate scope of such exemptions. The consultation closed on 19 October 2022

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Illustration: CEO fraud and ransomware

The New Cybercrime Offences will provide effective tools for combatting prevalent cybercrimes, the most common examples being CEO fraud and ransomware attacks.

CEO fraud is a sophisticated email scam where the attacker sends out phishing/spoofing emails impersonating a company’s CEO or senior executive to trick employees into transferring money or providing confidential company information In a typical CEO fraud scam, the scammer would usually get a good working understanding of the company’s hierarchy and its money, trade and logistical movement patterns. The scammer would then gain access to the CEO’s or the executive’s email account, send emails to employees requesting money, and then slip into the payment flow to intercept payments Under the New Cybercrime Offences, such a scam would constitute offences of illegal access to programs or data, illegal interception of computer data, and illegal interference of computer data.

Ransomware is a form of malware designed to deny an organisation access to their files by encrypting such files and demanding a ransom payment to regain access Under the New Cybercrime Offences, ransomware would be considered an offence of making available or possessing a device or data for committing a crime.

Next steps

With the close of responses to the Consultation Paper, we are expecting further updates and guidance around cybersecurity and cybercrime legislation later this year. Companies, especially CII operators, should watch this space for updates to the proposed regimes.

About Baker McKenzie

Complex business challenges require an integrated response across different markets, sectors and areas of law. Baker McKenzie's client solutions provide seamless advice, underpinned by deep practice and sector expertise, as well as first-rate local market knowledge. Across more than 70 offices globally, Baker McKenzie works alongside our clients to deliver solutions for a connected world.

Gary Seib Partner, Hong Kong Marcia Lee Special Counsel, Hong Kong
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Gillian Lam Senior Associate, Hong Kong

Late last year, Matthew Curtis returned to our city to play a key role in the growth of the Hong Kong operation of The Fry Group, the award-winning firm of tax and financial advisers As the pace of Hong Kong picks up, Matt explains some of the key financial issues facing British expats here, and some of the ways in which The Fry Group is best placed to help

What’s the history of The Fry Group in Hong Kong?

The Fry Group’s presence here stretches back over 60 years During the 1960s our UK team would regularly travel to the Far East to meet with clients – six-week tours were the norm in those early days! But at the turn of the century the decision was taken to create a permanent presence here with an office opening in 2001 Then, just as is the case today, the office was fully supported by the wider team based in the UK Today, The Fry Group has a very strong reputation in the region, with hundreds of clients being supported by our team based in the Lippo Centre.

How did you find yourself returning to Hong Kong?

I’ve always worked in finance, first for HSBC and then for a firm of accountants in the UK as a paraplanner This gave me a good grounding before I became a Chartered Financial Planner and took on the responsibility of looking after people’s money. When family circumstances triggered a move to Hong Kong,

I knew I wanted to work for a professional firm with an excellent reputation and approached The Fry Group directly I joined in 2012 and spent six years here before moving to the UK to gain more experience in our London office The chance to return to Hong Kong was a perfect opportunity. It’s fantastic to be back!

How does the landscape look for expats living in Hong Kong?

Hong Kong is a very special place for British expats

We’re all aware that the region has taken a bit of a hit image wise in the past few years, but the lifestyle and opportunities here remain very appealing, and it’s a unique place to live, still offering that connection between East and West. There’s a highly professional infrastructure and longstanding business ecosystem in place. For expats living here the combination of high salaries and low taxes is definitely something to take advantage of. Having said that many expats have very busy lives, and trying to focus on their own finances might be a hard job to squeee in. We work with lots of clients who enjoy the fact that we offer an integrated, all-in-one financial service – so they can get on with enjoying all Hong Kong has to offer

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What are some of the key financial issues which expats need to think about?

Usually, many British expats have similar concerns –ensuring they have enough wealth to enjoy the lifestyle which matters to them. We see our role as helping people achieve financial freedom, and our Freedom service helps enable this – we can help with tax planning, investments and all aspects of estate planning including Wills and Trusts. It’s important for expats to maximise the low tax environment which Hong Kong offers, and plan ahead for when they may not be in the same position – perhaps if there’s a plan to return to the UK in the future There are some issues which are impacting globally too - notably high inflation - so we’re working with many clients on how to preserve the wealth they’ve worked hard to build Lots of families are also concerned about putting the right plans in place to look after their family, and the concept of generational wealth – or passing down assets to children and grandchildren in the most optimal way - is becoming higher on the list of priorities for people too.

How do you see the picture in Hong Kong for British expats?

As the pandemic really started to take hold we saw a large number of enquiries from individuals and clients returning to the UK. It was a busy couple of years, with lots of people reassessing their plans and wanting to be back ‘home’ and near family. But in the past few months the tide has turned a bit, and we’re seeing a fair number of people coming back. Of course these significant life changes all have a financial impact, and our team’s expertise together with many of us having first-hand experience of heading in and out of the UK tax system, and understanding the investment and pensions options available, really helps

This article has been produced with the aim to provide information. However, this is not intended to form professional advice nor should it be relied upon as such and before taking any particular action, specic and personal advice should be obtained. All levels and basis of, and relief from taxation illustrated here are subject to change. The Fry Group (H.K.) Limited is licensed to conduct investment advisory and asset management in Hong Kong by the Securities & Futures Commission (SFC; CE Number: ATY965) and is licensed as an insurance broker by the Insurance Authority (IA; Licence Number: FB1207).

What’s your focus for the coming months?

We’re really looking forward to continuing to build The Fry Group’s relationships here in Hong Kong, and to work in the local community to support British expats, and others. Recently we’ve also been able to develop a strong partnership with Enrich, a charity helping educate and empower migrant domestic workers in Hong Kong to enable them to save, plan and budget for their future. We’re committed to making a positive impact in the communities we work in and are focusing on financial literacy as part of this CSR work. It’s great for our team to get involved in and help share their extensive knowledge and skill set to benefit the local community With restrictions hopefully now a thing of the past we’re getting back to our face-to-face events programme too It’s great to be spending time updating clients on key financial issues, and in a much more social setting!

The Fry Group offers a really safe pair of hands to British expats – we’ve been here a long time, and our team are familiar faces in the community, so we’re focused on preserving that strong reputation we’ve taken time to build up over the years. And we hope to be able to help people across the wider region too –into new areas of Asia and beyond.

About The Fry Group

The Fry Group are tax, estate and financial planning experts. Established in 1898 with offices throughout the UK, and in Belgium, Hong Kong, Dubai and Singapore, they specialise in helping British people throughout the world in all aspects of their financial planning and have been proud sponsors of The British Club for more than 10 years

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THIS APRIL, BRITCHAM SUPPORTS: EARTH MONTH

TRAVEL 2.0: WE’VE RETURNED TO THE SKIES…NOW WHAT?

As we journey through 2023, Asia has much reason to cheer as normality has finally (mostly) returned to the region

2023 was greeted with China re-opening its borders, following from several countries in the region easing their stringent travel restrictions to welcome visitors once again Travellers too, are returning to the skies and have informed that they would rather cut back on non-essential retail purchases or forego their content streaming subscriptions and gym memberships to fund their travels.

While the travel industry is greeted with sentiments of positive recovery, there is, however, a small catch

Fuelled by the pandemic and the digital acceleration that came along with it, there has been a dramatic shift tin travellers’ expectations. The modern-day

traveller seeks out experiences that not only make their journeys more convenient and comfortable, but also motivates them to come back for more

What Makes Travel 2.0 Different from its Predecessor?

The pandemic stands as a pivotal moment in time that has altered the trajectory of travel

It has made us appreciate how easy it was to travel at a time when logistical hassles such as mask, quarantine and testing mandates did not exist But equally, it has triggered a global economic fallout that has resulted in significantly higher costs of living and, consequently, skyrocketing costs of travel.

Whilst there is ample evidence to suggest that only a small section of people is deterred by this and cautious to travel today, the rest (who are rejoicing the return to

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the skies) have changed the way they choose to travel.

Having been exposed to different facets of travel over the past few years, travellers in Asia Pacific are applying heightened value to certain travel benefits that were previously thought of as add-ons. Take airport lounges, for example – an experience that was once considered a luxury, has transformed into an expectation. Additionally, travellers are more willing to pay for luxury or more convenient travel experiences, such as upgraded seats and direct flights

Raising Customer Engagement Through Heightened Travel Experiences

This tells us that travel today is no longer about going from point A to point B Travellers are looking to be engaged differently; they expect more from their journeys and also from those who facilitate these journeys for them.

Beyond considerations of brand and sector, consumers are seeking sophisticated, statusenhancing, value-adding experiences personalised to them They expect brands to deliver integrated experiences that add value to their lives – above and

Travel loyalty benefits offered by brands in the form of rational rewards, cashback, travel miles and points, continue to retain their appeal amongst a certain segment of travellers However, they are limited in their ability to foster meaningful connections with consumers in a way that can help evoke a strong sense of brand loyalty. To build customer engagement and nurture lifelong loyalty, rational rewards must be balanced with emotional connections as this enables consumers to feel special and valued.

Data Sharing and Partnerships are Key to Creating a Seamless Traveller Experience

To make the travel experience more meaningful, brands within the travel ecosystem are increasing their investments in the digital experience However, in comparison to their retail sector peers, for instance (a notoriously innovative and customer-centric sector), brands in the travel industry are falling behind.

A study by Collinson suggests that nearly 93% of consumers are eager and open to building closer, emotional bonds with their favourite brands. An additional report also indicated that 61% of consumers are comfortable with companies using their relevant

Photo by Ross Parmly on Unsplash

Our recent research showed that only 38% of brands across Australia, Hong Kong and Singapore are planning to invest in customer experience; 31% in data management; and 61% in technology infrastructure

With travel becoming increasingly connected, it is now critical for brands in the ecosystem to work collaboratively with each other to drive seamless, integrated consumer experiences. Airports, for one, are investing in creating an interconnected traveller experience, driven by technology and data, to enable a frictionless experience

Priority Pass, a market-leading airport experiences programme owned and operated by Collinson, for instance, provides end-to-end journey support – over and above airport lounge access – to its members. Members have the option to pre-book essential travel services, such as ground transportation, before arriving at the airport Not only does this help make each airport journey seamless, pleasurable and stressfree, it also benefits other brands in the travel ecosystem by connecting them to the traveller and enabling them to maximise their revenue streams.

Futureproofing – Welcome to the Era of Collaboration

For the industry to be in a better position to meet the evolving needs of modern travellers, brands will need to come together to form an ecosystem where together, it identifies mutual customers and shares anonymised data This ultimately will enable brands to curate and deliver more unique, timely and relevant experiences for their consumers

As travel continues to pick up momentum, we’ll need to welcome an era of collaboration. One where we forge strong partnerships to deliver personalised experiences that consumers expect and unlock data and insights to accurately understand their everevolving preferences; continuously adding value over and beyond the day of travel

About Collinson

Collinson is the global, privately-owned company dedicated to helping the world travel with ease and confidence

Working with over 1,400 banks, 90 airlines and 20 hotel groups worldwide, Collinson delivers market-leading airport experiences, loyalty and customer engagement, and insurance solutions for over 400 million end consumers

Collinson is the operator of Priority Pass, the world’s original and leading airport experiences programme

About Todd Handcock, President, Asia Pacific, Collinson

Todd has over 25 years of experience in the region, with leadership roles across sales, marketing and operations. He has supported clients in diverse industries including banking, insurance, consumer, retail, travel and hospitality, and has a deep understanding and appreciation for the complex challenges faced by businesses in today’s rapidly evolving landscape.

Prior to joining Collinson, Todd was President Europe, Middle East and Asia Pacific for Kognitiv Corporation and before that held senior leadership roles with Williams Lea Tag and BT Global Services Todd is a Global Board Member at Collinson; he is also a Past Chairman and Current Head of the Governor’s Council of the Canadian Chamber of Commerce in Hong Kong

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Todd Handcock President, Asia Pacific, Collinson

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