# UBS gives Hong Kong staff COVID quarantine cash -memo
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-12-06
Category: BANKING
Category URL: https://financedigest.com/category/banking
Meta Title: UBS Group offers $256.45 daily to cover Hong Kong quarantine costs
Meta Description: UBS Group AG offers its Hong Kong employees up to HK$2000 a day to cover mandatory hotel quarantine costs amid strict COVID restrictions in the city. Find out
URL: https://financedigest.com/ubs-gives-hong-kong-staff-covid-quarantine-cash-memohtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2021-12-06t082602z1lynxmpehb508rrtroptp4ubs-group-pay-1736836712083-compressed.jpg)

HONG KONG (Reuters) – UBS Group AG has offered its Hong Kong staff up to HK$2000 ($256.45) a day to help cover mandatory hotel quarantine costs as the city maintains some of the strictest COVID restrictions in the world.

In a memo seen by Reuters, the bank said full-time employees up to executive director level would be eligible for the payments between now and the end of November 2022.

A UBS spokesperson in Hong Kong confirmed the contents of the memo.

[Hong Kong](https://www.financedigest.com/hong-kong-finance-official-to-make-first-visit-to-britain-in-three-years.html "Hong Kong finance official to make first visit to Britain in three years") requires 21-day compulsory hotel quarantine for arrivals from most countries which is paid for by the traveller.

The city last week banned https://www.reuters.com/world/china/hong-kong-bans-non-resident-arrivals-13-more-countries-due-omicron-2021-11-30 non-residents from entering [Hong Kong](https://www.financedigest.com/citadel-accelerates-hiring-push-in-hong-kong-and-london.html "Citadel accelerates hiring push in Hong Kong and London") from a further four African countries and will expand that to travellers who have been to Australia, Canada, Israel and six European countries in the past 21 days due to fears over the Omicron coronavirus variant.

[Hong Kong](https://www.financedigest.com/screening-of-winnie-the-pooh-horror-film-cancelled-in-hong-kong.html "Screening of ‘Winnie the Pooh’ horror film cancelled in Hong Kong") is one of the final places in the world pursuing a zero-COVID strategy and has some of the tightest travel restrictions.

In coming months it hopes to partially [reopen the border with mainland China](https://www.financedigest.com/asian-shares-muted-as-investors-fret-over-china-reopening.html "Asian shares muted as investors fret over China reopening"), which also has no tolerance for coronavirus cases.

The [strategy is a growing](https://www.financedigest.com/4-strategies-for-quickly-growing-your-startup.html "4 Strategies for Quickly Growing Your Startup") headache for major employers such as banks as they try to retain staff in Hong Kong.

JPMorgan is [granting some staff a one-off payment](https://www.financedigest.com/token-granted-fca-authorisation-for-open-banking-payment-information-services.html "Token Granted FCA Authorisation for Open Banking Payment & Information Services") of up to $5,000 to cover their quarantine costs.

($1 = 7.7988 [Hong Kong](https://www.financedigest.com/hong-kong-home-prices-drop-15-6-in-2022-snap-13-years-of-gain.html "Hong Kong home prices drop 15.6% in 2022, snap 13 years of gain") dollars)

(Reporting by Scott Murdoch in [Hong Kong; editing by Jason Neely)](https://www.financedigest.com/evergrande-winding-up-lawsuit-in-hong-kong-adjourned-to-nov-7.html "Evergrande winding-up lawsuit in Hong Kong adjourned to Nov 7")


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---