Company Formation

There are two main forms of companies established under Hong Kong law:

Advantage:

• Limited liabilities (but directors are criminally liable)
• Easy to raise funds (company transparency is higher than unlimited companies)
• Easy to change hands (unlimited companies have no shareholding system)

Disadvantage:

• Higher cost (annual secretarial/auditing fees)
• An annual return must be submitted to the Companies Registry every year
• An auditor must be hired to issue an audit report every year

Advantage:

• Lower cost
• No need to submit annual return to Companies Registry
• You only need to file profits tax every year, no audit is required

Disadvantage:

• Unlimited debt (causing personal bankruptcy)
• More difficult to raise money (unlimited companies have less transparency)
• More difficult to change hands (unlimited companies have no shareholding system)

Accounting and Taxation

One-time management account (share transfer, bank loan application, company property purchase and sale)

Monthly/quarterly management accounts (help monitor company finances, control costs/attract investors)

Complete IR56M and IR56B to fulfill employer obligations

According to the "Company Ordinance", the annual general meeting of shareholders is held every year (with an interval of less than 15 months). The company law also requires that the audited financial statements and meeting notice be sent to shareholders 21 days before the annual general meeting, pending approval by shareholders of the general meeting. Vote on Finance to approve the report

- Limited Company / Unlimited Company Profits Tax
- Employer Salary Statement
- Personal Property Tax / Salary Tax
- Sole Proprietorship Tax Return

Shared Office

Virtual offices do not occupy public space, greatly reducing operating costs. Customers can also increase or decrease service content according to actual needs.

Company Secretarial and Other Services

The company secretary is a statutory position for a Hong Kong limited company. His responsibilities include organizing annual general meetings and reporting changes to shareholders and company structure to the Companies Registry.