Hong Kong is an international financial centre, having established legal system, simplified taxation system, low tax rate as well as offering unlimited business opportunities, and serving as a platform to global economy and commerce. Therefore, many of international businesses benefit from the establishing companies in Hong Kong.
We will evaluate the business model and assist to set up a company of appropriate type.
Advantages of setting up a company in Hong Kong
- Simplified taxation system and low taxation rate
- Corporate profits tax tax rate applied is only 16.5%
- Sole-proprietorship / Partnership profit tax rate applied is only 15%
- Absence of foreign exchange controls
- funds can be circulated freely; foreign currencies can be exchanged and transferred as needed, and credit operations can be handled conveniently and quickly
- Sound legal system
Registration form and time to take
- E-filing incorporation (requires 1 day)
- Purchasing a shelf company (requires 2 days)
Our services including:
- Doing company search in HK government, checking whether new company name can be used by client
- Applying Certificate of Incorporation
- Applying Business Registration
- Printing 20 copies of Articles of Association
- Printing share certificate book in 20 pages
- Printing company registers
- Making a signing chop, a round chop and mental seal
- Submission of company secretary documents to HK government
- Certified true copies of documents for bank account opening by CPAs and make appointment for bank account opening
Having a vast territory and well-developed manufacturing industry, in recent years China has continuously opened finance, service and trade industries, and significantly reduced the investment entry requirements of foreign enterprises in order to attract more foreign investments. At present, while no need to make paid-in registration capitals and provide bank credit certificates, foreign enterprises only have to set up filing in the regulatory authorities for easy registration.
Industries with Investment Incentives
Foreign investments are encouraged in industries ranging from manufacturing, wholesale and retail, leasing and commercial service, scientific research and technical service, agriculture, forestry, animal husbandry and fisheries, hydro-environment and public utility management, service organisations for the handicapped, elders and children, certain culture and sports, to entertainment.
Industrial and Commercial Annual Report
Foreign invested enterprise shall undergo an industrial and commercial annual report from 1 January to 30 June every year from the following year after the incorporation.
Joint Annual Report
Foreign invested enterprises shall undergo a joint annual report generally from 1 January to 30 June every year from the following year after the incorporation (the specific time is subject to the announcement by Ministry of Commerce).
Direct Investment-related Registration of Stock Rights and Interests
Foreign invested enterprises shall undergo a direct investment-related registration of stock rights and interests generally from 1 January to 30 September every year from the following year after the incorporation.
An employment labour contract must be signed for recruitment in China, and the rights and obligations of both parties shall be stipulated therein. The enterprise shall sign an employment contract with the employee within one month from the start of his/her employment. Labour contracts are classified into employment contracts with a fixed period, labour contracts without a fixed period and employment contracts with a period to complete the prescribed work.
Social Security Insurance and Housing Provident Fund
In order to secure social welfare, enterprises set up in China have to pay certain amount of social insurances and housing provident funds for their employees each month, which are usually calculated in percentage of employees’ monthly salaries and together borne by the enterprises and the employees. In view of different living standards among cities, the accrual proportions in calculation vary from one city to another.
Our service include:
- Foreign Investment Manufacturing Enterprise
- Foreign Investment Trading Enterprise
- Foreign Representative Office
- Foreign Investment Consulting Enterprise
- Registering Foreign-invested Enterprises in Pilot Free Trade Zones
- CEPA Foreign Invested Enterprise
Some countries and regions (such as BVI, Samoa and Cayman etc.) have formulated some especially loose tax systems to attract worldwide investors coming to those countries for company incorporation. This kind of company is generally NOT subject to any tax, except an annual license fee. Therefore, it is usually the best choice for most of the multi-national enterprises to carry out structural arrangement.
An offshore company is different from a general limited company mainly with regard to tax revenue; that is, revenue from an offshore company is not subject to any tax payment, nor to any tax declaration, and the shareholders' information, shareholding percentage and revenue status are entitled to high confidentiality.
Advantages of Offshore Company
- No tax declaration or collection
- Provide high privacy protection, without disclosing the identity of shareholders and directors
- No submission of annual return, audit report and financial statement required
- No registered capital required
Our services including:
- Consultation for Other Business Solutions
- Consultation for Accounting, Auditing and Taxation Planning
- Certificate of Incorporation
- 4 Copies of Memorandum & Association
- First Director Minute
- Approval as First Director(s)
- Share Certificates
- Share Transfer Documents (if any)
- Common Seal
- Company Chop
- Statutory Book
- Premium Box Set
Purpose of offshore company
- Tax planning
- Acting as a holding company
- International trade
- Investment overseas
- Offshore listing
Accounting is a kind of economic management activity using currency as the major calculating unit, it checks, calculates and monitors the enterprise’s economic activities in a specialised way. Through procedures such as bookkeeping, calculating and reporting, accounting can comprehensively reflect the financial status and operational results of your enterprises.Professional agency bookkeeping service not only saves costs but also ensures compliance with accounting standards. In addition, such service also helps improve business management and profitability through professional analysis and suggestions made based on relevant information.
Common problems for most business:
- Finding your accounting costs too high for a small business?
- Feel that ensuring regulatory compliance is a time-consuming and laborious task?
- Expect to find a reliable bookkeeping company and professional advisers to help a foreign investor?
- Require a flexible accounting service tailored to suit your company's needs?
- Think a temporary substitute for an employee needs extra resources and adds to your personnel expenses?
- Want to outsource part of your company's bookkeeping duties?
Purpose of Accounting
To provide the accounting messages, such as enterprise’s financial status, operational result and cash flow, etc., to users of financial report, in order to reflect the execution situation of fiduciary responsibility of enterprises management staff and help the users of financial report to make economic decision.
Our Services Include:
- Bookkeeping Service
- Establishment of Accounting Policy
- Compilation of Financial Statements
- Inventory Management
- Cost Control
- Establishment of Internal Accounting Checking System
Under the Companies Ordinance (Cap. 622) of the Laws of Hong Kong, a limited company incorporated in Hong Kong must appoint a company secretary to perform the legal liability of the company.
Company Secretary duties include:
- Declaration of relevant organisation structure, changes of shareholders and directors to the Companies Registry
- Contemplation of the agenda of company meetings for Board of Directors, preparation of annual general meetings of shareholders
- Provision of professional advisory service and advice on relevant statutory ordinances.
Our Services Include:
- Preparing and keeping statutory records, such as register of shareholders and register of directors, etc.
- Arranging and attending meetings of directors and shareholders, and preparing minutes of meetings
- Preparing and submitting statutory documents, including annual return form
- Preparing and submitting application for business registration certificate
- Assisting in opening bank account
- Assisting in applying for Hong Kong work visa
- Deregistering the company and suspending applications for activities
- Providing relevant advice on company liquidation and bankruptcy
Hong Kong adopts "Territorial Source Principle", all persons or companies carry business in Hong Kong are liable to pay the tax in Hong Kong. (whether the person or company is incorporated in Hong Kong or not)
Hong Kong major tax divided into 4 categories:
- Profit tax
- Salaries tax
- Property tax
- Stamp duty
Hong Kong does NOT have:
- Sales tax
- Value added tax (“VAT”)
- Dividend tax
- Capital gain tax
The person in charge of the business shall submit a tax return to the Inland Revenue Department every year. The tax return of the limited company or partnership is generally posted in April of each year and the salaries tax return is usually posted in May of each year from Inland Revenue Department.
Our services including:
- Providing tax advisory and tax planning (To minimize tax liabilities in a legitimate way)
- Acting as Tax Representative (Individual or Companies)
- Filling the tax return, tax computation and declare
- Profit tax
- Salaries tax
- Property tax
- Employer's Return of Remuneration and Pensions
- Applying for the extension of submission of tax return
- Applying for holdover of provisional tax
- Assisting for objection of tax assessment
- Assisting for handling the tax queries from IRD
- Assisting for applying the offshore income claims exemption
- Conducting tax field audit and investigation
Good audits add value beyond the formal financial statements.
Independent financial statement audits enhance the reliability of the information provided by companies to investors, creditors and other stakeholders in accordance with statutory requirements.
In the market place, credible financial statement audits reinforce investor confidence. Within organisations, they add to board and management understanding of the business and the risks it faces.
How we can help?
We provides independent audit services that will help to enhance the reliability and credibility of the financial reporting undertaken by client organisations.
- Our skilled and experienced audit professionals work with clients and relevant external parties to understand the changing business environment.
- We seek to get the basics right and to add value beyond the financial statements through the business insights we bring to each engagement.
- We adopt an audit approach that is based on a proven methodology and reinforced by our commitment to professional integrity, independence and ethical behaviour.
- We equip our audit teams with advanced technology to provide a structured, risk-focused workflow.
- We focus on clients’ key business risks.
- We support the audit process with extensive experience of applying and interpreting accounting standards.
- We identify industry trends, issues and insights that may influence the accuracy and completeness of financial statements.
We offer high-level technical capabilities, a client focused culture and access to a global network of respected audit professionals. Our advice is clear, concise and relevant.
Apart from market development and daily operation, enterprises also have to handle cumbersome business and administrative matters during the process of operation. In order to assist the enterprises to focus on their business development, we provides diversified business centre services according to their needs.
In accordance with the section of Companies Ordinance of the Laws of Hong Kong, limited companies need to have a registered office in Hong Kong for maintaining statutory records of the company and receipt of acknowledging government's correspondence.
We provide registered address service especially for entrepreneurs who set up their companies in Hong Kong without an office. Use our address for registration and communication, enterprises are not only able to comply with the requirement of "registered address" under the Companies Ordinance, but also facilitate their corporate operation and help promote their identity and reduce the costs.
Our Services Include:
- A registered address of the company to be filed with relevant Hong Kong government departments
- Printed on letterheads and business cards
- Collect government and bank letters on behalf of the company
- Display on electronic signboard (normal board)
As an international financial centre and with a free economic system, low tax rate and comprehensive infrastructure and supporting trade services, Hong Kong attracts investors from all around the world. While enhancing its international reputation, Hong Kong’s industries such as service, financial, textile, electronic, jewellery, logistic, gift and premium, and toys are well known around the world. Lots of investors have registered their trademarks in Hong Kong in order to protect their brands and enhance their competiveness.
Trademark Registration, as a means of brand protection, is taken seriously by investors in various countries. Brand protection is a kind of region specific protection and different countries have their own requirements for trademark registration. We provides trademark application and registration services in China and around the world, and deals with various issues for our clients during the course of the complex International, Hong Kong and China trademark application process.
What is a Trademark?
A trademark is a sign that distinguishes the goods and services of one trader from those of others. Typically, a trademark can be words (including personal names), indications, designs, letters, characters, numerals, figurative elements, colours, sounds, smells, the shape of the goods or their packaging or any combination of these. A sign must be capable of being represented graphically in order for it to be registered as a trademark.
Nice Classification, an internationally accepted classification, issued by the World Intellectual Property Organisation classifies the goods and services into 45 classes, specifying classes 1-34 for goods and classes 35-45 for services.
- Goods items (Class no. 1-34)
- Services category (Class no. 35-45)
The Right of Priority on Hong Kong Trademark Registration
An applicant may enjoy the right of priority on trademark registration in Hong Kong if he/she has filed an application for trademark registration for the same goods or service with a state party to Paris Convention or a WTO member state within six months before filing such application in Hong Kong.
Matters to be Considered before Filing an Application
- Whether the trademark distinguishes the applicant’s goods or services from other traders
- Whether the trademark shows the distinctiveness of the goods and services
- Whether the trademark is a generic term in that industry
- Whether the trademark is identical or similar to other trademarks
Required Information and Documents
- Corporation Applicant: Business Registration Certificate / Certificate of Incorporation
- Individual Applicant: Identity documents and address proof
- Application form
- Trademark image