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Compared to a lot of other jurisdictions, terminating or retrenching employees in Hong Kong is not such a complex matter. However, you will need to abide by the requirements set in place. Who Sets the Requirements? The guidelines for terminating or retrenching your employees in Hong Kong are set by the Hong Kong Labour Department. […]
There are many significant advantages to setting up a company in Hong Kong, especially for businesses looking to expand internationally or enter the mainland Chinese market. Here are the key benefits of setting up a company in Hong Kong: Tax advantages International business and financial environment Strategic geographical location and market springboard Legal and operational […]
Incorporating a company in Hong Kong, particularly a Private Company Limited by Shares (the most common type), involves several key steps and requirements. The process is generally fast and efficient, especially when done online. Here is a step-by-step guide to Hong Kong company incorporation: 1. Pre-Incorporation Decisions & Preparation 2. Prepare Required Documents You will need to […]
Below is a list of various accounting tasks that your company can outsource.: Here are strategies your company can follow to maximize ROI with outsourced accounting services: 1. Clearly define the scope of work While the main reason for using accounting or bookkeeping outsourcing services is to maximize ROI and reduce operational costs, it is […]
The annual compliance requirements for Hong Kong companies mainly involve the reporting and maintenance requirements of the two major government agencies, the Companies Registry (CR) and the Inland Revenue Department (IRD). Compliance matters Responsible department Statutory time limit (local private limited company). Documents must be submitted remark Annual return Companies Registry (CR). Within 42 days of […]
The process and requirements for opening an account with a bank for Hong Kong companies mainly focus on preparing thorough documents, completing the bank’s due diligence (KYC), and choosing the right bank/service. Here’s an overview of the detailed steps and required documents: Steps to Open a Bank Account The general account opening process can be […]
Non-Hong Kong permanent residents who wish to work in Hong Kong must apply for and obtain an appropriate work visa or entry permit from the Hong Kong Immigration Department in advance. Here are the main entry schemes and requirements for foreigners to work in Hong Kong: Major work visa/entry program Foreign professionals can usually apply […]
Upon successful incorporation of a Hong Kong company, the next step would be the business registration of your office address with the Inland Revenue Department (IRD) of Hong Kong. Check the Service Hours before you visit the Business Registration Office Address. Where to Register Your Office Address The registration of your office address will take place […]
The transfer of shares occurs when a shareholder in a company sells or gifts his/her shares to another new or existing shareholder. For Hong Kong companies, the procedures for a transfer of shares need to follow certain conditions. Reasons for Transfer of Shares A transfer of shares may occur for a variety of reasons such […]