Let me tell you a brief information regarding setting up a company in Hong Kong, as discussed in our previous podcast regarding ASEAN, setting up a company in Hong Kong is the best choice you’ll ever made, here’s my 3 cents:
- Hong Kong is the top 1 business country here in ASIA.
- Taxes are low compared to any other countries in ASIA.
- Quick and easy! For just a few days, you’ll have your company incorporated in Hong Kong.
I would like to inform everyone that there will also be things to remember once your company has been set up in Hong Kong.
- Annual Return Filing and Business Registration Certificate should be renewed on the day of your incorporation every year.
- Profit Tax Return or PTR for short, will be issued on the day of your company incorporation each year and should be filed every year, once it has been issued, they will only give 1 month to submit, so it is very important to keep record and track all your Company Profit & Loss, transactions and bank statements for this, make sure your General Ledger and Balance sheet are prepared beforehand, to avoid any delays on your audit. Feel free to message us if you have any audit concerns.
- Statutory requirement of appointment of auditor, if you have an auditor or you would like to get our audit services.
- Salaries Tax Return and employer’s return should also be declared every year.
- Please take note that late penalty charges applies to those who failed to settle on the deadline. Kindly inform us in advance if you won’t be able to settle on the due date.
I hope I was able to give the informations you need regarding setting up a company in Hong Kong.
Please don’t hesitate to message us for any suggestions, concerns or questions you have, and we will be very happy to assist each one of you. Good luck!