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The Companies (Amendment) Ordinance 2018 has come into operation on 1 March 2018. New requirements were introduced under the Ordinance to enhance transparency of corporate beneficial ownership.

23/06/2020

A sole proprietorship type of business structure makes sense only for very small one-man type businesses that don’t carry any business liabilities. Unlike a private limited company, a sole proprietorship does not offer protection of personal assets and limited liability to its owner. It is often difficult for sole proprietorships to raise capital and expand their business as investors hesitate to deal with non-incorporated entities. We do not recommend that entrepreneurs use sole proprietorship as a form of business entity to conduct their business.

26/04/2017

The choice of a business structure can determine the success or failure of your business. It is one of the most important decisions for any entrepreneur, as the choice affects many aspects of the business – how you will be taxed, your exposure to law suits, how your business will be perceived by stakeholders, your ability to raise capital, the ease of your business expansion or dissolution, the degree of legal compliance you will need to adhere to, etc.

26/04/2017

Hong Kong is the investors’ paradise: a powerhouse tested and proven to act as firing canon for businesses that want to snowball in Asia and globally. It is a global financial hub run by a pro-business administration that is willing to do anything to see every business succeed. In the last World Bank’s ease of doing business Index, Hong Kong shot to the third position.

Many investors and entrepreneurs today choose to set up their businesses overseas, especially in jurisdictions like Hong Kong. Hong Kong is internationally renowned for its simple and low tax regime, making it one of the most business-friendly jurisdictions in the world.

26/04/2017

An important step after setting up your Hong Kong company is hiring employees. It is important to be aware of the legal formalities involved in the hiring process and to have a clear understanding of the employment legislation in Hong Kong. You must consider the following key issues while hiring employees in Hong Kong:

26/04/2017

This guide provides an overview of Hong Kong’s withholding tax rules including scope of withholding tax, payments that are subject to withholding tax, withholding tax rates, etc.

25/04/2017

The purpose of this article is to provide an overview of the on-going statutory compliance and annual filing requirements for Hong Kong private limited companies.

As unprecedented challenges make it inconvenient for people to travel and meet, an increasing number of entrepreneurs choose to enter the online world to source, trade and sell their products and services. Here, we briefly detail some of the most relevant aspects to consider when setting up an online and eCommerce business in Hong Kong, the financial hub of Asia:

09/10/2020

The Private Company Limited by Shares (“limited company”) is the most common vehicle to run an operating business in Hong Kong. This is largely due to its flexibility in the corporate governance and ownership management realms, which has been made even simpler with the introduction of the new Companies Ordinance (Cap. 622) ("the new CO") on 3 March 2014. Cap. 622 repealed and replaced the old Companies Ordinance (Cap. 32).

04/11/2020