Company Formation Hong Kong

CHECK COMPANY
NAME AVAILABILITY (Step 1)



Articles

Corporate Compliance Requirements in Hong Kong

Updated on Friday 20th May 2016

Rate this article
5 5 1
based on 1 reviews


Corporate-Compliance-Requirements-in-Hong-Kong.jpgBasic requirements for Hong Kong companies

 
Any company incorporated in Hong Kong will need to observe the corporate compliance requirements. They include requirements for the management of the company as well as the annual filing and reporting obligations.
 
A company in Hong Kong must:
- have a local registered address;
- have a resident secretary;
- at least one company director who is a natural person;
- at least one shareholder, no nationality requirements but above 18 years of age;
- have an appointed auditor (applicable for most companies);
- notify the Companies Registry of any change in the company;
- renew the business registration an update the special permits and licenses, as needed;
- keep the following documents at the registered office at all times: Incorporation Certificate, Business Registration Certificate, Articles of Association, updated financial records, company seal, share certificates.
 
Our Hong Kong company formation agents can help you comply with these requirements for business management and administration.
 

Annual filing and reporting in Hong Kong

 
Apart from the basic corporate requirements, companies in Hong Kong must also observe the annual fling and reporting requirements with the Companies Registry. These requirements are described in the Company Law and failure to observe the deadlines for filing results in penalties.
 
Local companies and Hong Kong branches must file the following documents every year with the Inland Revenue Department and the Companies Registry:
- the annual return: contains information about the authorized share capital, the company directors and secretaries as well as the shareholders;
- the annual tax return: it is a report of the net income of the company; to it the company will also attach the balance sheet, the auditor’s report and the profit and loss account.
 
Our experts can help you with more information as well as professional accounting services in Hong Kong.
 

Business records in Hong Kong

 
Any business in Hong Kong and even individuals carrying on a trade or profession must keep business records of their income and expenditure. These documents are to be kept for at least 7 years and noncompliance with this requirement results in penalties. The following documents must be kept:
- books with recordings of receipts, payments, income and expenditure;
- original vouchers, bank statements, receipts, invoices, bills;
- books for assets and liabilities;
- books for cash receipts and cash expenditures;
- records for purchased goods;
- records for trading stock.
 
Other records may be necessary according to your type of business. For more information about the requirements for running a company in Hong Kong as well as details for the associated maintenance costs you can contact our Hong Kong company formation consultants.
 
 

Comments

There are no comments

Comments & Requests


Please note that client queries should NOT be posted here but sent through our Contact page.

Meet us in Hong Kong

Call us now at + 852 8191 3385  to set up an appointment with our company formation experts in Hong Kong. As a DM Advisory client, you will benefit from the joint expertise of local lawyers and consultants for opening an offshore company in Hong Kong.

We offer:

- prompt response to your inquiry (maxim 24 hours);

- cost-efficiency: competitive company formation prices;

- free and complete legal information featured on our site, at your disposal.

Online Incorporation

tax-calculator-hong-kong

Tax Calculator

tax-calculator-hong kong

Testimonials

Francesco-Dagnino.jpg

I have been working with partners at OpenCompanyHongKong.com for several years now and I am extremely pleased with their services. Their team helped my clients extend their businesses in Hong Kong.

Francesco Dagnino, Partner of
Lexia Avvocati
www.LawyersItaly.eu

Read more testimonials

We Recommend ClientPedia

This website is marketed by ClientPedia

Banner-Promoting ClientPedia-244px.jpg

We accept online payments

paypal-logo.png