Pursuant to the Companies Ordinance, Cap. 622 Laws of Hong Kong, for all the companies which are incorporated in Hong Kong with limited liability, its financial statements are required to be audited by Certified Public Accountants (Practising) who are registered with the Hong Kong Institute of Certified Public Accountants and the auditors report is required to be presented to the shareholders for approval at the annual general meeting.
The Board of Inland Revenue also prescribed that the profits tax return of limited companies in Hong Kong must be supported by auditors report.
Apart from the statutory auditing, we also perform other special audits and compile reports to meet clients’ specific needs. For example:
Our audit team is headed by experienced professionals. We uphold a high standard of integrity and professional ethics to ensure strong compliance of professional conducts and to safeguard clients best interests.
Pursuant to the Inland Revenue Ordinance, Cap. 112, Laws of Hong Kong, any person carrying on a trade, profession or business in Hong Kong has an obligation to keep proper accounting records for the ascertainment of the assessable profits for tax purpose. In addition, a set of complete and tidy accounting records can help the management to develop financial plans, to make correct decisions and to enhance operational efficiency and effectiveness. In the long run, effective accounting records could save clients’ time and money.
We have a strong accounting team. We are experienced in book-keeping, setting up of accounting systems, preparation of financial statements, preparation of management accounting reports and other related services. This could help our client to have a more thorough understanding of their strength and weakness on their operational and financial performance and then make correct decisions.
Scope of our services:
Hong Kong is charging tax on a territorial and source basis.
There are three types of tax primarily levied in Hong Kong, viz. profits tax, salaries tax and property tax. Relative to other countries and regions, Hong Kong’s tax system and tax burden is relatively simple and low.
Even so, many taxpayers continue to experience complicated problems in dealing with tax matters. If they are not handled properly, taxpayers may not only suffer from the loss of time and money, they may also be exposed to criminal liabilities under certain circumstances.
Our tax consultant will study and analyze in detail client’s company structure, mode of operation and financial information in order to offer professional tax advice and help clients developing and implementing a good and efficient tax structure. As the “Inland Revenue Ordinance” is changing and updating from time to time, we will regularly discuss and periodically review the new tax issues which may have certain tax implication on the existing structure, and deliver alternative suggestions in order to minimize the tax exposure of our clients without compromising on compliance requirements.
Scope of our services:
Company Secretarial Services
Pursuant to the Companies Ordinance, Cap. 622, Laws of Hong Kong, all companies incorporated in Hong Kong with limited liability are required to appoint a company secretary. His duties will include filing notices to the Companies Registry regarding any change of the company’s structure and its key personnel. He is also responsible for preparing board minutes, drafting minutes of the annual general meeting of shareholders and providing professional advices on the requirement of the Companies Ordinance.
Scope of our services:
Should you have any enquires about company secretarial services, please free to contact us.
Under the laws of Hong Kong, primarily there are three types of business structures, which are sole proprietorship, partnership and limited company.
The owner of sole proprietorship contributes his resources to the business and takes all the profits and bears all the risks. There is no limit in his liability for the debts of the business. In a partnership, there should be at least 2 persons. The partners jointly contribute their resources and share profits according to their partnership agreement. Besides, they are jointly and severally liable for the debts of the partnership.
A limited company is a separate legal entity and should be registered under the Companies Ordinance. Hong Kong company system is divided into (1) Incorporation of company limited by shares and (2) Incorporation of company limited by guarantee.
Hong Kong (HK)
According to the Companies Ordinance (Cap. 622), the basic structure of HK limited companies required at least one shareholder, one director, and one company secretary (who must be a HK resident or HK limited company). Besides, the registered office should be situated in Hong Kong. There is no statutory minimum capital requirement.
The normal duration for the whole process of incorporation is around 2-3 weeks.
British Virgin Islands (BVI)
BVI Company is subject to simple restrictions and reporting requirements. Besides, BVI Company is not required to register, apply for business registration certificate, file profit tax return and conduct statutory audit if the company does not carry on business in Hong Kong. Therefore, key information of the company will not be disclosed to the public at large. In addition, no local tax is demanded for carrying on business outside BVI.
The basic structure of BVI limited companies requires at least one shareholder and one director. They can be the same person.
The normal duration for the whole process of incorporation is around 2 weeks.
Other Offshore Jurisdictions
Our company also provides the registration in other jurisdiction such as Anguilla, Samoa and Cayman Islands etc. You are welcome to contact us for further information.
Advisory and Other Services
We also provide the following services: