Guide for Opening a Bank Account in Hong Kong
Reading Time: 5 minutesPart of the required things to do after incorporating a business in Hong Kong is to open bank account in Hong Kong. If you’re a foreigner interested in starting a business in Hong Kong and in need of a foreign bank account, you must undergo a verification process before the bank can grant your account opening request. If you’re not acquainted with the procedure, read on to the end to get enlightened on the process of setting up a Hong Kong bank account and other formalities involved.
Hong Kong Salary Tax Rates for Expats: What You Need to Know
Reading Time: 6 minutesHong Kong has the lowest tax rate in Asia which also boasts one of the lowest tax rates in the entire globe. The territory has a simple and understandable tax system, and it is one of the most well-liked investment destinations in the world due to its status as a tax haven.
Hong Kong Record Keeping Requirements: Crucial Guidelines for Compliance
Reading Time: 6 minutesEffective business record keeping is crucial for managing costs, ensuring regulatory compliance, and establishing a solid foundation, especially when starting a business in Hong Kong. While it may not be your initial focus, maintaining sufficient records, including bank statements, is essential for long-term success. In this article, we will take a closer look at some of the essential record keeping rules in Hong Kong that ensure a smoother ride in the long run.
Offshore Income Hong Kong: All You Need to Know
Reading Time: 6 minutesHong Kong is a great business location that can give your business a foothold in the Asian Market. It is a prime location for setting up your business as an international company. Offshore companies are companies that does their businesses solely outside the country. Interestingly, offshore companies in Hong Kong may qualify for a tax exemption known as Offshore Tax.
Easy Guide To Stamp Duty and Shares Transfers in Hong Kong
Reading Time: 8 minutesRunning a company is quite tricky. You’ll have to deal with several important concepts, such as stamp duty Hong Kong transfer of shares. Business owners must know how to handle these concepts, especially shares transfer.
The responsibility of overseeing the process of stamp duty Hong Kong transfer of shares often falls onto the company secretary.
Hong Kong Work Visa Requirements
Reading Time: 7 minutesIf you’re planning to relocate to Hong Kong to study, work or live, you need to understand Hong Kong work visa requirements.
Understanding Hong Kong Work Permit Requirements: An Overview
Reading Time: 6 minutesHong Kong is a hub for technology and trade. You’d expect to find a decent amount of skilled capital in the region – skilled or unskilled. To work as a skilled foreign employee in Hong Kong, you’ll need a work permit. The Hong Kong work permit can be a hassle to get. You need professional help to do it. This piece will break down crucial details about the Hong Kong work permit, including its eligibility criteria and application requirements.
Quick Guide to Hong Kong FSIE Regime (Foreign-Source Income) Exemption
Reading Time: 5 minutesAs of 2024, understanding the recent changes to Hong Kong’s Foreign-Source Income Exemption (FSIE) regime is crucial. The FSIE regime, which exempts certain foreign-sourced income from local taxation, has been expanded to include dividends, interest, IP income, and gains from equity disposals. Key updates include the need for substantial economic activities in Hong Kong, a minimum 5% equity holding not less than 12 months for dividend exemptions, and a direct link between IP income and R&D activities conducted locally.
Unraveling the Process: How to Open a Company Bank Account in Hong Kong
Reading Time: 6 minutesStarting a business is relatively straightforward, but there are essential steps to take after incorporation. One crucial step is to have your company secretary register for a business bank account. Holding physical cash is impractical and risky, whereas a business bank account simplifies transactions and offers secure, near-limitless storage.
The Role of Company Secretarial Services in Hong Kong: Why They Are Essential for Business Success
Reading Time: 5 minutesWhen establishing and running a company in Hong Kong, one of the critical roles that often goes unnoticed but is essential for maintaining good corporate governance is that of the company secretary. This position is not merely a formality; it plays a vital role in ensuring compliance with Hong Kong’s legal and regulatory framework. For both local and foreign companies operating in Hong Kong, having a qualified company secretary is not only a statutory requirement but also a key component in sustaining the long-term success of the business. In this article, we will explore the role of company secretarial services in Hong Kong, their responsibilities, why they are essential, and how businesses can benefit from outsourcing this function.