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.
A Detailed Look at Hong Kong Bank Account Format
Reading Time: 5 minutesAs the business owner or CEO of an organization incorporated in Hong Kong, it is essential to understand how to transfer funds between accounts. Knowing the crucial details of the Hong Kong bank account format, such as the beneficiary’s account number, branch, and bank code, is vital, especially when conducting transactions in foreign currency. Providing accurate information ensures that your transactions proceed smoothly and funds are not misdirected.
Crucial details of the Hong Kong bank account format for payment, such as your beneficiary’s account number, branch, and bank code should be known to you at every stage, particularly when carrying out transactions in foreign currency.
Guide to Taxable Income for Hong Kong Companies: Is Interest Income Taxable in Hong Kong?
Reading Time: 6 minutesRunning a business in Hong Kong is a dream for many business owners. There are many benefits to building an organization here. To enjoy Hong Kong’s resources, business owners must be ready to pay taxes and plan adequately for them.
When a business’s operations in Hong Kong generate profit, it must pay taxes. There are different types of tax, including profit, salary, and interest income tax. Entrepreneurs are expected to know everything about their business’s taxes.
If you’re new to the region, you may wonder: is interest income taxable in Hong Kong?
Unveiling the 25 Leading Business Opportunities in Hong Kong
Reading Time: 7 minutesRenowned as a bustling metropolis and global financial hub, Hong Kong is a city teeming with entrepreneurial opportunities and is considered one of the best places to incorporate a business with a high chance of financial success.
As a vibrant business ecosystem that embraces innovation and nurtures startups, Hong Kong is a great place for small businesses to flourish and there are many great business opportunities in Hong Kong to choose from.
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.
A Closer Look at Hong Kong Audit Standards and Ensuring Compliance
Reading Time: 5 minutesHong Kong’s auditing standards play a crucial role in upholding the integrity and transparency of financial reporting, which is fundamental to the region’s robust business environment. The Hong Kong Standards on Auditing (HKSAs) provide a comprehensive framework that auditors must follow, ensuring financial statements are accurate, reliable, and reflective of true financial health.
This article explores the key principles and practices embedded within HKSAs, offering valuable insights into their application, particularly for small and medium-sized enterprises (SMEs). By understanding and complying with these standards, businesses in Hong Kong can enhance trust, safeguard their reputation, and ensure long-term financial credibility.
Provisional Tax in Hong Kong: What Businesses Need to Know
Reading Time: 5 minutesNavigating the tax landscape in Hong Kong can be a daunting task for businesses, particularly when it comes to understanding and complying with provisional tax requirements. Provisional tax, an essential aspect of the Hong Kong tax system, requires businesses to make advance payments on their expected profits for the coming year.
Annual Leave in Hong Kong – Everything You Need to Know
Reading Time: 3 minutesThe annual leave Hong Kong is per the country’s EO or Employment Ordinance. It dictates that all Hong Kong employers provide their employees paid seven-day or more time off, depending on their years of service in the company.
Everything You Need to Know About Registering a Business in Hong Kong
Reading Time: 5 minutesHong Kong, with its dynamic business environment, strategic location, and favorable tax regime, is an ideal place for entrepreneurs looking to start an online business. Known for its ease of doing business, efficient regulatory framework, and world-class infrastructure, Hong Kong provides an excellent platform for startups to thrive.
A Beginner’s Guide to Online Business Registration in Hong Kong
Reading Time: 4 minutesHong Kong, with its dynamic business environment, strategic location, and favorable tax regime, is an ideal place for entrepreneurs looking to start an online business. Known for its ease of doing business, efficient regulatory framework, and world-class infrastructure, Hong Kong provides an excellent platform for startups to thrive.
