Frequently Asked Questions
Frequently asked questions about entrepreneurship, tax filing, auditing, accounting, secretarial, etc.,
They can be viewed according to the following categories, and you can also enter keywords to start searching for related questions and answers.
What are the requirements for setting up a limited company in Hong Kong?
Can a mainland resident establish a Hong Kong company?
How long does it take to establish a Hong Kong limited company?
Does the business registration certificate have to fill in the nature of the business?
Will the business scope on the business registration certificate restrict the company from expanding other businesses?
Are there potential risks in buying a ready-made shell company?
Can the company change the company name?
Is it possible to establish a limited company without the words "limited" or "Limited"?
Can I use simplified Chinese characters in the Chinese company name of a local company?
What are the restrictions on the company name?
Can the company name only be registered in Chinese or English?
What is the difference between shareholders and directors?
Participate in the shareholders meeting and enjoy voting rights based on the proportion of shares
Understand the company's operating and financial status
Elect and be elected as a member of the board of directors
Priority purchase of shares transferred by other shareholders
Priority to subscribe for newly issued shares of the company
After the company is wound up, the remaining property will be distributed in accordance with the law
The shareholders meeting reviewed and passed the annual audit report
Appoint or dismiss directors through the shareholders meeting, and decide on the remuneration of directors
Responsible for the company's daily operations and decision-making
Keep accounting books and business records
Responsible for bank account management
Represent the company to borrow loans and use company property as collateral
Draw up a profit distribution plan
Draft a plan to increase the registered capital
Convene a general meeting of shareholders
Implementation of the resolutions of the general meeting of shareholders
Can shareholders and directors be the same person?
How many shareholders and directors does a limited company have at least?
Can non-Hong Kong residents become shareholders and directors of Hong Kong limited companies?
If I am not a Hong Kong resident, do I have to hold a passport to become a shareholder and director of a limited company?
Do I need to report to the government department for changes in company information and director information?
After the company is registered, how should I open a bank account?
What documents do I need to open a bank account?
Original meeting minutes for approval of account opening
Company registration certificate (accountant notarized copy)
Business registration certificate (accountant notarized copy)
Notice of appointment of directors and secretary (notarized copy of accountant)
Articles of Association (notarized copy of accountant)
ID card/passport of each director
Proof of personal address of each director
Is the bank account of a limited company operated by shareholders or directors?
Hong Kong company annual review
How to apply for Hong Kong company annual review?
When is the annual review of a Hong Kong company usually processed?
What are the fees for the company's annual review?
What are the consequences of failing to go through the annual review after the deadline?
The company has not been in business for the past few years. Why does it still have to deliver the annual return for registration?
If the company announces that it is inactive, what documents need to be delivered for registration?
When did the company become an inactive company?
The date on which the special resolution was delivered to the Registrar of Companies; or
The later date specified in the special resolution.
The company delivered a special resolution registration to the Registrar of Companies after the anniversary of its founding this year, announcing that the company has been inactive from the date of delivery of the special resolution. Is it necessary to deliver this year’s annual return?
When will an inactive company cease to be an inactive company?
The company has delivered a special resolution (pdf format sample) to the Registrar of Companies for registration announcing that the company intends to conduct an accounting transaction; or
Related to the company’s accounting transactions.
If the inactive company has delivered a special resolution to the Registrar of Companies announcing that the company intends to conduct an accounting transaction and resume activities this year, is it necessary to deliver this year's annual return?
If an inactive company conducts any accounting transactions, can it be exempted from delivering annual returns?
Accounting and auditing
After the establishment of a Hong Kong company, how to handle annual accounting and auditing?
After the establishment of a Hong Kong company, do the annual financial statements have to be audited?
How to calculate the start and end time of the Hong Kong fiscal year?
How long must the company's business records be kept?
What business records does the company need to keep?
After receiving the notice of not issuing tax forms from the tax bureau, does it mean that the company does not need to adjust and audit the accounts?
Hong Kong Taxation Knowledge
What are profits tax, salaries tax and property tax?
What taxes do Hong Kong companies pay every year?
When does a newly established company usually start filing tax returns?
When does a company usually pay taxes?
What is provisional profits tax?
Can Hong Kong company profits offset the previous year's losses?
Do Hong Kong import and export goods need to pay customs duties?
My Hong Kong company only opens an account in the bank to collect and pay the Chinese company’s purchases. Does the Hong Kong company need to do accounting, audit and tax returns?
My company only opens accounts with foreign banks in China, but does not open an account in Hong Kong. Does the company's business do not need to file tax returns in Hong Kong?
What are the restrictions on donation deductions in Hong Kong's tax regulations?
After receiving the notice of non-issuance of tax forms from the tax bureau, the company does not need to adjust the accounts and audit?
What tax responsibilities should employers fulfill?
Personal information (name, address, Hong Kong ID card number or passport number and issuing country, marital status)
Nature of employment (full-time or part-time)
Employed position (for example: sales manager, salesperson, worker, internal lawyer, accountant, director)
The amount of salary paid in cash or other methods (whether paid in Hong Kong dollars, foreign currencies or overseas)
Non-cash and other incidental benefits (e.g. dormitory, vacation trip benefits, share rewards, share subscription rights)
Employees and employers pay contributions to MPF schemes (or similar schemes)
Employment contract and subsequent amendments
During the employment period, the employer must provide the tax bureau:
Update of employee's personal information, such as: employee's new residential address and mailing address or marital status change
Changes in terms of employment, for example: employees changed from full-time to part-time
Employee's Hong Kong Identity Card Number
Fill in the employer’s tax return and declare the salary paid to the employee. The employer must complete and return it to the Inland Revenue Department within 1 month of the issuance of the form.
Business operators must keep business records (including records of payment of employee salaries) for at least 7 years.
Deregister Hong Kong company
Can a Hong Kong company be deregistered?
Get the consent of all shareholders
The company has no operations or business operations, or has ceased operations for more than 3 months before applying for cancellation
No outstanding debts, including government fees and taxes
Must obtain the "No Objection Written Notice" issued by the Commissioner of Inland Revenue of Hong Kong
The company has outstanding debts, can it apply for deregistration?
The parent company or subsidiary company, directors, shareholders, etc. agree to be responsible for repaying debts
The creditor signs a consent form to waive debt collection
Do I need to submit financial statements when applying for cancellation of a Hong Kong company?
Is it necessary to submit an annual return during the application for cancellation of a Hong Kong company?
Registered address of the company
Do I need to have an office or address to register a company in Hong Kong?
Does the company's registered address have to be in Hong Kong?
Does the change of company address need to be reported to the government department?
Yes. If there is any change in company information, the company secretary must report to the Companies Registry in the appropriate specified form and within a specified period in accordance with the relevant provisions of the Companies Ordinance. Depending on the content of the information, the company secretary may also need to report to the Business Registration Office.