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| | > | Hong Kong Companies | > | Unlimited Companies |
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| Advantage
& use of unlimited company |
Unlimited
company is very suitable for business start up because of
- its simplicity in application;
- its low maintenance cost; and
- able to have bank account in company name.
All nationalities
is eligibile to open an unlimited company in Hong
Kong. For business start up case, most unlimited
company meets the requirement of business registration
fee exemption. In this case, the possible cost
of maintaining such an unlimited company can be
very low:
Business Registration
- start up and annual renewal - HK$2,600 or
zero (exempted).
Service fee
for business registration -
- BR application
- HK$500 for HK resident, or HK$1,000 for
non-HK resident; and
- BR fee exemption
- HK$500
Accounting
& tax filing per year - maybe as low
as HK$1,000 because no audit is required. The
actual charge depends on income, volumn of transaction
and business nature of the company.
For tax purpose,
the loss can be carried forward to setoff future
year's profit.
For business purpose,
an unlimited company can carry out all business
just same as a limited company. |
For
Hong Kong resident, require Hong
Kong ID card photo copy of proprietor and all
partners.
The service fee for
handling business registration application is
HK$500 (not including courier and disbursement
charges).
For non-Hong
Kong resident, require:
- representation of an agent who is Hong Kong resident;
- photocopy of proprietor or all partners' passport;
- a Hong Kong registered address.
We charge HK$1,000 for non-Hong Kong resident client to:
- provide Hong Kong agency;
- provide Hong Kong registered address;
Therefore, totally HK$500 (one-off) + HK$1,000
(annual) = HK$1,500 service fee.
(not including courier and disbursement charges)
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| Setup
cost & annual maintenance
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Hong
Kong resident |
Non-HK
resident |
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HK$ |
HK$ |
| Government
Fee |
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| ¡¡(a)
Business Registration Certificate |
2,600 |
2,600 |
| Service
Fee |
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| ¡¡(b)
handling application of business
registration (one-off) |
500 |
500 |
| ¡¡(c)
providing agent for non-HK resident (annual
fee) |
N/A |
1,000 |
| Total |
3,100 |
4,100 |
Annual fee for Accounting
& Tax Filing of a non-active company is around HK$1,000.
(not having bank account opened or no transaction) |
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| Exemption
from Business Registration Certificate fee |
Unlimited company fulfilling
criteria as below may exempt from payment of Business
Registration fee:
- Every person can claim one exemption only for each year.
- If a person is owner of 2 unlimited companies, he cannot claim
exemption for any one of them.
- Only applicable to sole proprietor unlimited company.
- Both Hong Kong resident and non-Hong Kong resident are eligible.
- For service business ¨C average monthly receipt is < HK$10,000
- For other business ¨C average monthly receipt is < HK$30,000
We can help to apply
for business registration fee exemption at a fee
of HK$500.
For new business
registration, you have to pay for the registration
fee and wait for refund. As it is a new business,
applicant need to prove that the income of the
new business will fulfil the income requirement.
For business registration
renewal, you can exempt from payment if application
is lodged properly. Last year Income record of
the business is required to prove fulfilment
of requirement.
For all exemption application, applicant may
need to pay back the exempted business registration
fee if it is found that the income requirement
(or any other requirement) is not fulfilled.
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Text
only section
AsiaBS - Asia Business Service Limited
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Professional qualified accountants - ACCA, HKICPA
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in Hong Kong(HK), China, BVI and Offshore
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providing services of
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Company Formation (form company),
Incorporation, Business start up for Limited and Unlimited
company, Sole Proprietor, Partnership, Wholly Foreign Owned
Enterprise, WFOE, Joint Venture, JV, Representative Office,
RO
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Bank account opening - in Hong Kong - HSBC, Hang Seng Bank etc,
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Company secretary, Nominee shareholder,
director, Annual maintenance, Accounting, Auditing, Taxation,
Tax filing, Tax planning
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