Hong Kong is ideally located for growing companies that want to do business development with Mainland China and Asia. She enjoys peerless transport connections. Hong Kong is strategically located at the heart of Asia, surrounded with the region's most exciting metropolis and business markets. • Beijing, Shanghai, Singapore, Taipei, Manila, Kuala Lumpur and Perth are in the same time zone as Hong Kong • Bangkok, Jakarta, Seoul and Tokyo are within one hour's difference • Easy and efficient regional travel is key to Hong Kong's success as a regional centre. • Over 100 airlines offer flights to about 180 locations • All Asia's key markets are less than four hours' flight away • Half the world's population is within five hours' flight time • About 1,000 daily flights between Hong Kong and the rest of the world • Hong Kong is ideally located for growing companies that want to do business with Mainland China and Asia. She enjoys peerless transport connections. • Hong Kong is strategically located at the heart of Asia, surrounded with the region's most exciting metropolis and business markets. •Easy and efficient regional travel is key to Hong Kong's success as a regional centre. •Over 100 airlines offer flights to about 180 locations •All Asia's key markets are less than four hours' flight away •Half the world's population is within five hours' flight time •About 1,000 daily flights between Hong Kong and the rest of the world The gateway to Mainland China Hong Kong offers easy access – commercially and geographically – to Mainland China business opportunities. The Pearl River Delta (PRD) region is immediately to the north of Hong Kong and business people commute regularly and easily between the two. The PRD, as it's commonly known, is China's largest and most productive manufacturing region. It is home to tens of thousands of factories owned or managed by Hong Kong and overseas companies. As a result of its manufacturing success, the major cities of the PRD – Shenzhen, Guangzhou and Dongguan – are now among the wealthiest in China and have become strong markets for consumer goods and business services in their own right. From Hong Kong to Guangzhou and beyond Ensuring the smooth flow of people and cargo between Hong Kong and Mainland China is essential to business success. Several new transport links are under construction, including the Guangzhou-Shenzhen-Hong Kong Express Rail Link. •The rail link from Hong Kong to Guangzhou will cover 142 kilometres in 48 minutes •It will link into existing train services in the Mainland, connecting Hong Kong further with other major cities in southern China and beyond •Wuhan will be accessible in about 3 hours and Shanghai in about 3.5 hours, city centre to city centre

Hong Kong has a simple, predictable and low tax system. The city only imposes three direct taxes, and filing taxes is straightforward. According to the 2014 Paying Taxes* study of 189 economies, Hong Kong has one of the most tax-friendly economies in the world. Why? The city only imposes three direct taxes and has generous allowances and deductions which reduce your taxable amount, simple tax system makes taxation process easier • Profits tax is capped at 16.5 percent • Salaries tax is a maximum of 15 percent • Property tax is 15 percent More important are the taxes that Hong Kong does not impose: • No sales tax or VAT/ Withholding tax / Capital gains tax / Tax on dividends / Estate tax Free trade port Hong Kong is known for its free port status and easy customs procedures. Duty is paid on very few products, for example, tobacco. One major recent change has made the import of wine and beer duty free. This has encouraged a thriving wine import, export and storage business serving retail and individual buyers. *Paying Taxes is a study commissioned by the World Bank and IFC which measures the ease of paying taxes across 189 economies worldwide. It covers both the cost of taxes and the administrative burden of tax compliance.

International, transparent and efficient Hong Kong is one of the world's most business-friendly cities. Free market policies, the rule of law and Hong Kong's business development's free flow of information mean a level playing field for all companies. Hong Kong, Asia's most popular city for international business, is a city that works. Its enduring appeal is built on political stability, the rule of law, free market principles, free flow of information, and English as the language of business. All businesses in Hong Kong benefit from: • One of the world's most open, and corruption-free economies • Independent judiciary and the rule of law • Free flow of information The Globalization Index 2012, released by Ernst & Young in cooperation with the Economist Intelligence Unit (EIU), shows that Hong Kong has the highest level of globalization of the world's 60 largest economies for the third consecutive year. One country, two systems Since 1997, Hong Kong has been under Chinese sovereignty but it has a separate political and legal system, based on principles that are best summed up by its ‘One Country, Two Systems' concept. This has helped it to retain all the fundamental strengths that underpin its success as an international business city, while enhancing its appeal with unrivalled access to opportunities in Mainland China. • Level playing field for all – no foreign ownership restrictions • Clean government and rule of law upheld by an independent judiciary • Free movement of capital, talent, goods and information • Fully convertible Hong Kong dollar separate from the Renminbi (RMB) • Autonomous executive and legislative powers • Independent participation in international forums including the World Trade Organization • English and Chinese as official languages, with English the usual language of business and contracts Among the world's most corruption-free cities Hong Kong is one of the least corrupt economies in the world, according to theTransparency International's Corruption Perceptions Index 2013. It ranks ahead of countries including Japan, the US and France. Cronyism, influence-peddling and bribery receive zero tolerance. This is due to Hong Kong's strong public administration, which ensures that companies are free to pursue their business concerns on a level playing field. Hong Kong's Independent Commission Against Corruption (ICAC) provides free advice to companies on how to prevent corruption. Established in 1974, its success has been such that countries around the world, including Australia, have used it as the model for their own corruption-fighting agencies. Independent legal system With its commitment to the rule of law, Hong Kong is a popular place to structure contracts and settle disputes. Its legal system is based on the British Common Law system and it has a fully independent judiciary. The city also offers extensive mediation and arbitration services, which offer rulings that are enforceable in a number of jurisdictions. Hong Kong's free market policies For the past 20 years Hong Kong has been ranked as the ‘World's Freest Economy' by the Heritage Foundation/Wall Street Journal. The index measures economies in 10 areas, including trade, business,Hong Kong investment and property rights. Hong Kong scored particularly well on business, trade and financial freedoms and government support for intellectual property rights. The free market and free trade is the life-blood of Hong Kong. As a result, it is one of the most open, externally-oriented economies in the world. Hong Kong embraces globalization of trade and services and is an active participant in international organizations that promote such activities. • The cornerstone of its economy rests on free enterprise, free trade and free markets open to all • There are no barriers to trade – no tariffs, no quotas, no exceptions • No restrictions on investments inward or outward • No foreign exchange controls • No nationality restrictions on corporate or sectoral ownership Free flow of information Freedom of information is another core advantage that Hong Kong offers businesses. From getting a driving license to checking your Facebook account, reading the daily news or researching potential business partners, Hong Kong is committed to transparent, timely and reliable information. • Constitutionally-guaranteed free press and freedom of speech • Information about government services easily available online • Unrestricted access to the internet

Hong Kong's efficient travel, logistics and telecommunications infrastructure makes international Hong Kong business development successful. High quality infrastructure is essential to the efficient operations of any business. Hong Kong offers one of the most advanced business infrastructures in the world, including: • Efficient and convenient local and regional transport • World-class telecommunications and connectivity • World-leading sea and air cargo system International connectivity For business travelers, managing multiple markets from Hong Kong is simple. Flights are available to more than 180 cities, including 44 locations in Mainland China, with popular destinations often served by multiple daily flights. Award-winning airport Hong Kong International Airport is one of the world's busiest international airports and a hub for many international airlines. It is one of only three airports in the world with a 5-Star Skytrax rating and has been ranked the world's best international airport for eight of the past 13 years. Getting to and from the airport couldn't be more convenient. The journey time between the central business district and the airport is just 23 minutes on the Airport Express rail link, and in-town check-in is available up to a day before departure. An easy commute Reliable, efficient and very reasonably priced, Hong Kong's public transport service is world-class. Ninety percent of the 12.6 million daily commuter trips are on commercially operated buses, trams, trains, metro and ferries. Public transport fares are low. Taxis in Hong Kong are also plentiful, affordable and most drivers speak enough English to get you efficiently to your destination. Hong Kong's convenient public transport network opens up a wealth of options for businesses set up and families. Companies seeking more cost-effective office locations can move away from Hong Kong's central business areas while remaining within easy traveling distance for employees and clients. State-of-the-art communications Hong Kong's excellent telecoms infrastructure allows users to work efficiently and seamlessly – at very affordable rates. The broadband and 3G networks cover almost 100 percent of the territory, providing companies and individuals with reliable, accessible and secure communications. In the World Economic Forum's Global Information Technology Report 2014, Hong Kong ranks second in Asia at the Networked Readiness Index. Hong Kong was ranked first in International Internet Bandwidth. An international logistics and shipping hub Hong Kong's natural deep water port and trading history has made the city one of the world's major international sea and air cargo hubs, accounting for almost a third of exports in and out of Mainland China. As a high-value cargo hub, Hong Kong handled more than 4.1 million tons of airfreight in 2013. Its seaports were even busier with berths in Hong Kong and Shenzhen together creating the busiest international sea cargo region.

Hong Kong offers generous support to help companies set up and expand There are various programmes designed to help overseas and local Hong Kong company including SMEs set up in Hong Kong. These include: • Incubator programmes • Loan guarantees • Funds for marketing Incubator programmes The Hong Kong Science & Technology Parks incubator scheme provides subsidized office space, consultancy services, investment matching and a small financial aid package to support R&D. The DesignSmart Initiative provides up to HK$100,000 funding for SMEs to invest in design projects. The Design Incubation Programme (DIP) provides office space for design tenants and other professional support. The incubation programmes run by Hong Kong's Cyberport help creative digital media SMEs and start-ups realize their ideas and build their business. Financial aid for equipment and marketing The SME Loan Guarantee Scheme (SGS) secures loans of up to HK$6 million for companies that need working equipment or business capital. The SME Export Marketing Fund (EMF) helps companies participate in overseas exhibitions and business missions and to place B2B advertising. It can fund up to 50 percent of approved expenditure, up to HK$50,000 per application. The SME Financing Guarantee Scheme can provide guarantee coverage of 50–70 percent on loans up to HK$12 million. The CreateSmart Initiative provides financial support to SMEs in the creative industries, funding them to build their brand through participation in overseas exhibitions and competitions. Technology and Innovation funding The Innovation and Technology Fund (ITF) supports companies to upgrade their technology and inject innovative ideas into their business. The Small Entrepreneur Research Assistance Programme (SERAP) provides funding for R&D of technologies that can be brought to market within two years

A Hong Kong company needs only to pay Profits Tax every year, which is calculated by 16.5% of the net assessable profits. The company without any assessable profits needs not pay any Profits Tax for the year of assessment.

The Scope of the Charge Persons, including corporations, partnerships, trustees and bodies of persons carrying on any trade, profession or business in Hong Kong are chargeable to tax on all profits (excluding profits arising from the sale of capital assets) arising in or derived from Hong Kong from such trade, profession or business(Profits Tax). There is therefore no distinction made between residents and non-residents. A resident may therefore derive profits from abroad without suffering tax; conversely, a non-resident may suffer tax on profits arising in Hong Kong. The question of whether a business is carried on in Hong Kong and whether profits are derived from Hong Kong is largely one of fact, however some guidance on the principles applied can be found in cases which have been considered by the Hong Kong Courts and the Privy Council. No tax is levied on profits arising abroad, even if they are remitted to Hong Kong. If a person sells his flat or any property as part of a scheme of profit-making, it will be regarded as a business and he is required to pay tax on any profit he may make.

Generally speaking, a company is liable to profits tax if it carries on a trade, profession or business in Hong Kong and has profits arising in or derived from Hong Kong from such trade, profession or business. This applies equally to Hong Kong companies and those incorporated overseas.

This is a question of fact and has to be decided by reference to the circumstances of each case. It should, however, be noted that a company needs not have extensive activities in Hong Kong before it is considered to be carrying on a business here. Furthermore, the activities of a company's agents in Hong Kong may also be relevant.

Again this is a question of fact. The general guideline is to ascertain the operations of the company that give rise to the profits and the places where such operations are carried out.

If the corporate profits do not derived from Hong Kong, and the company has not set up an office in Hong Kong nor hired any Hong Kong employees, its earned profits will be exempt from Profits Tax. But the Company should apply for the offshore claim exemption position from IRD.

Every limited company will receive their first Profit Tax Return from the Inland Revenue Department (IRD) 18 months once incorporated. Then the Profit Tax Return will be issued in April (normally) every year thereafter.

Normal rate (for the year of assessment 2008/09 onwards) Corporations: 16.5% Unincorporated Businesses: 15% Concessionary rate A tax rate at 50% of the normal profits tax rate will be applied to trading profits and interest income received or derived from qualifying debt instruments issued in Hong Kong, and to offshore business of professional reinsurance companies. All taxpayers are subject to the same corporation or unincorporated business tax rate irrespective of their residential status. However, any permanent or temporary resident of Hong Kong except a person under the age of 18 (unless both his parents have passed away) may obtain relief from the standard rate of tax on his profits and income by electing to be assessed under Personal Assessment. An election may offer relief where the tax computed under Personal Assessment is less than the aggregate amount of the tax charged separately under Profits Tax, Salaries Tax and Property Tax.

Profits tax basis period is either: 1. the year ended 31 March during the relevant year; 2. where the annual accounts are made up to any day other than 31 March, the year ended on that day in the relevant year; 3. where the accounts are made up for each lunar year, the lunar year ended in the relevant year; 4. where you commenced or ceased to carry on a business or changed its accounting date, the special period prescribed by sections 18C, 18D or 18E of the I.R.O.; 5. for commencement case, if accounts for this period have not been prepared the profits to be returned may be calculated by apportioning the profits shown by the accounts which cover the period; or 6. for cessation/transfer of business case, special rules apply: - where the business does not cease but, in whole or in part, is transferred to or carried on by another person; - in the case of cessation occurring on or after 1 April 1979 of a business which commenced before 1 April 1974.

Losses made in an accounting year are to be carried forward and set off against future profits of that company.

Generally, all outgoings and expenses, to the extent to which they have been incurred by the taxpayer in the production of chargeable profits, are allowed as deductions. In computing the assessable profits deduction is specifically prohibited in respect of the following:- - Domestic or private expenses and any sums not expended for the purpose of producing the profits; - Any loss or withdrawal of capital, the cost of improvements and any expenditure of a capital nature; - Any sum recoverable under insurance or contract of indemnity; - Rent of or expenses relating to premises not occupied or used for the purpose of producing the profits; - Taxes payable under the Inland Revenue Ordinance - Any remuneration or interest on capital or loans payable

Charitable donations made to approved charitable institutions or trusts of a public character or to the Government of the Hong Kong Special Administrative Region, amounting in aggregate not less than $100 but not exceeding 35% (10% for years of assessment up to and including 2002/03; and 25% for years of assessment 2003/04 to 2007/08) of the adjusted assessable profits before deduction of donations, are allowable for deduction in computing the assessable profits.

Yes. Even if the company in Hong Kong only performs the role of collecting and paying for others, it shall be deemed as agency service business, and its income shall be the commission for collection and payment for others.

According to Hong Kong tax regulations, all Hong Kong company has the obligation to declare its financial condition to Inland Revenue Department, whether its business takes place in Hong Kong or not. If this company does not have its source of income in Hong Kong, it can apply for offshore exemption to Inland Revenue Department.

Even if the offshore company does not carry on any business in Hong Kong, the royalties it received are nevertheless chargeable to profits tax if they are: (a) payments received from the exhibition or use in Hong Kong of cinematograph or television film or tape, any sound recording, or any advertising materials connected with such film, tape, or recording; or (b) payments received for the use of or right to use in Hong Kong any patent, design, trademark, copyright material or secret process or formula or other property of a similar nature, or for imparting or undertaking to impart knowledge connected with the use in Hong Kong of any such patent, design, etc; or (c) payments received for the use of or right to use outside Hong Kong any patent, design, trademark, copyright material or secret process or formula or other property of a similar nature, or for imparting or undertaking to impart knowledge connected with the use outside Hong Kong of any such patent, design, etc, which are deductible in ascertaining the assessable profits of a person under Profits Tax (not applicable to sums received or accrued before 25 June 2004). In the above situation, the assessable profits are taken to be 30% of the payments (or 10%, if the payments were received by or accrued to the offshore company before 1 April 2003) but may be taken to be 100% of the payments if the offshore company is your company's associate. The tax payable is then computed by applying the appropriate tax rate to the assessable profits so arrived at. Furthermore, the offshore company is chargeable in your company's name and your company is required under the IRO to withhold from the payments made to the offshore company sufficient money for the payment of the tax.

The Profit Tax Return shall also be submitted to the IRD even if the limited company has not commenced its business.

The Inland Revenue Ordinance (“IRO”) contains no exemption from profits tax for offshore companies. Whether an offshore company is liable to profits tax depends on the nature and extent of its activities in Hong Kong.

The accounts of a limited company shall be audited by a Certified Public Accountant before submitting to the Inland Revenue Department (IRD) together with an auditor's report and Profit Tax Return.

No. The notification of "no Profit Tax Return to the company " only means that there will be no Profit Tax Return issued actively from the IRD. However, it is the responsibility of the limited company to apply for the Profit Tax Return and submit it to the IRD with an Audited Account whenever a profit is recorded in the business. Therefore, it means that a limited company should prepare its audited account every year.

A beginning penalty of few thousand dollars or above may be applied if a Profit Tax Return is not submitted before the due date. A further fine may also be applied by a district court from the Inland Revenue Department.

A 5% of surcharge will be applied to the tax payable for the overdue payment. Then an addition of 10% (the first 5% included) surcharge will be applied to the tax payable after 6 months of overdue. A further penalty may also be applied by the District Court.

Once the Profit Tax Return is submitted to the IRD, a notification of tax payable will be issued by the IRD officer to the limited company. The company shall then pay the tax before the due date.

Profits tax is chargeable on the assessable profits for each year of assessment. As the assessable profits for any particular year cannot be known until after the end of the year concerned, a provisional tax charge has to be raised. When the assessable profits for the year of assessment are subsequently ascertained, an assessment will be made and the provisional profits tax paid will be utilized to offset the tax liability under the assessment.

Applicant may apply in writing for holding over of the whole or part of the provisional tax on the grounds as specified in the Inland Revenue Ordinance. The application for holding over of provisional tax should be lodged not later than 28 days before the due date for payment of the provisional tax, or 14 days after the date of issue of the notice for payment of the provisional tax whichever is later. An application for holding over of provisional profits tax may be made on one of the following grounds: - The assessable profits for the year of assessment are, or are likely to be, less than 90% of the assessable profits for the year preceding the year of assessment or of the estimated sum in respect of which you are liable to pay provisional profits tax. Supporting documents including properly signed draft accounts covering a period of not less than 8 months should be submitted together with the application. - The amount of any loss brought forward for set off to that year of assessment has been omitted or is incorrect. - The applicant have ceased, or will before the end of the year of assessment cease, to carry on the business and that the assessable profits for that year of assessment are, or are likely to be, less than the assessable profits for the year preceding the year of assessment or of the estimated sum in respect of which you are liable to pay provisional profits tax. - The applicant have objected to the assessment for profits tax for the year preceding the year of assessment for which provisional tax was charged.

An offshore company carrying on a business in Hong Kong is subject to the same reporting requirements as a Hong Kong company. The basic requirements are that the company has to register its business with the Business Registration Office of the IRD and to furnish profits tax tax form returns issued to it. If the company has profits chargeable to tax for any year of assessment but has not received any return from the IRD, it has to inform the IRD in writing of its liability within 4 months after the end of the basis period for that year of assessment. Furthermore, the company is required to keep sufficient records (in English or Chinese) to enable its assessable profits to be readily ascertained and the records must be retained for at least seven years after the completion of the relevant transactions.

Where the company is incorporated in a jurisdiction whose laws do not require accounts to be audited and no audit has been performed on the company's accounts, the IRD would accept unaudited accounts filed in support of the return. However, if an audit has actually been carried out notwithstanding that there was no such requirement under the laws of the relevant jurisdiction, the audited accounts should be submitted with the return. Where an offshore company's head office is outside Hong Kong but it has a branch in Hong Kong, the IRD is generally prepared to accept unaudited branch accounts without the cover of audited world-wide accounts. However, the assessor may request a copy of the audited world-wide accounts if circumstances warrant.

Basically, offshore companies and Hong Kong companies are treated in the same way. However, if a company is a non-resident, the following should be noted: (a) A non-resident is chargeable to tax either directly or in the name of his agent in respect of his Hong Kong sourced profits from a trade, profession or business carried on in Hong Kong. The tax may be recovered out of the assets of the non-resident or from the agent and the agent is required to retain from the non-resident's assets sufficient money to pay the tax. (b) A non-resident receiving royalty income as described in the answer to question 15 is subject to profits tax in the way explained therein. (c) A local person (including a company) who sells goods in Hong Kong on behalf of a non-resident shall furnish quarterly returns to the IRD showing the gross proceeds from the sales and at the same time pay to the IRD a sum equal to 1% of the sales proceeds, or such lesser sum as may have been agreed by the IRD. (d) Where a non-resident carries on business with a closely-connected resident person and the business is so arranged that it produces to the resident person either no profits or less than the ordinary profits, the business may be deemed to be carried on in Hong Kong by the non-resident through the resident person as his agent. (e) Where a non-resident receives sums directly or indirectly from the performance in Hong Kong by a non-resident entertainer or sportsman, special procedures of assessment and collection of tax would apply. For more details, see pamphlet: “Taxation of non-resident entertainers and sportsmen in Hong Kong”, which can be downloaded from the IRD's website at http://www.ird.gov.hk/eng/pdf/pam48e.pdf It should however be noted that whether a company is a non-resident is largely a question of fact and that not every offshore company is regarded as a non-resident.  

The company may consider applying, on payment of an appropriate fee, for an advance ruling under section 88A of the IRO in respect of a contemplated transaction or arrangement. Details of the application procedures are set out in DIPN No. 31: Advance Rulings, which can be downloaded from the IRD's website at http://www.ird.gov.hk/eng/pdf/e_dipn31.pdf

Generally imported/exported commodities need not be levied tariffs, except tobacco, liquor and petroleum. But import/export commodities must be declared at customs.

Reducing profits tax, salaries tax and tax under personal assessment for the year of assessment 2014/15 The Financial Secretary proposed a one-off reduction of profits tax, salaries tax and tax under personal assessment for the year of assessment 2014/15 by 75%, subject to a ceiling of $20,000 per case. This measure will be effected by amending the Inland Revenue Ordinance. For profits tax, the ceiling of the tax reduction is applied to each business. For salaries tax, the ceiling is applied to each individual taxpayer; but for couples jointly assessed, the ceiling is applied to each couple. For personal assessment, single taxpayers will each be subject to the ceiling. Married couples must make their personal assessment election together and the ceiling will therefore apply to each couple.

The Mandatory Provident Fund (MPF) is a retirement scheme system covering Hong Kong's working population. Launched on 1 December 2000, it ensures Hong Kong's workforce will be provided with retirement savings to cover basic financial needs.

Except for exempt persons, you are required to enrol all your regular employees and casual employees aged between 18 and 65 in a registered MPF scheme. Exempt persons include: • employees and self-employed persons who have attained 64 years of age on the date the relevant provision in the Mandatory Provident Fund Schemes Ordinance is implemented, i.e. 1 Dec 2000; • domestic employees; • self-employed hawkers; • people covered by statutory pension or provident fund schemes, such as civil servants and subsidized or grant school teachers; • members of occupational retirement schemes which are granted exemption certificates; • people from overseas who enter Hong Kong for employment or self-employment for not more than 13 months; • people from overseas who enter Hong Kong for employment or self-employment and who are covered by overseas retirement schemes; and • employees of the European Union Office of the European Commission in Hong Kong.

Except for exempt persons, you should enrol both full-time and part-time employees who are at least 18 but under 65 years of age in an MPF scheme within the first 60 days of employment. The 60-day employment rule does not apply to casual employees in the construction and catering industries. Note: If the 60th day of employment is a Saturday, a public holiday, a gale warning day or a black rainstorm warning day, the enrolment deadline is extended to end on the next following day which is not a Saturday, a public holiday, a gale warning day or a black rainstorm warning day.

The minimum relevant income level for MPF contributions is HK$7,100 per month or HK$280 per day. The maximum relevant income level for MPF contributions is HK$30,000 per month or HK$1,000 per day.

As an employer, you are responsible, amongst other things, for selecting a suitable MPF scheme and: • enrol all your eligible employees in such scheme • make contributions for your employees for each specified contribution period • submit the contributions to your Trustee on or before the contribution day together with the remittance statement (not required for casual employees in an industry scheme where contributions are made on the next working day after the relevant income payments) • provide each employee with a monthly pay-record (not required for casual employees in an industry scheme where contributions are made on the next working day after the relevant income payments)

According to section 40 of the Ordinance, no employer shall employ any employee in any employment unless there is in force a policy of insurance to cover their liabilities both under the Ordinance and at common law for injuries at work in respect of all their employees, irrespective of the length of employment contract or working hours, full-time or part-time employment. Should there be any queries on legal liability, employers should seek professional legal advice. The minimum insurance cover should be for an amount: • If the no. of employees not more than 200, The amount of insurance cover per event should not less than $100 million. • If the no. of employees more than 200, The amount of insurance cover per event should not less than $200 million. An employer who fails to comply with the Ordinance to secure an insurance cover commits an offence and is liable on conviction to a maximum fine of $100,000 and imprisonment for two years . Moreover, under the Employees' Compensation Assistance Ordinance, Chapter 365 of the Laws of Hong Kong, an employer who fails to comply with the compulsory insurance requirement is liable to pay a surcharge to the Employees Compensation Assistance Fund Board. For any information concerning the list of insurers underwriting employees' compensation insurance, please access the relevant website of the Hong Kong Federation of Insurers. http://www.hkfi.org.hk For information concerning the extended insurance coverage to the Shenzhen Bay Port Hong Kong Port Area, please access the relevant website of the Office of the Commissioner of Insurance. http://www.oci.gov.hk

According to section 40 of the Ordinance, no employer shall employ any employee in any employment unless there is in force a policy of insurance to cover their liabilities both under the Ordinance and at common law for injuries at work in respect of all their employees, irrespective of the length of employment contract or working hours, full-time or part-time, permanent job or temporary employment. Hence, an employer must take out an employees' compensation insurance policy for his part-time local domestic helper as required by the law.

• Other than reporting to the Commissioner for Labour, an employer should also notify the insurer as soon as possible, within the stipulated period and in the specified format (in writing or by specified form) required by the insurer, when his employee sustains a work injury; • The employer should also keep a record of the periodical payments (i.e. payments for sick leaves for work injury) paid to the injured employee, the original copies of the Certificate of Compensation Assessment (Form 5) and the Certificate of Assessment (Form 7) issued by the Labour Department, medical certificates and receipts in respect of medical expenses properly; and submit the relevant documents to the insurer within the stipulated period and in the specified format required by the insurer for indemnifying the amount of compensation already paid to the injured employee; and • On receiving any legal documents, including an order or a summons issued by the court, the employer should notify his insurer the soonest possible or seek legal advice.

SMW applies to all employees, whether they are monthly-rated, weekly-rated, daily-rated, hourly-rated, piece-rated, permanent, casual, full-time, part-time or other employees, and regardless of whether or not they are employed under a continuous contract (Note 1) as defined in the Employment Ordinance, with the following exceptions: • persons to whom the Employment Ordinance does not apply(Note 2) • live-in domestic workers (Note 3) • student interns as well as work experience students during a period of exempt student employment Note 1: According to the Employment Ordinance, an employee who has been employed continuously by the same employer for four weeks or more, with at least 18 hours worked in each week is regarded as being employed under a continuous contract. Note 2:The Employment Ordinance does not apply to : (a) a family member who lives in the same dwelling as the employer; (b) an employee as defined in the Contracts for Employment Outside Hong Kong Ordinance; (c) a person serving under a crew agreement under the Merchant Shipping (Seafarers) Ordinance, or on board a ship which is not registered in Hong Kong; (d) an apprentice whose contract of apprenticeship has been registered under the Apprenticeship Ordinance. As for (d), while certain provisions of the Employment Ordinance apply to registered apprentices, SMW is not applicable. Note 3:This refers to domestic workers (including domestic helpers, carers, chauffeurs, gardeners, boat-boys or other personal helpers) who dwell free of charge in their employing household, irrespective of their sex or race.

Wages payable to an employee in respect of any wage period shall not be less than the amount of minimum wage calculated as follows: Minimum wage = Total number of hours worked by the employee in the wage period × SMW rate (i.e. $32.5 per hour with effect from 1 May 2015)

According to the Minimum Wage Ordinance, minimum wage for an employee for a wage period is the amount derived by multiplying the total number of hours (including any part of an hour) worked by the employee in the wage period by the SMW rate. The employee should be paid wages not less than this amount in respect of the wage period. Hence, the basic principle is that wages payable to an employee in respect of any wage period should be no less than the SMW rate on average for the total number of hours worked in the wage period. The Ordinance does not prescribe that payment must be accorded for each and every hour worked or wages for each hour must meet the SMW rate.

The employment and wage payment mode (i.e. employed and remunerated at monthly-rated, weekly-rated, daily-rated, hourly-rated or piece-rated, etc.) formulated between employers and employees in accordance with their employment contracts and the Employment Ordinance need not be changed with the implementation of SMW. The Minimum Wage Ordinance provides a wage floor for employees. In essence, wages payable to an employee in respect of any wage period should be no less than the SMW rate on average for the total number of hours worked in the wage period. As long as the amount of wages payable is not less than minimum wage, it does not matter which wage payment mode is adopted. Therefore, it is not necessary for employers and employees to change their wage payment mode upon the implementation of SMW.

The definition of wages for SMW is aligned closely with that under the Employment Ordinance. Unless otherwise specified, the term “wages” in the Employment Ordinance means all remuneration, earnings, allowances including travelling allowances, attendance allowances, commission, overtime pay, tips and service charges, however designated or calculated, capable of being expressed in terms of money, payable to an employee in respect of work done or to be done, subject to certain exclusions (Note). Hence, regardless of the composition of the wage items (e.g. respective amounts of basic salary and other wage items), it will be acceptable if the minimum wage level is met in accordance with the Minimum Wage Ordinance. Note : According to the Employment Ordinance, the following items are not wages: i.    the value of any accommodation, education, food, fuel, water, light or medical care provided by the employer; ii.   employer's contribution to any retirement scheme; iii.  commission, attendance allowance or attendance bonus which is of a gratuitous nature or is payable only at the discretion of the employer; iv.  non-recurrent travelling allowance or the value of any travelling concession or travelling allowance for actual expenses incurred by the employment; v.   any sum payable to the employee to defray special expenses incurred by him by the nature of his employment; vi.  end of year payment, or annual bonus which is of a gratuitous nature or is payable only at the discretion of the employer; vii. gratuity payable on completion or termination of a contract of employment.

SMW only provides a wage floor for employees. This does not mean that employers only need to pay employees minimum wage. Employers still have to comply with the Employment Ordinance and existing terms in employment contracts (e.g. salary, arrangement of meal break and rest day) in dealing with employees' statutory and contractual entitlements.

Any provision of a contract of employment that purports to extinguish or reduce any right, benefit or protection conferred on the employee by the Minimum Wage Ordinance shall be void. In other words, the employee's entitlement to SMW cannot be reduced by the employment contract made with the employer.

When an employee during his meal break also falls under the circumstances of hours worked as specified in the Minimum Wage Ordinance, such meal break is hours worked for computing minimum wage. Hence, if an employee is, during his meal break, in accordance with the employment contract or with the agreement or at the direction of the employer, in attendance at a place of employment, irrespective of whether he is provided with work or not, such time should be included in the hours worked for computing minimum wage. On the contrary, meal break falling outside the provisions on hours worked in the Minimum Wage Ordinance is not included in the hours worked for computing minimum wage. Besides, if meal break is regarded as hours worked by the employee according to his employment contract or agreement with the employer, such time must also be taken into account in computing minimum wage. Although the Employment Ordinance does not provide specific regulation for meal break, after an employer and his employee have included meal break as hours worked by the employee in accordance with their employment contract or agreement, the employer shall not unilaterally vary or remove such contractual terms or agreement concerning hours worked. The Employment Ordinance already accords protection to employees in this respect.

According to Hong Kong taxation. employee assigned to work overseas or to work in Hong Kong Company carrying on business in Hong Kong is obliged to file Form IR56B for all its employees, irrespective whether the employee rendered services in or outside Hong Kong, so long as their total income exceeded the limit as laid down in Note 1(a) of Notes and Instructions for forms BIR56A and IR56B. You may provide additional information in the remarks column (item 14 of the Form IR56B); e.g. the employee stationed in the Beijing office and had visited Hong Kong for less than a total of 60 days during the relevant year of assessment. Based on the Hong Kong Taxtation, where an employee of a company is partly paid by an overseas subsidiary because of the services rendered outside Hong Kong for that subsidiary, the Hong Kong company should report in item 11 of the Form IR56B the aggregate amount of income paid by the Hong Kong company and the overseas subsidiary. In addition, the amount paid by the overseas subsidiary should be stated again in item 13 in Form IR56B. An employer should report the full remuneration accrued to an employee irrespective of whether the respective employee is entitled to claim exemption from Salaries Tax or not. An employee who wish to claim full / partial exemption of income or relief, may lodge his claim in his Tax Return- Individuals. Sometimes a person may be assigned or seconded to the Hong Kong office by the overseas parent company. The employer to be named in item 1 of Form IR56B will be the Hong Kong company.

Keeping payroll records 1. Your tax obligations commence when you hire the first employee 2. On hiring the employee, you have to maintain a record of that person's : (a) personal particulars (name, address, identity card or passport number with country of issue, marital status) (b) nature of employment (full time or part-time) (c) capacity in which employed (e.g. sales manager, salesman, worker, in-house lawyer, accountant, director) (d) amount of cash remuneration (regardless of denomination in domestic or foreign currency and remuneration paid overseas) (e) non-cash and fringe benefits (such as quarters, holiday journey benefits, share award, share option) (f) employer's and employee's contributions to the Mandatory Provident Fund (MPF) or its equivalent (g) employment contract and amendments to terms of employment (h) period of employment 3. You have to inform the Inland Revenue Department ("IRD") the following: (a) any change in the employee's personal particulars (such as change in residential and postal address, change in marital status) (b) any change in the employee's terms of employment (such as a change from full time to part-time) (c) the Hong Kong Identity Card No. of the employee 4. Business owners are required to keep business accounting records, including payroll records, for at least 7 years. For details of what and how records should be kept, see • A Guide to Keeping Business Records • Admissibility of Business Records Kept in Electronic Form for Tax Purposes Reporting remuneration paid to an employee General (1) When you received an Employer's Return (BIR56A), you must complete it and lodge with IRD within 1 month even if • you do not hire any employee (a Nil return should be made), • the business has not commenced, or • the business has ceased. (2) If you have employed persons who meet the conditions stated in item 1(a) of Notes and Instructions for Forms BIR56A and IR56B but do not receive an Employer's Return for the year of assessment 2014/15 by mid April 2015, you should request the IRD to issue a return. Click here for more information. (3) A copy of the completed IR56B/56E/56F/56G should be provided to the employee concerned so as to facilitate the correct completion of his/her tax return. Also see Obligations of An Employer (IR56H) The Hong Kong Identity Card No. of the employee If you have employed persons who meet the conditions stated in item 1(a) of Notes and Instructions for Forms BIR56A and IR56B but do not receive an Employer's Return for the year of assessment 2014/15 by mid April 2015, you should request the IRD to issue a return. Click here for more information. Continuous Employment You have to report the employee on your Employer's Return (BIR56A and IR 56B) for 2014/15 if he is (a) single and paid an annual income of $120,000 or more (b) married (regardless of amount) (c) a part-time staff (regardless of amount) (d) a director (regardless of amount) New employment You have to file one copy of IR56E (green form or via Electronic Filing of Employer's Return) within 3 months of employing a person if you anticipate that the employee is likely to be chargeable to Salaries Tax. On termination of his service (or death) You have to file one copy of IR56F (blue form or via Electronic Filing of Employer's Return) one month before the date of termination of his employment. On his leaving Hong Kong for good or for a substantial period of time (a) You have to ascertain from the employee his expected date of departure. (b) You have to file two copies of IR56G (pink form or via Electronic Filing of Employer's Return) one month before the expected date of departure. (c) From the date of filing IR56G and until such time the employee has made tax clearance and can produce to you a "letter of release" issued by the IRD, you should withhold all amounts due to be paid to him (including salaries, commission, bonus, reimbursement of rent/expense, money or money's worth included).

Yes. Non-Hong Kong residents may incorporate a local limited company in Hong Kong. If you do not often stay in Hong Kong or you are not familiar with the incorporation procedures, it is advisable for you to contact some local professional firms e.g. , accountancy or secretarial firms for advice and/or appoint them to act on your behalf to set up a company in Hong Kong.

You have to choose the company type and a company name first when registering company. In choosing a company name, please refer to the Companies Registry's Guideline on Registration of Company Names for Hong Kong Companies. And to get documents/forms listed below prepared: a) Incorporation Form - Form NNC1 (for company limited by shares) or Form NNC1G (for company not limited by shares); b) A copy of the company's articles of association; and c) A Notice to Business Registration Office (IRBR1) to apply for Business Registration Certificate

There is no requirement on the minimum amount of a company's paid-up capital under the Companies Ordinance.

No. The registered office must be situated in Hong Kong.

A private company must have a company secretary and at least one director who is a natural person (i.e. an individual). The sole director of a private company must not also be the company secretary. A private company having only one Company director must not have a body corporate as its company secretary the sole director of which is the sole director of the private company. A public company or a company limited by guarantee must have a company secretary and at least two directors, one of whom may be the company secretary. It must not have a body corporate as its director. If the company secretary is a natural person, he or she must ordinarily reside in Hong Kong. If the company secretary is a body corporate, the address of its registered or principal office should be in Hong Kong. There is no requirement under the Companies Ordinance that a director must be a Hong Kong resident.

It will take around 3-4 workdays.

Such records can be found 16 workdays after the date of registration.

Company Shareholders and Company directors are different in comparison in the following rights and obligations Shareholders' rights and obligations are as follows: • To take part in meetings of shareholders, and entitled to voting power in proportion of shareholding • To understand the operating and financial conditions of the company • To elect and to be elected as members of Board of Directors • To obtain dividends • To pre-empt shares transferred by other shareholders • To subscribe in priority the shares newly issued by the company • To have distribution from the remaining property after liquidation of the company • To consider and pass the annual auditors' report in meetings of shareholders • To employ or dismiss directors in meetings of shareholders and determine directors' remuneration • Directors' rights and obligations are as follows: • To take charge of ordinary operations and decisions of the company • To keep accounting book and business record • To take charge of bank account management • To secure the loan borrowed with the company's property • To propose profits distribution scheme • To propose registered capital increase scheme • To convene meetings of shareholders • To execute resolutions passed at meetings of shareholders

Yes. The shareholder and director of the company can be the same person.

A limited company shall have at least one shareholder and director, which can be the same person.

Chinese residents or overseas persons who are 18 years old or above and holding passports or ID cards can become shareholders or directors of Hong Kong limited company.

Yes.

No. There are some restrictions on the registration of company names. Generally speaking, a company name will not be registered if: a) it is the same as a name appearing in the Index of Company Names kept by the Registrar of Companies ("the Registrar"); b) it is the same as that of a body corporate incorporated or established under an Ordinance; c) in the opinion of the Registrar, its use would constitute a criminal offence; or d) in the opinion of the Registrar, it is offensive or otherwise contrary to the public interest. Moreover, some company names require the approval of the Registrar before they can be registered. These include names which contain any of the words or expressions set out in the Companies (Words and Expressions in Company Names) Order (Cap. 622A) and names which would be likely to give the impression that the company is connected in any way with the Central People's Government or the Government of the Hong Kong Special Administrative Region or any department or agency of either government. In addition, a name which is identical to a name that has been subject to a change of name direction issued by the Registrar will not be registered except with the consent of the Registrar. Some Business Service Provider can also assist company registy process.

No. A company name with a combination of English words/letters and Chinese characters will NOT be registered.

Yes, a company may be registered with a Chinese name only. A company may also be registered with an English name only or both an English name and a Chinese name.

A company may pass a Special Resolution to change its name after company registry. A "Notice of Change of Company Name" (Form NNC2) should be delivered within 15 days after the passing of the Special Resolution together with the required fee either electronically through the "e-Registry" portal (www.eregistry.gov.hk) or in hard copy form to the Shroff on the 14th floor of the Queensway Government Offices. The change of name will be effective from the date on which the Certificate of Change of Name is issued. Please note that the Special Resolution on change of name and the Articles of Association as altered in relation to change of company name need not be delivered to the Registry.

The minimum requirement is one director and one shareholder. It can be an individual person or corporation from any country. A local Hong Kong resident is not required to act as director. You will need to have a local Hong Kong resident to act as your secretary, we fulfill this requirement.

No. We can process your request through email or courier delivery. Hong Kong laws make it incredibly easy to open a company in Hong Kong and your presence is not a necessity.

Our company can provide a one shop service to assist you to get the bank account opened.

Yes. All banks require a meeting with the company director in person in Hong Kong to open the account. We can accompany you and issue you a Letter of Credit, a necessity for opening a bank account in Hong Kong.

Our company will act as company secretary to make sure your company complies with local legal requirements. We file all paperwork at the appropriate times and ensure that your company fulfills all legal obligations to remain in good standing.

The director and shareholder information of Hong Kong company can be accessed by public.

(I) Under section 776 of the Companies Ordinance, a non-Hong Kong company is required to register as a registered non-Hong Kong company within one month after the establishment of the place of business in Hong Kong. The following documents have to be delivered to the Companies Registy for registration: (a) a Form NN1 reporting the company's name, the address of the principal place of business, particulars of directors, company secretary and authorized representative in Hong Kong , etc.; (b) a certified copy of the instrument defining the company's constitution e.g. charter, statutes or memorandum and articles of association; (c) a certified copy of the company's certificate of incorporation (or its equivalent); (d) a certified copy of the company's latest published accounts; and (II) a Notice to Business Registration Office (IRBR2) The application fee is HK$1,720 (which includes the non-refundable lodgment fee of HK$295). If the non-Hong Kong company has not yet registered its business under the Business Registration Ordinance, the prescribed business registration fee and levy must also be paid upon delivery of the IRBR2.

Authorized representative of a registered non-Hong Kong Company must meet follower criterias: (a) a natural person resident in Hong Kong; (b) a solicitor corporation as defined by section 2(1) of the Legal Practitioners Ordinance (Cap. 159); (c) a corporate practice as defined by section 2(1) of the Professional Accountants Ordinance (Cap. 50); or (d) a firm of solicitors or certified public accountants (practising) （should have a place of business in Hong Kong)

Generally speaking, company name should include wordings such as "Limited", "Corporation", or simplified "Ltd.", "Corp." or "Inc.". If the proposed company name is the same as any registered company name, it cannot be registered. Moreover, the company name generally cannot contain "Bank", "Insurance" or other words with similar meaning.  

Yes, in certain countries, for example, in BVI, Cayman Islands, Samoa, Chinese characters can be used as company name.

The amount of registered capital of an offshore company depends on the requirements of the scale of operation and the purpose. The requirements for registered capital may vary in different countries

The laws in most places of offshore company incorporated do not require publicizing the identity of shareholders and directors and other material information. Therefore, it is not available to others.

Advantages of offshore company Incorporation are as follows: • Simple registration procedure, low cost and no need for capital verification • Free circulation of foreign exchange • Lawful tax litigation • Simple company maintenance • High confidentiality of registration information and documents • No scope of business or limitation of geographic coverage

No. Company in any country or region, which conducts business in Hong Kong, shall apply Business Registration Certificate and declare tax. According to Section 11 of Companies Ordinance of Hong Kong, the company should be registered as an offshore company incorporated in Hong Kong.

No. Most offshore companies need only to file the information of directors or shareholders with local agent.

The following notarized copies issued by accountant or lawyer to be provided: • Register of shareholders and directors • Certificate of Incorporation • Board meeting minutes • Articles of association • Consent to act as director • Proof of director's personal address (i.e. utility bill, telephone bill and others) • Certificate of good standing of the company (issued by local government) • The original copy of bank credit certificate of director

Yes. An offshore company can modify and supplement the articles of association and other documents lawfully.

Offshore company needs to open account at bank and have certain capital; after examination of the bank, it will be granted the credit certificate.

No. Only a local private company or a local company limited by guarantee, other than those companies specified in section 749(2) of the Companies Ordinance, may apply for deregistration. The company must be a defunct solvent company.

he company must meet the following conditions before making an application for deregistration: •  All the members of the company agree to the deregistration; •  The company has not commenced operation or business, or has not been in operation or carried on business during the 3 months immediately before the deregistration application; •  The company has no outstanding liabilities; •  The company is not a party to any legal proceedings; •  The company's assets do not consist of any immovable property situate in Hong Kong; •  If the company is a holding company, none of its subsidiary's assets consist of any immovable property situate in Hong Kong; and •  The company has obtained a "Notice of No Objection to a Company being Deregistered" ("Notice of No Objection") from the Commissioner of Inland Revenue. An application for deregistration in a Form NDR1 should be delivered to the Registrar of Companies, within 3 months from the date of issue of the Notice of No Objection, together with the required fee and the Notice of No Objection.

Once the company has obtained a court order and provided that the documents delivered are in order, it will normally take about 2 months to restore a deregistered company.

All of them will result in the dissolution of a company. Winding up is the process of settling the accounts and liquidating the assets of a company for the purpose of making distribution of the net assets to members and dissolving the company. The procedures are laid down in Part V of the Companies (Winding Up and Miscellaneous Provisions)Ordinance(Cap. 32). A defunct solvent company which meets the required conditions may be dissolved by applying for deregistration under section 750 of the Companies Ordinance. Deregistration is a relatively simple, inexpensive and quick procedure for dissolving defunct solvent companies. As for striking off, the Registrar of Companies may strike the name of a company off the Companies Register under Division 1 of Part 15 of the Companies Ordinance where the Registrar has reasonable cause to believe that the company is not in operation or carrying on business.The company shall be dissolved when its name is struck off the Companies Register. Striking off is a statutory power conferred on the Registrar, a company cannot apply for striking off.

A serviced office is a flexible and customizable office solution with fully furnished offices, complete business support services, meeting rooms and conference facilities. This enables our clients to run their businesses without incurring massive start-up costs and overhead expenses. We have a simplified process, wherein our clients accept our terms and conditions as well as commercials, eliminating the need for them to engage lawyers or incur stamp duties. Furthermore, our clients will not incur capital expenses on renovation or have to purchase fax machines, copiers or internet connections, as all of these shall be provided by our business centre. All you have to do is walk in and tell us your requirements, and we will do our best to exceed your expectations. Serviced offices are ready to move in spaces with plug and play facilities. Thus, serviced offices minimize the time-consuming process of setting up and configuring your office. The benefits of choosing serviced offices over traditional offices are: • Ready to move in space • No initial financial outlay • Optimum space utilisation • Administrative support • Savings on manpower costs • Flexibility for your expansion needs • No extra cost for maintenance charges • Savings on legal expenses A serviced office is essentially a way of managing investment risks. Our offices are elegantly designed, with large lobby areas, lounge spaces and meeting room. Thus, they offer a cost-effective and flexible solution for companies that are just starting up, those looking for flexible space to expand. Our clients only pay for what they use – the productive spaces that their workstations occupy. Unlike conventional office spaces, all ‘waste areas' are drastically reduced as they are ‘shared' among the many clients using the centre, thus reducing every individual's cost.

At our serviced office, you get access to the following: • Fully furnished office suites • Client greeting and reception service • Secretarial and administrative support • Training and meeting room facilities • IT and telecom support • Pantry services

• Strategic locations (Wan Chai/ Admirality business districts) and close proximity to transportation and amenities • Image and reputation of the building • Overall first impression of the facility • Flexibility of the office space arrangement • Reliability of the serviced office provider • Quality and efficiency of the facility and equipment • Attentiveness and professionalism of staff • Cleanliness and maintenance of general facilities

Our serviced offices are fully equipped to meet your specified needs. We offer you a wide range of services including premium modular furniture, high speed internet connections, digital voice and conference phones, fully staffed reception areas, administrative support, a fully stocked pantry area, etc. If you wish to use your own furniture and equipment, we can make arrangements that allow you to do the same.Our serviced offices are fully equipped to meet your specified needs. We offer you a wide range of services including premium modular furniture, high speed internet connections, digital voice and conference phones, fully staffed reception areas, administrative support, a fully stocked pantry area, etc. If you wish to use your own furniture and equipment, we can make arrangements that allow you to do the same.

• Serviced Office has no start-up costs such as interior design, office fit-out, furniture, equipment。 • No cost for hiring, training or employing administrative support staff • Sizeable savings on rental deposits • Access to extensive facilities without investing in additional space • The charges are levied on a per person basis and the rent depends upon the size of your office and the duration of your stay. • The following are included in your monthly rent – use of the office, building maintenance, cleaning, water, power charges, air-conditioning charges, reception staff, peons, furniture, etc. • There are no hidden costs. Incidentals like internet and communication costs, pantry usage etc

Apart from providing serviced offices, we also provide virtual offices, meeting and conference rooms, video conferencing facilities and business lounges. As our client, you can avail of: • A professional, motivated office support team – at your service but not at your payroll • A prestigious CBD business address for your business cards, letterheads and promotional materials

All business centres are accessible 24/7. Our serviced office clients are able to use access card provided to access centre anytime. The reception areas are staffed from Monday to Friday, 8.30 am to 6.00 pm.

Yes, our on-site support team will ensure that your suite is set up according to your specifications, so you can focus on business. We also provide any secretarial or business support that you might need. We'll also greet your guests, print, bind documents, take phone messages and organise couriers. Additionally, these rooms are equipped with internet connectivity, conference call facility, high-end audio-visual equipment and video conferencing facility.

We keep things completely transparent and understandable for all our clients. All terms and conditions are completely detailed in all our communications (like agreements etc.), before clients sign a contact with us, our professional team will be explaining service details.

A virtual office provides all the benefits of a prime office location, without the need for you to be there. Also a vital business register address in many of the world's best business hubs from Asia Pacific . Professional virtual office operators offer live call handling using your business name. Your office phone number is equipped with seamless call forwarding so you'll never miss a call. Plus you have 24-hour remote access to your virtual office voicemail. Even if you expand or relocate, you'll never have to change your business address. Mail received for your company can be forwarded anywhere in the world by postal mail or held for pickup. With a NOVA virtual office you enjoy business address and phone number for an economical price.

A virtual office can give a small business a big presence. Call forwarding and mail forwarding allow your company to be anywhere you need to do business without the need to have a dedicated office. A professional operator answers your virtual office phone in the name of your business. Your incoming virtual office calls are seamlessly forwarded to your preferred number or messages can be taken and delivered according to your specifications. When it comes time to test a new market, you can reduce your setup costs, and you'll never have to change your business register address.

You can easily test new markets with Virtual office without the need for capital investment. With your virtual office agreement you also receive priority access to meeting rooms for your meeting needs. When your organization needs a physical office you are able to keep the same business address and phone numbers from your virtual office upon upgrading to a physical office in that business center. With your virtual office operator handling your inbound calls and messaging, you can focus on growing your business.

Virtual office operator will answer your calls in the name of your business. Based on your specific instructions, your virtual office operator will seamlessly forward your calls to your specified number (a cell phone for when you're on the road, a central office phone or your home phone) anywhere in the world.

Should you be unavailable, your virtual office operator will direct your callers to your virtual office voicemail or to your off-site personal voicemail. You can even have your virtual office messages e-mailed directly to you!

You can decide what personalized greeting our live receptionist say

Virtual office mail forwarding services will forward postal mail received at your virtual office business address to your preferred location, or hold it for you to collect.directly, or transfer the calls into voicemail system.

As a virtual office client you receive full access to a trained administrative staff for support. Plus, at our prime business addresses, we have beautifully appointed reception and pantry areas for your use. Virtual office customers also receive priority access to meeting rooms.

Accounting work is required for several major reasons: • required by Inland Revenue Department (“IRD”); • required by management; • required by fund provider, such as shareholder and banker. Only the requirement from IRD is mandatory. Hong Kong incorporated companies are required to file tax return annually. Therefore, many SMEs prefer to having formal accounting work.

Information required for accounting work to start: Last year record • financial statements and audit report • tax demand note and corresponding • Company information • For limited company - the latest Company Registry annual return copy • For unlimited company - a summary of partnership and share information Bank account transactions • Bank account list stating all bank accounts opened • Bank statements • Cheque book stubs • Outward cheques copies (if any) • Inward cheques copies (if any) • Bank deposit and withdrawal record books (if any) Income • Invoice copies of sales just before year start and just after year end (for cut off verification purpose) • Sales record book (if any) Accounts Receivable (A/R) • Invoice settlement record • Outstanding invoice (unsettled) as at year end • Outstanding invoice (unsettled) as at year end for those appear as at last year end (aged invoice over 1 year) Expenses & Accounts Payable (A/P) • Bills (or invoices) received during the year • Unpaid bills as at year end • Unpaid bills as at year end which appears as well in last year end • Goods or services received but bills not received - amount and supplier list Stock (if applicable) • Stock list and value as at last year end • Stock list and value as at this year end • Stock purchase record during the year • Stock movement record (in and out) • Stock-take record as at year end Salary and commission • List of recipients with name, ID number, address and amount received during the year (including those resigned) • MPF contribution record

Yes for all Hong Kong companies.

The requirement to audit the accounts of the company is set down by the Hong Kong Companies Ordinance. The Ordinance does not provide any conditions under which no audit is required.

Other than annual statutory audit, a Practising Certified Public account can perform: 1. Due Diligence Audit 2. Internal Audit 3. Programme Audit 4. Special Purpose Audit 5. Audit Investment Immigration Our experienced practicing Hong Kong CPAs are committed to assist our clients in satisfying the statutory requirements in accordance with relevant rules. Our aims are to help you efficiently deal with the challenges arousing from the evaluation of financial information and potential risks in operation for your shareholders and stakeholders and breeding success to your business. With accumulated knowledge and experience in different kind of industries, our professional pay attention on different target risk of each industry, and closely supervise other factors of the financial report, in order to avoid risk.