Sole Proprietorship or Partnership
Sole proprietorship or partnership company, also known as unlimited company is the fastest and simple way to start your business in Hong Kong. The followings are the basic requirements:
- A copy of Hong Kong identify card.
- Hong Kong registered office address.
- Appointment of a local agent (must be a HK resident).
The Difference between Limited and Unlimited companies
Operating business in Hong Kong under Corporation must be better than under the personal name. It gives better image and more confidence for customers. Common company categories are limited companies and unlimited companies.
Unlimited Company
Means a company which is organized by Sole Proprietorship or Partnership, and has unlimited liability to the company's debts.
Limited Company
By one person or more of the shareholders with the limited amount of the capital, and has limited liability to the company's debts.
Details
|
Limited Company |
Unlimited Company
(Sole Proprietorship or Partnership) |
Incorporation Fee
|
HK$ 3,870 |
HK$ 2,150 |
Incorporation Timing
|
1 day / 7 day |
1 day |
Annual fee
|
Business Registration Fee
|
$2,150 |
$2,150 |
Annual Return Filing Fee
|
$105 |
No need |
Accounting
|
Yes |
Yes |
Auditing
|
Yes |
No |
Profit Tax Return
|
Yes |
Yes + Financial Statement |
Tax Rate
|
2 Million HKD or above: 16.50%
Below 2 Million HKD: 8.25%
|
2 Million HKD or above: 15.00%
Below 2 Million HKD: 7.50%
|
HK Temperature: 21°C Humidity: 72% UV Radiation: Low
