Tips for Opening a Business Bank Account in Hong Kong
Opening a business bank account in Hong Kong is an essential step for managing your company’s finances effectively. Here’s a guide to help you through the process: 1. Prepare Necessary Documents Company Documents: Certificate of Incorporation, Business Registration Certificate, and Articles of Association. Identification: Passports or ID cards of directors and shareholders. Proof of Address: […]
Navigating Hong Kong Taxation: What New Businesses Need to Know
Understanding the tax landscape in Hong Kong is crucial for new businesses to ensure compliance and optimize their tax liabilities. Here’s what you need to know: 1. Corporate Tax Rates Low Rates: Hong Kong has a flat corporate tax rate of 16.5% on assessable profits. For the first HKD 2 million of profits, the tax […]
Essential Accounting Practices for New Businesses in Hong Kong
Setting up a solid accounting system is crucial for the success of any new business in Hong Kong. Here are some essential practices to help you get started: 1. Maintain Accurate Records Bookkeeping: Keep detailed records of all financial transactions, including sales, purchases, receipts, and payments. Accounting Software: Use reliable accounting software to streamline the […]