Tag: Business Operation

Changing the Company Secretary in Hong Kong

Changing a company secretary requires careful document management and compliance with regulatory requirements. Essential documents to secure include statutory records, share certificates, company seals, banking materials, accounting records, audit reports, and tax correspondence. Maintaining an organized document set ensures a smooth transition and uninterrupted business operations.

Closing a Hong Kong Company

Closing a Hong Kong company can be done through deregistration, winding up (liquidation), or dormant status. Deregistration suits companies with no operations, assets, or liabilities and takes 6-9 months. Winding up can be voluntary (solvent or insolvent) or court-ordered for insolvent companies. Dormant status allows a company to remain registered without active business operations. Choosing the right option depends on financial status and future plans.

Importing Goods into Hong Kong: Air vs. Sea Port

Overview Importing goods into Hong Kong is a vital component of international trade. As an unrestricted trading hub, Hong Kong allows the free movement of goods with minimal trade barriers. While there is no customs tariff on imported goods, the Hong Kong Special Administrative Region (HKSAR) Government imposes excise duties on specific products, including: Tobacco […]

Leaving Hong Kong: Tax Clearance and Departure Procedure

Overview Leaving Hong Kong is a significant transition, requiring careful planning to ensure tax clearance, financial settlements, and legal compliance. This guide outlines the key steps to facilitate a smooth departure while closing any financial obligations. How to Do Your Tax Clearance Notify Your Employer Inform your employer about your departure date as soon as […]

Reduction of Share Capital in Hong Kong

Overview In Hong Kong’s dynamic business environment, companies may need to adjust their share capital for financial restructuring, streamlining operations, or other strategic reasons. One such method is the reduction of share capital. This article outlines the essential steps and requirements involved in the process. The Court-Free Process for Reducing Share Capital Companies in Hong […]

Share Transfer in Hong Kong

Overview Hong Kong’s business environment often involves changes in company ownership through share transfers. Ensuring compliance with local regulations is critical for a smooth and legally valid transfer. Below is a comprehensive guide to executing a share transfer in Hong Kong. Financial Statement Requirement Under the Company Ordinance of Hong Kong, a share transfer must […]

Closing a Hong Kong Company: Deregistration, Winding Up, and Dormant Status

Closing a Hong Kong company can be done through deregistration, winding up (liquidation), or dormant status. Deregistration suits companies with no operations, assets, or liabilities and takes 6-9 months. Winding up can be voluntary (solvent or insolvent) or court-ordered for insolvent companies. Dormant status allows a company to remain registered without active business operations. Choosing the right option depends on financial status and future plans.