When it comes to starting up a business, people may choose to start with registering an unlimited company, for it is easy to register, cheaper with no audit is not required, and the tax rate is relatively low. However it is also important to note that an unlimited company refers to a company organized by one or more shareholders who is jointly liable for the company's debts. Compared with a limited company, it has no independent legal status and is only regarded as an extension of the proprietor's individual.
The StartupCow team will prepare all necessary documents for you. You only need to submit the ID card and address proof, and sign the documents that we have prepared for you in advance.
StartupCow understands the difficulty of running a start-up business, so we insist to price our services at a friendly and reasonable rate while providing you with the best quality service.
StartupCow always do our best to understand the needs of each client. We listen to your voice and ensure that clients receive satisfactory service.
Setting up a Hong Kong company requires a commercial address. However renting a Hong Kong office has been well-known for its expensive price.
Under the laws of Hong Kong, each company must appoint at least one company secretary. The company secretary is a statutory position in the modern corporate system. The company secretary covers the following areas: Submit annual returns, business registration certificates and other required forms to the Companies Registry on a regular basis Formulate the company's internal meeting minutes and resolutions based on the meeting information provided by the company's directors/shareholders Printing company shares to company shareholders Update company record book
If you need a company today, but you don’t know how to start with, and you are too busy to travel, why don’t you talk to us? Everything could be done online.
Unlimited companies can be divided into sole proprietorship and partnership. A sole proprietorship is composed of one person, and partnership can be composed of 2 to 20 people. There is no nationality restriction.
In terms of legal status, a limited company can own assets and sign a contract. It is a body corporate and has an independent legal status; an unlimited company can only jointly own assets and sign contracts in the name of the proprietor's private name or partners, and has no legal status. In terms of debt liability, the shareholders of a limited company are limited to the amount of their capital contribution to the company’s debt. Once the company is insolvent, the company only needs to wind up without involving the personal property of the shareholders; unlimited companies must bear unlimited liability for the company ’s debt If the debt is not repaid at the time of closing, the proprietor must use his private property to repay the company ’s debt. In terms of tax arrangements, a limited company must stipulate annual audits by independent accountants and submit its audit report to the tax bureau in accordance with the company law. The government currently levies a profit tax of about 16.5%, but it can deduct all normal company expenses, including directors ’remuneration which can be deducted from the company and converted into personal income tax; and although the unlimited company is not used for auditing every year, the government levies profits tax at a relatively low rate, about 15%, but private expenses are not deductible.
If you intend to carry on your business in the form of a limited company in Hong Kong, you have to deliver an application for incorporation of a limited company under the Companies Ordinance. You could seek advice if you have doubt on whether the business registration of your sole proprietorship or partnership should be cancelled.