Kickstart your entrepreneurial journey in Hong Kong

Kickstart Your Entrepreneurial Journey in Hong Kong

Hong Kong has long been recognised as one of the world’s most business-friendly destinations. With its strategic location, transparent regulations, and low tax regime, it’s an ideal hub for entrepreneurs looking to establish or expand their ventures in Asia.

If you’re planning to start your entrepreneurial journey in Hong Kong, understanding the key legal, accounting, secretarial, and tax requirements is essential.

Here’s a practical guide to help you get started — and how Shen LaRoche Corporate Services (SLCS) can make the process seamless and stress-free.

Legal Requirements
Setting up a business in Hong Kong is relatively straightforward, but it’s important to ensure compliance from day one.
- Choose the Right Business Structure:
  Decide whether to operate as a sole proprietorship, partnership, or private limited company. Each structure carries different legal and tax implications.
- Business Setup & Registration:
  Businesses operating in Hong Kong are required to complete registration procedures with the relevant authorities and obtain necessary documentation. SLCS provides advisory guidance to help clients understand documentation requirements and compliance obligations.
- Permits and Licenses:
  Depending on your business activity, you may require specific permits or industry licenses. Examples include food, finance, import/export, or professional services.
- Intellectual Property Protection:
  Consider securing your intellectual property rights through trademarks, patents, or copyrights to protect your brand and innovations.
Accounting Requirements
Maintaining transparent and accurate financial records is vital to your company’s long-term success.
- Record Keeping:
  Keep detailed financial records covering income, expenses, assets, and liabilities. These must be retained for at least seven years.
- Financial Statements:
  Prepare annual financial statements in accordance with Hong Kong Financial Reporting Standards (HKFRS).
- Audit Considerations:
  Companies may be required to undergo a statutory audit depending on size, turnover, or investor requirements. SLCS provides audit preparation support to ensure your records are complete and compliant.
- Tax Compliance:
  Ensure tax returns are prepared accurately and on time in accordance with applicable regulations and accounting standards.
Company Secretarial Compliance
Every Hong Kong limited company must meet specific corporate governance and filing requirements.
- Appoint a Qualified Company Secretary:
  Every company must appoint a qualified company secretary within six months of incorporation. SLCS provides ongoing advisory and administrative support to help you maintain compliance.
- Annual Return & Meeting Minutes:
  Companies are required to maintain ongoing corporate compliance, including periodic filings and record updates as prescribed by applicable regulations. SLCS provides professional company secretarial advisory and administrative support to assist clients in meeting these obligations.
- Regulatory Compliance:
  Stay up to date with Hong Kong’s Companies Ordinance and maintain accurate statutory registers for directors, shareholders, and company secretaries.
Profit Tax Requirements
Hong Kong operates on a territorial tax system, meaning tax is levied only on income derived from or arising in Hong Kong.
- Profits Tax:
  Businesses in Hong Kong are required to meet ongoing tax compliance obligations under applicable regulations. SLCS provides professional accounting and tax advisory support to help clients prepare required documentation in accordance with local standards.
- Salaries Tax & Employer Obligations:
  Employers must meet annual reporting obligations relating to employee remuneration.
- Tax Incentives & Exemptions:
  Hong Kong offers attractive tax incentives, including exemptions for offshore income and deductions for research, innovation, and sustainability initiatives.

Partner with SLCS

Starting a business in Hong Kong is exciting — but it requires a clear understanding of local laws and compliance procedures.

At Shen LaRoche Corporate Services (SLCS), we provide comprehensive business setup and compliance support, guiding you through incorporation, accounting, tax, and ongoing reporting needs.

Our experienced professionals help you build a strong foundation so you can focus on what matters most – growing your business.

WhatsApp: +852 5611 6296 | info@shenlaroche.com