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:
  Every business must be registered with the Companies Registry and obtain a valid Business Registration Certificate. SLCS assists in coordinating this process to ensure accuracy and timeliness.
- 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:
  File tax returns accurately and on time, following IRD 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 corporate secretarial coordination to help you maintain compliance.
- Annual Return & Meeting Minutes:
  File your annual return with the Companies Registry and hold an annual general meeting (AGM) to approve financial statements and record decisions.
- 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 are required to file annual Profits Tax Returns with the Inland Revenue Department (IRD). SLCS can assist in preparing profit computations and tax submissions.
- Salaries Tax & Employer Obligations:
  Employers must report employee remuneration and submit the Employers’ Return annually. SLCS supports full compliance with payroll and MPF requirements.
- 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