Hong Kong is a well-known international business hub. No matter you are startups or growing companies, Hong Kong is an ideal place to ensure your success with your business ideas. We don’t have the crystal ball to see the future. But the magic is to choose the business that is going to be just right …
Monthly Archives: July 2023
HONG KONG: BUDGET HIGHLIGHTS 2023-24
Overview The Financial Secretary, Mr. Paul Chan, delivered the 2023/24 Budget Speech on 22nd February 2023. The forecasted deficit of about $139.8 billion for 2022/23 is higher than the original estimate of about $56 billion. Then, the fiscal reserves estimation decreases to $762.9 billion, equivalent to 12 months of government expenditure. Where are we NOW? …
HONG KONG ROLLS OUT CONSUMPTION VOUCHER 2023
Consumption Voucher Hong Kong will roll out another round of electronic consumption voucher 2023 that worth HK$5,000 again to permanent adult. The payment will separate in two instalments. What about Hong Kong Resident? If you are coming to Hong Kong on different admission schemes, or overseas students studying in Hong Kong. You still can receive …
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REAL-NAME REGISTRATION PROGRAMME OF HONG KONG MOBILE SIM CARDS REGISTRATION
What is Real-Name Registration Programme? The Telecommunications (Registration of SIM Cards) Regulation (the “Regulation”) effected on 23rd February 2023. The Regulation requires that, users should complete real-name register with their telecommunications service providers. What happens if you fail to register? If you fail to complete Real-Name Registration, then your mobile phone is unable to use. …
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HONG KONG: LODGEMENT OF 2022/23 PROFIT TAX RETURNS
The profits tax filing season sent with the bulk issuance of the 2023/23 profit tax returns on 3rd April 2023. Dates for filing the 2022/23 Profit Tax Returns If you would like for extension for tax filing, you have to send your application within 1 month from the date of issue. The extended due dates …
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HONG KONG: THE BUD FUND – EASY BUD
What is BUD FUND? Hong Kong Government set up a “Dedicated Fund on Branding, Upgrading and Domestic Sales” (“the BUD Fund”) in June 2012. The purposes are assisting enterprises in exploring and developing the market via: The Government extended the geographical coverage of the BUD Fund in August 2018 to also include the Association of Southeast …
HONG KONG: FULLY VIRTUAL GENERAL MEETINGS FOR HONG KONG LIMITED COMPANIES
What’s New? Starting from 28th April 2023, the Companies (Amendment) Ordinance 2023 (the “Amendment Ordinance”) came into operation in Hong Kong. The Companies Registry (CR)accepts holding an annual general meeting (AGM) or general meeting (GM) in virtual methods. members of Hong Kong Companies will no longer need to show up in person to attend the …
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SPECIFIED PERSONS FOR OBTAINING PROTECTED INFORMATION
To enhance protection of sensitive personal information, while keeping up the transparency and usefulness of the Register. The Companies Ordinance (Cap. 622) is carrying out in 3 phrases from August 2021 through end of 2023. Only Specified person can access the protected information. Where are we now? The Registry of Hong Kong is now preparing …
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IR56 FORMS DEADLINE EXTENDED TO 1 JUNE 2022
The Inland Revenue Department (IRD) on 1st April 2022 issued about 220,000 IR56 forms, 120,000 property tax returns and 300,000 employer’s returns for the year of assessment 2021-22. Thereafter, about 2.48 million tax returns for individuals will be issued on June 1. Don’t forget to file your IR56 forms Hong Kong Taxpayers have to file …
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COMPANIES ORDINANCE AND BUSINESS REGISTRATION ORDINANCE HIGHLIGHTS
Hong Kong Local registered companies must comply with the requirements of the Companies Ordinance (Chapter 622, Law of Hong Kong). And deliver statutory returns to the Registrar of Companies within prescribed time periods including: What you have to do? Business registration and its renewal are statutory requirements under the Business Registration (Chapter 310 of the …
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