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In Hong Kong, employers must report their employees’ income to the Inland Revenue Department (IRD) using Employer’s Return Form ( IR56) each year around the end of April or early May. Here’s a simple step-by-step guide: 1. Obtain the Employer’s Return Form The Hong Kong Inland Revenue Departement (IRD) sends out the IR56B form every year in early …
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In the rapidly changing world of social commerce, Little Red Book (LRB) has become a revolutionary platform for businesses in Hong Kong. By seamlessly combining authentic user content, data-driven marketing, and streamlined shopping experiences, LRB provides a vibrant space for brands to connect with local audiences. Here’s a closer look at how LRB is reshaping …
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If you’re considering launching an e-commerce business, Hong Kong presents an optimal environment to kick off your venture. Recognized as one of Asia’s premier logistics hubs, the city offers significant advantages for online retailers. Its outstanding connectivity through air and sea transport allows for efficient movement of goods in and out of the region. Tax …
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When establishing a Hong Kong Limited Company, one critical factor to consider is the company’s share structure. Selecting the right directors and shareholders can not only facilitate business growth but also enhance governance stability and attract potential investors. If your business has multiple shareholders, drafting a comprehensive shareholder agreement is essential to prevent disputes in …
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In the context of business operations, the term “offshore” often signifies advantages such as tax reductions; however, in Hong Kong, understanding offshore tax reporting is essential. The city operates under a territorial tax regime, meaning that only profits generated from Hong Kong sources are subject to Profits Tax. Thus, if you run a business in …
Xero, a leading cloud-based accounting software, is increasingly recognized for its robust features tailored specifically for e-commerce enterprises. Here’s a closer look at the key functionalities that make Xero an outstanding choice for online retailers. Seamless Integration with E-Commerce Platforms Xero integrates smoothly with platforms like Shopify, WooCommerce, BigCommerce, and Magento. This allows automatic syncing …
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Hong Kong stands out as an excellent location to launch an e-commerce venture. Renowned as one of the largest financial hubs globally, the city has long been a fertile ground for online businesses, even prior to the pandemic. With e-commerce sales projected to grow at a robust rate of 8.3% between 2022 and 2024, the …
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China has been the forerunner in e-commerce over the past decade. So, the emergence of China’s e-commerce market inaugurated a new era in the country’s economy. Centre O is going to illustrate the online growth figures. 1. Total E-Commerce Market Size According to data from 2019 China Internet Network Information centre, the total e-commerce market …
What is a Registered Address? A Registered address is the address of your company in the government records. Under the Company Ordinance and laws in Hong Kong, each company must have a registered address in Hong Kong. This location acts as the address for receiving the company mail from the government. This registered address must …
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General speaking Hong Kong is under governance of China. However, there are significant differences between a Hong Kong Limited Company and a China Limited Company. Primarily due to the distinct legal, regulatory and business environments in two difference jurisdictions. Legal System Hong Kong operates under a common law system. The system emphasises judicial independence, protection …
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