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Whether you do business in China or you are living China, either a personal bank account or a commercial bank account is needed. Dealing with banks in China are undoubtedly requires time and lots of proofs of documents. Clearly, plan well and prepare 2 to 3 weeks of time and with a few visits to …
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Chief Executive Carrie Lam announced on 3rd May, 2022 to further ease the Covid-Related restrictions. After considering the epidemic’s relative stability and the strong demands of people recently. The phase 2 social distancing measures will be in effect 2-week earlier. Covid-19 rules to ease on 5th May Beaches & Swimming pools to reopen. No need …
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Dealing with banking issue, it always feels unpleasant. However, you cannot avoid dealing with banks when you are running a business. As an entrepreneur, you have to open a proper commercial bank account once your business is established. Otherwise, it’s hard to receive funds from your clients, paying your suppliers, giving out salaries…etc. Centre O …
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In case you want to run a business in Hong Kong, you have a few steps to complete. The first one is to apply for a Certificate of Incorporate (CI) number. Once you have the CI number, the next step is to apply for a Hong Kong Business Registration(BR) number. You must register with the …
Continue reading “HOW TO READ A HONG KONG BUSINESS REGISTRATION CERTIFICATE”
The Financial Secretary proposed in his 2022-23 Budget to waive Business Registration fees for 1 year. The schedule is starting from 1st April, 2022. Details of the Business Registration Fees waiver In respect of business registration certificates and branch registration certificates that commence on 1st April 2022 but before 1st April 2023. The fees payable …
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What is MPF? MPF refers to “Mandatory Provident Fund”. Hong Kong started MPF system since December 2000 in response to the rapidly ageing population issue in Hong Kong. How to calculate MPF contributions? The MPF contributions have 2 parts: 5% from employee and 5% from employer. Totally 10% of employee’s relevant income. Moreover, the employers …
Starting from 17th Jun 2022, the Business Registration Levy will reduce to $150 per annum. While the registration fee is remaining $0 since 1st April 2019. So, if the commencement date of your company is on or after 17th Jun, then you can save $100. Who Eligible? The new rate is applicable to the incorporation …
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According Business Registration Ordinance (Chapter 310, Laws of Hong Kong). Every business owner in Hong Kong should ensure compliance with the requirements of the Business Registration Ordinance. Please find the highlight as following: Section 7(2) requires every business owner to notify the Commissioner of Inland Revenue (Commissioner). If the business owner does not receive the …
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Hong Kong will begin relaxing its “Most Stringent” set of social distancing restrictions on 21st April 2022. Food and Health secretary Sophia Chan announced that the following measures will be in place on 21st April. Restaurants can resume evening dine-in services until 10 p.m. with a maximum of 4 people per table. Banquets with a …
Continue reading “UPDATED HONG KONG COVID-19 RULES FROM 21 APRIL 2022”
The Ministry of Finance and the State Taxation Bureau issued a joint announcement (No. 15 [2022]). China is extending the value‑added tax (VAT) exemption policy for small‑scale taxpayers and small business firms. The exemption has started since April 2021 due to the Covid-19 pandemic, slow down of business activities across within China and cross-boarder businesses. …