News

Hong Kong has long been a magnet for startups and global enterprises alike as it is renowned for its thriving market and providing endless opportunities for all businesses looking to expand their way. You may think that company registration is difficult as a first-time entrepreneur, but in fact, setting up a company in Hong Kong will have an efficient and smooth process if you have the right support. If you have the desire to start a business in Hong Kong, but don't know what to do, what the next plans are, or get lost in outdated advice, this article will be the guide for you. Let's take a look at SMEBro's guide on setting up a company in Hong Kong. Is it easy to start a business in Hong Kong? Yes, opening a business in Hong Kong is considered relatively easy compared to other places. Some of the main reasons are business-friendly environment, world-class infrastructure, legal transparency, and strategic location. The opening process has clear regulations, foreign ownership allowed, simple incorporation process, low and simple taxes. Hong Kong has a solid banking system and having access to a global financial hub. Why is opening a business in Hong Kong so promising? Because it acts as a bridge between the global market and the Mainland China, making it ideal for companies targeting Asia. Streamlined registration can be done online or in person, can be done in a few working days, the low tax regime is considered simple and attractive for entrepreneurs, plus the government offers funding schemes to support different industries. There are many compelling reasons why starting a business in Hong Kong is easy and promising. How much does it cost to set up a company in HK? Setting up a company in Hong Kong is relatively affordable with typical costs ranging from HKD $10,000 – $25,000+ (first-year estimate) depending on your setup and if you use service providers. This cost covers everything from company formation to legal basics for the first year. How long does it take to register a company in Hong Kong? Registering a company in Hong Kong does not take long. The usual timeline is 2-3 days if all requirements are ready and processed online, and an average of 5-7 business days if including preparation and document collection. For example, if you want to register a Private Limited Company and use an agency, you need to prepare company details such as proposed company name, type of business, registered office address, and share capital structure. A Guide to Set Up a Company in Hong Kong If you are a solo founder, director, or shareholder, what you need to prepare is the full name from ID or passport, nationality, residential address, passport copy, Hong Kong ID, email and phone number, plus percentage of shares held by each shareholder. The company secretary must be a Hong Kong resident or a corporate secretary firm. Setting up a company in Hong Kong Now, SMEBro will explain Hong Kong Limited Company Establishment Process. Discussion and evaluation The consultant will provide you with one-on-one case discussions to get the most suitable business plan for you, select the company category that suits your business, and explain every detail that matters to establishing a Hong Kong company. Prepare incorporation documents You are required to prepare copies of several things that we have written above such as Hong Kong identity cards or passports, company secretary, and proof of residential address for applying to open a company. Pre-check company name You will be asked to check pre-selected company name in both English and Chinese to ensure that your company name has not been used before and chosen appropriately to avoid unnecessary risks. We will carefully review the name and provide professional business name if needed. Payment of service charges and government fees You can choose to remit the service fee, company registration fee and business registration fee (HKD $1,720 & $2,150) to our accountant by cash, deposit or transfer. After we receive the funds, we will immediately start the company opening process. Company establishment Once the company is established, we will hand over the Business Registration Certificate (BR), Company Incorporation Certificate (CI) and other relevant company documents to the business owner. Open a bank account We will help you to prepare the documents required for account opening, and make an appointment to open a business account at a local bank or online wallet. Does a limited company have to have a company secretary? Having a company secretary is necessary, and every Hong Kong limited company must have one under the Companies Ordinance (Cap. 622). The company secretary is responsible for ensuring that the company stays compliant with local laws from filing annual returns to the company registry, maintaining statutory books and records and handling changes to the company structure.  Most entrepreneurs use a professional secretarial service, and we have prepared a bundle for everything from the opening business process to providing a company secretary. This bundle will make it easier for you to start your business and ensures compliance from day opening. Why register a company in Hong Kong? There are tons of advantages when you have a business in Hong Kong. Some of the key things why opening a business is very profitable in Hong Kong are simple tax system, no VAT, no capital gains tax, no withholding tax on interest or dividends, corporate tax for first HKD 2M profit is 8.25% and above that is 16.5%. Transparent legal system, based on English common law, robust rule of law and contract enforcement, recognized for IP protection and ease of doing business. This will be great for E-commerce, dropshipping business, import-export companies, SaaS and digital startups, holding companies, and investment entities. If you want to start getting a business with added credibility in global markets, immediately open your new business with SMEBrother, and our professional company secretarial services will do everything you need starting from: Assisting you for Hong Kong company registration, complying with Hong Kong's regulatory requirements, opening a new bank account, auditing, accounting and tax consultation, and many more.

Hong Kong is one of the places known as business-friendly cities in the world, because it attracts many global entrepreneurs and companies. Apart from having a favorable business environment, Hong Kong also has low taxation, making it a top choice for many people who want to apply for company registration. Learn about how to set up a company in Hong Kong with us, because you will think it might be hard when you don't understand how to start. This article will explain several important steps, requirements and tips for those of you who want to know local laws and regulations for company registration in Hong Kong. What are the benefits when set up a company in Hong Kong? Hong Kong is a city with a high standard of living, with superb infrastructure and has a vibrant culture. For these reasons alone, Hong Kong can become the right place for international trade and investment. Some of the things below are reasons why you should learn to set up a company in Hong Kong. Cheap to set up and straightforward Company registration in Hong Kong is cost-efficient and relatively fast. All you need to have is a business registration certificate from the Companies Registry which you can get within a few days. Don't worry about future costs, because government fees for incorporation are transparent and reasonable. Hong Kong does not require minimum registered capital or a local director, there are no restrictions on foreign investment, and has a business-friendly environment. Business-friendly taxes Hong Kong has one of the lowest tax systems in the world with a two-tiered profit tax rate for corporations with 8.25% tax on earnings up to 2 million Hong Kong Dollars, and 16.5% on earnings over 2 million Hong Kong Dollars, and with an exemption for the first 6,000 Hong Kong Dollar profit. The country has a territorial tax regime, which means there is no additional corporate tax for companies conducting business outside Hong Kong. Vibrant business environment Hong Kong has become a dynamic hub for SMEs because it offers adaptability and an innovative environment. There are already more than 360,000 SMEs in Hong Kong, and Hong Kong has become the world's top ten countries with a competitive economy. Many entrepreneurs want to expand their business in Hong Kong, because the Hong Kong Government supports innovation and technology development, by allocating 500 million Hong Kong Dollars to launch a Digital Transformation Support Pilot Program as digital solutions for SMEs. Things to know before registering a company in Hong Kong Before setting up a company in Hong Kong, you must know several things first. Because many people want to open a company in Hong Kong, you have to understand how institutions and local organizations work in Hong Kong. When you want to set up a company in Hong Kong, you have to deal with three main interlocutors, such as The Companies Registry, The Inland Revenue Department, and the company secretary. Limited Company and Unlimited Company in Hong Kong The company secretary must be the primary contact person during company establishment and maintenance. On the other hand, the IRD and Hong Kong Companies Registry will collaborate to ensure that your business complies with the laws of Hong Kong, upholds accurate statutory records, and is monitored for timely filing of the annual return. How to set up a company in Hong Kong? There are nine steps to setting up a company in Hong Kong, once you are familiar with local organizations and institutions. Choose a company name Choose the legal entity for your company Select a company secretary Appoint legal representatives Set the amount of the share capital Prepare the incorporation documents Obtain a business registration and incorporation certificate Set up a company bank account Keep up the taxies and financial reporting We will explain several important steps to make it easier for you when setting up a company. Choose the right legal entity This is crucial, because it can affect factors such as filing your taxes and how your business is done in general. The list of main possible legal entities for your business are: Private limited company, company limited by guarantee, sole proprietorship, partnerships, and branch office. Familiarize yourself with what features each legal structure has, and adapt it to the nature of your business. Select a company secretary Having a local company secretary will make it easier for you to establish your company. This is your main contact person when Hong Kong authorities want important information about your business. This role is crucial for your company, because they must be able to comply with the authorities without fail. Don't forget to include the company address, so that it is easy for government departments to reach you and send you correspondence. Prepare the incorporation documents The documents are subject to approval before you can start your business. You need to prepare the NNC1 Incorporation Form provided by the Companies Registry of Hong Kong, A copy of HK ID card or passport of a director and shareholder, and Article of Association of the Company. Submit all of them to the Companies Registry, by using e-Registry's online portal platform, mailing your documents, or going to the Company Registry and submitting the documents in person. After submitting these documents, you need to pay the applicable government fee, which can be paid on a yearly basis.   If you feel overwhelmed with establishing a company in Hong Kong, and need an agency to take care of everything, SMEBrother is your solution. SMEBrother has been providing business services for SME companies since 2012, and will help with all your business needs like a brother. We know that SME business is difficult, but with our knowledge, years of network, and reasonable pricing, we can support our clients and become your business brothers. All business services starting from auditing services, opening a Hong Kong company, accounting, auditing, opening a Hong Kong bank account, tax issues, and anything you need to run your business smoothly from the start until your business grows.

Before you start a business in a country, especially if you are a foreigner who wants to try to take advantage of opportunities in another country, you need to learn about the challenges and benefits in that country. Especially for those of you who are doing business in Hong Kong, we have prepared several things you need to know. Business owners must understand why Hong Kong is considered as one of the best places to run a business. Apart from friendly policies, Hong Kong also offers free trade, easy market access, and increased access to labor. Let's learn about all this. Benefits of doing business in Hong Kong Why do we discuss the benefits of doing business in Hong Kong rather than the challenges? Because the benefits outweigh the challenges, and is ideal for small and medium-sized businesses. Let's see what are the benefits of opening a business in Hong Kong. Low operational cost Companies in Hong Kong are proven to spend significantly less than other countries. There are many favorable laws for new businesses so that Hong Kong is a flexible place to start a business. Limited Company and Unlimited Company in Hong Kong For example, the company income tax rate is 8.25% for profits up to HK$2 million, and 16.5% for profits more than HK$2 million. The taxation will not erode much income because the country offers significantly lesser tax rates. Large and growing economy Hong Kong is one of the largest economies in the People's Republic of China. This will outweigh the challenges of doing business in Hong Kong, because this region is energetic, and with economic development at a steady rate of 2-6% per year. The Hong Kong economy opens up freedom for different types of business with free markets and trade policies to facilitate your new business. Suitable business location Hong Kong has a strategic location for other Asian markets because it is located on the Southern Coast of China. That location makes it easy for business owners to easily travel to any other major Chinese city, for example going to Beijing by high-speed train, or reach nearby countries like Japan, Thailand, Singapore, and India. The suitable location can be used as land to gain profits in terms of trade agreements with other countries. The more connections your business has, the greater the revenue you can get. Challenges of doing business in Hong Kong Even though Hong Kong has proven to be a suitable place for small or medium-sized businesses, you must still pay attention to what challenges you might face when having a business in Hong Kong. Laws and regulations Long before you decide to open a business in Hong Kong, you should dedicate your time to learning about the laws relating to company incorporation, especially regarding hiring, paying staff, and the firm's daily operations. If you cannot follow these laws, your business could be subject to penalties and sanctions. Due to the many differences from one jurisdiction to another, you need a legal advisor to provide advice and guide you to stay on the good side of the law and whatever information you need. Opening a bank account Maybe you will be confused, why opening a bank account is more complicated than opening a business in Hong Kong. This is because Hong Kong is a country that is strict with new and existing customers regarding financial matters, to avoid money laundering and terrorism financing. Some of these documents will be needed when you want to open a bank account for your new business: Proof of registration, identity cards, travel documents, certificate of incorporation, details of the company's control structure and ownership, partnership agreement of deed, exchange of financial account information, details of business nature and method of operation. In fact, many Hong Kong banks charge high fees when you want to open an international bank account. Some small businesses can find it difficult to deal with these kinds of fees. There is also a lot of paperwork required for a single bank account. New tax laws Tax is something that every business owner needs to continue to study because there will always be changes over time. Each company needs to pay corporate and payroll taxes, and file audited financial statements to the Inland Revenue Department. If a business fails to comply with the tax regulations, it will get penalties and have difficulty opening a new business. There are many things you need to do for taxes, or what can be called tax treatment. You need to make tax planning, tax declaration, tax review and dispute resolution, and many others. Not many businesses can survive dealing with so many paperwork requirements for taxes and also the time to take care of it all. If you are overwhelmed by all this, you can hire a professional tax treatment to make it simpler. Who can help us when we want to open a business in Hong Kong? You already know the benefits and challenges when you open a business in Hong Kong. Now what you need to prepare is what the process is for starting a business, and which agency can help you so you can stay on the right side of the law. After you choose a company name and incorporate your firm, register the company, open a bank account, and register a business address, you can contact SMEBrother for all your legalization needs, processing documents, or if you want help with getting permission to open a business from scratch. SME Bro has been providing business services for small and medium-sized businesses for more than a decade, starting from auditing services, accounting, opening a Hong Kong bank account, tax issues handling, to opening a Hong Kong company from scratch. Whatever your needs are for successfully opening a business, up to any permits to thrive your business, you can do it with SMEBrother as your truly SME brother. You just focus on expanding your business and let us take care of the rest.

Many business owners like to open companies in Hong Kong because the company's decisions are fair and environmentally friendly. Business rules that are not too strict include changing personnel for various company positions. One of the most important personnel changes in a company is the position of director because this position holds important decisions in carrying out special business operations on behalf of the company. We must study the legal change of directors in Hong Kong, because it can be applied to all Hong Kong companies. Hong Kong allows local and foreign directors and shareholders to leave or assume their position in a company. Companies in Hong Kong are allowed to change their structure, such as changing personnel such as directors or company secretaries whenever they need or according to their desires. Before changing a director in a Hong Kong company, there are several things that must be done. This article will discuss what is needed to change directors in Hong Kong companies. Can a director be replaced? So far we know that a director is a high position in a company and cannot be replaced. But in Hong Kong, directors can be replaced and that is legal in every Hong Kong company, as long as the requirements are met. You can look for assistance with this task by taking care of proper steps and documents needed for new directors. If everything is ready, the process will only take 1 or 2 days. Every Hong Kong company must prepare at least one person to be the company director and one person to be the company secretary. It doesn't matter if a company has many directors, long as none of them have the double position of company secretary. Reasons why directors can be replaced There are many reasons why a company must change its director. What we know is that every Hong Kong company must have at least one active director for arranging for incorporation. Changing a company's board of directors can occur as a result of necessity or voluntarily. Reasons why a company must replace its directors are resignation, death, removal, or other circumstances. All Hong Kong companies must act within the company incorporation laws for legal change of directors. For example, if a director resigns voluntarily, it must be with the approval of the other directors, and the company can ask the director to resign in the correct way to avoid being sacked. Every director who wants to resign must follow the terms of their contract, until they agree to resign and the company's register must quickly make the change. The second example is the removal of directors through different means. If there are directors who do not meet the legal requirements in Hong Kong, they can be removed from their position. The disqualification can be done instantly when they do not meet any of the compliance requirements. the company's shareholders can pass a resolution to remove the director as long as it does not violate any contractual agreement and legislative rule. Or the final example is a court order that can help change company directors. What is the procedure to change the director? There are two ways to change directors, namely by adding a director or removing a director. To add a director, some paperwork needs to be prepared. The form of a resolution is required to be signed by all the directors with the following information should be included such as the effective date of the change, full name, permanent addresses, and signed resolution. Highlight the situation during the legal change of directors, because we must be clear that there is no conflict between the directors and company owners so that the process runs smoothly. After the resolution is received, the notice of change of director form must be submitted within 15 days until the resolution becomes effective. All complete documents will be processed within 2 working days at the Hong Kong companies registry. The exact time to change the new director can be done during the next annual return. What are the requirements to become a company director in Hong Kong? The Hong Kong government has regulations that for every company there must be at least one director and it must be a natural person. That person may not serve as the company secretary. Directors can be local citizens or foreigners. The requirements are: the candidate must be at least 18 years old, citizen or foreigner, must have a valid passport, there is no limitation to the number of possible directors and at least one natural person, can be a corporate director or individual. Why a Notary Is Essential for Every Single Business Before legal change of directors, directors must understand specific statutory duties and responsibilities. The director must act in the best interests of the company, responsible for filing the profit tax returns and employees' returns, ensures that the company makes relevant filings and complies with all statutory laws, maintains accurate company records and carries out full accounting, monitors the company progress and achieve all set-out goals, making strategies and priorities on behalf of the company. Some of the documents required for a Hong Kong company's change of director are: Letter of consent of new director, a signed director's resolution, resignation letter if necessary, change of director date, death certificate if the previous director died, full name of director which is the same as in their passport, permanent address of new director, identity card or information page of international passport. Who can help with Legal change of directors in Hong Kong? SMEBrother is the right place to help you with structural changes in the company. We will provide you with company incorporation services, one of which is changing directors for any reason. SMEBrother can handle all documentation and company registrations, to ensure that your company's needs comply with Hong Kong laws and we do it as quickly as possible. Our experience is sufficient to handle your change of director processes and other company needs in accordance with Hong Kong law. If you want to learn more about the services we can provide for your business, please contact us.

Every organization needs leadership training to prepare its employees to be ready if one day they are chosen to become supervisors or managers. Even though they don't get a certain position, at least they can retain a lot of leadership skills that they can use in their lives. To build a leadership spirit in employees, you need to carry out leadership activities and do them regularly in the office. The activities include games, training, and challenges for employee development and building team spirit. We have summarized the best exercises to help employees have leadership training, hone their leadership skills, and become good leaders. What are leadership games? Leadership games are activities and challenges that are fun but effective to help players hone leadership essential skills and improve their leadership knowledge. Becoming a good leader requires a lot of practice, theoretical knowledge and also in real-world scenarios. Sometimes learning about leadership will feel easy when we read books or listen to it from mentors, but it will be difficult if we do it in a work environment. With leadership games, employees can learn a lot about leadership in fun ways. How do you make leadership training fun? Creating leadership activities in fun ways is good to make it easier for employees to carry out and absorb important information. But you must be able to ensure that the activity is effective, your team is enthusiastic when doing something fun. The most essential thing before doing leadership games or activities is to know your objectives. You must understand what you want to achieve, what learning outcomes you want your team to gain from the activities. You need to measure the progress and feedback, align the game with your leadership development strategy. Having clear objectives can help employees to focus on the game and ensure they understand what they are learning. 15 Best Management Games to Play at Work To keep the activities fun while learning, you need to choose the right format. For example, some leadership games will be more exciting if played outside rather than in the office. You can set a special time for some activities such as weekends or work anniversaries. Ensuring employees carry out activities with enjoyment is the key to making leadership training fun. 12 fun leadership activities for workplaces Having leadership activities can increase productivity both in participants' personal lives and at work. Below are training and challenges ideas for improving employees' leadership skills. Flipping a rug over This game is a challenge for teams to flip a rug over without having to leave the rug's boundaries. Perform the challenge by dividing the group into smaller groups. Prepare a rug, mat, or sheet according to the number of participants in a team. After all participants stand on their rug, ask the groups to flip over the rug to the opposite side, but if one member leaves the rug, then one team dies. The first team to successfully flip the rug over wins. This team challenge aims to teach patience, problem-solving skills, and teamwork. Crossing the crocodile river This fun activity requires focus, high level of balance, teamwork, and strategic planning. Each participant will learn to express their opinion to the team as a form of leadership. Play this game outside the office, find objects that can imitate a stepping stone like paper, small pieces of plywood, or discs. Provide the stepping stones depending on the number of players. Mark out two lines to indicate the start and the end of the river. The goal is using stepping stones to cross the river without leaving any player behind. Time will be counted once a player steps stone, touches the river, od goes out of the boundaries. If one of the participants touches the river, then one team will start again. Icebreaker trivia Icebreaker is a great idea for fun leadership games for almost any event. Ask your team a lot of icebreaker questions like "which leader is your role model?" "What quote do you always remember?" "If you were asked to choose one superpower, what would you choose and why?" The team members will take turns answering the questions. It will be good if all participants provide their answers, and after everyone has finished submitting their answers, whoever can name more than 5 answers from their friends will get a prize. This will teach employees to actively listen, observe, while respecting others for differences in answers and opinions. 30 seconds experience This is a short fun activity before you start meetings or events. Each team member will convey their happy experience or best experience in life in just 30 seconds. Other team members must be able to understand what their friends are saying, and find out why the experience means a lot to the narrator. The 30 seconds experience teaches employees to summarize a story and convey it directly and clearly, while learning about time management and being productive in a short time. Debate Debate is a leadership training activity that helps employees communicate with one another. Divide the team into two or more groups. Each debate topic will be carried out by two groups against each other. The leader of the group chooses to be pro or con on the debate topic. You can choose the topic about work-related or non-work related. Give the groups several minutes to have a private discussion to prepare possible arguments. Set the time limit for each group to present their argument. After the time runs out, other groups will defend their arguments or come up with new arguments. The debaters will keep rotating to speak until the final time runs out. Silver lining This activity promotes the motivation and the leadership skills of positivity. Break the participants into two groups and explain that they are doing a project together. The first group will talk about the negative experience they had on a particular project, while the other group will talk about the positive aspects of the same project. If they take turns conveying their aspects, the two groups swap roles to convey the positive and negative aspects of the other project. This activity will teach about motivating their team members, and team bonding. It’s our ideas Make several groups with each group containing employees from different departments. Each employee in the group needs to write down what activities they want to do for self or team development. Collect papers from the group, and choose the 2 best activities from the ideas written down. Give each group time to convey their ideas and why their group chose that. This activity teaches how to choose the best ideas from the team and if one team can do it without problems. It is hoped that each group will carry out according to what they wrote for their development. Marathon eating challenge Prepare some food and drinks and arrange them on the table. Each group contains 4 or five people. Make sure the food and drinks you prepare are different in type and taste. For example, you can put the first table with sweet foods, the second table with savory foods, the third table with can foods, etc. Each group member must finish the food in front of him before other team members can start eating their food or drinking their drinks in sequence. Each team has 5 minutes to determine who eats what. The team with the fastest time is entitled to a prize. Complimenting team members This is a fun activity because it gives each employee the opportunity to convey the good work of their coworkers and their strengths. Each employee is required to convey one or more strengths to the person in front of them. Do this alternately until each employee has complimented all of the coworkers. Defend the ducklings Break employees into several groups, gather all groups in one place. Each group will line up, holding their friends' hips in front of them. The leading person is the mother duck, and is tasked with protecting their ducklings. The game is simple, each mother duck can take ducklings from other groups, but can only take those at the very back. Continue the game until a large line is formed. Give a time limit of 10 minutes, and the group with the most ducklings is the winner. Complete the sentences This activity teaches teams active listening, concentration, and the ability to remember information. All employees sit in a circle. Starting with one employee who starts a sentence with one word, followed by another word from the person next to him. If one of the members forgets the order of the words in the sentence, then go back to the first person. To be fair between one another, the first person must change position randomly after successfully saying the sentence. Leadership retreat Every leader also needs time to relax and take a break from leadership pressures. Give free time to leaders and employees to boost their morale. Invite employees to have dinner, karaoke night, or any activity funded by the office outside of work matters. After giving free time to leaders and employees, assign them to make the next full schedule and re-address their next challenges.   Leadership skills can be obtained by every employee by training and carrying out activities to boost individual or team skills. Every leadership game and activity can be done in a fun way but still has to be effective. By improving leadership skills, it is hoped that employees can increase their productivity, prepare to be good leaders, and boost their morale. That's all about fun leadership activities. If you want other information on leadership skills or progressing your business, visit the SMEbrother site. We prepare various information about finance, licensing, and tips to advance your business.

There are many kinds of different companies, other than what they sell or produce, the company is also divided based on its ownership and the type of its company shareholder liabilities. In many parts of the world, a private company, and sometimes a state company is divided into Limited Company and Unlimited Company. What are their differences, and what is the definition for each of them? In this article, we will show you the definition of both Limited company and Unlimited Company alongside their differences, and how you set up a company in Hong Kong. We will take Hong Kong as an example of how you should set up a company in Hong Kong, especially for both Limited and Unlimited companies.  What Is The Definition of Limited Company and Unlimited Company? Most of the time, the differences between a Limited Company and Unlimited Company lie in the position of their shareholder, alongside their liability and obligations to the company. Some of us might have heard about the Limited Company because it is one of the most popular types, however, it might be quite rare to find or hear about the Unlimited Company. Top Business Survival Tips in 2023 The Limited Company is a company model where its shareholders aren’t responsible and are liable for the company's debts, or obligations. Meaning that any debts or obligations owed by the company aren’t the responsibilities of their shareholders. However, the company itself is still liable for every obligation and debt that it owes from third-party contracts.  As for the Unlimited Company, The unlimited company shareholders have unlimited liability, meaning that shareholders are responsible for every debt, liability, and obligation of the company, even when the company when bankrupt and cannot pay. The nature and responsibilities of the shareholders are determined based on the company’s constitution. The Differences between Limited Company and Unlimited Company From the point of view of the shareholders themselves, we can see the difference here. One of the key differences is in the shareholder position and liabilities. Normally, unlimited company shareholders have more power, but at the cost of more liabilities and responsibilities, whereas the limited company shareholders have less power, but they don’t have many obligations and liabilities from their company. Here are key differences between Limited and Unlimited Companies, especially for privately owned companies. Minimum Capital requirement – For both private limited and unlimited companies, there has no minimum capital requirement to become shareholders, but for Public limited companies, there will be a minimum capital requirement. Limited liability for their shareholders – Private limited company will have limited liability and obligations for its shareholders, whereas an unlimited company has unlimited liability for its shareholder.  Needing Publishing account – For the limited company, they will need a publishing account, but for the private unlimited company, usually, they won’t need it. Several maximum shareholders, and directors – Both Limited and Unlimited Company have their maximum number of directors with a minimum of one, and the shareholders also minimum of one shareholder.

香港作為國際的金融中心，世界各地的企業紛紛入駐，同時它也是內地企業進行出口貿易的重要港口。 內地的企業如果想要真正的能在世界市場中立足和壯大，在香港成立公司無疑便是各大企業的一大契機。 註冊一家香港公司，不僅僅是在實地經營中可以獲取利益，並且在開設離岸賬戶，最終實現一個返程的投資回報上，都能對傾向於出海的企業有十分大的幫助。 今天為大家分析，註冊香港公司到底有些什麽優勢。 設立一家香港公司優勢眾多： 1、擁有健全的法律體系； 2、香港知名度高，易獲國際信用； 3、擁有多元化的融資管道； 4、無外匯管制，資金進出自由； 5、經營範圍不受限制； 6、稅制簡單、稅率低； 7、每年只需申報一次利得稅；  一、優良的營商環境 01簡單稅制及低稅率 香港公司運營簡單，稅種較少、稅率較低。 每年僅需做一次年審和做賬報稅，不需要像內地公司，每月都要做賬報稅（國際上有許多機構利用香港的稅務優勢合理約稅）。 而且香港沒有預扣稅、增值稅及資產增值稅。奉行地域來源征稅原則, 海外收入可申請豁免。  02註冊香港公司無行業限制 香港可以經營任何合法業務，基本不受限制，這一點有助於後期公司的業務、產品的開拓，且不至於因為行業限制而讓公司發展受到阻礙。 03香港是全球最自由的商貿港口，物流進出自由 一般貨物進出不征關稅；香港資金進出自由，各種外幣可以隨時兌換調動；對於貿易公司尤為重要，香港公司的資金自由度很高，可以自由兌換。 而且，非香港戶籍人士，只需註冊香港公司，就可以開設外幣賬戶銀行帳戶。 04利用香港知名度創立品牌，提升公司國際形象 如果是珠寶類、醫藥類、電子等香港的優勢產業，可以利用香港的優勢行業作為其品牌推廣的助推器。 05香港是內地企業走向國際的最佳跳板 通過香港“走出去”成為內地企業開拓國際市場的最佳途徑。 無論是香港政府還是內地政府都鼓勵內地企業通過香港積極的“走出去”，充分發揮香港的優勢，更快更好的走上國際市場。 06香港公司是屬地征稅 香港以屬地為征收稅項的基礎，只對來自香港的利潤及收入進行征稅。  二、香港公司註冊環境自由 01公司起名自由 不論公司註冊資金大小，香港政府都允許公司名稱含有國際、集團、控股、實業、投資、學院、協會、基金會、研究所等字眼；公司名稱前面還可以加上自己喜歡的國家或地區名字，其經營範圍卻極少限制。 專家提醒，公司取名雖自由，但需要註意以下幾點： （1）公司名字不宜太長，一般銀行都有字數限制，比如“匯豐銀行”有30個字母的限制，超過三十個字，客戶打款時容易由於名字輸不完整，被退票。 （2）公司名字可以只取中文名字，英文名字，不能一個中文名字里含有英文字母。也不能英文名字里有中文漢字，因為政府規定了這是不行的。 （3）公司名字結尾中文必需是：有限公司，英文必需是：LIMITED。 （4）COMPANY，可簡寫成CO.，如果名字太長，可不寫。 02註冊流程簡易快捷 註冊流程其實很簡單：委托書→簽署協議→交付定金→簽署法定文件→到政府各部門辦理手續、8-12個工作日支付余款可獲整套資料。 在註冊香港公司時，最低的註冊資本只需要10000港元，並且可以根據實際情況來提高註冊資本，但到位的資金無限制。 03每年只用申報一次利得稅 香港公司每年只需要申報一次利得稅，不用每月每季度申報，方便簡單。 此外，香港還擁有健全的法律和會計體系，香港投資及創業情況旺盛也就不難理解了。   香港是一個著名的融資平台、不管是民間借貸、政府扶持、銀行放款、上市融資以及國際財團風險投資應有盡有。  投資者可以充分利用香港金融產品，銀行資源，通過香港公司進行一定程度上的資本運作。 在香港開公司優勢還有很多，更多詳情請聯系我們！

The COVID-19 pandemic might be slowing down, and governments all around the world are slowly planning on returning to something similar to the “normality” in the past. As the first country to feel the impact from the pandemic, China is also rising back to its former glory. BBC.com reports that China has reported an economic growth of 18.3% in the first quarter of 2021. Hence, new businesses were created, and job opportunities are advertised for new recruits. The post-pandemic world also presents a new opportunity for new entrepreneurs. During the lockdown, e-commerce and digital marketing grew significantly. Online sales grew by 3% during the first two months of the pandemic, and it surely will not stop. If you are looking to start a new business in China, creating an online platform would be a perfect place for you, considering that it could also reach a wider range of audience. Plus side is: it won’t even bother your main job! You could just consider it as a side business if you are hesitant in leaving your main income. Starting A New Business: Now (or never?) Now let’s get back to the topic. Online sales or not, starting a new business in China is a pretty good opportunity, and one that you can’t afford to miss. Even before the pandemic, owning your own business is definitely a risk that will pay off with high rewards if you play your cards right. Perhaps, you would wonder: why now? Is it really the right time, considering that the economics are still in recovery? Well, we are here to explain why now, more than ever, would be the perfect time to open a company in China!   Interest rates at a low point Business climate in China and everywhere has definitely changed since the pandemic. New businesses are emerging in China after the lockdown. And if you are wondering ways to get a business loan in China, then worry not! Interest rates have been lowered as a result of COVID-19, and it’s probably best for you to seize this opportunity to invest in your business.   Cheap, cheap, and cheaper In this digital world, your business won’t be successful without the help of services such as Canva, Zoho, and other tools you need. Fortunately, due to the impact COVID-19 has on the economy, vendors need to activate their survival mode and offer a lower price for their services. With the promotional prices and discounts all flooding the market, what better time to be doing a business here in China right?   Digital world: a world for everyone One of the positives to be taken out of the pandemic is the increased networking via digital channels. As a result, it’s so easy to find talents you will need for your business to grow. Most of the workers out there are currently looking for a new shift and job opportunities. Before big time companies such as Google and Apple, who are aggressively hunting for fresh faces snatch them, you best bet that now would be the perfect time to hunt down quality workers. Can’t afford to pay them on a monthly basis? Worry not, as there are so many freelancers out there that could suit your criteria! Time for You to Step Up Another positive to be taken from the ever-growing world of digital platforms is the opportunity it presents for you to compete with big time players out there. With ideas and creativity, it’s not an impossible task to be David and beat Goliath. But those things alone are not enough, as there are a lot of Goliaths you will be facing out there. You will need strategic planning, as well as careful considerations to execute your mission in order to be the best and beat out other businesses in China. There are a lot of ways to build and plan out your mission, but here are some of the basics you will need to know in order to really get you company going:   What’s your passion? It may seem simple, but it could be really essential. Here’s why: building a business based on something you like would definitely reduce the burden of “working” on your mind, as you are doing something you are passionate for. To start a business, you will need to do some background research. It will certainly require less time to research when you do something you like. The period of time you saved can be used for you to fasten up the launch of your business   What’s happening out there? Unfortunately, there’s a possibility that your passion doesn’t align with the trend. Don’t sleep on this fact, and make sure to study China’s business market. It would be a waste of time to build a cool company that attracts no interest. You could also check out the top 10 industries in China, and use them for your reference in starting your own. One more thing: try to think of what your potential customer needs now rather than what they needed before during the COVID-19 pandemic.   Planning and execution A good plan will help guide you to the right path. To make it right, you will need to answer some questions, such as: -          What’s the cost of doing business in China? -          How many tools will I need to help develop my business? -          What kind of marketing strategy I needed to use, and which platform to use it for? Hopefully, those questions will be able to help you in mapping out your business strategy. You could also search out other companies and learn how they are doing their business in China. Business in China for foreigners: doable? Starting your own business is a very interesting opportunity for everyone, including foreigners. In fact, what better way to make a living by being your own boss? The Chinese government allows foreigners to start their own company. In fact, they could own a wholly foreign-owned enterprise, or WFOE. Other alternatives would be to open a joint venture and do business with Chinese companies. Either way, it’s a very exciting prospect. Still unconvinced that doing business in China as a foreigner is a huge opportunity? Try to search for the list of foreign companies in China, and you will find a huge number of it. By the end of 2019, there were a total of 179,268 companies with foreign direct investment in Guangdong alone, and the list will keep on getting bigger as time goes by. Here are some of the top foreign companies you could find in China: -          The Daimler Group -          GE (General Electric) -          Walmart -          Microsoft -          Honda -          Casio -          Fujifilm Mind the Culture! As a foreigner, it is important for you to learn and adapt to the local culture. It will proof to be beneficial, and helps you to understand people in your environment. The same thing goes for business reasons. You wouldn’t want your business going down in flames just because of a clumsy misunderstanding with others, right? Besides the local Chinese culture, you will need to understand the business culture here in order to avoid any errors. We have listed down some of the basic cultural knowledge that you could note down.   Discipline The Chinese held on to a strict discipline. They really value punctuality, and working hours are usually 8.00 am to 5.00 pm, Monday to Friday. They have two hours break within that period, and work stops during the time to eat, nap, or refresh yourself. However, sticking to an end of a schedule is not a common thing, as the end of an appointment is rarely scheduled. Chinese people also held a strict hierarchy. During a meeting, people who enter the room first are the one with the highest rank.   Conversation Chinese people liked to have small talks at the beginning of the meeting. Popular topics to begin a conversation are: art, landmarks, climate, or travelling experience. However, avoid political-related discussion at all costs. They would also appreciate it if you learned and used a couple of sentences in Chinese.   Numbers Numbers play a huge part in Chinese business culture as well. As part of their beliefs, some number hold a good omen, whereas others don’t. Here are some of the examples: o   8 is the luckiest number, giving something with this number means a good gesture too o   Number 6 is often considered as a blessing for progress and smoothness o   4 is the number of death, and 73 means “funeral” How to Register a Company as a Foreigner? You may wonder this question, right? Perhaps you would worry that it will be one of the many challenges for foreign companies in China. But turns out that it is not a difficult task to do, after all. Registering a company in China is a simple task to do. Follow this task below!       Prepare all of the documents Typically, you will need to submit the documents such as: Legal ID, homecoming permit, and Shareholder ID. You will also need to provide the name address for your company, business scope, and proposed capital.   Figuring out your legal structure Before moving on, it is best for you to try and figure out the legal structure of your company. As previously mentioned, there are different types of companies owned by foreigners: WFOE, Joint venture, and Representative Office. WFOE is a company owned fully by foreigners, whereas Joint Venture is a cooperation between foreigners and Chinese partners with less restriction.   Recruit talents It’s highly advisable for you to try and recruit local workers for your staffs. They understand the local culture and market better than foreigners do. They could even provide you with suggestions to further develop your company while adapting to the local culture. To accomplish this, you will need to find a recruitment agency. They will be able to find top talents that are suitable for your needs.   Opening a bank account If you haven’t already, make sure to open a new bank account intended solely for your business purpose. WFOE is required to have a minimum of two bank accounts: an RMB basic account to help your daily operation and foreign currency capital contribution account for receiving financial injection abroad. Both of them will function are a must have for your operation, so be sure not to miss it.       Find agencies Registering a company by yourself will take a lot of your time and money. Therefore, you could use the help of agencies that specialize in this situation. We could help you to register your company! So, what’s the procedure? After making sure that you have all the documents and legal files needed, you will need to follow these steps: -          Application for name verification and registration online -          Supply information -          Waiting for review the application. It usually takes up to three working days -          Finalization completed registration -          Business license obtained and your company is a go! Sounds easy and simple, right? Just like that, you will own a legitimate international business in China. SME Brother won’t take you to a longer path in order to obtain your licenses. What are you waiting for? Go do some research for your business, and get rich by doing so!

開立基本帳戶的基本資料：