Compared to a lot of other jurisdictions, terminating or retrenching employees in Hong Kong is not such a complex matter. However, you will need to abide by the requirements set in place. Who Sets the Requirements? The guidelines for terminating or retrenching your employees in Hong Kong are set by the Hong Kong Labour Department. […]

There are many significant advantages to setting up a company in Hong Kong, especially for businesses looking to expand internationally or enter the mainland Chinese market. Here are the key benefits of setting up a company in Hong Kong: Tax advantages International business and financial environment Strategic geographical location and market springboard Legal and operational […]

Below is a list of various accounting tasks that your company can outsource.: Here are strategies your company can follow to maximize ROI with outsourced accounting services: 1. Clearly define the scope of work While the main reason for using accounting or bookkeeping outsourcing services is to maximize ROI and reduce operational costs, it is […]

Non-Hong Kong permanent residents who wish to work in Hong Kong must apply for and obtain an appropriate work visa or entry permit from the Hong Kong Immigration Department in advance. Here are the main entry schemes and requirements for foreigners to work in Hong Kong: Major work visa/entry program Foreign professionals can usually apply […]

The transfer of shares occurs when a shareholder in a company sells or gifts his/her shares to another new or existing shareholder. For Hong Kong companies, the procedures for a transfer of shares need to follow certain conditions. Reasons for Transfer of Shares A transfer of shares may occur for a variety of reasons such […]

Executing legal documents and contracts are a very common occurrence in a business. But does your Hong Kong company need a company chop or company seal to get it done? Or will a signature suffice? What Is a Company Chop? In general terms, a company chop is the company’s rubber stamp. “Chop” is a term with colonial Indian English […]

Should You Use an Electronic Signature and Digital Signature in Hong Kong? What are the requirements? Your Questions Answered Electronic signatures and digital signatures are among the multiple signature forms recognised in Hong Kong as part of the Electronic Transactions Ordinance Act (ETO). What Is The ETO? Hong Kong’s ETO recognises some of the multiple signature […]

The advancement of technology has not only reshaped the business landscape as we can imagine, but it has also opened the Pandora’s Box of data privacy in the cyber world. While data privacy remains one of the biggest concerns to many cyber users, many countries are updating their data protection laws to keep up with […]

An annual general meeting (“AGM”), as the name implies, is a statutory requirement where a company’s directors or shareholders will gather in this mandatory yearly meeting to discuss the company’s financial report, business performance or strategy. Just like many other jurisdictions, a Hong Kong company must hold the AGM on a yearly basis. The new […]

Hong Kong’s Accounting Standards are the rules which govern the handling of financial transactions in the country. As of January 2005, Hong Kong abides by the Financial Reporting Standards (FRS) framework, which follows the International Financial Reporting Standards (IFRS) model. Basically, this framework is under the International Accounting Standards Board (IASB). The accounting standards in […]