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Hong Kong Company Followup Services

Updated:2018-5-21 16:52:48    Source:www.tannet-group.comViews:389

Hong Kong company followup services include bank account opening, annual return, tax filing, accounting and auditing, company modification (including change of company name, shareholder/director, registered address, etc), company cancellation and company recovery. With 18 years of development, Tannet is equipped with groups of professionals who will definitely assist you in handling those matters.

Bank Account Opening
Hong Kong bank account opening is not that easy as before. However, we still have successful cases in this regard. Before you can open an account with a particular bank, it is important to be aware of what your banking needs are, so that you can match those needs with what each bank offers.

General requirements on bank account opening in HK:
1. Basic information of the HK company (relevant materials need to be notarized);
2. Shareholders/directors’ address proof;
3. Business plan;
4. Business proof (for the NewCo, the financial proof of the associated companies is also acceptable, such as purchase invoice, business orders, financial statement, etc).

Processing Time: 2-3 months.

Annual Return/ Annual Renewal
An Annual Return is a return, in a specified form, containing the particulars of the company such as the address of the registered office, shareholders, directors, secretary, etc. As per Hong Kong company law, every company formed in Hong Kong, must file a Tax Return (it’s also called Profits Tax Return in Hong Kong) along with its audited accounts on an annual basis with the Inland Revenue Department of Hong Kong (“IRD”). For the newly incorporated companies, the notification is generally sent on the 18th month of the incorporation date. Companies must file their Tax Return within one month from the date of notification. Companies can request for an extension, if needed. (Note: You may incur a payment of penalty or even prosecution, if you fail to submit your tax return by the due date.)

Processing Time: 5-7 working days.

Tax Filing
Individuals Tax Returns for 2016/17 have been issued on 2 May 2017. Taxpayers are required to complete and send the tax return back to the Inland Revenue Department (IRD) within 1 month from the date of issue of the return (i.e. on or before 2 June 2017). For sole-proprietors of unincorporated businesses, the deadline for submission is extended to 2 August 2017. An extension of 1 month will be given automatically if the return is filed electronically.

Consequences of not filing tax return on time is as follows:
If you do not file your tax return on time, you may be required to pay a penalty, or even prosecuted. A further possible consequence is that you may be required to pay more tax. This is because without your furnishing the relevant details, the Assessor will issue an estimated assessment and demand for tax without granting your allowance entitlements and deductions in respect of contributions to Mandatory Provident Funds, approved charitable donations, expenses of self-education and home loan interest etc.

Company Modification
(1) Chang of business name
If you have changed your business name, you should notify the Business Registration Office within 1 month of the change. The business registration number, original and new business name, business address and the date of change should be clearly stated. Alternatively, you may furnish the details on the form IRC 3110A.

(2) Change of business address
If your business address has changed, you should notify the Business Registration Office in writing within 1 month of the change. In your notification, you should state your business registration number, business name, old and new business address and the date of change. Alternatively, you may furnish the details on the form IRC 3111A.

(3) Change in nature of business
You should notify the Business Registration Office in writing of any change in the nature of your business within 1 month of the change. The business registration number, name, address, details and date of the change should be stated. Alternatively, you may furnish the details on the form IRBR 193.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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