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Frequently Asked Questions - Annual Maintenance, HK Company

 

What's the annual fees payment?

What if the annual fees are not paid?

Should the accounts of the company be audited?

Basic requirements of a company or corporation

What if the name of a company or corporation be changed?

What if the director of a company or corporation be changed?

What if the shareholder of a company or corporation be changed?

What if the company be required to be closed?

What if client would like to change the agent with us?

What if the company requires other services?

Frequently Asked Questions - Incorporation Matters, HK Private Limited Company

Frequently Asked Questions - Annual Maintenance, HK Private Limited Company


What's the annual fees payment?

Client after incorporating the company is required to pay annual fees to maintain the incorporated company or corporation. The time of payment may vary according to the date of incorporation of the company. An notice of payment or invoice will be issued before the payment deadline.

What if the annual fees are not paid?

For a Hong Kong private limited company, non-payments of annual fees may lead to professioanl services termination and government penalties been levied. Every officers in the company may be subject to a fine. Disqualification Order may be issued for persistent non-compliance of the officer(s).


Should the accounts of the company be audited?

A Hong Kong private limited company is required to have the annual accounts to be audited by Hong Kong Certified Public Accountants (Practising). Even though the company's business(es) is/are not touching Hong Kong. The successful claim the offshore profits as non-assessable in Hong Kong Profits Tax is subject to the assessment.

Basic requirements of a company

Hong Kong: Maintain at least ONE director/member in the private limited company (for company incorporated before 13/Feb/2004 without amending M&As to cope with new Ordinance, at least TWO directors/members), Maintain at least ONE resident company secretary, Maintain Hong Kong Registered Office address, Appoint ONE auditor who practises in Hong Kong, Paid annual fees, Update records with us, Hold a shareholder's Annual General Meeting, File annual return annually, File profits tax and employer return annually, and present annual audited accounts to shareholder(s) for adoptionBoard Resolutions to appoint/re-elect directors annually.

What if the name of a company be changed?

A company name could be changed. If required, please send us information and we will assist in the matter for preparation of documents, re-print M&As and preparation of chops and seal. Upon the change of the company, a Certifcate of Incorporation on the Change of Name will be issued. If the company is having corporate bank account(s), it is required to update with the bank.

What if the director of a company be changed?

If required, please send us information and we will assist in the matter for preparation of documents for signatures and filing of the signed documents. If the company is having corporate bank account(s), it is required to update with the bank for change of bank signatory, if appropriate.

What if the shareholder of a company be changed?

There are normally two approaches, one is by share allotment and one is by share transfer. Share allotment is normally be used if there are remaining non-issued shares which after issueance is not exceeding the authorised share capital, otherwise, a share transfer may be appropriate (provided that it is not going to increase the authorised share capital). Share transfer in a Hong Kong private limited company is required to be stamped after the assessment of the stamp duty payable.


What if the company be required to be closed?

A Hong Kong private limited company may apply for de-registration (if the company is dormant or ceases businesses within 3 months immediately before the application, all members agree and no liabilities), otherwise, it is required to be liquidated at a higher costs.


What if client would like to change the company secretary with us?

For Hong Kong company, you may appoint us as the company secretary of the company. Upon receipt of your written instructions, we will contact the ex-serviced agent on the handover of statutory records. Documents checking fee per year (maximum charged for 4 years, if the company is incorporated over 4 years) is required in addition to the normal services fee. In addition, the company is required to provide passport / identification documents and residential address proof within 3 months for the change.


What if the company requires other services?

If client(s) requires other services in relation to the incorporated company via us, please feel free to contact us for assistance.



Our aim is to provide a comprehensive service to our clients in Hong Kong and offshore operations. If you find above helpful, please free to contact us.

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