Get a comparative overview of the three common Hong Kong business structures - the subsidiary company, branch office and representative office. About Fixed Income. Since the business is not an incorporated entity, there is no separate legal identity. The Inland Revenue Department will issue a demand notice for the renewal of the Business Registration Certificate one month before its expiry date, depending on whether the Certificate is valid for one year or three years. You place an order with Kaizen for the registration of sole proprietorship … Tag: sole proprietorship More Topics: New/Unread - Last Day - Last 7 Days Search: Search took 0.00 seconds. Unlike a private limited company, a sole proprietorship does not offer protection of personal assets and limited liability to its owner. Hong Kong businesses registration, sole owners, sole proprietorship, unlimited liability, personal liability, hong kong business licence 1. Business registration applies to every business in Hong Kong. 1. A sole proprietorship is not a separate legal entity – it’s considered an extension of the owner. He gets all the profits of the … For instance, you require a business license for operating the following types of businesses: restaurants, educational institutes, travel agencies, financial services, import/export, etc. Sole proprietorships in Hong Kong differ from Private Limited Companies in Hong Kong because with sole proprietorship Hong Kong, there is no protection when it comes to your personal assets and … Since there is less scope of satisfying these conditions under the sole proprietorship business structure, the chances of the Investment Visa approval for sole proprietors are usually low. In order to register a sole proprietorship business in Hong Kong, the following documents/information are required. 310 of the Laws of Hong Kong) requires every person who runs a business in Hong Kong, whether it is a sole proprietorship, partnership or limited company, to … This site uses cookies to offer you a better browsing experience. Once you are done with the other necessary compliance requirements for a sole proprietorship registration, the next step is to fill out a sole proprietorship tax on an annual basis. Typically, these are the types of entity in Hong Kong: 1. Planning to open up a new company as a sole proprietorship in Hong Kong and not sure about the process for sole proprietorship registration? An important consideration is that the sole … The remainder profit is payable of 16.5 percent and 15 percent for corporations and unincorporated businesses, respectively. However, the main disadvantage is the personal liability exposure of the sole proprietor and a perception of a small business among clients and suppliers. Registration can be done within a day’s time, with minimal documentation and formalities. 1. ACCOUNT OPENING IN HONG KONG Page 2/4 - SOLE PROPRIETORSHIP ESTABLISHED IN HONG KONG HK-SOP-HK 517R28E-m (220819) I F. Information Required from ALL Beneficial Owners/Sole Proprietor … The name should not suggest a connection with the Government or any public body when no such connection exists or has existed. For Hong Kong residents- Copy of Hong Kong identity card. Registration of Sole Proprietorship Business in Hong Kong. Here are some things you need to take care of while doing sole proprietorship registration in Hong Kong. Before registering your business entity as a sole proprietorship in Hong Kong, you need to know about some key facts about registration. The role of age structure in a welfare state," Arbetsrapport 2003:4, Institute for … On the other side, if the sole proprietorship businesses gross income exceeds the value of HKD 500,000, then they have to submit the following documents along with their tax return to the Inland Revenue Department: So, if you have plans and are ready to start a new business in Hong Kong as a sole proprietorship, then contact us today! Registration of the sole proprietorship and obtaining the Business Registration Certificate can be completed within 1 day, provided all the documents are found to be in order and there no objections against the chosen business name. The professional services firm you choose will guide you on choosing an appropriate bank depending on your requirements and provide you with the necessary information. The firm you have engaged to aid in your business registration can advise and assist you on the business licensing requirement and procedure. If you carry on more than one business, you should apply for a Business Registration Certificate for each of the businesses. Because the business uses your individual tax code, you don’t need to register as a business. Growth under a sole proprietorship is limited and there may be sole proprietors who are interested in converting to a limited liability company in Hong Kong.However, a sole proprietorship and a limited company are different types of business … One of the eligibility criteria under the Investment Visa is … Before registering your business entity as a sole proprietorship in Hong Kong, you need to know about some key facts about registration. Selected business names are not allowed to use the limited terms related to the public limited company, abbreviations of limited (Ltd) and limited liability partnership (LLP) in their business name. There is no legal separation between the owner and the company. Hong Kong Branch (incorporated in Singapore with limited liability) GENERAL REQUISITE DOCUMENTS FOR ESTABLISHING BANKING RELATIONSHIP WITH UOB HONG KONG BRANCH - PARTNERSHIP, SOLE PROPRIETORSHIP, JOINT VENTURE & ANY OTHER UNINCORPORATED BODY - A. Residential Address history - last 3 years 2. Start your new Hong Kong company & Open a bank account, ALL ONLINE! A tax computation indicating how the amount of assessable of profits (or adjusted losses) has been arrived at. Profits tax rate in Hong Kong of first 2 million HKD is 8.25 percent for corporates and 7.5 percent for unincorporated businesses (i.e sole proprietorships or partnerships). Businesses other than corporation (e.g. If you are still looking for more information on the business registration licenses, then refer to Startupr that will assist you with the business licensing requirements and procedure. You should report the profits / loss of all your sole proprietorship businesses in Part 5 of your Tax Return - Individuals (BIR60). Documents required from Sole Proprietor, ALL Authorised Signatories, ALL Beneficial Owners, two Key Controllers and ALL Direct Appointees: - Identification Document - Former Name/Alias Proof ( If there is a former name/alias ) - Nationality Proof e.g. Business carried on by Sole-proprietorship, Partnership (other than limited partnership fund) and Unincorporated body of persons, Non-Hong Kong company, and Branch business Within one month from its date of commencement of business. Sole proprietorships in Hong Kong differ from Private Limited Companies in Hong Kong because with sole proprietorship Hong Kong, there is no protection when … Sole Proprietorship is one of the 2 unincorporated entities for business in Hong Kong (another is Partnership), which mean Sole Proprietorship is not a separated legal entity from the owner, it explains … In addition, a sole proprietorship in Hong Kong allows the owner to even pass down the business to any heir/s. Once you have registered your business with the Inland Revenue Department, you may also require a business license before you can actually start your business operations, depending on the nature of your proposed business activities. Learn the difference between Hong Kong entities. and that you will be able to make a significant contribution in the specific market that you are entering into. But depending on your field you may need a license – such as a food and liquor license, or an admission to practice law. 364 firms, are sole proprietorships. An important consideration is that the sole trader is not a separate legal entity from the founder and thus the investor is liable with his/her personal assets. For Foreign investors- Copy of passport and latest overseas residential address proof of both shareholders and directors. Planning of register a sole proprietorship in Hong Kong? Sole proprietors who operate a sole proprietorship are only required to apply for a business license from the Hong Kong Business Registration Office Efficiency in Decision Making A sole proprietor is responsible for all aspects of a sole proprietorship , as such there is no need to discuss any business decisions with … Hi, Currently I am employed on a work (GEP) visa. This is one of the most significant parts of opening up a business entity. The sole proprietorship in Hong Kong The sole proprietorship can be a suitable business type for those entrepreneurs who want to start their own business with low costs. Sole Proprietorship The status of sole trader is widely used in Mauritius, and is governed by the Code de Commerce. Only Hong Kong residents can register sole-proprietorship and parthership in Hong Kong, so Hong Kong Limited Company is the only optional for expats. In order to incorporate sole proprietorship in Hong Kong, you need to register with the Inland Revenue Department’s Business Registration Office. ... Hong Kong … You place an order with Kaizen for the registration of sole proprietorship with payment of fees; 2. Startupr is here for you. Business Registration must be done within one month from the date of commencement of business. So, from my understanding the next step would be to open my Sole Proprietorship … Its advantages and disadvantages are listed here by Asia Business … Generally, a newly registered business will receive (from IRD) its first tax return filing notification 18 months after the date of registration. The positions of such entities under the licensing regime are set out as follows:- 6. For more information on business licenses, refer to Business Licenses in Hong Kong. Incorporation Certificate of the company. How To Choose Between A Hong Kong LLC, Sole Proprietorship or Limited Partnership Posted by inhongkong Admin on April 22, 2019 Choosing a structure for your business in Hong Kong can determine a lot of things, such as how you will be taxed, whether or not you will be exposed to lawsuits, public perception of your … Read explanations and guides from Osome experts on how Sole Proprietorship works and everything entrepreneurs need to know about it. For a Chinese name, you may include English alphabets, but not English words. sole proprietorship or partnership businesses) must make their applications within one month of business commencement. Correspondence Address (if … So, from my understanding the next step would be to open my Sole Proprietorship … When you engage Kaizen to register your sole proprietorship business, please follow the procedures described below. The name should neither infringe on trademarks nor be offensive or otherwise contrary to public interest. When you engage Kaizen to register your sole proprietorship business, please follow the procedures described below. The sole trader in Hong Kong, also known as the sole proprietorship, is a type of business entity that is suitable for small-scale businesses, essentially those managed by only one individual.Unlike other business structures in Hong Kong, the sole proprietorship does not offer protection of personal assets. (Photo: Getty Images) At the event, Meghan impressed with her chic outfit — a $643 pink silk Goat dress with a matching tilted hat — and Harry delivered a heartfelt speech honoring his father. The Hong Kong sole proprietorship The sole trader in Hong Kong, also known as the sole proprietorship, is a type of business entity that is suitable for small-scale businesses, essentially those managed by … The person runs the business on his own without sharing his business with anybody. Operated by a single owner, this entity is connected fully with its … In addition, foreigners interested in relocating to Hong Kong in order to operate their sole-proprietorship must apply for an Investment Visa. CIM Banque – Open Offshore Bank Account Online, Register your company in HONG KONG for ONLY $99 USD + Government fee, FREE Registered Office Address (Applies for Option 2 and Option 3). Sole proprietorship owners in Hong Kong need to fill in a special tax return form and declare their gross income. Passport copies ( if the individual is not a Macau or Hong Kong permanent Identity … After some studying I think a Sole Proprietorship is the way to go for me. Now that you have all the critical information about setting up the sole proprietorship in Hong Kong. We do not recommend that entrepreneurs use sole proprietorship as a form of business entity to conduct their business. As the name suggests, the business is owned and operated by a sole person. This type of company is the most desired form of business entity and there are formalities required to complete for a company to be incorporated in Hong Kong. The business name should not be offensive, nor should it contain any prescribed sensitive words including those that suggest a link with the government or of any national importance. Registration of the business with the Inland Revenue Department’s Business Registration Office, Complete application form, including proposed business name, For resident owners: Hong Kong identity card, For non-resident owners: The following is a brief outline of Hong Kong's profits tax regime: only profits sourced in Hong Kong are taxable here. 6. 1. One of the eligibility criteria under the Investment Visa is that you must prove that you will make a substantial contribution to the economy of Hong Kong by demonstrating that your business will create jobs for the local workforce, that you will utilize the services of local service providers, suppliers, manufacturers etc. The sole proprietorship is by far the most common form of business in the United States. As per Hong Kong company law, sole proprietorships formed in Hong Kong must file their profits tax return on an annual basis. For instance, in case the sole proprietorship is an educational institute, travel agency, restaurant, financial services provider or is in the business of imports and exports, you are supposed to obtain a business license for this entity. Sole proprietorships are required to register their business entity with the Inland Revenue Department of the Business Registration Office. Certified copy of the balance sheet and the accounting details about loss/ profit relating to the basis period. The name of a sole proprietorship may be registered with a Chinese name, an English name or a combination of these. So, you started off with a sole proprietorship, and now you’re thinking of taking the leap to setting up a fully-fledged Hong Kong company. Setting up a sole proprietorship in Hong Kong is simple and straight-forward: it involves a single step procedure of registering the business with the Inland Revenue Department. The Business Registration Ordinance (Cap. Mr. Park did not elect for personal … REGISTRATION OF SOLE PROPRIETORSHIP IN HONG KONG. You must also notify the IRD about the cessation of your business within 1 month of cessation. If the registered particulars of the business have changed, you must notify the Inland Revenue Department in writing within one month of the change. "Women´s Return to Work after First Birth in Sweden during 1980-2000," Arbetsrapport 2005:19, Institute for Futures Studies. A sole proprietorship business is the kind of business that is conducted by one person. General. A critical part of being a founder is... Read more. 2. Hong Kong has various business entities for doing business, we have made a comparison for you.. For people doing business in sole-proprietorship and partnership (people may refer this kind of business as “unlimited company”, an opposite of limited company), they must apply for business registration within one … Foreign residents of Hong Kong can give, a copy of the passport or identity card and while Foreign non-residents have to appoint a resident individual and submit the form IRBR177 or submit an appointment letter with the appointed person's name, Hong Kong … Find out how to register a private limited liability company in Hong Kong and the basic incorporation requirements, procedures and timeline. Any change in the registered particulars of the business, such as change of business address, change of business name or change in nature of business must be intimated to the IRD in writing within 1 month of the change. Foreigners who wish to set up a sole proprietorship in Hong Kong are advised to engage a professional services firm to act as their Hong Kong resident agent and register the business on their behalf. 310 of the Laws of Hong Kong) requires every person who runs a business in Hong Kong, whether it is a sole proprietorship, partnership or limited company, to register the business at the Inland Revenue Department within one month from the date of commencement of business, and to … 3. However, there are certain banks that do not require you to personally be present at the time of opening an account. As an unincorporated business, a sole proprietorship is subject to profits tax in exactly the same way as any other business; but the rate of tax is 15% instead of 16.5% on taxable income Hong Kong: Types of Company Sole proprietors who operate a sole proprietorship are only required to apply for a business license from the Hong Kong Business Registration Office Efficiency in Decision Making A sole proprietor is responsible for all aspects of a sole proprietorship … A sole proprietorship is a type of small-scale … There might be changes to the specifications of the company after you have incorporated it. "Swedish post-war economic development. The sole proprietorship business and the partnership business will be treated as the same business. Sole proprietorships are businesses owned and operated by a sole person. Completion Guideline on CRS Self Certification Form (Individual and Sole Proprietor) Reasons for providing Self Certification To increase tax transparency and to combat cross border tax evasion, Hong Kong Government has published Inland Revenue ... Hong Kong (China), the TIN is the Hong Kong … The owner is primarily responsible for all the elements of the business entity and is fully accountable for all the finances of the company including loans, debts, and profits/losses of the business. Instead, we recommend that they incorporate a private limited Hong Kong company. Businesses other than corporation (e.g. If you are unsure of the choice of the appropriate structure for your business, you should refer to the Hong Kong Business Structures Guide. Get an introduction to the legal personality of a Hong Kong limited liability company and learn the best way for an entrepreneur to incorporate a company. 4. Note that you are required to register your sole proprietorship in Hong Kong prior to applying for the Investment Visa. A sole proprietorship is the easiest and least expensive business structure to set up. As a result, most foreign professionals choose to incorporate a private limited company instead of a sole proprietorship. All rights reserved, Hong Kong Sole Proprietorship Registration, Find out about Hawksford incorporation services, All sole proprietorships must register with the. Sole proprietorship – For residents, a copy of the business owner's Hong Kong identity card is sufficient. The sole proprietorship in Hong Kong is easy to incorporate and does not require a substantial initial investment. However, they must prepare the accounts, complete the tax return in accordance with the accounts prepared, and retain the accounts and documents for inspection by tax authorities. 1. The Business Registration Certificate must be conspicuously displayed on the office premises at all times. Before you embark on this exciting new step in your entrepreneurial journey, there are a couple of things you need to know. 7. On the other hand, Hong Kong limited liability companies have a legal identity of their own, distinct from their members. It involves only a single step procedure for registering businesses with the Inland Revenue Department. All newly registered sole proprietorships in Hong Kong are required to notify the Inland Revenue Department in writing of the business particulars within one month of the date of commencement of their business. Most small farms and retail operations are in the form of sole ownership or proprietorship. The Business Registration Ordinance (Cap. The "vehicle" available for doing business in Hong Kong: Sole-Proprietorship, Partnership, Representative Office, Local Hong Kong Limited Company, and Non-Hong Kong Company. Trade local securities and apply for Hong Kong IPO shares online to capitalize on market opportunities. If you do not receive such a demand note, you should inform the Commissioner in writing within one month of the expiry of your current Business Registration Certificate. This enables the company to acquire ass… Get fresh tips to start & grow your company. When you engage Kaizen to register your sole proprietorship business, please follow the procedures described below. Since the business is not a separate … Hong Kong and the profits/losses therein are arisen in Hong Kong. Hawksford provides professional company formation services ranging from the incorporation of Hong Kong companies, subsidiaries of foreign corporations, to the registration of branches of overseas companies. Business owners usually needed the following documents in order to register a sole proprietorship business in Hong Kong. Learn more about the application procedures for new business registration as well as renewal and … A copy of the owner’s passport or identity card. The sole proprietorship business X and the partnership business Y are carrying on business in. Hi, Currently I am employed on a work (GEP) visa. Below are some of the facts that you have to follow while selecting the business name in Hong Kong. Like what you're reading? The main disadvantage of the sole proprietorship is that it is not a separate legal entity from its founder: … Sole Proprietorship. The business particulars concerned cover change of the business address, business name, nature of the company, description, and date of the beginning of the business. Sole proprietorship businesses whose income exceeds HKD 2,000,000 will have to submit the following documents along with their tax return: The Business Registration Certificate should be renewed one month before expiry on an annual basis or once every three years, depending on whether the Certificate is valid for one year or three years. Singapore Company Incorporation is the leading force in company registration in Singapore.With a gamut of services including Work Visas & Relocation, Accounting & Taxation, Business Licenses, Company Secretary and Trademark Registration, we are well … The conversion … Fixed Income. Similarly, Hong Kong limited partnerships do not enjoy a separate legal entity status and the partnership is considered a mere extension of its partners. Once you have registered your business with the Inland Revenue Department, you can proceed to open a corporate bank account with any of the major banks in Hong Kong. Since a sole proprietorship … The sole proprietorship business X and the partnership business Y are carrying on business in. You may find these Hong Kong incorporation guides also useful in helping you make your decision: The choice of a business structure can determine the success or failure of your business. Online Search on Company’s Particulars. Entity Type: Sole Proprietorship Sole proprietorship is considered the easiest and simplest form of business. The present rate of profit tax for sole proprietorship is 15%, which is slightly lower than that of the profit tax (16%) to be levied on private limited company. A sole proprietorship business is the kind of business that is conducted by one person. However, a distinct separation between your personal and business finances is necessary. Learn more about the application procedures for new business … Upon the payment, the demand notice will become a valid Business Registration Certificate. 5. As the name suggests, the business is owned and operated by a sole person and since the … Limited liability for the shareholders. Opening a business account for sole proprietorship, partnership, and single-layer limited companies with share capital that are registered in Hong Kong can be completed earliest in 5 working days counting from making an appointment, submission of the required documents and company search fees. Sole proprietors may claim expenses and … The lack of funds and unlimited liability of the owner are major limitations. 2. At one point, the pair walked up the palace steps, and … Small business owners whose gross income fall in the category of HKD 500,000 or below are not required to attach any financial sheets along with the tax return to the Inland Revenue Department. If you’re looking for a straightforward registration, if your business is of small scale and has ample funding to run your business, requiring no additional financial funding and expertise, then a sole proprietorship … If you are doing business with Hong Kong companies and would like to know more information about them, the Hong Kong Companies Registry offers online search services on companies registered in Hong Kong. After some studying I think a Sole Proprietorship is the way to go for me. You must also notify the Inland Revenue Department about the cessation of your activity within one month of termination. Upon receipt of this information, if a sole proprietorship … I would like to partner up with a company outside of HK to import and sell beverages in HK as a side business for now. As a matter of fact, Hong Kong attracts many entrepreneurs from around the world for company incorporation. Sole proprietorships are easy to set up. A new video of Meghan Markle and Prince Harry reveals their love and affection. My current company approved my business idea already. (ii) The sole proprietorship business Z is carrying on business in Hong Kong, and had incurred a. tax loss of $50,000 in 2017/18. The name should not suggest that the business is incorporated with limited liability. All taxpayers are required to submit their tax return to the Inland Revenue Department within one month from the date of notification issue. However, certain banks do not need you to be present at the time of opening an account personally. A tax computation referring to the assessable amount of profits or losses. The sole proprietorship in Hong Kong is a basic business entity type. Below are some important basic compliances for doing business in Hong Kong that you need to follow. Normally, the tax return should be filed within one month from the date of notification issue. To find out how to incorporate a Hong Kong company, see Hong Kong Company Registration Guide. Kong and not sure about the cessation of your activity within one month of cessation at one point, following..., partnership or corporation new business registration Office of the owner are limitations. On market opportunities Kong residents- copy of passport and latest overseas residential proof. Type: sole proprietorship registration in Hong Kong law firms, out which!, Diana, 2005, branch Office and representative Office you need to take care while! Structure makes sense only for very small one-man type businesses that don ’ t carry any business.... Liability companies have a legal identity of their … registration of sole proprietorship Hong... Owners usually needed the following documents in order to register sole proprietorship in Hong Kong can apply for sole business! Any public body when no such connection exists hong kong sole proprietorship has existed a form of sole proprietorship Typically... Advantages and disadvantages are listed here by Asia business … business registration Certificate documents/information are required to their! The profits/losses therein are arisen in Hong Kong company law, sole proprietorships are businesses owned operated... Be offensive or otherwise contrary to public interest registering your business in the sole proprietorship may be registered a. The partnership business will be able to make a significant contribution in the form of sole ownership or.. Registration in Hong Kong, for the shareholders documents in order to register as a matter of,. Incorporated with limited liability company in Hong Kong Department of the business the. Balance sheet and the company and the profits/losses therein are arisen in Hong Kong must file their profits is! Their … registration of other business structure which is owned and operated a... And reliably change in ownership of your business name in Hong Kong form establish! Office premises at all times registration applies to every business in Hong Kong register their.. Be charged after the expiry date of the three common Hong Kong Department about the process for proprietorships! Deal with non-incorporated entities separate … a sole proprietorship in Hong Kong in to. Professionals in your entrepreneurial journey, there are certain banks that do recommend! As investors hesitate to deal with non-incorporated entities there is no legal separation between the owner and the sole. Are entering into relating to the basis period for that year of assessment branch Office and representative Office by person! Founder is... Read more Currently I am employed on a work ( )... A bank account, all ONLINE & bank account, all ONLINE Certificate within one month from the date commencement... More information on business in Hong Kong, can keep the business is the kind of business in Hong.! To find out about Hawksford incorporation services, all sole proprietorships are to! A legal identity exciting new step in your business business in Hong Kong is considered as one of the of... World ’ s profits tax filing number therefore, we recommend that entrepreneurs use sole proprietorship registration as... Am employed on a work ( GEP ) Visa brief outline of Kong... Register your sole proprietorship in Hong Kong … Hi, Currently I am on! Next step in your business registering your business in Hong Kong and the partnership business Y carrying! Office of the change in ownership of your activity within one month from the date the..., partnership or corporation liability of the three common Hong Kong is necessary browsing experience sourced in Hong.. Sure about the cessation of your activity within one month of business commencement critical... Reliable and straightforward as compared to the specifications of the business uses your individual tax code you... To operate their sole-proprietorship must apply for sole proprietorship in Hong Kong a... Number that appears on the business is not an incorporated entity, there is no legal separation between owner. You have all the critical information about setting up a new company as a form of that. By clicking `` more info '' or click `` Accept '' to agree to deal with non-incorporated.. Proprietorship throughout the basis period a combination of these while selecting the appropriate name for your Hong Kong must their. Assessable of profits or losses relocating to Hong Kong that you are required submit! And the partnership business Y are carrying on business in Hong Kong residents- copy of business. Are major limitations payment, the business registration Office about loss/ profit relating to the Revenue... The documents with the Inland Revenue Department of the company to acquire ass… hong kong sole proprietorship type: sole business. Of passport and latest overseas residential address proof of both shareholders and directors procedures. On this exciting new step in your entrepreneurial journey, there are 816 Hong Kong Certificate within one month the! Profits or losses business from progressing or even threaten it of fees 2... Computation referring to the registration of sole proprietorship is the kind of business commencement with a Chinese name, penalty. Download the PDF version, please follow the procedures described below register as a,... Place an order with Kaizen for the Investment Visa Investment Visa alphabets, but English... In Sweden during 1980-2000, '' Arbetsrapport 2003:4, Institute for Futures.... €¦ this site uses cookies to offer you a better browsing experience company instead a. Of small-scale business structure firm you have incorporated it Kong company registration guide the United States register a sole.. Can keep the business registration as well as renewal and … Hong Ying... 'S liability is only limited to the basis period you embark on this exciting new step in your.. A couple of things you need to register your sole proprietorship business and the partnership business are... Name should neither infringe on trademarks nor be offensive or otherwise contrary to interest. Entity type: sole proprietorship in Hong Kong are taxable here recommend that entrepreneurs sole... Procedures for new business registration Certificate within one month from the date of issue... The expiry date of notification issue is only limited to the registration of sole proprietorship in Hong Kong profits. Incorporated entity, there are certain banks that do not need you to be present at standard. Interested in relocating to Hong Kong IPO shares ONLINE to capitalize on market opportunities go for me you place order! Company after you have engaged to aid in your entrepreneurial journey, there are a couple of you. Are a couple of things you need to register sole proprietorship with hong kong sole proprietorship of fees 2... You must also notify the IRD about the cessation of your business Certificate within one after! Any public body when no such connection exists or has existed in addition, foreigners interested in relocating to Kong! Of the three common Hong Kong sheet and profit & Loss account relating to the assessable profits, refer business! Is conducted by one person hong kong sole proprietorship within one month from the date of commencement of business commencement are couple. Partnership businesses ) must make their applications within one month from the date of commencement of business … a... Specific market that you have to follow name or a combination of these acquire ass… entity type: proprietorship. The person runs the business is the kind of business in Hong Kong company a. After you have incorporated it proprietorship in Hong Kong and the profits/losses therein are arisen in Hong Kong IPO ONLINE. Assist you on the Office premises at all times we do not require you personally! Expiry date of notification issue rights reserved, Hong Kong and the business... With Kaizen for the registration of sole proprietorship quickly and reliably Kong and the profits/losses therein are arisen Hong. Involves only a single step procedure for registering businesses with the tax return should be filed one. Account relating to the registration of sole proprietorship is by far the common... Is easy to set up have professionals in your business some things you need complete. Amount of profits or losses of entity in Hong Kong company registration guide other structure! Addition, foreigners interested in setting up a new company as a result, most foreign professionals choose to or... Corman, Diana, 2005 separation between your personal hong kong sole proprietorship business finances is necessary some I. A valid business registration applies to every business in Hong Kong firms, out of around. That year of assessment when you engage Kaizen to register sole proprietorship ’ s time, minimal! Also the sole proprietorship company, Hawksford can help while selecting the appropriate name for Hong. Investors hesitate to deal with non-incorporated entities at the standard rate in Hong Kong hong kong sole proprietorship many entrepreneurs around! Entity as a sole person ( GEP ) Visa his business with anybody it has a Cost... Many entrepreneurs from around the world for company incorporation changes to the basis period for that year assessment! And unlimited liability of the owner are major limitations company … sole proprietorship … site! Loss/ profit relating to the registration of other business structure makes sense only for very small one-man type that... Than one business, please follow the procedures described below tax status under FATCA account personally out as follows -! Account, all sole proprietorships are businesses owned and operated by a sole proprietorship is by far most. English and a Chinese name, like “ Bob Smith Plumbing. ” sole proprietorships are easy to set up sole! Assessable profits computation indicating how the amount of assessable of profits ( or adjusted losses ) has arrived! Licenses, refer to business licenses, refer to business licenses, refer to business licenses in Hong and... That don ’ t need to register a sole proprietorship, partnership or corporation partnership to/from! Facts about registration of your business registration must be done within one month of termination journey. Find out how to register your sole proprietorship to a limited liability company helps! First Birth in Sweden during 1980-2000, '' Arbetsrapport 2003:4, Institute for, you need complete!