What is an Industry Scheme?The industry scheme is a Mandatory Provident Fund (MPF) plan designed for temporary employees in the construction and catering industries. It aims to ensure that these short-term workers, even if employed for just a day, are required by their employers to participate in the Mandatory Provident Fund Scheme and make contributions. … Read More
Hong Kong (Eng)
When a bank account gets frozen, it can cause panic or inconvenience, especially when you need to withdraw or conduct transactions. However, banks don’t freeze accounts lightly; it’s often done to regulate and safeguard the flow of funds. Bank accounts are crucial for individuals and businesses, serving as the core of financial operations. Let’s delve into the reasons causing a bank account to freeze, helping you better understand this issue. … Read More
Requirements for Registered Office Address in Hong Kong and Procedure for Changing registered office address
In Hong Kong, the registered office address is a vital step in the company registration process. The registered office address not only serves as the company’s operational location but also significantly impacts its business operations. … Read More
Auditing is a highly crucial practice, especially for limited companies. It plays an indispensable role in enhancing financial planning, strengthening internal management, optimizing taxation, and elevating a company’s brand image. It is a pivotal aspect for the overall development of a company. … Read More
How to Transfer Shares? What Documents Are Needed for Share Transfer, and What Should You Be Aware Of?
In Hong Kong, share transfers are common commercial transactions that can occur for various reasons, such as transferring a company’s business, changing the ownership structure, shareholder exits, or introducing new shareholders. This article aims to provide detailed information on share transfers, including important considerations, required documents, and the specific process to ensure a smooth share transfer. … Read More
As businesses grow and change, there may be a need to amend these articles to accommodate new requirements. This article will outline how to modify the articles of association in accordance with the Hong Kong Companies Ordinance, along with important considerations. … Read More
In simple terms, a dormant company is a company that has not engaged in any accounting transactions during a financial year and has no outstanding debts. In such a situation, a company can apply to become dormant with the consent of all members, thus retaining the company at minimal costs. … Read More
Moving can keep you busy for a while, but when you have some free time, don’t forget to update your mailing address, especially when it comes to taxes. … Read More
Changing Directors in a Limited Company: How to Change Directors in a Hong Kong Limited Company and What to Do When a Director Resigns?
Operating a limited company, changes in directors are common. Whether you are the company owner or a director, it’s important to understand the procedures and processes involved in changing directors in a limited company to ensure the company continues to operate legally. … Read More
Every tax season, many business owners inquire whether their company can file a “zero tax return” without the need for an audit if the company hasn’t conducted any business activities during the fiscal year. In this article, we will provide updated insights into the concept of a “zero tax return.” … Read More