Service cost starts from 800 USD
The accounting procedure is enshrined in Hong Kong national law. That is, all companies registered on its territory are required to comply with established standards. This requirement applies to any active business having a bank account (even located outside of this offshore).
General accounting rules in Hong Kong:
- Accounting.
This area is governed by local HKFRS standards, which are very similar to international IFRS financial reporting standards. In particular, they provide for the compilation and provision of the following forms:- profit and loss account;
- balance sheet;
- financial statement;
- directors’ reports.
- Financial Statements.
This statement is generated for each calendar year and submitted to Revenue Commission, which is the local tax authority. Alongside, a declaration must be drawn up and submitted, which states that all income received is recognized extraterritorial, and therefore subject to taxation at a zero rate. - Auditing.
According to local law, checking the status of accounting and reporting is mandatory only for a certain category of enterprises. These include companies formed as joint-stock companies, and those that manage the business directly in the offshore territory.
To ensure that these requirements do not interfere with the creation and development of a new company in Hong Kong, contact Business Island Investments Limited for support. We are ready to help you solve these issues:
- get a consultation on the features of the organization, maintenance and control of accounting in the selected offshore;
- undertake the processing of primary documents, making payments, generating reports and submitting it to local authorized bodies;
- provide other services necessary for doing business in Hong Kong.
Business is connected with China, the company was established in Hong Kong. It was necessary to keep accounts and pay taxes. I am grateful to the company’s specialists, in particular Yaroslav, for the preparation and submission of reports. Thanks!
