Book keeping and Accounting / Auditing and assurance

Pursuant to the Company Ordinance, financial statement audited by qualified accountant and approved by shareholders in Annual General Meeting is required to have for Listed company. Professional services provided by qualified accountants, together with accounting software to assist customer on their daily accounting entries, and periodical financial reporting.

BOOKKEEPING

Content of Bookkeeping Services:

• Preparing books of accounts monthly, quarterly or yearly;
• Managing old book of accounts.
• Preparing annual financial statements include Balance Sheet and Income Statement;
• Helping in setting up accounting system;
• Arranging stock-taking, etc.

AUDITING AND ASSURANCE

Our firm pursuit in helping our clients in both organization report externally on non-financial information and strengthen your corporate governance procedures.

Content of Auditing Services:

• Statutoryauditing
• Non-statutory auditing

Evaluate the strength and weakness of the company’s internal operation, control system and stock-taking system

Corporate Secretarial

Corporate secretarial duties include reporting to Companies Registry about any change of the company’s structure and key personnel. To ensure timely satisfaction of obligations under Hong Kong Companies ordinance (Chapter 32), the outsourcing of corporate secretarial function is common in these days.

Contents of corporate secretarial:

• To prepare board minutes, arranging for annual meeting;
• To provide professional advices in respect of contract law;
• To provide services in issuance of application of deregistration or organization reconstruction;
• To provide profession advices and assistance in nominee services.

Taxation Consultancy

Our experienced and talented staffs are professional in assisting our clients to make the best use of tax concessions, and reduce tax liabilities. Tax planning and advices will be provided specified to the industry of different clients.

Contents of taxation services:

• Acting as Tax Representative
• Tax planning and tax advices
• Personal Income Tax
• Personal assessment

Acting as Tax Representative

Our firm aim at helping our clients to minimize their risk on filling a wrong tax return under Inland Revenue Ordinance, the maximum penalty of filling a wrong return is $3,480. Experienced tax consultancy expertise will fill the Corporate Tax Return and Proposed Tax Computation with Supporting Schedules; prepare Employer’s Returns for clients.

Extended services:

• Lodging objection against improper Tax Estimation / Tax Assessment ;
• Applying for Hold-over of Provisional Tax,
• Handling tax litigation.

Tax planning and tax advices

We are committed to add values to your business, apart from preparing the tax returns required from Inland Revenue Department, we are enthusiastic in the provision of Tax planning and advices so as to help your business to avoid the double taxation affects cross-border.

Things we concerned:

• Timing of recording revenue and expenditures;
• Book keeping records of capital expenditures;
• Assisting in arrangement and book keeping of related parties transaction;
• Assisting on prepare financial statements for bankers' view and corporate finance;
• Providing advices on distribution of profits;
• Providing advices on finances and operations and tax benefits;
• Providing advices on Mandatory Provident Fund and Staff costs.

Personal Income Tax

Our firm attempts tailored approaches to different clients in order to minimize their tax liabilities. Tax planning and advices on tax matters for individuals will be made for clients to satisfy their need and expectation

Personal Assessment

To lighten the tax burden of certain taxpayers who are subject to Profit Tax and/or property tax and/or salaries tax, personal assessment performs as a tax levy. Our tax consultant will work close with our clients to investigate whether applying for Personal Assessment or other types is more suitable. Our Tax experts propose tax planning on how to utilize the deductions and allowances under Personal Assessment to company and individual.

Liquidation / Dissolution / Deregistration

In pursuant to section 291AA of the Companies Ordinance, Hong Kong limited company (including dormant company) which has ceased its operation and is solvent may apply to the Companies Registry for deregistration. An application for deregistration must be accompanied by a Notice of No Objection (NNO) issued by the Commissioner of Inland Revenue. Non-filling of returns to the Company registry may be penalized.

Our firm provides services on company deregistration including drafting company’s minutes and respective forms and documents, minutes, application for a notice of no objection for de-registration and filing the application for the company de-registration to Company Registry.

Who are eligible to apply for business deregistration?

• The company (without outstanding liabilities);
• Shareholders or directors of the company.

Companies may apply deregistration subject to the following conditions:

• All shareholders agree to the deregistration;
• The Company have not commenced its business or the business has been closed three months before the application of the deregistration; and
• The Company does not have any outstanding liabilities.
• The Company have a Notice of No Objection (NNO) issued by the Commissioner of Inland Revenue.

Setting up of Hong Kong Company (Incorporation)

In Hong Kong, most popular forms of business are as follows:

• Branch of Overseas Companies
• Private limited company
• Association / Non-profit organization
• Sole Proprietorship
• Partnership

How should I go about the setting up?

• Tailor made limited company approach: (limited by shares / guarantee) Our firm will examine your business activities, Structure of organization and clause in the Articles of the Association, and advises you on the most tax-efficient way to structure your operations.
• Shell Company: (limited by shares / guarantee) The shelf company is a company that was created and left with no business activity. Clients may design the brand name of the company and we will assist you to do the establishment and request a declaration letter to confirm the existing company is clean and had no business activity since its incorporation. You can run your business immediately after acquisition or take over.

Setting up in Offshore Company

The British Virgin Islands (“BVI”) is a most preferable offshore financial centre which located in the Caribbeanto northwest of Antigua for setting up an offshore company in Hong Kong. Though an International Business Corporation (IBC), the privacy of a BVI company is wholly controlled assets. Our firm specified in setting up BVI Company.

BVI Business Companies Act 2004 allows the company to:

• Attractive for restructuring of companies and funds;
• Set up their establishment in the “BVI” without necessity for reciprocal arrangements in its original country of incorporation;
• Enjoy benefits of zero tax for incomes;
• Permitted to hold shares in other BVI Company;
• Be possible for single shareholder
• No audited financial statements or Annual general meetings are required