FEES AND CHARGES
Annual renewal cost and included details of Hong Kong corporation
Annual renewal fee: HK$6,000
+ Business registration fee: HK$250~2,250 (varies every year)
+ Annual Report: HK$105
= Total HK$6,355~8,355
1. Annual Return
2. Business Registration **Free processing upon request for industry registration
3. Company Secretary registration for the first year
4. Providing HK address and mailing service including scanning and emailing annually **Free registration processing and change of business registration certificate when changing the business address
5. Salary Income Report by Employer (HKD200 postal fee is added, no additional fee for up to 2 employees) (Handling Employees' Return; + HKD200 postal charge; up to 2 employees without further charge)
6. Report on corporate information and employment status (Handling mandatory Survey of Company Information)
7. Prepare and keep the list of important decision makers of the corporation (Handling Significant Controllers Register)
8. Prepare and keep a list of shareholders/directors/secretary and governance chart of the corporation (Handling Register of Members/Directors/Secretary and Organization Chart)
9. Brief business advice for the first year
10. Answering telephone and fax services
** Business registration fee according to the Hong Kong financial budget from April 1, 2020 to March 31, 2021: HK$250
** 10~30% discount depending on the number of years (from the second annual renewal) Discount applied, 5% increase every year after discount application, up to 30%)
** Separate income declaration and accounting audit expenses (detailed estimate after reviewing annual accounting data)
** Separate information for annual renewal
Hong Kong Corporation Accounting Expenses
- HKD 100 to 800 per month
** It varies depending on the transaction volume and the state of the documents, and we will give you a separate estimate before proceeding with the work.
** Separate costs are incurred for complex currency assets, bonds and compound financial instruments issuance and purchase, and consolidated financial statements
Hong Kong Subsidiary Audit Arrangement and tax expenses
- HKD 4,000 ~ 10,000
** It varies depending on the transaction volume and sales, and a separate estimate will be provided prior to work.
** Separate expenses are incurred for the reflection of subsidiaries' assets, overseas assets, and fair value of listed companies' assets.
** Separate estimate for audits for investment attraction other than tax purposes, investor general meeting and briefing, etc.
Examples of Hong Kong corporation establishment and management costs
1. When establishing a company:
HK$8,100 (setup fee + bank account opening fee)
HK$10,000 (initial deposit when opening a corporate account - based on KEB Hana Bank)
HK$1,500 (corporation investigation fee - KEB Hana Bank)
HK$19,600 (initial reserve)
HK$9,600 (actual establishment cost + bank cost)
2. When maintaining the company:
HK$ 6,105 (Annual renewal fee)
HK$ 2,250 (2021 Based on business registration fee after April)
HK$10,000 (annual estimated accounting/audit and tax) ** This is a simple example and not a fixed amount
HK$18,355 (Estimated renewal and tax expenses)
3. Separate bank account maintenance fee:
It varies depending on the bank, and the bank will notify you separately when opening a corporate account.
Hong Kong corporation document notarization fee
Guide to notarized documents (for submission when establishing a Chinese joint venture/foreign-funded company)
BR / CI / NNC1 (incorporation document) notarization fee (1 copy, 1 copy): HK$6,000
When a copy of passport is inserted in the above notarized document: HK$200
For 1 additional copy: HK$760
Add 1 copy: HK$400
** Authentic and duplicate copies cannot be added at the same time. Only one type of original or duplicate copy can be added.
Mailing fee: HK$160
Handling Charge: HK$700
Working lead time: 5-10 business days (1-2 weeks)
Change of shareholder/director of Hong Kong corporation expense
If no business occurs after incorporation: HKD 2,000
If business has occurred after incorporation: HKD 2,000 + accounting settlement expenses incurred
Separate fees are incurred when handling KYC and Due Diligence documents required by the bank after a change of shareholder/director
Cost of Closing of Hong Kong Subsidiary
Closing cost: HKD 3,000
Processing lead time: 6-7 months
** Limited to cases where the documents and reports required to be submitted to the government, such as tax reports, National Statistical Office, and company registration office, have not been omitted.
** Both the annual report of the corporation and the business registration certificate must be updated during the closing period.
** If you request to close the business at the time of corporate renewal, corporate renewal cost + business closure cost will be incurred.
** If the tax return or employee pay report is missing, you can proceed after processing all the relevant cases and paying the fine.
Court attendance fee for Hong Kong corporation
If a lawsuit is filed from the Tax Office due to omission of a tax report and a court subpoena is issued, attend the court in person, explain the reason for violating the law, and pay a fine from the court on the day of attendance. You must be convicted and pay the fine on the same day.
attending the court You can appoint a representative.
attending court and Relevant documents fee: HKD 2,500 ~ 3,000 (Estimated separately depending on the case)
Hong Kong import and export permit
When importing and exporting, you must obtain a permit depending on the item. There is a case to do.
In general, food, Chinese medicine, health supplements, pharmaceuticals, agricultural and fishery products, livestock, etc. may require prior permission.
Documents, processing period, etc. vary depending on the case.
For general food and dietary supplements, a permit processing fee of HK$800 and a government stamp fee of HK$195 will be incurred.
Hong Kong Export Declaration
When a Hong Kong corporation exports overseas, an export declaration must be made, which is under the jurisdiction of the Hong Kong Statistical Office.
If export declaration is not made after export, a fine for negligence will be charged.
Cost: Basic handling cost HKD 500 + import/export declaration fee
** Since the import/export declaration fee and fine for negligence differ depending on the actual reporting date to the government, the import/export item, and the selling price, an invoice will be charged after the declaration is completed.
1) Bill of Lading
2) Commercial Invoice
3) Detailed description of import and export items
(If the import/export product is listed as an abbreviation on the Commercial Invoice, you can request a detailed explanation of the import/export item before proceeding with the import/export declaration on your behalf. For example, whether the LED cell is used is a TV or a computer. Otherwise, it is because the product code for export/import declaration varies depending on whether it is an LED cell used for other products or where it is used.)
Hong Kong Trademark Enrollment
1. Original logo file to be registered as Trade Mark (up to 4 types) ai, jpg, pdf, etc.
2. Classification items for which the Trade Mark will be used
3. Describe in detail the logo to be registered as a Trade Mark
(Example: If the logo is different from the general logo, such as 3D, hologram, sound, smell, etc., describe it in detail)
4. Trade Mark Search and Advice fee (one time): HKD2,000 (based on 1 class)
(HKD 200 per class when adding a class)
Trade Mark application and registration fee: HKD6,000 (based on 1 class)
(HKD 1,000 per class when adding a class)
Total: HKD8,000 (based on 1 class)
(When adding a class, an additional cost of HKD 1,200 per class is incurred)
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