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Hong Kong is hit hard by the pandemic. The Government has been flushing out lots of assistance to the commercial sectors with the hope that unemployment could be kept at a reasonable level and companies can survive after the virus is contained. One of the most importance assistance is the Employment Support Scheme whereby qualified...

The Trade and Industry Department (TID)’s main responsibilities are to: consolidate and enhance good relations with trading partners and promote bilateral and regional economic and trade cooperation; maintain a fair and stable trade regime and ensure that Hong Kong fulfils its international obligations; actively participate in international trade organisations and promote trade and investment liberalisation and facilitation assist Hong...

Hong Kong has not been known for being innovative nor technologically advance. However, in the past few years, a catching up has been in place hoping to boost Hong Kong’s ranking in these arenas. There are institutions being empowered for this purpose. 1)   The Innovation and Technology Bureau is tasked to: strengthen cooperation among stakeholders and create greater...

The HK tax regime is on a territorial basis i.e. only profits derived from Hong Kong are taxable. The current profits tax rate for companies is 8.25% for the first HK$2 million and 16.5% on the balance. Profits derived outside of HK are not taxable but subject to review by the Inland Revenue Department (IRD). That said, if...

Before incorporation, the following should be considered: Who should be the director A private company limited by shares requires only one director who does not need to be resident in Hong Kong. This person must be at least 18 years old. No share qualification. The 2nd and other directors could be a company.Who should be the shareholder and...

In Hong Kong, there are 5 types of companies which can be incorporated. They are: (a) a public company limited by shares; (b) a private company limited by shares; (c) a public unlimited company with a share capital; (d) a private unlimited company with a share capital; (e) a company limited by guarantee without a share capital. Incorporation is done pursuant...

Most startups fail in the first couple of years. Many reasons contribute to the failure. One reason for this is being too optimistic. Angel investors do not invest lots of money in startups but may guide the founders how to refine their business plans and set realistic targets. Once the startups grow to be ready for pre-series A or...