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HONG KONG:TOP HASSLE-FREE TIPS TO MAINTAIN YOUR BUSINESS

2021-03-02

Starting up your company is a long-term responsibility. Once your company is established, it doesn’t mean you can relax and have a chill day. We don’t mean to dampen your mood. However, many entrepreneurs make this mistake. On the contrary, the entrepreneurs need to work even harder to strive for success. Meanwhile, the entrepreneurs should make sure their company meets …

THE 2021-2022 BUDGET TARGETS ON REVIVING THE ECONOMY

2021-03-02

Over the past year, Hong Kong have experienced a very different life. The epidemic has aggravated the economic recession. Hong Kong’s Finance Secretary Paul Chan, has unveiled the 2021-2022 budget on 25th February at the Legislature. The budget focuses on stabilising the economy as well as relieving people’s burden. Moreover, Chan claimed the budget blueprint is focusing on relief measures. …

FOREIGN APPLYING FOR CHINA RESIDENCE PERMIT

What is a China Residence Permit? A residence permit refers to a person’s visa status. It signifies the duration for which the person is allowed to reside within a country of which he or she is not a citizen. The residence permit in China do look like a Hong Kong Identity Card.  On the Residence Permit it also shows your …

PREPARATION OF CHINA E-COMMERCE PLATFORM SETUP

2021-02-23

Chinese Consumers are some of the most eager and forward-looking e-commerce participants. It is therefore not surprising that the Chinese ecommerce retail market is estimated to the world’s largest. Within China, clusters of firms have formed in distinct geographical locations. In fact, assisting by the common logistics platforms. It further assists to develop of ecommerce export business: both B2B & …

HONG KONG IS STILL THE HUB FOR THE STARTUPS

For the past 2 years Hong Kong faces fraught with obstacles. We came across the US-China trade conflict, social incidents and outbreak of pandemic. Nevertheless, Hong Kong is distributing more resources to alleviate the pressure on companies and the general public, in order for Hong Kong to maintain itself as a hub and still is a good place to start a business.  Hong …

NEW RULE ON CHINA CORPORATE BANK ACCOUNT – PART 2

2021-02-05

Regarding to the stricter rule imposes on the corporate bank account in China. The corporate account holder or business owner have to pay attention to the bank verification calls and emails. As the bank will contact you by phone, email or on-site visits. Missing a phone call seems not a big deal. However, if you missed that call from bank. you may get …

CHINA ENFORCE A STRICTER RULE ON THE AUDIT OF CORPORATE BANK ACCOUNT – PART 1

2021-02-05

What is happening in China’s Corporate Bank Account? In order to combat network criminal activities in China’s Corporate Bank Account such as telecommunications fraud and money laundering. Therefore, the People’s Bank of China has recently upgraded its supervision system.  On the whole, the China corporate bank account holder should pay attention to the verification call or email from your corporate …

Step by step for WFO E-Commerce Business Setup in China

2021-02-02

What is a WFO E-commerce Business ? WFO E-commerce business stands for Wholly Foreign Owned E-commerce business. Either a foreign individual or corporate wholly owned and registered entity in China. In fact, WFOE is a common business setup by which non-Chinese nationals or non-Chinese corporate entities, when they need to incorporate a foreign-owned limited liability company in Mainland China.  Indeed, many …

IS YOUR PROFESSIONAL COMPANY SECRETARY A QUALIFIED ONE?

According to Section 154 of Hong Kong Company Ordinance, every company must appoint a Company Secretary. Along with this article, you can see the importance of a company secretary for every Limited Companies in Hong Kong. In fact, many of the Limited Companies do not know if they have hired a QUALIFIED professional company secretary to help handle documents and work with …

CHINA INVOICING SYSTEM WITH ELECTRONIC FAPIAO

What is Fapiao? Other than invoice, fapiao is a legal receipt that serves as proof of purchase for goods and services. Nevertheless, it is an essential component of China’s tax law, and compliance for businesses.  Development of Digitalized Fapiao  July 2019 The State Administration of Taxation announced the preparation of Digitalised platform October 2019 Launched online platform naming E-VAT  November 2019 …