MIRRASIA  BUSINESS  ADVISORY

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)
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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
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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.

Required documents:
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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