AbacusHKCPA - Company Formation and Company Registration by Hong Kong Accountants (HKCPA)

Unlimited company is very suitable for business start up because of

• its simplicity in application;
• its low maintenance cost; and
• able to have bank account in company name.

All nationalities is eligibile to open an unlimited company in Hong Kong. For business start up case, most unlimited company meets the requirement of business registration fee exemption. In this case, the possible cost of maintaining such an unlimited company can be very low:

Business Registration start up and annual renewal

• HK$ 2,450 , or
• zero ( exempted ).

Service fee for business registration

• Hong Kong resident : HK$ 500;
• Non-Hong Kong resident : HK$ 1,500.

Accounting & tax filing per year - maybe as low as HK$ 1,000 because no audit is required. The actual charge depends on income, volumn of transaction and business nature of the company.

For tax purpose, the loss can be carried forward to setoff future year's profit.

For business purpose, an unlimited company can carry out all business just same as a limited company.