Legal, Accounting & Company Formation





Forming a company in Hong Kong involves a series of specialized procedures and consumption of extensive amount of time. To provide you with great convenience in forming a Hong Kong entity, Verticl City offers all-inclusive Company Formation services, including preparation of all statutory documents and the 1st year complimentary company secretarial services.
Each of the incorporation cases is handled by our own dedicated and experienced professionals, who are fully versed in the HK Companies Ordinance.

WHY VERTICAL CITY?

One-stop Solution

  • Our Company Formation package includes the whole set of company kit that should be received after your registration, while the entire registration procedure is handled by us.

Quick Process Time

  • Vertical City professionals are experienced and skilled in handling the process-driving incorporation work, and thus provide you the shortest registration time.
  • Complete Corporate Services
  • As your long-term partner, we extend on-going support on administrative and maintenance services to you after the incorporation, allowing you to leave all troublesome but necessary corporate work to us.

Company Secretarial Services

  • To compliment Vertical City clients, our HK Company Formation package includes the 1st year company secretarial services, which fulfill the requisite company duty according to the HK Companies Ordinance.
  • Vertical City’s Express-Incorporation Service can provide you with the Certificate of Incorporation within 24h for only a small additional Service Charge.

Incorporation Alternatives

  • We provide incorporation services of whole new or ready-made HK limited company, unlimited company and representative office, aiming to take care of your specific corporate needs. BVI offshore company formation services are available as well.


FORMATION OF HONG KONG LIMITED
There are 2 ways of forming a limited company in Hong Kong: by either setting up a whole new company or purchasing a ready-made company (or named shelf company).

For case of whole new company, you can specify your preferred company name, but the registration process time is relatively longer. For case of ready-made company, you have to select your company name from a given list which includes never-used shelf company names, but the processing time will be shorter.


HKD 3,800 UP


SERVICE PACKAGE

  • Company name search
  • Certificate of Incorporation (includes HK$1,730 Government fees)
  • Business Registration License (includes HK$450 Government fees)
  • 25 copies of Memorandum and Articles of Association (M & A) in English
  • Share certificate book
  • Company chop, authorized signature stamp and common seal
  • Green Box with company name printed on
  • 1st year company secretarial services (HK$2,000 per annum)
  • Open bank account services
    • 5 Certified True Copies of company documents for opening bank account
    • Prepare a board minute for opening the account
    • Arrange appointment with bank representative at our Centre or nearby branch

Note: For ready-made co., there will be an extra set of documentation and contract transference.


MINIMUM REQUIREMENTS
  • 1 director
  • 1 shareholder
  • 1 company secretary (we will be your company secretary for the 1st year as complimentary services)

PROCESSING TIME
  • Ready-made company: approx. 1 to 2 working days upon signed confirmation.
  • All-new company: approx. 10 working days upon signed confirmation.


  • FORMATION OF HONG KONG UNLIMITED
All nationalities are eligible to form an unlimited company in Hong Kong. This entity is suitable for business startup because of its low maintenance cost. At Vertical City, we help you establish an unlimited company by handling the whole application for you.


  • REGISTRATION OF REPRESENTATIVE OFFICE
Representative office is established by a foreign company to engage in business liaison in the selected country. However, it is not allowed for the office to directly involve in operational activities. In general, a representative office can be set up before an incorporation of limited company, as the first step to enter local market and test the business environment in Hong Kong.


  • FORMATION OF AN OFFSHORE COMPANY
Offshore company is a preferred company structure to achieve anonymity and privacy protection, keep all business details confidential and combine all these with limited liability and tax exemption. British Virgin Islands (BVI) has always been the most popular jurisdiction for offshore company.

There are also two ways to establish a BVI company: either set up a new one or purchase a ready-made company.


HKD 9,000 ALL-INCLUSIVE!
SERVICE PACKAGE

  • Company name search
  • Certificate of Incorporation
  • 2 copies of Memorandum and Articles of Association (M & A) with BVI authorized signatory
  • 4 copies of Memorandum and Articles of Association (M & A) for external use
  • Register of Directors
  • Register of Members
  • Share certificate
  • Company round chop, authorized signature stamp and common seal

MINIMUM REQUIREMENTS
  • 1 director
  • 1 shareholder

PROCESSING TIME
  • Ready-made company: approx. 3 to 4 working days upon signed confirmation.
  • All-new company: approx. 20 working days upon signed confirmation.

Company ongoing maintenance is crucial for running a business after the initial incorporation. It is statutorily required according to the Hong Kong Companies Ordinance, which involves a range of corporate arrangements and legal affairs.

To assist our local and overseas clients in this area, Vertical City provides a complete blend of Company Maintenance Services on administration and corporate compliance, helping you handle these kinds of distressing but essential functions.

In Hong Kong, all limited companies are required to appoint a company secretary. If the company secretary is an individual, he or she should ordinarily reside in Hong Kong; if the company secretary is a corporate secretary, its registered office or place of business should be in Hong Kong. Now you can let Vertical City handle all duties of a company secretary at competitive price.


SERVICE PACKAGE

  • Being appointed as Company Secretary for one anniversary year.
  • Preparation and filing of Annual Return with the Companies Registry.
  • Meet the local filing deadline of Annual Return to avoid penalties on late submission.
  • Maintain company statutory records.
  • Arrange and witness the director and shareholder meeting with preparation of minutes.
  • Complimentary change of company name and registered business address (excl. Government fees).
    HKD 2,000 per annum



SERVICE FEATURES

Annual Return Preparation and Submission

By subscribing our package, we will help your company report required corporate duties to the Companies Registry in accordance with the Hong Kong Companies Ordinance.

Vertical City’s Virtual Office has all the benefits of a traditional office with only a small fraction of the cost. Without physically occupying the office space, you can run your office from your home or an overseas site, having a professional and complete corporate image. Perfect for a start-up business or corporations to enter into a new market.

Our Virtual Office package features with a prestigious business address, a dedicated phone number answered in your company name, receiving and forwarding of your daily mails and messages, along with additional support services that you need. You can choose from the basic business address services, to a more advanced level such as telephone answering.

Your daily mails and parcels are received and kept in your private mailbox for any time period. The mails can be forwarded as per your instructions, or stored for your collection.


WHY VERTICAL CITY?

Cost-effectiveness

  • Prime-A business address as your correspondence address at the lowest cost.

Professionalism

  • Personalized call answering by our fully trained receptionists.

Flexibility

  • Forwarding mails, faxes and messages to you as per your instructions.

Comprehensiveness

  • Access to secretarial services

SERVICE PACKAGE

  • Correspondence address in the center of Hong Kong
  • Government registered office address
  • Receipt of mails and parcels

HKD 150 per month only

  • Additional private mailbox for only HKD 50 per month extra

Accounting and financial functions are remarkably important for you to stay on top of your financial performance and comply with the financial reporting requirements. At Vertical City, we offer a lot more than just preparing periodic financial reports. Our dedicated referred professionals are committed to work closely with your company and thus help you handle your different time-consuming financial work like accounting, auditing and taxation arrangements.
Accountancy is crucial for business management and planning. No matter your business is in the start-up or prosperous stage, Vertical City's diversified Accounting Services help you meet your financial reporting requirements timely, conform to up-to-date accounting standards and manage your financial performance efficiently.


SERVICE PACKAGE


Setting Up of Appropriate Accounting Systems

  • We can help your company establish an advanced and dedicated accounting system, to manage the accounting operation and file all accounting materials systematically, good for finding, analysing and controlling.

Maintenance of Accounting Books and Records

  • Simply present all your invoices and vouchers to us every month, and we will prepare the required accounting books and records for your company, which record the company entries from day to day.

Preparation of Monthly, Periodic and Annual Financial Reports

  • Our referred Certified Public Accountants (CPA) will also help you prepare accurate periodic and annual financial statements including balance sheet and income statement.

Management Accounting

  • We can help you develop an advanced managerial accounting system, which assists in corporate tax planning, strategic cost control and decision making for long term financial planning. Unlike public financial accounting data, confidential management accounting data is used within the company and requires mature internal accounting system for processing.

Treasury Services

  • Our treasury services are tailored to meet your specific requirements, including acting as authorized signatory on your bank accounts, handling disbursements and receipts of funds in the absence of top management, liaison with leading banks and many more.

According to the Hong Kong Companies Ordinance, the annual financial statements of limited company should be audited by Certified Public Accountant (CPA) for submission in the annual meeting to let shareholders review, and for submission in the yearly tax assessment required by the Inland Revenue Department. The cut-off date of your company's fiscal year is advised to be in March or December each year.



SERVICE PACKAGE

Statutory Auditing Arrangement with Preparation of Financial Statements

Vertical City's referred CPA is experienced in handling different business audits. No matter you are in service industry, retailing, manufacturing, trading, etc., our referred accountant will support in preparing the statutory audited financial statements including balance sheets, income statements and cash flow statements for your submission, with total discretion and cognition.

Stock-taking


Part of our Auditing Arrangement services is to carry out the stock movements checking in the intervening period, and to ensure the year-end stock balance for auditing use.

Computerized Accounting

For companies having their manual accounting records already, they still need computerized accounting ledgers and reports for statutory audit and submission of Tax Returns. We provide a full set of computerized general ledger, trail balance and other financial statements for you, or we can help set up and implement your own computerized system.

Company Valuation and Due Diligent Audit Arrangement

We can also help you arrange non-statutory auditing on target business such as company valuation and due diligent review, as an assessment of the business by investigating and identifying the company's hidden problems and under-performing assets.

Internal Audit Arrangement and Operational Review

Internal audit is very important in today's business environment, since an efficient internal control can promote the corporate value and minimize business risks. Our referred competent auditors can help you carry out the internal audit work easily on your company, providing professional advice and practical solutions in solving the identified problems.


Vertical City Taxation Services are greatly considerate as they are based on a full understanding of the client's business nature and unique requirements. Our referred tax specialists will work closely with you and learn your future development thoroughly, helping your company establish strategic tax planning in Hong Kong in the most tax-efficient manner.


HONG KONG TAXATION OVERVIEW

Persons, corporations, partnerships, trustees carrying on any trade or business in Hong Kong are required to pay tax on profits arising in or derived from Hong Kong. All business operators are required to file a Profits Tax Return with the Inland Revenue Department every year.
Corporate Profits Tax rate is 16.5% in average, which could be varied every year and is subject to the announcement of Hong Kong Yearly Budget.
Personal Tax is also among the lowest in the world at around 15% in recent assessment years. Furthermore, there are no hidden 'extras' on the tax system
Only income and profits derived directly from Hong Kong are subject to tax.
There is no tax on capital gains, dividends or interest.
The tax system provides generous capital allowance and depreciation regulations.
Hong Kong has no Sales Tax or Value Added Tax.


SERVICE PACKAGE

  • Advice on Corporate Tax Planning
  • Tax Compliance Services Like Preparation of Profits / Salaries Tax Return
  • Design Tax Strategies to Minimize Profits Tax and Enhance Tax Efficiency
  • Advice on Tax Effects of Inter-company Transactions
  • Assistance for Foreign Executives in Personal Tax Planning in Hong Kong

COMPANY CREDIT REPORT

Reports on companies registered in Hong Kong including registered capital, shareholders, mortgages, legal filings, credit ratings, etc.


VAT (VALUE-ADDED TAX) REFUND

Refund of value-added tax paid for goods and services in Germany, Switzerland or Denmark (applicable to Hong Kong companies only).

City offers Working Visa advice and assistance across the entire spectrum of immigration activity in the Hong Kong Special Administrative Region (HKSAR). We ca assist expatriates in getting the Hong Kong entry permit efficiently within the shortest time.
According to the Hong Kong Immigration Ordinance, any person other than those having the right of residence or right to land in Hong Kong, must get a visa before coming to Hong Kong for the purpose of employment, investment, residence or training. At Vertical City, we provide complete packages for different types of Visa Application with success driven service charges.


The different types of visa:


WORKING VISA

Employment Visa is applied for foreign people to work in a Hong Kong registered company. The applicants should already have an offered position in Hong Kong in which the position could not be replaced by the local labor market.

The position is much better in managerial or supervisory level. The applicants should have sound educational and relevant working background.

On the other hand, the background of the employing company is also very important. The company should be a well-established and stable corporation. Financial standing of the company sponsor is required.


INVESTMENT VISA

For those who are the owner of a business and would like to station in Hong Kong to manage the business may apply for the Investment Visa.

The basic requirement is the applicants should have their business registration in Hong Kong and have a solid business plan for their business. The business should have sustainable contribution to the Hong Kong economy.Therefore, proven existing contract and business activity in Hong Kong could be a good support. Meanwhile, the reason why the applicant is necessary to station in Hong Kong could not be neglected.


TRAINING VISA

Hong Kong residents are able to bring along their dependent family members to Hong Kong:

  1.For a sponsor who is a Hong Kong permanent resident or a resident who is not subject to a limit of stay, he / she could bring along his / her spouse, unmarried dependent child under the age of 18 and his / her parent aged 60 or above for residence in Hong Kong.

  2.For a sponsor who has been admitted into Hong Kong to take up employment or study, or who is permitted to remain in Hong Kong as a capital investment entrant, he / she could bring along his / her spouse, and unmarried dependent child under the age of 18 for residence in Hong Kong.


DEPENDANT VISA

Training Visa is for those trainees to be trained in a Hong Kong reputable company, which is capable to provide the proposed training.

Those trainings should be proven as programs of providing special skills and knowledge that are not available in the applicant's home country. Maximum period of a Training Visa is 12 months.

Meanwhile, the company sponsor should provide the training contract, proposed duration and content of the training program which can be justified.

The company sponsor should also guarantee in writing the maintenance and repatriation of the trainee and that the trainee will receive training in the sponsor's premises until the end of the agreed period, after which the trainee will return to his / her place of residence.

Given that the unemployment rate of Hong Kong is not a low figure at the moment, the Immigration Department requires more convincing proof than before to allow a foreigner to extend his / her stay in Hong Kong or change the visa status. With our immigration expertise, Vertical City provides you with different types of Visa Extension or Status Change services, saving your future unnecessary trouble and grief.


SERVICES INCLUDED


Extension of Stay (Visa Renewal)

For any types of Hong Kong Working Visa, Dependant Visa or QMAS Visa, we can assist you in the application for extension of stay. Our one-stop package includes preparing and organizing all documents required by the Immigration Officer, proofing your essential presence during the extended period and updating the application status with the Immigration Department.

Change of Visa Status

We can help you change your visa status (e.g. from Visitor Visa to Employment Visa). Such application requires that the applicant has an offered position by a Hong Kong registered company already, following that we will assist you in managing the entire application process.


Change of Visa Sponsorship

For those foreigners wishing to change their employer from one to another, they require to apply change of visa sponsorship. This type of application follows similar consideration processes to change of visa status.

No significant advantages are given to the applicants as they are in possession of an Employment Visa sponsored by a previous employer. However, if the new area of employment is in the same field and the employers' standing is similar, the application can usually be approved more readily.

Over the recent years, the Hong Kong Government has announced a number of Special Entrant Schemes, aiming to encourage investors and professionals to locate in Hong Kong, and thus facilitate the economic development. In respect of the applications under these schemes, Vertical City can help you prepare a professional presentation of all necessary details, which can speed up the process and ensure better success of such applications.


SERVICES INCLUDED


Capital Investment Entrant Scheme

The Hong Kong Special Administrative Region (HKSAR) has launched the 'Capital Investment Entrant Scheme' on 27th October, 2003. With effect from 14 October 2010, two updates are made to the rules: eligible entrants should invest not less than HK$10 million in permissible investment asset classes for taking up residence in the HKSAR; and 'real estate' shall not be regarded as a class of permissible investment assets.

Basic requirement for the applicants is that they must be aged 18 or above.

This scheme is applicable to foreign nationals (except nationals of Afghanistan, Albania, Cuba and Democratic People's Republic of Korea); Macao Special Administrative Region residents; Chinese nationals who have obtained permanent resident status in a foreign country; Taiwan residents; stateless persons who have obtained permanent resident status in a foreign country.

Further requirements include:

  1.With not less than HK$10 million net assets throughout the 2 years preceding the application.

  2.The applicant has invested within 6 months before submission of the application to the Immigration Department, or will invest within 6 months after the granting of approval in principle by the Immigration Department, not less than HK$10 million in permissible investment asset classes (except Certificates of Deposit that must be invested within the latter period).

  3.The applicant is able to support his / her own living as well as his / her dependants' living without relying on that HK$10 million investment, employment or public assistance in Hong Kong.

  4.No adverse record both in Hong Kong and country / region of residence.

Admission Scheme for Mainland Talents and Professionals

The objective of the 'Admission Scheme for Mainland Talents and Professionals' is to attract qualified Mainland talents and professionals to work in Hong Kong in order to meet local manpower needs and enhance Hong Kong's competitiveness in the global market.

The company sponsor should be a Hong Kong registered company. On the other hand, the applicant should have a confirmed offer of employment and is employed in a job relevant to his academic qualifications or working experience that cannot be readily taken up by the local labour force.

Meanwhile, the applicant should also meet the following basic requirements:

  1.The applicant should have a good education background, such as a first degree in the relevant field; or good technical qualifications and professional experience with supporting documents.

  2.The applicant is in a position to make substantial contribution to the Hong Kong economy.

  3.There is no security objection nor serious criminal record.

It is essential to surmise if your chosen trademark has already been registered within Hong Kong or has been applied for by another trader.
We provide assistances on investigating this and do provide advisory on if your potential trademark is distinctive from others, a graphic representation of your trademark and also lodging your application with the Trade Marks Registry. Additionally, our staff will investigate which class your establishment falls under. In Hong Kong, each type of operation is specifically classified under 1 to 45 categories which have to be clearly specified during registration process.

When the Hong Kong Trade Marks Registry processes your potential application then your trademark will be prominently published in the Hong Kong Intellectual Property Journal. Once your trademark has been acknowledged for registration, the Registrar of Trade Marks will enter the specifics and details of your trademark into the trademarks register and you will be disseminated with a certificate of registration. If by any means your trademark is rejected by the registry, Vertical City through our lawyer will be of assistance to facilitate a follow up in writing to the registry. The entire integrated application procedure would take approximately 6 to 9 months from receipt of application of registration if no queries arise. The period of validity of the trademark shall be 10 years.

Fees for 1 word or 1 logo

Search fee to the Trade Marks Registry: USD125 +
Registration lodgment: One class: USD900 +
Additional class: USD770
Correspondences with the Trade Mark Registry by a lawyer (if required): Time charges


INFORMATION REQUIRED

Please provide us with the following information:
  • the proposed trademark logo and words which indicating the nature of the trademark (sound, smell, colour etc.);
  • trademark class number to be chosen for the proposed trademark (if available);
  • A list of the goods and services which are being provided/supplied under the trademark; and
  • Certificate of Incorporation of the company, one of the director’s passport copy and address proof ie utility bill within the last 3 months.

Copyright © 2012 - 2019, Vertical City Limited 城尚有限公司 – All rights reserved.

Disclaimer | Back to Top