Legal matters needing attention after registration of Hong Kong company

Registering a Hong Kong company is a springboard for many enterprises to carry out international business. Many investors in the mainland need to register and operate a Hong Kong company well. It is a complicated and complicated process to register a Hong Kong company. It is better to hand it over to a professional organization, such as Hong Kong Fung Investment Consulting Co., Ltd., which specializes in Hong Kong company registration and has accumulated rich experience. Hong Kong Investment Consultants hereby remind investors that they need to pay attention to some legal matters after registering a Hong Kong company

Legal matters needing attention after the registration of Hong Kong company

1. Tax liability

After registering a Hong Kong company and starting any business in Hong Kong, it means that the Hong Kong company is likely to bear the corresponding tax liability, that is, to pay the corresponding tax according to the profits obtained in Hong Kong within a certain period of time. No matter whether the operator of a Hong Kong company is a Hong Kong native or a mainland person, the Hong Kong company whose main business is generated operating profits in Hong Kong must pay the corresponding tax.

Operators of Hong Kong companies should pay attention to the issue of tax payment. Hong Kong companies must submit a profit tax return to the tax bureau every year and make preparations for tax payment. Compared with the mainland, Hong Kong companies need to pay less taxes, generally including profits tax, salaries tax, property tax, etc.

2. Mandatory provident fund

The mandatory provident fund system is an occupation based scheme in Hong Kong. Ordinary employees, temporary employees and self-employed persons aged 18 to 65 are required to participate in the mandatory provident fund scheme.

As an employer, Hong Kong companies must arrange for all the employees who meet the age requirements to join the mandatory provident fund scheme. In the mandatory provident fund scheme, the Hong Kong company's responsibility is to calculate the relevant income and contribution of each employee during each contribution period, then deduct the employee's contribution for that period from the employee's relevant income, and draw the fund of the Hong Kong company as the employee's contribution.

3. Employee compensation

The legal system in Hong Kong is relatively sound, so when overseas people register their companies in Hong Kong, they need to establish corresponding employee subsidy system and employee compensation system within the company. All employees employed by Hong Kong companies will be protected by law. That is to say, if during the working period, the employees of Hong Kong company are injured accidentally or suffer from occupational diseases due to their work, the Hong Kong company shall be responsible for making compensation to the employees.

4. Trade tariff and import and export

As we all know, the import and export goods in Hong Kong are basically free of duty, and there are no tariff quotas or surcharges. But at present, there are four categories of dutiable goods that need to pay customs duties, including alcohol, tobacco, hydrocarbon oil and methanol. Hong Kong companies involved in tobacco and alcohol trade need to pay attention to this point.

In addition, Hong Kong trading companies need to know that the operation of Hong Kong companies needs to comply with Hong Kong import and export requirements. Any person who imports / exports any goods shall go through the customs declaration formalities within 14 days after the import / export of the goods.