Expert Bookkeeping,
Company Secretary
& Incorporation
Wong Tai Sin, Hong Kong

Incorporating a Hong Kong limited company under Companies Ordinance Cap. 622 requires at least 1 director (any nationality, no HK residency needed); at least 1 shareholder (any nationality); a mandatory licensed company secretary (HK resident or HK body corporate); and a registered office address in Hong Kong. Government incorporation fee: HKD 1,720 for NNC1 filing. Processing: typically 3–5 business days. After incorporation: Business Registration Certificate from IRD within 1 month — annual fee HKD 2,000 (2025). No minimum paid-up capital required. For Indian entrepreneurs in Kowloon or Wong Tai Sin: no HK residency is required to be a director or shareholder. The company secretary must be HK-resident, which Sirus Infotech provides as a licensed corporate company secretary. We handle complete HK company incorporation from document preparation through Companies Registry filing to Business Registration Certificate.

Under Section 474 of the Hong Kong Companies Ordinance Cap. 622, every HK private limited company must have a company secretary at all times. The company secretary must be an individual ordinarily resident in Hong Kong or a body corporate with HK presence. A sole director cannot also act as company secretary. Company secretary duties under the Companies Ordinance: maintain statutory registers at the registered office; file the Annual Return (Form NAR1) with Companies Registry within 42 days of incorporation anniversary; file notifications of change of directors, shareholders, or company secretary; maintain the Significant Controllers Register (SCR) — beneficial ownership register required since 2018; assist with board minutes and resolutions; ensure all Companies Registry filing deadlines are met. For companies without a company secretary: the company and every responsible person are liable for a fine of up to HKD 25,000 under the Companies Ordinance. Sirus Infotech provides licensed corporate company secretary services covering all statutory filing obligations for Wong Tai Sin and all HK companies.

Hong Kong companies must maintain proper books of account under Section 373 of the Companies Ordinance — failing to do so carries criminal penalties. Hong Kong Financial Reporting Standards (HKFRS) is substantially converged with IFRS. HK private companies can apply: Full HKFRS (same as international IFRS); HKFRS for Private Entities (simplified framework); or SME-FRS (Small and Medium-sized Entity Financial Reporting Standard) for qualifying companies. For Wong Tai Sin businesses: most small and medium businesses in Kowloon's Wong Tai Sin district can use SME-FRS, which simplifies accounting significantly. Financial year: HK companies choose their own financial year end — common choices are 31 December or 31 March. Audit requirement: private HK companies must have their financial statements audited by a CPA licensed by HKICPA — unless qualifying for audit exemption. Sirus Infotech provides complete HKFRS-compliant monthly bookkeeping for Wong Tai Sin businesses and coordinates with HK-licensed auditors for annual statutory audit.

Hong Kong Profits Tax rates 2025: First HKD 2 million of assessable profits at 8.25% (corporations); profits above HKD 2 million at 16.5% standard rate. Key features: territorial basis — only profits arising in or derived from Hong Kong are taxable. Offshore profits (income earned from business activities outside HK) are not subject to HK Profits Tax — making HK attractive for regional holding companies. No withholding tax on dividends. No capital gains tax. No VAT or GST in Hong Kong. Profits Tax Return (BIR51) is issued by IRD approximately 18 months after incorporation, or annually thereafter. For Indian entrepreneurs in Wong Tai Sin: the India-HK Double Tax Agreement (DTAA) exists to prevent double taxation on income earned through HK companies by Indian residents. Sirus Infotech helps Wong Tai Sin businesses prepare Profits Tax-compliant accounts and file IRD returns.

The Significant Controllers Register (SCR) — the Beneficial Ownership Register — became mandatory for all Hong Kong companies from 1 March 2018. Every company incorporated in Hong Kong (including private limited companies in Wong Tai Sin) must maintain an SCR. The SCR records details of all significant controllers — persons or companies who own more than 25% of shares, control more than 25% of voting rights, or have the right to appoint or remove a majority of the board. The SCR must be kept at the registered office or with a designated representative. For Indian-owned HK companies in Wong Tai Sin: Indian founders must disclose their UBO (Ultimate Beneficial Owner) status in the SCR including providing identification documents. Penalties for non-compliance: HKD 25,000 and continuing daily fines. From 2023 onward, HK launched the Centralized Beneficial Ownership Register — companies must file and keep their SCR updated with the Companies Registry. Sirus Infotech maintains SCR compliance for all HK company clients as part of the company secretary service.

Every Hong Kong private limited company must file an Annual Return (Form NAR1) with the Companies Registry every year within 42 days after the anniversary of the company's date of incorporation. Annual Return filing fee (2025): HKD 105 if filed within the prescribed period. Late filing penalties: HKD 870 if filed within 42 days after the prescribed period; HKD 1,740 if filed 42 to 12 months late; HKD 3,480 if filed more than 12 months late — in addition to the original HKD 105. The Annual Return confirms: registered office address, details of directors and particulars, details of shareholders and shareholdings, details of company secretary, and share capital information. Business Registration Certificate renewal: separate from the Annual Return — the BRC must be renewed annually with IRD. Annual BRC fee: HKD 2,000 (2025). Sirus Infotech manages all Annual Return and BRC renewal deadlines as part of the company secretary service for Wong Tai Sin clients, filing 3–4 weeks before every deadline.

Yes, absolutely. Indian nationals and Indian expats can be the sole director of a Hong Kong private limited company (no HK residency required for directors); own 100% of shares in a HK company (100% foreign ownership permitted — no local partner required); and serve as shareholders without any HK residency requirement. The only mandatory HK-resident element: the company secretary must be either an individual ordinarily resident in HK or a body corporate with HK presence — which Sirus Infotech fills as a licensed corporate company secretary. For Indian expats living in Wong Tai Sin or Kowloon: you can incorporate a HK company using your Indian passport and your HK address as the registered director address. India-HK DTAA: the India-Hong Kong tax treaty came into force in 2018 — providing treaty benefits on dividends (5% withholding if India resident owns 10%+ of HK company), interest (10%), royalties (5%). NRIs with HK company income should seek dual-country tax advisory — Sirus Infotech provides integrated India and HK tax compliance for Indian-origin Wong Tai Sin business owners.