Business Registration Fees and Points to Note: Updated Guide 2025
To open a company in Hong Kong, the first step is to understand the business registration, which is not only a legal requirement.
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Tax compliance is an important part of doing business in Hong Kong, and WeCorp has a team of experienced professional accountants who provide one-stop tax preparation services for Hong Kong limited companies, unlimited companies and individuals. We promise:
| Company Status | Deadline for filing the first tax return | Deadline for filing tax returns for subsequent years |
| Newly established companies | The first tax return is normally received about 18 months after the date of incorporation and is due within 3 months of the date of issue. | |
| General Company | Within 1 month of receipt of the tax return. | Within 1 month of receipt of the tax return. |
| Extension Application | We can apply to the Inland Revenue Department for an extension of time for filing tax returns (commonly known as "deferral") on your behalf to allow more time for preparation. |
In order to speed up the tax filing process, please prepare the following basic documents (the actual list will be adjusted according to the company's situation):
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need. According to the Inland Revenue Ordinance of Hong Kong, all registered limited companies, irrespective of whether they have income or business activities, are required to pay the taxpayers' contributions upon receipt of the tax return issued by the Inland Revenue Department (IRD).Profits Tax ReturnIf the company is a "zero-operator", it is necessary to prepare a tax return within the deadline. If the company is a "zero-operator", you need to prepare the followingZero tax return (Dormant) filing and statutory auditThe business has not yet commenced operations or has been suspended.
must notUnlimited companies (including sole proprietorships and partnerships) are still required to file profits tax returns. Unlimited companies (including sole proprietorships and partnerships) are still required to file a profits tax return. If your business has no chargeable profits, you will need to file a true return and claim zero chargeable profits. However, unlimited companies can, under certain circumstancesneedlessProvide audited financial statements, but still need topreserveAll receipts and records.
According to the requirements of the Inland Revenue Department of Hong Kong, all business records (including books of accounts, balance sheets, receipts and payments, etc.) must be available on the date of transaction or in the relevant accounting year.Retain at least seven years after terminationThe IRD will not be able to provide sufficient documents to substantiate the returns. If the Inland Revenue Department (IRD) checks and fails to provide sufficient documents to substantiate the returns, the companies or individuals will be subject to penalties.
Yes, but it must be shown to be business related. The Inland Revenue Department (IRD) usually accepts business-related entertainment expenses (e.g. treating clients to meals) and travelling expenses as tax deductible items. But here's the kickerRetention of receiptsThe details will be recorded:
Tax returns must be filed and "losses" are valuable assets! Even if a company is incurring losses, it is still required to file tax returns and audit reports on time. Verified by the Inland Revenue DepartmentTax LossYou can use it.Indefinite Carry ForwardOffsetting CompanyFuture yearsThe loss will be recognised by the Inland Revenue Department (IRD) if the loss is not declared on time, thus wasting the opportunity to save tax in the future. If you fail to file a return on time, the Inland Revenue Department (IRD) may not recognise the loss, thus wasting your future tax saving opportunities.
This is a special feature of Hong Kong's tax system. The Inland Revenue Department (IRD) will estimate your next year's profits based on this year's profits and ask you to pay tax in advance. If you anticipate a significant drop in profit for the coming year (e.g. less than the previous year 90%)WeCorp can assist you in completing the form to apply to the Inland Revenue Department.HoldoverIn addition to the above, the Government is also working to reduce cash flow pressures.
For owners of unlimited companies or people with multiple sources of income, Personal Assessment may be a way to save tax. It allows yourCompany Profit、salary及Property rental incomeCombine these and deduct personal allowances (e.g. child allowances, mortgage interest, etc.). If your company makes a profit but you have large personal allowances or mortgage interest, it's usually better to use Personal Assessment rather than Profits Tax.平We will automatically calculate whether you need to use this assessment method. We will automatically calculate for you if you need to use this assessment method.
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