Online accounting in Hong Kongfrom 39$

Preparation and filing of annual financial statements and tax returns.

Declaration of profits from sources outside Hong Kong for tax exemption.

Ensuring 100% compliance with the Hong Kong Inland Revenue Ordinance for your company.

Accredited by Hong Kong Registry of Companies TCPS №TC007080

Official partner of Xero – accounting platform №1

Over 50 filed and proven reports under the Hong Kong territorial principle of taxation.

Choose a service package for business registration in Hong Kong

Choose your monthly turnover

Multicurrency accounting of all transactions in Xero according to the tariff
Automated system of primary documentation transfer
Сhecking the availability of primary documents for each transaction
Monthly management reporting
Setting up master schedules and dashboards
Unaudited annual financial statements (when paying for the whole year).

Who our service is suitable for

Companies whose source of profit is located in Hong Kong. Pay income tax under Hong Kong’s two-tier taxation system

Companies deriving profit from sources outside Hong Kong. Use the right to exemption from tax on company profits according to the territorial principle of taxation

Companies wishing to keep up-to-date accounting of economic activities. Reflection of postings on the fact of transactions.

Companies wishing to do accounting by the restore method. Reflecting entries upon completion of the fiscal year.

The benefits of keeping up-to-date company records

Minimization of risks in the company’s work process
Current financial position of the company to make informed decisions
Reducing the time required to conduct an annual audit by half or more
Full compliance with reporting deadlines and no penalties for violations
Reducing the cost of the annual audit by up to 40%
Availability of interim financial reports without costs
Reputation as a reliable counterparty for banks, investors and partners

Our official partners

The Xero accounting platform

The №1 cloud-based accounting software.
Ability to integrate with Airwallex
800 integrations with other banks and services
A wide range of dashboards for company finances
Convenient accounting functionality
Automatic generation of reports
Online invoicing of counterparties
Secure database

11 Steps to Closing the Fiscal Year in Hong Kong

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We give you advance notice of the upcoming annual tax return filing deadline.

You send us a bank statement of the company’s account for the relevant fiscal year.

We contract with you to prepare your annual financial statements, conduct an audit, file your annual tax return and apply for the territorial tax exemption.

We proceed to the preparation of the company’s annual financial statements. If necessary, we request explanations of transactions and documents. We provide the prepared Balance Sheet, Profit and Loss Statement, Cash Flow Statement for approval by the Director of the company.

The director of the company approves the annual financial report.

The auditor conducts an independent assessment of the financial statements and forms an auditor’s report. Requests the necessary documents on the company’s activities.

The prepared auditor’s report is presented to the company’s shareholders and the Board of Directors for review.

The company’s shareholders and board of directors sign the audit report and send it to us.

Based on the data in the approved audit report, we prepare an annual tax return on the profits of the organization.

If the company’s profits stated in the Annual Financial Statements are made outside Hong Kong, we will prepare a Statement of Application for Territorial Taxation Principle.

We file the Annual Income Tax Return, Auditor’s Report and Application for Territorial Taxation with the Hong Kong Inland Revenue Department. We provide you with proof of filing.

10 steps to perfect company accounting

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Why more than 150 companies have chosen us

Step 1 of 7

License from the Hong Kong Company Registry

We are a corporate secretary authorized by the Hong Kong Company Registry (license TCPS No. TC007080) to provide corporate services.

Step 2 of 7

The official partner of Xero online accounting system

We provide you with the first six months of free Xero license. We install, set up and do accounting.

Our team

Leave an application now and get a PDF file with the basic principles of territorial taxation system

Structure of a company’s financial statements in Hong Kong

Income tax return

Balance sheet

Profit and loss statement

Statement of cash flows

We serve customers from more than 30 countries

China, India, UK, France, Spain, Venezuela, USA, Switzerland, Austria, Finland, Germany, Mexico, Australia, Thailand, Cyprus, Vietnam, Bangladesh, UAE, South Korea, Indonesia, Montenegro, Argentina, Chile, Brazil, South Africa, Canada, Kazakhstan, Russia, Ukraine, Moldova, Turkey

People say THANK YOU for our services

1 / 12

Impera Group

At first it was difficult for us to find out where to open a company aimed at international sales of rentals of premium villas. Our villas are located in the most picturesque places of our planet and our clients are also from different parts of the world. Hong Kong was a perfect fit for our business, and the experts at Vita Liberta made our business start-up quick and enjoyable. It took literally little more than a week to open our startup and account in Hong Kong. And best of all, everything is online. Amazing service.

2 / 12

Astrea Translations Limited

Our translation company works all over the world and we needed to identify the most convenient and central location for our operations. That’s how we got to know Hong Kong and completely fell in love with this beautiful place. Vita Liberta helped us right from the start with expert advice on everything we were interested in, as well as with opening a Hong Kong account, setting up the bank and also helping with any questions regarding our legal entity service. We are grateful to the staff at Vita Liberta for their professional approach and human attitude.

3 / 12

Mamatov Health Club

It took only three days to register a business and open an account. Impeccable service. We got up to speed quickly in Hong Kong and started accepting payments the following week. Now our online courses are sold all over the world.

4 / 12

GLT Ventures

Vita Liberta is a reliable partner for life. We have been working for a long time and every service has been provided in full accordance with the agreement. We trade with suppliers from different countries and our company already has a reputation in the market and trust.

5 / 12

Insilico Medicines

We have repeatedly ordered the apostille of documents for our company, drafting and legalization of powers of attorney. Vita Liberta employees were always responsive and did everything on time.

6 / 12

Sesana Limited

I have been working with this company for several years now, and I can say with confidence that Vita Liberta is a reliable partner, thanks to which the company has been working successfully for several years. That says a lot.

7 / 12

AC Inorms Group Limited

I had been planning the expansion of the business for quite a long time, and the topic required detailed elaboration. I repeatedly met with an employee of Vita Liberta to discuss the key issues of the future company. Thanks to clear explanations, it was possible to build a clear business model in Hong Kong. And when I was finally ready to proceed, the deadline was already tight, but nevertheless we managed very quickly. Thanks to the team for Vita Liberta’s responsiveness and speed

8 / 12

Synthesit HK Limited

Prompt service, clear and to the point. We chose Hong Kong for our business. The company’s staff helped us understand the particularities of the tax regime and the stages of registering the company. A week later everything was already done.

9 / 12

HRC Management Group Limited

We entrusted business registration in Hong Kong to the Vita Liberta team. Excellent service. Specialists with great experience and qualifications, always in touch. We continue to cooperate and recommend Vita Liberta to all entrepreneurs we know!

10 / 12

Shavcor Group Limited

We decided to expand our business. Vita Liberta employees gave us detailed advice on the specifics of working in Hong Kong, answered all our questions and fully supported the registration of the company. We consider Vita Liberta to be a reliable partner who can be trusted to support our business.

11 / 12

Bresa Limited

The competence and efficiency of Vita Liberta representatives leaves no doubt. They accompanied the opening of our company in Hong Kong quickly and without stress. I would also like to highlight the transparent pricing policy and honest approach.

12 / 12

GESKO Limited

Vita Liberta Group provided us with the service of registering a company GESKO Limited in Hong Kong and opening an account in the payment system.

Thanks to qualitative consulting and support, the registration procedure was successful. It is also worth noting the qualified employees, who promptly responded to emerging in the process of registration nuances.

We have only positive emotions from working with Vita Liberta Group, therefore we recommend them as reliable performers of the services rendered.

Frequently asked questions

What reports must my company file in Hong Kong and when?

Limited Liability Companies in Hong Kong are required to file an annual Profits Tax Return (BIR51). Newly incorporated companies must file their first Return 18 months after incorporation. The declaration must be accompanied by the following documents:

Annual financial statements (balance sheet, income statement, cash flow statement, explanatory notes, tax calculation statement).
Auditor’s report on the annual financial statements.
If there are grounds for application of income tax exemption – Statement of the right to apply the territorial principle of taxation.

Is it necessary to maintain accounting on a daily (monthly) basis?

There is no such need. You can choose the way that is most convenient for you. Daily (up-to-date) accounting is suitable for companies that are active. If the business has few operations, you can dip into finances once a year and prepare financial statements at the end of the financial year. However, it is important to keep all primary documentation throughout the year and to comply with all statutory deadlines.

Is an audit compulsory in Hong Kong?

Yes, under the Companies Ordinance (Section 405) all Hong Kong companies are required to have their financial statements audited annually and submit it to the Inland Revenue Department along with their tax returns.

What documents are needed to prepare the annual financial statements?

As a rule, these are: bank statements from all accounts of the company, contracts, invoices for payment. All documents must be kept by the company for seven years from the date of the transaction.

Is it true that there are no taxes in Hong Kong?

Hong Kong adopts the principle of territorial source taxation. Only profits which have their source in Hong Kong are taxable. Profits from other sources are not subject to tax in Hong Kong.

Profits from Hong Kong source are taxed under the two-tier system: 8.25% on the first 2 million HKD of taxable income and 16.5% on the rest of the taxable income.

How does the Inland Revenue Service know that our profits came from a source outside Hong Kong?

Every year the company submits a tax return to the Hong Kong Inland Revenue Department, and along with it an audited financial statement. If there are grounds for application of income tax exemption in Hong Kong, the company prepares and submits a statement of eligibility for exemption on the basis of territorial taxation. The Inland Revenue Department analyzes the submitted documents. If there are no questions and doubts, the Department issues a letter confirming that the company’s profits are not subject to taxation. If there is reason to doubt the accuracy of the determination of the territory of the source of profit, the Inland Revenue Department sends a request for additional data. After analyzing the information provided, a decision is made, which is also recorded in a separate letter.

Learn more about financial statement

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Dec 04, 2024

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Nov 17, 2024

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