China Business Services blog including WOFE set up, monthly China accounting and taxes in China | Hongda

May 23, 2022

Risks & Tips for Opening A Hong Kong Bank Account Post-Covid

Let's say you have a WFOE in China and you now want to open a Hong Kong company and business bank account for it. This has been quite challenging in different ways since around 2012 when stricter anti...

January 20, 2022

Top 4 Alternatives to Opening an Offshore Bank Account for Hong Kong Companies

Considering the territorial advantages of Hong Kong, it comes as no surprise that the majority of WFOE owners choose to open a Hong Kong corporate bank account.

January 5, 2022

Hong Kong’s FRC Gains New Powers

Hong Kong’s Financial Reporting Council has gained additional powers following the passage of the Financial Reporting (Amendment) Bill by the Legislative Council. Read on to explore what has changed.....

Man Using Online Banking Application On Laptop With Account Closed Message On Screen

February 23, 2021

Hong Kong Business Bank Account Closure: Why and How to Avoid It

After incorporating the business in Hong Kong, the next thing on the to-do list is to open your corporate Hong Kong business bank account. But with the increasing pressure to combat money laundering, ...

February 11, 2021

Hong Kong Corporate Bank Account Opening: Requirements & Costs [2023]

Once you have completed the steps to register your company in Hong Kong, you may start considering one of the Hong Kong banks for setting up your corporate bank account. Unfortunately, being able to o...

December 8, 2020

Uncover the True Cost to Set Up & Run Your Hong Kong Company [2021]

Does this sound familiar to you? You have just opened your Hong Kong company only to find out that you need to pay yet more fees in the future that you had no idea were coming. Unfortunately, this hap...

April 23, 2020

Accounting and Auditing for COVID-19 Risks for Hong Kong Companies

The coronavirus (COVID-19) outbreak has substantially impacted the global economy and has challenged almost all businesses in the Greater China Region. Given the recent travel restrictions and special...

March 5, 2018

HK Companies! Create A Significant Controllers Register By 3/31/18.

A new regulation regarding Hong Kong company ownership records came into force on March 1st 2018. Every HK company MUST create an up-to-date 'Significant Controllers Register' (showing who owns the co...

November 30, 2017

Should You Open A Hong Kong Shell Company To Set Up A WFOE In China?

We're often asked if Hong Kong company registry is necessary as a prerequisite for setting up a WFOE in China. Many rumours and anecdotes are floating around about if this is a good idea for foreign i...

November 22, 2017

Why An Offshore Business Bank Account In Shenzhen Is An HK Alternative

It's no secret that it remains difficult for Hong Kong companies to open a business bank account in Hong Kong! So if this is affecting you, do you quit, or is there another way? Luckily you can now op...

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