Hi
Are all self-employed in HK require to establish unlimited companies? Could one register for sole-proprietorship without an unlimited company?
Thanks
Hi
Are all self-employed in HK require to establish unlimited companies? Could one register for sole-proprietorship without an unlimited company?
Thanks
1) Sole proprietorship ( Single person)
2) Partnership ( Minimum 2 persons)
3) Ltd co ( Maximum 50 shareholders for private company)
the first 2 are exposed to unlimited liability
Ltd company liability is limited to the paid up capital.
LLC is not recognized in HK.
I may be wrong. May be some one else can correct me.
FYI, registering a company and opening a bank account should be done after commencing your business. I think you can register up to a month after your first business transaction or signing of contract. If you don't have proof of business activity, it'll be hard to open a bank account.
You will also have to file tax, even for 1-2 years after you close it, and keep the documents for even longer than that