This is the grey area i have never been able to find clear cut answer to, on the one hand IRD has put the guideline without due diligence/ subsequent follow-up and other hand there are probably thousands of employee/agents taking advantage of this loophole.. Imagine small-time freelancer from construction worker to anything else, obviously they are not going to register a business and keep track of things.. From personal experience, agents in other fields are also using this loophole to control cost.. Obviously, i am not saying you should do that especially when you are on dependent visa and yet to apply for PR.. IIRC there was a time when ImmD used to ask for MPF statement as part of supporting document when you apply for unconditional stay just before HKPR, i hear process is much simpler these days but then again its not my place to say what you should or should not do..
To be on safe side, you might want to ask MPF provider if it is possible to open self-employed MPF account without registering a company, haven't checked this part myself..
Thanks - it seems like there’s a lack of clear cut guidance because.... there’s no clear cut rules. I will follow what the accountants have said. I only plan to freelance / contract for 6 months, and then return to perm employment.