Setting up a company

[hongers]

I need to set-up a company in HK as I will move into an IT contracting role. Does anyone have any experience of this and if so how do I go about it? Alternatively, can anyone recommend a good accountant who can advise on this?

Many thanks

[MovingIn07]

Firstly - check you really need a company. I believe PDLM has posted information on a previous thread that highlights for contracting all you need is Sole Proprietorship. This thread had details: http://www.geoexpat.com/forum/26/thread103621.html

Secondly, if you really do need a company, setup costs seem to be circa HKD 5000 + company secretary + registered office costs if you need them. Takes 2 weeks or so from scratch or a few days to buy a shelf company (same price).

[dipper]

I think what MovingIn07 means to ask is whether you need a limited company, which you probably don't at this stage. For a sole proprietorship it's just a question of popping down the registration office.

Details here: "Business" Required to be Registered and Application for Registration

[PDLM]

You do, of course, have an Immigration status that will allow you to do this?

[hongers]

I have a working visa until the end of next year which I'm being told by my new employer they can switch to them. The company would purely be to receive in the salary from them to me
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[PDLM]

Nope - I don't think that's not how it works. For an application for a transfer of sponsorship I'm 99.9% certain must be an employee of the new sponsoring company.

[Football16]

Be very wary of this transfer as PDLM notes. You will need to meet HK Immigration rules for setting up a new company and IT is not something that locals aren't expert in. You must hire local people and one issue is why are you needed instead of a local. Not simple as you seem to be told it is.

[hongers]

To clarify, the visa will be switched from my current employer to the agency in HK. They put into place the employer/employee contract. They also take care of the visa switch.

My agency back in the UK contract both with them and the end client. My question is still whether I need a company in HK but it is sounding like I don't.

For info I'm in a niche IT field with only a handful of people in HK with this experience

Thanks
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[dumbdonkey]

For info I'm in a niche IT field with only a handful of people in HK with this experience

care to elaborate on this

[hongers]

Not at this stage.

I've been advised that there is no need for a ltd company in HK as is the case in the UK. The contract will be on an employment basis with the agency.

Appreciate the advices