We started incorporating companies in Hong Kong few years ago. Initially, we worked with French speaking clients capitalising on language skills (as our founder is Belgian and speaks French). With time we earned our reputation and clients came from various backgrounds to open companies in Hong Kong.

 

We offer “all inclusive no hidden cost” packages that provide peace of mind to our clients both to open the company in Hong Kong and to Maintain it. You pay us once a year and you know everything is done properly for you on time and as per the rules and regulations of Hong Kong without having to think about it.

 

You focus on your business, we handle the paperwork.

 

We don’t just sell accounting packages… We provide peace of mind and get the job done. We help you to open your limited company in Hong Kong and set up your legal structure

 Our service includes:

  • The filling of the papers for the incorporation (NNC1, IRB1)
  • The Green Box [Company rubber chops (Signature and Round), Company Seal, Statutory Book (and Minute book), Share Certificate Book, 10 copies of your Articles of Association]
  • The fees to pay to the government (CR: 1,720 HKD and BR: 2,250 HKD)
  • Certified true copies of all the documents required to open a bank account
  • 1 Year company secretary
  • All company secretary services at cost (change of Director, Share transfer, …)
  • 1 Year registered address
  • 1 Year Correspondence address
  • Filling of Annual Return at the end of year 1
  • We also offer you a briefing for the bank account interview to make sure you go as prepared as you can to meet the banker. This also includes a briefing on how to prepare your business plan and using our template (No worries we make it easy).

More Information? Contact us.

ATHENASIA IS DIFFERENT

Why work with us?
  • All inclusive package
  • No hidden fees – 100% transparent and complete about our services and pricing
  • Boutique customer service (talk to humans)
  • Competitive pricing
  • Affiliation opportunity
  • Really approachable
  • Clear and easy

 

This approach has earned us the trust of existing clients, countless referrals and new “shopping clients” undecided between several providers…

10639
Athenasia

Bank Account support

HKD3,000 (only for our clients)

Bank account opening

Since 2016, opening a bank account in Hong Kong has become increasingly difficult. Most of the major banks nowadays don’t even want to see small accounts or overseas owners.

 

The reasons: Banks have to follow more regulations which results in an increase of compliance with the introduction of CRS (Common Reporting Standard) of OECD and new Anti Money Laundry (AML) / Counter Terrorism Financing (CTF) introduced by HKMA and FATCA (US). Because of this increased pressure banks are now taking commercial decisions to determine whether a client is “worthy” of the paperwork.

 

Our strategy has been to double:

 

  1. Search for overseas banks in Singapore or Switzerland
  2. Work with local banks more eager to go through the compliance to get new clients.

Frequently Asked Questions

How long does the procedure take to open a limited company?

With us, you have to count around 2 to 3 working days. We don’t have differential pricing for slow versus express service, we do as fast as we can. Generally, the company will be setup in 1 day but then we have to wait for the green box. Please note that the government doesn’t work during weekends and public holidays.

Will you get me a bank account?

Concerning the bank account. At this moment, most of the banks are really reluctant to open new accounts. Over the last 11 months, we sent every client to CITIC and they were accepted. We had an account manager that knew us and was responsive but over the last few weeks we haven’t been able to schedule a single bank meeting and the account manager just didn’t reply any message.

We keep looking for options but it’s not looking good so far with HK banks. We looked overseas… In Latvia, Estonia, Cyprus, Taiwan but they all seem to require an endorsement letter from our client’s current bank (which our clients obviously don’t have as they are newly incorporated).

We keep looking for you but here is what is possible NOW:

There is a new FINTECH company call NEAT that provides a current account with MasterCard. They just released their Beta version for Business yesterday (They invited Laurent as a speaker). We know the CEO and BD personally. They have all the required licenses and they work together
with Standard Chartered to provide the corporate account. They are basically going after all the clients that most of the banks don’t want to work with.

Here is the Key advantage of NEAT Business:

– The account can be set up remotely (Yes you read well, no need to travel to Hong Kong)
– Support Paypal, Stripe, and Amazon (although we wouldn’t recommend doing a direct transaction from Amazon to an HK account directly because of Amazon exchange fees).
– Get up to 10 MasterCards for you and your teammates. You should know that HK banks don’t propose any debit cards to their clients
– Opened in just a few business days
– Integrates with Xero
– The lowest credit/debit card FOREX fees in Hong Kong (1.5% on top of mid-market exchange rate)
– This company is only deposit-taking, they don’t gamble with your money and don’t provide insurance, investment…
– User friendly

They are not yet 100% sure of their pricing but from what I heard so far, it should be around HKD299/ month (about US40). It’s the same as what HSBC would charge you if you don’t maintain your minimum balance.

From now on we will send all our clients to NEAT. We know them personally and we can help you to get direct access to the Beta version by connecting you with them.

More information here: business.neat.hk

Can I sponsor my visa with my company?

No, you won’t be able to get a working visa from your company. If you want a visa you will have to apply for a Business Investment Visa. We can put you in touch with an expert for more information.

One of your competitor is charging 800 HKD for the company setup why you are charging me that much?

HKD 800 is impossible to get a full package because just the government fees are about
HKD4,000

We choose to give our clients a “full price” so that they know exactly how much it will cost them. Some of our competitor prefers to attract clients with a really low entry price that they generally call “the cost of their service” and after charge all the rest independently (which generally include markup as well).

The issue is that you never know how much it’s gonna cost you. Our clients tend to value transparency and like to know the cost upfront without hiding anything.

We are even one of the really few consultant that inform you of the ongoing costs of your Hong Kong company.

I want to open an offshore company and pay 0% tax

Well, there is no such thing as an “offshore company”. No matter you are in or out Hong Kong you will operate with the same structure a “Limited Company”. Now, what is possible is to claim offshore tax exemption on your profit under the argument that your profit have been realised exclusively outside Hong Kong (You have no operations, no contract signed, basically nothing in Hong Kong). In this case, you won’t have to pay tax in Hong Kong. But be careful it is not the equivalent of paying 0% tax. It just means your profit has not been taxed yet.

Please keep in mind that claiming the offshore tax exemption can be costly and there is no guarantee. Furthermore, by proving you have no substance in Hong Kong you let the door open for other jurisdictions to ask you to pay profit tax on your profit in their countries. We advise you to have a good international tax lawyer if you want to go this path.

I don't live in Hong Kong, can I open a company here?

Yes, you don’t have to be Hong Kong resident to open a company.

What is the corporate tax rate in Hong Kong?

16.5% but Hong Kong government is currently discussing to bring it down to 8.25% for the first
HKD 2 million profit per year.

Testimonials