1101, CMB Wing Lung Bank Centre, 630-636 Nathan Road, Mongkok, Kowloon. (Mongkok MTR Exit E2)
​Tel: 2388 1161                 Fax: 2388 3689               Whatsapp: 5430 0789           Email:info@shumlaw.hk
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Shum Law Corporate Services Limited

岑 羅 專 業 服 務 有 限 公 司

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Related Services

Unlimited Company Incorporation

 

There is unlimited liability for the owner of the company as all risks of business operation and liabilities should be borne by Proprietor or Partners. In case of bankruptcy, the creditors have right to claim against the private assets of proprietor or partners. 

 

 

 

 

Business Registration Fee: HK$2,250
Our Service Fee: HK$1,000*
Time Required:  About 4-5 working days
Documents Included Business Registration Certificate   

 

Limited Company v.s. Unlimited Company

Sole proprietorship

Partnership

Corporations

No. of owner(s)

1 Member

2-20 Members

1-50 Members

Legal status

No legal status, one can only own assets and sign contracts in proprietor's name

No legal status, one can only own assets and sign contracts in partner's name

Have independent legal status.

Debt and liability

Unlimited liability, proprietor faces risk of personal liability or even bankruptcy.

Unlimited liability, partners face risk of personal liability of even bankruptcy.

Liability of shareholders are limited to issue shares.
Company liquidation normally not affect individual shareholders.

Tax issues

No statutory audit is required. Private expenses such as Proprietor’ and  spouse’ salaries are not tax deductible.

No statutory audit is required.  Private expenses such as Partners and spouses’ salaries are not tax deductible.)

Annual statutory audit is required.  Directors’ remuneration are tax deductible.

Others

Pay Business registration fee per year.

Pay Business registration fee per year.

Pay Business registration fee and annual return fee to  Companies registry per year.

 

 

 

Fees:

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Procedure of Setting up of H.K. Unlimited Company:

 

  1. Client fills in the application form and sends to us with copies of identify card/ passport and address proof of proposed proprietor, partners or agent by fax or email.
  2. We will contact the client in order to confirm all required information has been provided.
  3. Client pays the service fee by cash or bank transfer to our bank account.
  4. We will prepare required documents in 1 working day.
  5. Client comes to our office to sign the documents, or instructs us to send the documents to the designated place for signatures (*).
  6. We will then submit the required documents and fees to the governmental department; after that, we will notify the client to collect the relevant documents.
  7. Client could open the bank account with provided minutes and Certified True Copies of all relevant documents.

Remarks: (*) For specified industrial/commercial area only, otherwise, client should bear the courier fee.

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