No, you don’t have to hire an accounting firm in Hong Kong.
Outsourcing your accounting to a firm helps to ensure that your records are kept properly, and that you are protected in the scenario of an audit.
That’s why we always recommend setting up your business for success by hiring a professional agency.
While you technically do not need to combine your secretary and accounting, it is the simplest and most effective way to run your business, which is why most agencies offer both services in the same package.
Doing so will allow you to improve the efficiency of your business by keeping everything organized under one roof.
This means that when you get important letters from the government, the accounting firm will receive them, read them, and advise you on the best course of action.
This is especially vital when important documents are sent to you, such as the Business Registration Renewal Demand Note and tax letters like Employer’s Return or the Profits Tax Return.
Under the Companies Ordinance, all Hong Kong companies are required to prepare audited accounts annually.
Hong Kong Inland Revenue Department (“IRD”) also requires Hong Kong companies to submit Profits Tax Return together with Audited Financial Statements and Profits Tax Computation.
Our independent affiliate, Korchina TNC CPA Limited, is a registered CPA firm under HKICPA. Korchina TNC CPA Limited provides audits that are high-quality, well-priced, and (most importantly) that fulfill their legal and tax filing requirements.
Contact us now to hire accountancy services in Hong Kong.