Dear Valued Customers,
This year is flying by! We are already in the month of October, and we have some exciting updates to share with you.
Congratulations to ACCA on 70th Anniversary in Hong Kong
The 3E Accounting team would like to congratulate the Association of Chartered Certified Accountants (ACCA) Hong Kong who celebrates its 70th anniversary this year. ACCA is marking the memorable occasion this year with a special mosaic art piece that involves its members, future members, employers, business partners and the public. We are proud to be ACCA Approved Employer and contributing our wishes to the mosaic art piece.
Incorporating in Hong Kong Has Its Advantages
Did you know that incorporating in Hong Kong has its advantages? It is one of the most popular business hubs in Asia due to its business-friendly environment. By starting your venture here, you enjoy low corporate tax rates, strategic location benefits, and a stable economy to build a thriving business. Not forgetting the developed infrastructure too. For all these reasons and more, Hong Kong is a prime location for any entrepreneur looking to expand and invest in this region.
Hong Kong’s Stamp Duty Ordinance Sees New Amendments
Since 1 August 2020, the purchase and sale of stocks in Hong Kong were exempted from stamp duties. This includes stocks that involve ETF activities and pertains to the redeeming and allotting of ETF units or shares. If you are participating in this market, you should note that the new amendments could affect the purchase and sale of Hong Kong stocks by the EFT market maker, including purchases made by the EFT participating dealers.
Licensing Your Business in Hong Kong Is Important
It may be easy to overlook this step when setting up your business. In fact, many investors tend to forget all about it. But getting your business licence is an important criteria for setting up your company in Hong Kong. This ensures your business has fulfilled all the local regulatory requirements. Failure to meet business and regulatory standards may mean that the authorities may enforce the closure of your company. You should always get a professional opinion to ensure that you have all the licences to be on the safe side. If you have any enquiries, you can always reach out to us, your qualified Hong Kong incorporation service provider.
The Digital Accountancy Forum and Awards 2020
This year, the Digital Accountancy Forum and Awards will be held virtually on 30 September 2020. Among the 10 Corporate Award categories and 3 Individual Award categories up for nomination, I am honoured to be the nominated Finalist in 2 Awards categories. The categories are the Young Accountant of the Year and Lifetime Achievement Award. I will continue to give my best to support my clients. Thank you for your support!
Until next time, stay safe everyone!
Thank you.
Lawrence Chai
Founder, 3E Accounting Group
Read More in our E-Newsletter October 2020.
