Disclaimer of Warranties and Liabilities
The information contained in this website is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in information contained in this Site. Accordingly, the information on this Site is provided with the understanding that the authors and publishers are not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisors. Before making any decision or taking any action, you should consult a Global Corporate Advisory Pvt. Ltd. professional or your competent professional.
Stephen is operated by STEPHEN M.S LAI & CO. CPA LIMITED. It is an incorporation service website which designed to enable you to form your own corporation. In this website, we inform you the general guidance of interest only. The application & effects of laws can vary broadly on the particular fact included. Stephen serves in as coordinator and incorporation while submitting printed material to the Companies Registry or organization documenting office. Stephen is not a law firm, and neither Stephen nor any of its workers or partners gives lawful administrations or legitimate meeting. Advance, no portrayals or guarantees, communicated or inferred, are given with respect to the lawful or different outcomes coming about because of the utilization of our administrations or structures. Hong Kong is a perfect place to start your international business to earn effectively. As per the information on this website is offered with the understanding that the authors are not engaged in rendering accounting, legal, tax or any other professional services. As such, it should not be utilized as a substitute for a conference with expert accounting, charge, lawful or other skillful advisors. Before making any decision you should consult a Stephen M.S Lai & Co. CPA Limited professional or your skillful and competent expert.
The liability of Stephen is limited only to amounts paid to Stephen M.S Lai & Co. CPA Limited. If you are not satisfied with our services at any point, please first contact us on firstname.lastname@example.org.
Stephen will not be responsible for any fines, penalty or different liabilities which are brought about by the company and the client. The Client acknowledges a full responsibility to pay these and compensate Stephen against any liability in regard to the same.
All the instructions and request which concerning the undertakings of the Company should be given by the Client in keeping in touch with Stephen. Stephen may, at its sole tact, consent to make a move on any instructions & demands given generally than in writing just on the express understanding that Stephen should not be at risk in regard to any misconception or error with respect to the same.
Stephen should not be liable for any inability to go along completely or in part with any instructions gotten from the Client and might not be in charge of results emerging from non-receipt of directions for any reason.
The Client might repay and hold innocuous Stephen, its members and their officers, directors, agents and employee from and against all cases, activities, costs and liabilities emerging out of or identifying with these Terms and Conditions and the Services given to the Company.
The company will not be held liable for loss, damage or theft of any items sent to the client whilst they are experiencing the postal service.
We are not approved by the Financial Services Authority to running Investment Business. If you want investment business services then we will suggest you to an authorized firm by the financial services authority.
Charges for interactions with government elements which include law enforcement & policy are additional and following lawful necessities to produce documents or give declarations. Click here for more information.
We may, from time to time, hold money on your behalf which is regarded as prepayment of our services. We will issue debit note and record properly your payment to Stephen. We will not receive any payment exceeding an amount of $ 5,000 USD.
PROCESSING TIME FOR ORDERS:-
When there is a high volume of orders, processing time may take longer than stated on either government or our own website. Stephen cannot guarantee processing time, which may be delayed for various reasons. E.g. if a company name is taken, a similar name already exists, or a name is highly unusual. Orders may also be misplaced or misfiled by government offices.
By utilizing name which could give the feeling that a Hong Kong organization is associated with the Government or any administration office is strictly authorized.
Expressions and words requiring the Companies Registry’s prior approval:
Chamber of Commerce
Final company name endorsement is known until the government makes the approval without objections. The company name is not something Stephen controls, therefore; we can’t ensure the organization name until it’s affirmed.
We cannot give assured that any overnight courier will dispatch on time such as FedEx or DHL. We can help in contacting that courier for a refund of shipping charges when the overnight courier is misplaced or delayed.
CLEARANCE OF FUNDS
When the funds are clear then we can further process the order. We can accept the payment in credit cards and PayPal. Checks clearing including Electronic checks such as PayPal eChecks, mailed checks, faxed checks or wire transfer payment take longer.
TERMS OF SERVICES AND TERMINATION RIGHTS
Cancellations of order
If you want to request for refunds please email us at email@example.com
Incorporation service cancellation: Money paid to Stephen that has already been paid to the Companies Registry for filing fees or to suppliers is not refundable. When the certification of incorporation is issued and you canceled your order after payment then this action has been taken by Stephen, who will refund 40% of the amount paid to Stephen M.S Lai & Co. CPA Limited. When the certification of incorporation is issued and you canceled your order after payment then this action has been taken by Stephen, Who will refund 0% of the amount paid to Stephen M.S Lai & Co. CPA Limited. If the money paid to Stephen who has already been paid to the companies Registry for filing fees or to suppliers is not refundable.
No refund will be made for annual service fees, if the client end t he services or want to change service provider prior to the 1 year of services.
If any employee of Stephen receives from your side any form of verbal and physical abuse then the company stop the services immediately and the client will responsible for paying all fees due to the company which includes costs, expenses, and payments suffered at the time of termination.
Requests of company records, AGM (Annual General Meeting), Profit Tax Return filing, annual return, mail forwarding. Documents are certified by CPA; Apostille, Notary Public, company registry or company secretary. Services as ND2B, NSC1, NAR1, ND2A, NR1, any CR documents and resolution of directors. Any CR or IRD documents which should be filled by Stephen such PTR (Profit Tax Return) BRC or employee/employer return. Ordered stamps, metal steals, transfer of shares, company de-registration and preparing an instrument of transfer. Any of these services after making a payment will not be refunded because of the large amount of work we spend on each case.
Offshore bank account opening, KYC (Know Your Client), after the payment is made and client canceled the order then Stephen will refund 40% of the paid fund to Stephen. If the order is canceled after the introduction has been made to the offshore bank, then Stephen will refund 0% of the amount paid to Stephen M.S. Lai. Co. CPA Limited.
Termination of services
Stephen M.S. Lai. Co. CPA Limited shall be authorized by written notice for a stop to provide the Services, if:
The Clients or the Clients’ Appointees in the sensible opinion of Stephen which fail to observe to the fullest extent these Terms and Conditions;
In case of the death of the Client, incorporating into the instance of joint people, the death of any one individual, and the Client fail or have neglected to make satisfactory arrangement for the disposition of the issues and the client ship of the Company;
In the event that any legal proceedings are commenced against the Company, the Client or the Client’s Appointees (including any injunction or investigative proceedings).
In any of the situations which are described above, Stephen maintains all authority to take action in accordance with remain above and to regard these Terms and Conditions as terminated without further liability with respect of Stephen.
Stephen may at its consideration stop to give the Services if the Client neglects to observe to all potential limitation these Terms and Conditions without notice.
CORRESPONDENCE FROM THE GOVERNMENT AGENCIES
Government agencies sent mail to your company at the registered agent’s address is forwarded free as a major aspect of our Registered Agent benefit. Please note, however, that the Registered Agent’s address does not in this way turn into the company’s business address. Unless you have particularly connected with us to forward your company mail (other than government communications as noted), and proper legitimate paperwork is recorded, a Stephen address may not be utilized as your business address. The fee of business registered address has joined to the expense of company secretary, so the fee of business registered address is $0 US (Free of Charge). What’s more, it is just accessible on the off chance that you utilize our organization secretary benefit in the meantime. Something else, mail sending administration begins at $475 USD every year including $ 95 USD credits for checking and delivery administrations.
To clarify: All mail sent to your company but always addressed with our registered agent name, then notification of received emails will be sent to you. We offer one-time mail forwarding service by charging $95 Expedite delivery or $ Hong Kong Registered Post.
If you mail addressed with your company’s name but sent to our address it represents unauthorized use. For all unauthorized mail, you have to utilize our mail forwarding service which starts at $475 USD.
File destruction: While certain reports may legitimately have a place with you and are gotten to Stephen address and you won’t prepay mail sending an arrangement, we claim all authority to deny any letter for you company behalf. Further, we plan to destroy any business correspondence and different papers that we store that are over three months old, other than reports which we think might be of proceeding with essentialness. In the event that you require the maintenance of any record, you should inform us of that reality in composing.
We would exceedingly recommend you to enroll your mail sending business service which keeps you refreshed on yours incoming mail. It’s to your greatest advantage to ensure that all documents are legitimately gotten and you’re informed.
If you have not arranged mail sending arrangement, we will notify you about yours business mail and request that you arrange the mail sending arrangement.
RENEWAL AND COMPANY DUTIES
Since we email all notifications in regards to yearly contribution and charges, change of status, and so on, it is every client’s duty to keep up a right and current email address in our records. We don’t post any notifications by printed version mail.
Taking after services must be reestablished each year inside 30 days before the one year of the organization: organization secretary/specialist, registered address, mail sending and business number, AGM ( Annual General meeting), yearly return – NAR1, BRC (business registration certificate), any chosen one directors/shareholder services, The company registered address, mail sending, accounting, and so on.
We send you the update on the recharging 1 month before the anniversary day; it’s your duty to contact early to restore all services to stay away from government punishments for late filings. In case you don’t receive our receipt please get in touch with us 1 month before the anniversary day of the organization.
The responsibilities and liabilities of directors get from different sources, including the constitution of the organization, case law, and statute law. If a person does not consent to his/her obligations as directors he/she might be at risk to common or criminal procedures.
The general standards of directors’ obligations:
– To act in accordance with some basic honesty for the advantage of the organization as a whole Duty to act in compliance with common decency for the advantage of the organization all in all,
– Not to delegate powers aside from with legitimate authorization and obligation to exercise independent judgment,
– To exercise care, ability, and attentiveness,
– To maintain a strategic distance from con icts between individual interests and interests of the organization,
– Not to go into exchanges in which the directors have an enthusiasm aside from in consistency with the prerequisites of the law,
– Not to pick up benefits from utilization of position as a director,
– Not to make unapproved utilization of organization’s property or data,
– Not to acknowledge individual benefit from outsiders presented in view of position as a director,
– To observe the organization’s constitution and resolutions,
– To continue accounting records.
For more information about Director’s Duties, please visit: _______________________________________________________________________________
NOMINEE DIRECTOR/SHAREHOLDER SERVICES
Nominee Director/Shareholders service implies that you (shareholder/owner/ultimate beneficial owner/member) pick us as your company manager/officer/director/shareholder. Our service is exceptionally restricted. We don’t response to your clients, open any bank accounts, employees, institution, any third party, banks or sign contracts. We can also give a power of lawyer to your representative to follow up in the interest of the company. Complete agreement is situated here and you consent to with the terms when utilizing the nominee service. In the event that we get grumbles from your clients or sign that any exploitative or unlawful movement by your organization we will instantly document change the executive/shareholder with your data as in our records. You will be charged for the progressions as the costs emerge.
ANNUAL GENERAL MEETING
(i.) Each & every limited company is required to conduct a General meeting.
- Directors or individuals may choose auditor whenever before first yearly broad meeting CO s 395(2). For ensuing monetary years, auditor to be named by individuals at an annual general meeting for going before money related year CO s 396(1). If auditor appointed designated by individuals under CO s. 396, then regarded to be reappointed CO s 403.
- The Company must hold annual general meetings within 9 months after the end of applicable financial year CO s. 610(1). If an annual general meeting is for first accounting period and such period is longer than 12 months, then the organization must hold the annual general meeting inside 9 months after the first anniversary of joining or 3 months after the end of the budgetary year, whichever is later CO s. 610(2).
- Company’s first financial year begins on the date of incorporation and closures on the date indicated by directors within 18 months of such date, or on a day ago of a month of the first anniversary of company’s incorporation if directors do not so determine CO s. 368(2), 369(5) to (7). Each resulting financial year is 12 months after the end of the earlier financial year CO s. 368(3).
(ii.) COMPANY IS NOT REQUIRED TO HOLD GENERAL MEETING (See CO s. 610, 612)
- Directors may select reviewer for first financial year before arrangement period for next financial year (the arrangement time period is the 28 day term beginning on the date announcing records are sent or should be sent to organization’s individuals under CO s. 430(3) or 612(1)(b)) CO s. 395(3)). For ensuing financial years, evaluator to be named by determination at general meeting before arrangement period for next financial year (the arrangement is the 28 day term beginning on the date reporting documents are sent or should be sent to organization’s individuals under CO s. 430(3) or 612(1)(b)) CO s. 395(3)) CO s. 396(3).
- See III.b.i.3 above re CO provisions on a start of each financial year of the company.
(iii.) Above timing applies for most private limited companies. Diverse provisions apply for listed companies, public limited companies and certain subsidiaries and holding company. CO also contains extra provisions in regards to company’s capacity to change the end of its financial year and the substitute of any auditor during his/her/its arrangement.
ANTI-MONEY LAUNDERING AND COUNTER TERRORIST
The directors of the company should be very familiar with Anti-Money Laundering and Counter terrorist financing instructed policy, which is published by the institute in May 2008, we are available at http://www.hkics.org.hk/index.php?_room=10.
COMPLIANCE WITH LAWS AND FINANCIAL CRIME COMPLIANCE
Stephen is carried to comply with Laws including relevant financial crime compliance consistence laws and regulations, for example, those identified with anti-money laundering, anti-bribery, and corruption. As our capacity to follow all Hong Kong Laws, is directly connected to the conduct of our clients, we required our clients to consent to all applicable Hong Kong Laws, and direct their business in a manner which will not place the clients in breach of all applicable Hong Kong Laws.
We may ask for and get data from our clients as well as public sources or third parties to determinate the Due Diligence of the customers (people and companies) under all appropriate Hong Kong Laws. In the event that clients don’t give every single asked for the report, we won’t handle the organization development benefit. The development of which is by enlistment under the Companies Ordinance and should in this way agree with various conventions. In the event that the organization neglects to follow any of the required conventions, punishments will happen and Stephen will stop all services to our customers and will tell the Company Registry and Inland Revenue division that Stephen has surrendered from the Company secretary position and stop the registers address. The suspension of the address is directed to the Company Registry and Inland Revenue Department.
COMPLIANCE- COMPANY’S RESPONSIBILITY
Company Registry & Inland Revenue Department Prosecution Policy
The Inland Revenue division and the Registrar of Companies and are in charge of authorizing arrangements of the Companies Ordinance and Inland Revenue Ordinance and are designated with the specialist to indict instances of rebelliousness. Organizations should watch their duties to consent to the different arrangements of the Companies Ordinance and Inland Revenue Ordinance including their documenting commitments. The Registrar Companies and additionally Inland Revenue Department may issue summonses in the Magistrates’ Courts against defaulting organizations which have neglected to convey or are late in conveying their statutory returns inside the recommended eras. The Registrar of Companies or potentially Inland Revenue Department will likewise consider making prosecution move for different offenses under the Companies Ordinance.
Company Registry & Inland Revenue Department Policy Punishment and Penalty
Endless supply of minor administrative offenses under the Companies Ordinance or potentially Inland Revenue Ordinance, the court will force a fine on the organization. The fine by and large makes out of a fine for the breach of the important segment of the Companies Ordinance as well as Inland Revenue Ordinance and a day by day default fine for the quantity of days late in delivery, if pertinent. The measure a fine is dictated by the Magistrate directing at the hearing.
Stephen, its specialists, agents, and workers particularly disclaim any guarantee past the limited guarantee expressed above, regardless of whether express or inferred, including the suggested guarantees of merchantability and wellness for reason. Under no situation will Stephen, its consultants, operators, agents and representatives are at risk or in charge of any harm or bother brought about or asserted to be created by the utilization of our services.
COMPANY SECRETARY DISCLAIMER
By registering an organization with Stephen M. S. Lai & Co. CPA Limited, you represent and warrant that:
You have been and are as of now in consistence with all laws on taxation, hostile to remuneration, and against illegal tax avoidance pertinent to you and your activities.
You will stay agreeable with all anti-bribery, taxation, and against anti-money-laundering laws material to you and your exercises amid the term of our arrangement of administrations to you.
You don’t know about any incidents or events that may offer ascent to or result in liability for any rupture of any important taxation, anti-bribery, or anti-money-laundering laws.
Stephen as a company secretary is not following up in the interest of your organization.
Stephen is not in charge of dealing with the formed company and its business
BOOKKEEPING SERVICES & LIMITATION OF LIABILITY
Fees and payment should be made in full by the due date, 7 days from the date appeared on the receipt. The client consents to pay the organization the concurred charge and any distributions.
The agreed fee depends on the services completed and the information provided by the client at the time of offering and subject to a quarterly survey. If details have been given by the client and it ends up noticeably evident that the details are not reflective of the works then extra fees may apply.
In case late payments the company maintain whatever authority is needed to charge a fixed late payment fee of $ 45.00 USD in addition to interest on every exceptional amount at a base rate in addition 8% for every calendar month, or part thereof from the last date that payment was because of the date payment is made.
The organization offers the client no right of set off.
Profit Tax Return (PTR)
NIL (PTR) – Company has not started the business. Client/Director must inform Stephen that the business has not been initiated through email (organization is not doing any business) firstname.lastname@example.org . If it’s not too much trouble ensure you comprehend the company taxation. E.g. In the event that your organization is not doing any business in Hong Kong and is working together out of Hong Kong, despite everything you have to record customary PTR which falls under the tax collection of 16.5%.
Even your company has not started business; you still require preparing audited accounts.
Regular (PTR) – Company has started the business and must record consistent Profit Tax Return alongside Audit report, Resolution of Director, Tax Computation, filled PTR, and other supporting archives. CPA is selected by organization secretary. Company tax would be 16.5% (you may even now apply for assessment exception status and pay 0% however, this administration must be requested). Stephen as organization secretary will name CPA (Certified)
The arrangement of CPA (Certified Public Accountant) – Company Secretary chooses Company CPA.
Stephen plans just the accounting and supporting reports.
CPA is in charge of Tax Computation, Audit report, Resolution of Director, and filled PTR
Directors or members are in charge of giving complete and precise information, and Stephen won’t be liable for any mistakes which emerge from your inability to give us the right information.
BANKING SERVICES DISCLAIMER
If it’s not too much trouble know that Hong Kong banks’ expected diligence procedures are very troublesome because of stricter prerequisites. It is not compulsory for Hong Kong banks to give bank account opening to Hong Kong substances. An official conclusion if the bank will open a bank account is totally at the tact of the bank. Stephen can’t ensure that the ledger will be opened. It is impractical to open a corporate bank account in Hong Kong remotely. We offer online bank opening for out of Hong Kong banks. You can download a free “Bank Account Opening Guide” here.
LIMITED LIABILITY AND WARRANTY
If it’s not too much trouble read this area deliberately since it limits the liability of Stephen and its subsidiaries, parents, backups, officers, executives, workers, delegates, specialists, and accomplices. We give you no guarantee or confirmation about this Website, Blogs or Content. Specifically: data might be erroneous or outdated, and may not constitute a conclusive or finish proclamation of the law or the legitimate market in any range. None of the Content is planned to constitute guidance in a particular circumstance. You should take professional advice in particular circumstances. While Stephen bends over backward to guarantee quality, Stephen makes no guarantee that the destinations, online journals or substance will meet your necessities or that the outcomes that might be gotten from a utilization of the locales or web journals will be exact or solid. This Website, Blogs or Content don’t express or give any bookkeeper or inspector conclusion, guidance or business offer.
The data in this web page fills in as the reference as it were. Stephen is not in charge of any loss or harm at all emerging out of or regarding any data in this site page. Stephen maintains whatever authority is needed to exclude, suspend or alter all data in this website page whenever in its total watchfulness without giving any reason or earlier notice. Stephen additionally claims all authority to change the qualification criteria and subtle elements of the courses of action set out above every now and then without notices.
GOVERNING LAWAND JURISDICTION HONG KONG ARRIVAL CARD/APPLICATION FOR ENTRY
Unless generally concurred in composing between the Client and Stephen, these Terms and Conditions might be governed by and interpreted as per the laws of Hong Kong Special Administrative Region and the courts of Hong Kong Special Administrative Region should have selective jurisdiction in connection with any case or question concerning or emerging from these Terms and Conditions.
HONG KONG CUSTOMS
Application for Entry/ Arrival Card/ Invitation Letter
You are not permitted to utilize Stephen M.S. Lai & Co. CPA Limited or Stephen deliver to finish the Hong Kong invitation letter, arrival card, or application for Entry when entering Hong Kong or applying for a section for visit/transit in Hong Kong.
If you don’t mind take note of that we may change the above terms at our tact without giving you any earlier notice.