sole proprietorship set up

Posted by grasshopper (424 days ago)

Hi

I understand that in order to do consulting here in HK (I have a dependent visa), I need to set up a sole proprietorship which is very easy to do (just go to lv 4 immigration tower - thanks previous threads).

Do I HAVE to set up a seperate bank account in the sole proprietorship name or can I just invoice and get paid into my current bank account?

I also understand from previous threads that you can apply for exemption from the sole proprietorship set up fee - is this still current? Anyone done it recently and willing to share their experience please.

Have I missed anything else that I need to consider before I start consulting for money?

Thanks

(I am based in Hong Kong)

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Posted by ppoutdoor (424 days ago)

No, you deffo do not have to set up a separate bank account. Simply state on your invoice that you want to be paid to a/c no xxxxx, in the name of Mr. xxxxx.

The exemption: I think the rule is that if at the end of the financial year you have not earned any money or less than a minimum amount, you can apply for a refund.

(I am based in Hong Kong)

Posted by grasshopper (424 days ago)

Many thanks.

(I am based in Hong Kong)