Posted by
frisky
19 yrs ago
I'm a permanent HK resident, intending to move back from Canada. I plan on pursuing some freelance opportunities (corporate writing/editing) while I job-hunt. Is it necessary to register a business (sole-proprietorship?) in order to perform freelance work?
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Thanks for the reply raincatcher. Is there an advantage to registering a business, eg. indicating to prospective employers that you are "self-employed" rather than freelancing. Any disadvantage, other than the registration cost?
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ttc
19 yrs ago
If you register as a business you can make deductions against your tax for expenses arising out of your business - printing, purchases you make etc. If your 'office' is your home, you can claim for a proportion of your property rental, utilities etc.
If you think that your income is going to be less than HK$10,000 per month (I think this is the magic number) you will be reimbursed the registration fees in full - just complete a form when you register.
Disadvantage - the record keeping and accounts!
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