Posted by
SweetSue
17 yrs ago
I've Just been asked from an old friend for the costs of setting up a business in HK as the regional headquarters of a global educational concern. Office rents (@ 500 sq ft) in Central, TST or Shatin, admin/clerical staffed with two English, Chinese (Mandarin/Cantonese) speaking people. Including the monthly (electrical/phone/internet, etc) along with any annual charges (BRC, and others that may apply). I am under the belief that getting a company registered through those type of companies here and up and running will cost about $10K. Staff @ $15K month, Office rents @ $20K month with odds and ends (mentioned earlier) @ $3K month. Can anybody add or claim different to these sums. Much appreciated.
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You're about spot on, but you're missing one crucial point. Besides the monthly costs, there will always be the initial HK100,000 - HK500,000 to get everything up and running (deposits, renovations, legal and secretarial services, etc.) The security deposit on an office that is 20K/month will already be HK60,000, and that is not including management fees or building services. I have been paid in the past to do this so I am speaking from a few years of experience. Hong Kong is very start up business friendly, but you pay the price!
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For commercially zoned properties, just to TURN ON the electricity and/or open new commercial contracts HK Electric requires a deposit of HK5,000 - HK7,000. PCCW is another story.
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