Start up Phase of Business - advise please

Hi, At very early stage of starting up a service based business in Hong Kong. I have checked out some old posts and found them helpful but a few questions:


1. I am at this stage, planning on being sole owner/operator am I best to set up as a sole proprieter or limited company? What are the limitations or benefits?


2. I understand that under the last budget there were some benefits to starting up businesses in 2010 - ie reduced cost for registration is this true?


3. I have a HKID card but am sponsored via my husbands job. Is this an issue with setting up a business?


4. I understand from reading that I do not need actual premises but a "office address" how does one get one without costing too much. Is a residential postal address inadequate? Long term I hope to have my own office but one step at a time!


I am very much in the early stages and need to find info out before I part with $$ and make it happen. I have been to the govt website, but it is more based around licences and form filling etc.


Thanks

Thanks Jazzz, much appreciate the answers to my questions :)

Just to ask a further question, I do in part, with my husband own an apartment (well the bank owns 95%!) is this an issue setting up as a sole proprieter? Thanks

Thanks Wob Lee, You are correct in assuming my business is nutrition related. I did consider that "legal issues" could be a problem. Of course my intention is not to get into any such problems, but you never do know!


It looks like I need to look into the legal issues related to setting up such a business and as suggested seriously consider protecting what assets I do have.


Thanks

Hi,

You could get an office address from business centres. Cost will be around HK$1000 a year. Small furnished rooms with tel line etc are availble also: http://well.hk/English.html

http://www.profitaccounting.hk/?gclid=CKr-6Oad26ICFYMgHAodXEt6vg


I used these guys when I set up my Ltd company.. I also use their office address as my business registered address


Be careful if you are living in rented accommodation as some tenancy agreements don't allow using the premises as a office address.. this was why I set mine up the way I did...... If they ever rcv any mail for me then they just let me know... but all of my bank account etc is set up for my residential address so no probs