So You Want to Pay Your Employees in Crypto: A Hong Kong Employer’s Guide
“Can we pay our staff in crypto in Hong Kong?” If you’re asking this question, you’re either incredibly forward-thinking or you’re trying to solve a specific problem that traditional banking isn’t addressing. Either way, you’re not alone. As Hong Kong positions itself as a crypto hub, more companies are exploring digital asset compensation options. The […]
What Are Hong Kong’s New Stablecoin Rules? Key Takeaways from the Bill
Stablecoins. They arrived promising the best of both worlds: the stability of traditional money fused with the speed and borderless nature of digital assets. They aimed to be the reliable rails upon which the crypto economy could run – facilitating trade, settlement, and access. But reality, as it often does, proved complicated. Growth exploded, use […]
Can Shareholders Be Directors in Hong Kong? Yes, Here’s How It Works
There’s a peculiar ritual in Hong Kong business where once a year, company directors everywhere must participate in the ancient tradition of “telling the government who owns and runs your company.” Miss this ceremony, and the punishment is swift: escalating fines, potential prosecution, and the business equivalent of being marked with a scarlet letter of […]
NNC1 Sample: How to Fill Out Hong Kong’s Incorporation Form
There’s a peculiar ritual in Hong Kong business where once a year, company directors everywhere must participate in the ancient tradition of “telling the government who owns and runs your company.” Miss this ceremony, and the punishment is swift: escalating fines, potential prosecution, and the business equivalent of being marked with a scarlet letter of […]
NAR1 Sample: How to Fill Out Your Annual Return in Hong Kong
There’s a peculiar ritual in Hong Kong business where once a year, company directors everywhere must participate in the ancient tradition of “telling the government who owns and runs your company.” Miss this ceremony, and the punishment is swift: escalating fines, potential prosecution, and the business equivalent of being marked with a scarlet letter of […]
Hong Kong’s Virtual Asset Service Provider (VASP) License: What You Need to Know
Hong Kong has decided that the wild west days of crypto are over. As of March 2023, if you want to operate a virtual asset business that serves the Hong Kong public, you need a license for that. Not just any license – a Virtual Asset Service Provider (VASP) license. Getting this license separates the […]
Crypto Tax Benefits in Hong Kong
The conventional wisdom says cryptocurrencies need to be taxed like they’re nuclear material – carefully tracked, heavily regulated, and taxed at every transfer point. This approach has given us tax systems so complex that even accountants need accountants. But Hong Kong looked at this conventional wisdom and asked: ‘What if we… didn’t do that?’ The […]
What is the Difference Between a Registered Address and Business Address in Hong Kong?
Many companies in Hong Kong have two addresses. This might seem inefficient — most things only need one address, that’s kind of the point of addresses — but Hong Kong’s corporate governance system makes a distinction between a “registered address” for government correspondence and a “business address” for, well, business. Your registered address is where […]
Hong Kong’s Business Registration vs. Company Registration Numbers Explained
“Your company registration number?” asked the bank officer. “I’ve got it right here,” Michelle said, confidently sliding over her business registration certificate. The officer shook his head. That’s when Michelle learned what many Hong Kong entrepreneurs discover the hard way: these are two very different numbers, and mixing them up can cost you precious time. […]
