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 […]
Hong Kong Crypto Regulations: A Comprehensive Guide
A recurring theme in crypto is that people want to do new financial things, regulators aren’t sure about those things, the things happen anyway, then regulators come in with a hammer. Except in Hong Kong. Hong Kong has opted for a different model, more like: “here are the rules, please follow them.” They’ve created a […]
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. […]
The Hidden Expenses Behind “Cheap” Hong Kong Company Secretaries
When starting a business, it’s tempting to minimize costs wherever possible.One area where many entrepreneurs try to save money is with their company secretary – after all, if two services fulfill the same legal requirement, why not go with the cheaper option? What many business owners don’t realize is that choosing a budget company secretary […]
Hong Kong Company Types: A Comprehensive Guide
The tricky part about starting a company in Hong Kong isn’t the “how” but the “what”: specifically, what type of company structure you should choose. There are quite a few ways to hang your shingle in Asia’s financial hub, and they’re not all created equal. Get it wrong, and you could be looking at higher […]
Just Named as a Hong Kong Company Director? Here’s What You’re REALLY Signing Up For
Maybe your friend asked you to be a director of their company. Or perhaps you’re starting your own business in Hong Kong and naming yourself director. Either way, you need to know what you’re getting into. This isn’t just about having a fancy title or signing some papers. Let’s get real about your responsibilities as […]
Can a Company Be a Director in Hong Kong? Yes, but…
While most people envision directors as individuals in suits sitting around boardroom tables, Hong Kong’s corporate law offers a unique flexibility: the ability for companies themselves to serve as directors of other companies. This arrangement, known as corporate directorship, opens up interesting possibilities for business structuring and management – but comes with specific rules and […]
