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Accounting services in Hong Kong

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Finding the right accounting services in Hong Kong can save your business time, cost, and effort. We help small businesses, startups, and growing companies manage bookkeeping, tax compliance, payroll, and financial reporting with transparent fees and cloud-based solutions. Outsourcing your accounting needs to local experts keeps you compliant with Hong Kong regulations while making operations more efficient. Whether you need simple annual filings or ongoing support, our team offers flexible service packages to match your business’s goals and budget.

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Advantages

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    Simplified taxation system

    Hong Kong’s simple taxation system includes low corporate tax rates (16.5%) and no goods and services tax/VAT. Accounting experts can help you utilize tax benefits, exemptions and deductions. Hong Kong does not levy value added tax (VAT) or goods and services tax (GST). This makes tax compliance much easier than in many other jurisdictions.

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    Real-time financial statistics

    Detailed financial reports provide insight into cash flow, profitability, and overall financial health, enabling informed decision-making.

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    Compliance with local regulations

    Businesses in Hong Kong must comply with the Companies Ordinance and the requirements of the Inland Revenue Department (IRD). Accounting professionals ensure accurate and timely financial reporting and tax filings to avoid penalties.

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    Support for cross-border business

    Due to its role as a gateway to mainland China, companies benefit from multi-currency accounting and expertise in managing international transactions.

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    Scalable solutions

    Tailored accounting services that grow with your business, from basic bookkeeping to complex financial needs.

What are the Legal Requirements in Accounting in Hong Kong?

Compliance with HKFRS standards

All companies are required to maintain accounting records in accordance with Hong Kong Financial Reporting Standards (HKFRS) and submit annual financial statements.

Annual audit of financial statements

Companies incorporated in Hong Kong must have their financial statements audited and submit the audited financial statements along with their Profits Tax Return (PTR) to the Inland Revenue Department (IRD).

Mandatory retention of financial documents

Companies must keep all accounting documents, including invoices, reports, tax documents and bank statements, for at least 7 years.

Payroll registration and MPF contributions

Companies with employees must register mandatory pension funds (MPF), maintain payroll records and submit IR56B reports to the tax authorities.

6 Steps to Obtaining Accounting Support

  • Step 01

    Opening a corporate bank account

    A company must have a bank account to conduct financial transactions, which allows it to separate business assets from personal funds.

  • Step 02

    Maintaining financial records in accordance with HKFRS

    Daily accounting includes recording transactions, controlling expenses, income, assets and liabilities.

  • Step 03

    Preparing annual financial statements

    At the end of the financial year, the company must prepare a Balance Sheet, Profit and Loss (P&L) Statement, and Cash Flow Statement for further audit.

  • Step 04

    Conducting an audit and filing a tax return (PTR)

    The auditor checks the company’s financial documents, after which the report along with the tax return (PTR) is submitted to the Inland Revenue Department (IRD).

  • Step 05

    Paying taxes and following the tax calendar

    Income tax is paid in two stages: – Provisional Tax – an advance payment, which is usually made one month after receiving the tax notice. – Final Tax is the final payment after the IRD has reviewed the tax return.

  • Step 06

    Compliance with payroll and MPF obligations

    Companies that hire employees must keep payroll records, make MPF contributions, and file an annual IR56B return.

Key Accounting Services Offered in Hong Kong

  • Service Type Description Typical Users
    Bookkeeping Day-to-day recording of transactions; maintaining accurate books SMEs, start-ups, large companies
    Financial Reporting Preparation of financial statements (balance sheet, P&L, cash flow) All business types
    Tax Filing & Compliance Corporate tax computation; timely submission to IRD; handling queries All incorporated entities
    Audit Assistance Preparing audit-required documents; liaising with auditors Most SMEs, larger firms
    Payroll Processing Calculating wages, MPF, preparing payslips, remitting taxes Companies with employees
    Management Reporting Regular analysis and reports to support business decisions SMEs, cross-border companies
    Accounting System Setup Chart of accounts, choosing and implementing software (Xero, QuickBooks) New companies
    Company Secretarial Services Statutory compliance, annual returns, business registration All incorporated companies
    Financial Planning & Advisory Tailored business tax planning, cash flow improvement, budgeting Growth-focused businesses
    Cloud Accounting Use of cloud-based software for real-time reporting and remote access Tech-savvy businesses
  • Factor How It Affects Fees
    Transaction Volume More transactions = higher workload/cost
    Business Complexity Groups, cross-border, asset holdings cost more
    Service Frequency Monthly, quarterly, or annual service levels
    Payroll Headcount More employees = higher processing fee
    Cloud Integration API/platform costs may add to total
    Advisory Requirements CFO/advisory adds premium to basic fee

Frequently Asked Questions

Still have a questions?

Can't find the answer to your question? Send us an email and we'll get back to you as soon as possible!
Do all companies in Hong Kong need audited financial statements?

Yes, most companies are required to file audited financial statements with their annual accounts, with the exception of some small businesses.

How does the Hong Kong tax system benefit businesses?

Due to low corporate tax rates, no capital gains tax and no VAT/goods and services tax, businesses have a simple and efficient tax regime.

Can accounting support help with cross-border trade?

Yes, professionals deal with multi-currency accounting and compliance with international tax and trade rules.

What is the cost of accounting support in Hong Kong?

The cost depends on the complexity of the services, but usually ranges from basic packages for startups to complex solutions for large corporations.

Our Services Include

Accounting and financial record keeping

We ensure the registration of all financial transactions, preparation of accounting books, and control over the balance of income and expenses.

Tax support and filing of tax returns

We help to calculate and file Profits Tax Return (PTR), Salaries Tax and fulfill all tax obligations to the IRD.

Audit and preparation of financial statements

We prepare annual financial statements in accordance with HKFRS and support the audit procedure.

Payroll accounting and MPF contributions

We calculate salaries, taxes, social benefits and help companies comply with MPF and IRD requirements.

Tax and business structure optimization advice

We help minimize tax costs by taking advantage of Hong Kong’s legal tax incentives.

Accounting automation (Xero, QuickBooks, MYOB)

We implement modern accounting solutions that allow you to keep records in electronic format and ensure the availability of financial data in real time.

We Are Always Available

Our team ensures your business setup is smooth, efficient, and compliant with local laws. Contact us today to discuss your project.

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