Few years ago the profession wasn’t regulated, now all the Hong Kong Services Providers must be licensed, they should hold a Hong Kong Trust or Corporate Services Provider license, in short a TCSP license.
To select of of the many Hong Kong Corporate Services Providers we would suggest to start eliminating the ones handling mostly public companies, their services are highly qualified but for a private company it is simply too much and often too costly.
Numerous CPA firms are offering Corporate Services in Hong Kong, often with low incorporation initial costs as such services are given mainly to attract clients for accounting and audit services. There is a potential issue with theses providers, the possibility to use another CPA services are limited so the clients are kept with a single provider and are loosing freedom and access to other services.
Also a CPA firm has a too often a low exposure to International constraints, a tendency to be self-centered to the Hong Kong situation with a lack of experience to protect the interest of a foreign national under an heavy tax pressure.
To select one of the Hong Kong Corporate Services Providers we suggest to go for an independent company, not to a firm willing to sell its own accounting and audit services but in contrary a firm offering a selection of CPA firms adapted to your needs and business model.
We would not also advise to work with a Corporate Services Provider in Hong Kong boosting on its website the thousands clients that are supposed to work with them. Thousands of clients also means thousands of risks and this could be adverse for your relations with banks and other business partners if one of their clients attract issues with adverse media or legal cases.
To select one of the many Hong Kong Corporate Services Providers our position is SMALL IS BEAUTIFUL, a small firm with personalized services and a limited exposure, a good team speaking your language and with experience.
If the Hong Kong Corporate Services Provider don’t start by asking some questions, don’t try to immediately understand whom you are and what are you needs, just go to the next one. Hong Kong is offering an important choice of very good providers working under TSCP license.