Tel : (852) 2581 9231

Fax : (852) 3105 9531

Address : (Appointment Only)

Main : Yu Sung Boon Building, 107-111 Des Voeux Road Central, H.K.

Branch : Yen Sheng Centre, 64 Hoi Yuen Road, Kwun Tong, Kln., H.K.

Shenzhen office: Tianxiang Building, Tian An Cyber Park, Futian District, Shenzhen, PRC

Email : info@genacct.com

What is Umlimited Company ?

`There is unlimited liability for the owner of the company as all risks of business operation and liabilities should be borne by Proprietor or Partners. In case of bankruptcy, the creditors have right to claim against the private assets of proprietor or partners. People who commence his own business shall fully consider the form of company : Limited Company v.s. Unlimited Company. Comparison with unincorporated business：`

	Sole proprietorship	Partnership	Corporations
No. of owner(s)	1	2 －20	1 －50
Legal status	No legal status, one can only own assets and sign contracts in proprietor's name	No legal status, one can only own assets and sign contracts in partner's name	Have independent legal status.
Debt and liability	Unlimited liability, proprietor faces risk of personal liability or even bankruptcy.	Unlimited liability, partners face risk of personal liability of even bankruptcy.	Liability of shareholders are limited to issued shares. Company liquidation normally not affect individual shareholders.
Tax issues	No statutory audit is required. Private expenses such as Proprietor’ and spouse’ salaries are not tax deductible.	No statutory audit is required. Private expenses such as Partners and spouses’ salaries are not tax deductible.	Annual statutory audit is required. Directors’ remuneration are tax deductible.
Others	Pay Business registration fee per year, but in some circumstances can be waived upon application.	Pay Business registration fee per year, but in some circumstances can be waived upon application.	Pay Business registration fee and annual return fee to Companies registry per year.

For Setting Up of Hong Kong Unlimited Company, please click here for Application Form.

Service Fee and Time Required for Setting up of H.K. Unlimited Company:

	Plan 1	Plan 2
Business Registration Fee	450*	450*
Our Service Fee	400**	600**
Time Required	About 2-3days	About 2-3 days
Documents Obtained	Business Registration Certificate	Business Registration Certificate, Company Chop and Required Documents for Opening Bank Account

*Relieved from paying business registration fee of HK$ 2,000 for the first year in 2009-10.
** HK$ 300 discount will be offered for the client who use our virtual office service with prepayment of 12-months service fee at the same time.

Procedure of Setting up of H.K. Unlimited Company:

Client fills in the application form and sends to us with copies of identify card/ passport and address proof of proposed proprietor, partners or agent.
We will contact the client in order to confirm all required information has been provided.
Client pays the service fee by cash or bank transfer to our bank account (Hang Seng Bank #265-452193-001 or Bank of China #012-916-0-002670-3).
We will prepare required documents in 1 working day.
Client comes to our office to sign the documents, or instructs us to send the documents to the designated place for signatures (*).
We will then submit the required documents and fees to the governmental department; after that, we will notify the client to collect the relevant documents.
Client could open the bank account with provided minutes and Certified True Copies of all relevant documents.

Remark(*): for specified industrial/commercial area only, otherwise, client should bear the courier fee.

As H.K. unlimited company requires business address for governmental department’s record, we provide a set of virtual office services at competitive prices. Please click here for more details.