{"id":25519,"date":"2024-06-25T07:01:39","date_gmt":"2024-06-25T07:01:39","guid":{"rendered":"https:\/\/www.genacct.com\/differences-between-unlimited-and-limited-company\/"},"modified":"2026-06-18T06:02:22","modified_gmt":"2026-06-18T06:02:22","slug":"differences-between-unlimited-and-limited-company","status":"publish","type":"post","link":"https:\/\/www.genacct.com\/en\/differences-between-unlimited-and-limited-company\/","title":{"rendered":"What is the difference between an unlimited company and a limited company? Includes 8 steps to convert a sole proprietorship\/partnership from unlimited to limited"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"25519\" class=\"elementor elementor-25519 elementor-15445\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-38fa76e myahref elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"38fa76e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-73a6b1a\" data-id=\"73a6b1a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-93f4e5b elementor-widget elementor-widget-text-editor\" data-id=\"93f4e5b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>&#8220;Should I start an unlimited company or a limited company?&#8221; is a question many new entrepreneurs face. What are the differences between a limited company and a sole proprietorship\/partnership unlimited company? Which is better? If it&#8217;s no longer suitable, is it possible to &#8220;convert from unlimited to limited&#8221;?<\/p><p>General Accounting&#8217;s advice is that &#8220;it depends on the situation.&#8221; Both unlimited (sole proprietorship\/partnership) companies and limited companies have their own advantages and disadvantages; it is not a one-size-fits-all scenario. As a professional accounting consultancy, our responsibility is to analyze the differences, pros, and cons based on each client&#8217;s background and provide a suitable <a href=\"https:\/\/www.genacct.com\/en\/set-up-limited-company\/\">company formation plan<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-321fb5a uael-heading-align-left elementor-widget elementor-widget-uael-table-of-contents\" data-id=\"321fb5a\" data-element_type=\"widget\" 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123456789=\"\" data-widget_type=\"uael-table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"uael-toc-main-wrapper content-show\" data-headings=\"h2\" >\r\n\t\t\t<div class=\"uael-toc-wrapper\">\r\n\t\t\t\t<div class=\"uael-toc-header\">\r\n\t\t\t\t\t<span class=\"uael-toc-heading elementor-inline-editing\" data-elementor-setting-key=\"heading_title\" data-elementor-inline-editing-toolbar=\"basic\" >Table of Contents<\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"uael-toc-switch\" data-hideshow=\"yes\" data-is-collapsible=\"yes\">\r\n\t\t\t\t\t\t\t<span class=\"uael-icon fa\"><\/span>\r\n\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<div class=\"uael-separator-parent\">\r\n\t\t\t\t<div class=\"uael-separator\"><\/div>\r\n\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<div class=\"uael-toc-toggle-content\">\r\n\t\t\t\t\t<div class=\"uael-toc-content-wrapper\">\r\n\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t<ul data-toc-headings=\"headings\" class=\"uael-toc-list uael-toc-list-none\" data-scroll=\"\" ><\/ul>\r\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/div>\r\n\t\t\t\t<div class=\"uael-toc-empty-note\">\r\n\t\t\t\t\t<span>Add a header to begin generating the table of contents<\/span>\r\n\t\t\t\t<\/div>\r\n\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ffc1b9 elementor-widget elementor-widget-text-editor\" data-id=\"6ffc1b9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>What are the differences between setting up an unlimited company and a limited company?<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be8d7dc elementor-widget elementor-widget-text-editor\" data-id=\"be8d7dc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Based on years of experience in accounting and company formation, the differences between <a href=\"https:\/\/www.genacct.com\/en\/set-up-unlimited-company\/\">setting up an unlimited company<\/a> and a limited company can be broadly compared across four major areas: &#8220;governing legislation, fees, tax filing, and debt liability.&#8221;<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e353346 elementor-widget elementor-widget-text-editor\" data-id=\"e353346\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Differences between Limited and Unlimited Companies: Governing Legislation<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-140e224 elementor-widget elementor-widget-html\" data-id=\"140e224\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div>\r\n\r\n\r\n    <meta charset=\"UTF-8\">\r\n    <title>Unlimited Company vs. Limited Company<\/title>\r\n    <style>\r\n        body {\r\n            font-family: Arial, sans-serif;\r\n            margin: 0;\r\n            padding: 20px;\r\n        }\r\n        table {\r\n            width: 100%;\r\n            border-collapse: collapse;\r\n            margin: 0 auto;\r\n        }\r\n        th, td {\r\n            border: 1px solid #ccc;\r\n            padding: 8px;\r\n            text-align: left;\r\n            vertical-align: top;\r\n        }\r\n        .header-row th {\r\n            background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n            font-weight: bold;\r\n        }\r\n        .data-row:nth-child(odd) {\r\n            background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n        }\r\n        .data-row:nth-child(even) {\r\n            background-color: #E6E6E6; \/* \u7070\u8272 *\/\r\n        }\r\n        .bold-text {\r\n            font-weight: bold;\r\n        }\r\n    <\/style>\r\n\r\n\r\n    <table>\r\n        <tr class=\"header-row\">\r\n            <th><\/th>\r\n            <th>Unlimited Company<\/th>\r\n            <th>Limited Company<\/th>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Governing Legislation<\/td>\r\n            <td>Business Registration Ordinance (Cap. 310)<sup>1<\/sup><\/td>\r\n            <td>Companies Ordinance (Cap. 622 of the Laws of Hong Kong)<sup>2<\/sup><\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Legal Status<\/td>\r\n            <td>No independent status; linked to the owner or partners<\/td>\r\n            <td>Independent legal entity with its own legal status<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Company Members<\/td>\r\n            <td>Owner or partners<\/td>\r\n            <td>Shareholders, directors, company secretary<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Share Capital<\/td>\r\n            <td>None, due to unlimited liability<\/td>\r\n            <td>As required, minimum HK$1<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Incorporation Documents<\/td>\r\n            <td>Business Registration Forms<sup>3<\/sup><br\/>Form 1(a) for Sole Proprietorship \/ Form 1(c) for Partnership<\/td>\r\n            <td>Incorporation Form NNC1, Articles of Association, IRBR1, and IRBR200<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Registration Requirements<\/td>\r\n            <td>Sole proprietorship: at least one person aged 18 or above as owner; Partnership: at least two persons aged 18 or above as partners<\/td>\r\n            <td>At least one person (aged 18+) or company as shareholder and director, plus one individual as company secretary<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Transfer and Succession<\/td>\r\n            <td>Sole proprietorships cannot be transferred or inherited<\/td>\r\n            <td>Can be transferred or inherited through share transfers<\/td>\r\n        <\/tr>\r\n    <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c8d464 elementor-widget elementor-widget-text-editor\" data-id=\"3c8d464\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>More details: <a href=\"https:\/\/www.genacct.com\/en\/business-registration\/\">The Ultimate Guide to Hong Kong Business Registration Certificates: Latest BR Application, Fees, Documents, and Renewal Guide<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2caa46f elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"2caa46f\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Enquire now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e10fca5 elementor-widget elementor-widget-text-editor\" data-id=\"e10fca5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Differences between Limited and Unlimited Companies: Fees<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c1d94e5 elementor-widget elementor-widget-html\" data-id=\"c1d94e5\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div>\r\n\r\n\r\n    <meta charset=\"UTF-8\">\r\n    <title>Setting up an Unlimited Company vs. a Limited Company<\/title>\r\n    <style>\r\n        body {\r\n            font-family: Arial, sans-serif;\r\n            margin: 0;\r\n            padding: 20px;\r\n        }\r\n        table {\r\n            width: 100%;\r\n            border-collapse: collapse;\r\n            margin: 0 auto;\r\n        }\r\n        th, td {\r\n            border: 1px solid #ccc;\r\n            padding: 8px;\r\n            text-align: left;\r\n            vertical-align: top;\r\n        }\r\n        .header-row {\r\n            background-color: #F0F0F0; \/* \u6d45\u7070\u8272 *\/\r\n            font-weight: bold;\r\n        }\r\n        .data-row:nth-child(odd) {\r\n            background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n        }\r\n        .data-row:nth-child(even) {\r\n            background-color: #E6E6E6; \/* \u7070\u8272 *\/\r\n        }\r\n        .bold-text {\r\n            font-weight: bold;\r\n        }\r\n    <\/style>\r\n\r\n\r\n    <table>\r\n        <tr class=\"header-row\">\r\n            <th><\/th>\r\n            <th>Unlimited Company<\/th>\r\n            <th>Limited Company<\/th>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Agency Service Fee<\/td>\r\n            <td>Approx. HK$500<\/td>\r\n            <td>Approx. HK$1,000<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Government Fees<\/td>\r\n            <td>HK$2,200<sup>4<\/sup><\/td>\r\n            <td>HK$3,920<sup>5<\/sup><\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Maintenance Fees<\/td>\r\n            <td>\r\n  1. Business Registration Fee: HK$2,200<br\/> 2. Tax Filing Fee \r\n            <\/td>\r\n            <td>\r\n  1. Business Registration Fee: HK$2,200<br\/> 2. Audit Fee<br\/> 3. Company Secretary Fee<br\/> 4. Annual Return Fee: $105   \r\n            <\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Business Bank Account Opening Fee<\/td>\r\n            <td>Generally the same<\/td>\r\n            <td>Generally the same<\/td>\r\n        <\/tr>\r\n    <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fc125a elementor-widget elementor-widget-text-editor\" data-id=\"7fc125a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>More details: <a href=\"https:\/\/www.genacct.com\/en\/company-registration-cost\">Company Formation Costs<\/a> | <a href=\"https:\/\/www.genacct.com\/en\/company-secretary\/\">Hong Kong Company Secretary Services<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ab75b8 elementor-widget elementor-widget-text-editor\" data-id=\"8ab75b8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Limited vs. Unlimited Company Comparison: Tax Filing<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2097e27 elementor-widget elementor-widget-html\" data-id=\"2097e27\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div>\r\n\r\n\r\n    <meta charset=\"UTF-8\">\r\n    <title>Unlimited Company vs. Limited Company<\/title>\r\n    <style>\r\n        body {\r\n            font-family: Arial, sans-serif;\r\n            margin: 0;\r\n            padding: 20px;\r\n        }\r\n        table {\r\n            width: 100%;\r\n            border-collapse: collapse;\r\n            margin: 0 auto;\r\n        }\r\n        th, td {\r\n            border: 1px solid #ccc;\r\n            padding: 8px;\r\n            text-align: left;\r\n            vertical-align: top;\r\n        }\r\n        .header-row {\r\n            background-color: #F0F0F0; \/* \u6d45\u7070\u8272 *\/\r\n            font-weight: bold;\r\n        }\r\n        .data-row:nth-child(odd) {\r\n            background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n        }\r\n        .data-row:nth-child(even) {\r\n            background-color: #E6E6E6; \/* \u7070\u8272 *\/\r\n        }\r\n        .bold-text {\r\n            font-weight: bold;\r\n        }\r\n        .black-text {\r\n            color: #000; \/* \u9ed1\u8272\u6587\u5b57 *\/\r\n        }\r\n    <\/style>\r\n\r\n\r\n    <table>\r\n        <tr class=\"header-row\">\r\n            <th><\/th>\r\n            <th class=\"black-text\">Unlimited Company<\/th>\r\n            <th class=\"black-text\">Limited Company<\/th>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Tax Return Form<\/td>\r\n            <td>Sole Proprietorship: BIR 60<br\/>Partnership: BIR 52<\/td>\r\n            <td>BIR 51<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Tax Rate<\/td>\r\n            <td>First $2M net profit: 7.5%<br\/>Over $2M: 15%<\/td>\r\n            <td>First $2M net profit: 8.25%<br\/>Over $2M: 16.5%<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Taxation Method<\/td>\r\n            <td>Company profits can be taxed independently or through Personal Assessment<\/td>\r\n            <td>Company profits are taxed completely independently from personal tax filing<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Supporting Documents<\/td>\r\n            <td>No audit report required; only need to attach balance sheet, P&L, and tax computation<\/td>\r\n            <td>Must submit an audit report along with balance sheet, P&L, and tax computation<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Tax Filing Fee (General SME)<\/td>\r\n            <td>$2,000 - $6,000<\/td>\r\n            <td>$6,000 - $12,000<\/td>\r\n        <\/tr>\r\n    <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d6b9fc9 elementor-widget elementor-widget-text-editor\" data-id=\"d6b9fc9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>More details: <a href=\"https:\/\/www.genacct.com\/en\/company-taxation\/\">Corporate Tax Filing<\/a> | <a href=\"https:\/\/www.genacct.com\/en\/corporate-accounting-services\/\" class=\"broken_link\">Accounting Services<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-90a6232 elementor-widget elementor-widget-text-editor\" data-id=\"90a6232\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Limited vs. Unlimited Company Comparison: Debt Liability<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-74c020f elementor-widget elementor-widget-html\" data-id=\"74c020f\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div>\r\n\r\n\r\n    <meta charset=\"UTF-8\">\r\n    <title>Unlimited Company vs. Limited Company<\/title>\r\n    <style>\r\n        body {\r\n            font-family: Arial, sans-serif;\r\n            margin: 0;\r\n            padding: 20px;\r\n        }\r\n        table {\r\n            width: 100%;\r\n            border-collapse: collapse;\r\n            margin: 0 auto;\r\n        }\r\n        th, td {\r\n            border: 1px solid #ccc;\r\n            padding: 8px;\r\n            text-align: left;\r\n            vertical-align: top;\r\n        }\r\n        .header-row {\r\n            background-color: #F0F0F0; \/* \u6d45\u7070\u8272 *\/\r\n            font-weight: bold;\r\n        }\r\n        .data-row:nth-child(odd) {\r\n            background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n        }\r\n        .data-row:nth-child(even) {\r\n            background-color: #E6E6E6; \/* \u7070\u8272 *\/\r\n        }\r\n        .bold-text {\r\n            font-weight: bold;\r\n        }\r\n    <\/style>\r\n\r\n\r\n    <table>\r\n        <tr class=\"header-row\">\r\n            <th><\/th>\r\n            <th>Unlimited Company<\/th>\r\n            <th>Limited Company<\/th>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Owner\/Shareholder Liability<\/td>\r\n            <td>Owner or partners have unlimited liability<\/td>\r\n            <td>Shareholders' liability is limited to their share capital<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Closing Procedure<\/td>\r\n            <td>Submit Form IRC3113 to notify the Business Registration Office<\/td>\r\n            <td>Apply for a Notice of No Objection to Deregistration from the IRD, then submit Form NDR1 to the Companies Registry<\/td>\r\n        <\/tr>\r\n        <tr class=\"data-row\">\r\n            <td class=\"bold-text\">Consequences of Insolvency<\/td>\r\n            <td>Personal bankruptcy; owner or partners must sell personal assets to repay debts<\/td>\r\n            <td>Apply for company liquidation; does not affect shareholders' personal assets<\/td>\r\n        <\/tr>\r\n    <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ad83002 elementor-widget elementor-widget-text-editor\" data-id=\"ad83002\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>More details: <a href=\"https:\/\/www.genacct.com\/en\/company-closure\">[Closing a Company] How to avoid failure in deregistration? Guide to closing bank accounts and asset handling<\/a><br \/><a href=\"https:\/\/www.genacct.com\/en\/how-to-deregister-a-company\">[Cancelling Business Registration] Closing procedures for Limited\/Unlimited companies | 5 common mistakes to avoid!<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f861b21 elementor-widget elementor-widget-text-editor\" data-id=\"f861b21\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>8 Factors to Consider Before Choosing an Unlimited or Limited Company<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91bb55e elementor-widget elementor-widget-text-editor\" data-id=\"91bb55e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In addition to the 4 major differences above, consider these 8 factors before starting your company:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9316832 elementor-widget elementor-widget-text-editor\" data-id=\"9316832\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Personal Background<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-475a783 elementor-widget elementor-widget-text-editor\" data-id=\"475a783\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Do you own many assets? Theoretically, the more assets you have, the more you should form a limited company to prevent personal assets from being affected by company debts.<\/p><p>More details: <a href=\"https:\/\/www.genacct.com\/en\/benefits-of-a-limited-company\/\">Benefits of Setting Up a Limited Company in Hong Kong<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c27405 elementor-widget elementor-widget-text-editor\" data-id=\"3c27405\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Investment Amount<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ba0a76 elementor-widget elementor-widget-text-editor\" data-id=\"3ba0a76\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tHave you established an investment plan or direction? Theoretically, the higher the investment, the more you should choose a limited company because higher investment means higher risk!\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4378f1d elementor-widget elementor-widget-text-editor\" data-id=\"4378f1d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Nature of business<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cccd793 elementor-widget elementor-widget-text-editor\" data-id=\"cccd793\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Is it a specialized industry? For example, real estate, money exchange, or financial lending involve high-risk operations. If so, General Accounting suggests forming a limited company. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-869c61d elementor-widget elementor-widget-text-editor\" data-id=\"869c61d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Investment Category<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4784581 elementor-widget elementor-widget-text-editor\" data-id=\"4784581\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>If the company involves investment business, such as taxi licenses, industrial buildings, or rental properties, General Accounting recommends registering a Hong Kong limited company. This allows the business or company to be transferred directly to a third party, saving on stamp duty for transfers.<\/p><p>Extended Reading: <a href=\"https:\/\/www.genacct.com\/en\/%e8%b2%a1%e6%94%bf%e9%a0%90%e7%ae%97%e6%a1%88-%e6%9c%89%e9%99%90%e5%85%ac%e5%8f%b8-%e8%b2%b7%e8%b3%a3%e7%89%a9%e6%a5%ad-%e5%a5%bd%e8%99%95\/\">[Buying Property via Company] Budget adjustments to Ad Valorem Stamp Duty | Benefits and process of property transactions under a company name<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fc1b8a elementor-widget elementor-widget-text-editor\" data-id=\"7fc1b8a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Risk Tolerance<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f8b9d1 elementor-widget elementor-widget-text-editor\" data-id=\"1f8b9d1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Assess your own risk tolerance. Business always involves profits and losses. In case of a loss, it is best to calculate how much you can afford to lose. The lower your risk tolerance, the more you should choose a limited company.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e102e4 elementor-widget elementor-widget-text-editor\" data-id=\"2e102e4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Business Expansion Plans<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5fb65e8 elementor-widget elementor-widget-text-editor\" data-id=\"5fb65e8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>For businesses like R that may constantly bring in new investors, limited companies make it easy to add or remove shareholders and adjust share ratios. You can also issue preferred shares to different classes of investors.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98d7b74 elementor-widget elementor-widget-text-editor\" data-id=\"98d7b74\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Number of Partners<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1310a66 elementor-widget elementor-widget-text-editor\" data-id=\"1310a66\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>A one-person company is relatively simple to handle whether unlimited or limited. For partnerships of two or more people, you must consider decision-making power and operational details. A limited company is more advantageous as it operates based on the &#8220;Articles of Association.&#8221; General Accounting suggests that for businesses with multiple participants, a limited company is easier to manage.<\/p><p>Extended Reading: <a href=\"https:\/\/www.genacct.com\/en\/articles-of-association\/\">[Articles of Association] Understanding the 6 main purposes of the Articles of Association (AA)<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a64aa0c elementor-widget elementor-widget-text-editor\" data-id=\"a64aa0c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Operating Costs<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b8e3eb6 elementor-widget elementor-widget-text-editor\" data-id=\"b8e3eb6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The setup and operating costs of an unlimited company are relatively low. If money is the only consideration, <a href=\"https:\/\/www.genacct.com\/en\/set-up-unlimited-company\/\">starting an unlimited company<\/a> is definitely the first choice.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c3215bb elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"c3215bb\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Enquire now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c74e803 elementor-widget elementor-widget-text-editor\" data-id=\"c74e803\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Can an unlimited company be converted into a limited company?<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2084d77 elementor-widget elementor-widget-text-editor\" data-id=\"2084d77\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Legally, no. Unlimited (sole proprietorship\/partnership) companies are established under the Business Registration Ordinance (Cap. 310)<sup>1<\/sup>, while limited companies are regulated by the Companies Ordinance (Cap. 622)<sup>2<\/sup>. Legally, &#8220;limited&#8221; and &#8220;unlimited sole proprietorship\/partnership&#8221; are completely different legal entities. <strong>The concept of directly converting an unlimited sole proprietorship<\/strong><strong>\/<\/strong><strong>partnership into a limited company is absolutely incorrect<\/strong><strong>.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1b50552 elementor-widget elementor-widget-text-editor\" data-id=\"1b50552\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>How to change from unlimited to limited? Solutions for converting an unlimited company to a limited company <\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-632ab47 elementor-widget elementor-widget-text-editor\" data-id=\"632ab47\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Although you cannot directly convert a partnership\/sole proprietorship unlimited company into a limited company legally, General Accounting can provide a similar service: <strong>transferring the business of an unlimited partnership<\/strong><strong>\/<\/strong><strong>sole proprietorship to a limited company for continued operation<\/strong>. <\/p><p>Simply put, the owner or partners of a sole proprietorship\/partnership can establish a new limited company with the same or a similar name, and then gradually transfer the unlimited company&#8217;s business to the limited company. This involves an overlapping transition period. The detailed process is as follows:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6442543 elementor-widget elementor-widget-text-editor\" data-id=\"6442543\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>8 Procedures for Converting a Sole Proprietorship\/Partnership Unlimited Company to Limited<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d45bc68 elementor-widget elementor-widget-text-editor\" data-id=\"d45bc68\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Step 1: Incorporate a Limited Company<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b3792d elementor-widget elementor-widget-text-editor\" data-id=\"9b3792d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The owner or partners of the unlimited company establish a new limited company and bank account using the same or a similar name.<\/p><p>More info: <a href=\"https:\/\/www.genacct.com\/en\/open-company-bank-account\/\">Latest Guide to Opening a Business Bank Account<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c1c85c3 elementor-widget elementor-widget-text-editor\" data-id=\"c1c85c3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Step 2: Business Transfer<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fc1ab1c elementor-widget elementor-widget-text-editor\" data-id=\"fc1ab1c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Gradually transfer existing clients and business from the unlimited company to the new limited company.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d7b21cc elementor-widget elementor-widget-text-editor\" data-id=\"d7b21cc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Step 3: Asset Transfer<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c4cb2fe elementor-widget elementor-widget-text-editor\" data-id=\"c4cb2fe\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Transfer existing assets of the unlimited company, such as vehicles or equipment, to the new limited company.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e29ea96 elementor-widget elementor-widget-text-editor\" data-id=\"e29ea96\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Step 4: Simultaneous Operation<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-370b461 elementor-widget elementor-widget-text-editor\" data-id=\"370b461\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Both the old and new companies operate simultaneously, with the ultimate goal of the limited company replacing the unlimited one.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20b16c5 elementor-widget elementor-widget-text-editor\" data-id=\"20b16c5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Step 5: Clearing Liabilities<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1469a10 elementor-widget elementor-widget-text-editor\" data-id=\"1469a10\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tDuring the business transfer, the unlimited company&#8217;s accounts payable must be settled, and other operational responsibilities, such as existing leases, must be handled.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91a9b95 elementor-widget elementor-widget-text-editor\" data-id=\"91a9b95\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Step 6: Closing Bank Accounts<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2db7905 elementor-widget elementor-widget-text-editor\" data-id=\"2db7905\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tOnce all accounts receivable are collected and all payables and liabilities are cleared, the unlimited company&#8217;s bank account can be closed.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9760c78 elementor-widget elementor-widget-text-editor\" data-id=\"9760c78\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Step 7: Fulfilling Tax Obligations<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e3b3039 elementor-widget elementor-widget-text-editor\" data-id=\"e3b3039\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>After completing the submission of corporate\/personal tax returns and paying all taxes, you can apply to close the unlimited company.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4849f38 elementor-widget elementor-widget-text-editor\" data-id=\"4849f38\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Step 8: Completion<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20b237a elementor-widget elementor-widget-text-editor\" data-id=\"20b237a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>After applying for business cessation with the Inland Revenue Department (submitting Form IRC3113), the process of transferring the unlimited company&#8217;s business to a limited company is complete.<\/p><p>Extended Reading: <a href=\"https:\/\/www.genacct.com\/en\/how-to-deregister-a-company\">Unlimited Company Cessation Procedures<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d873b32 elementor-widget elementor-widget-text-editor\" data-id=\"d873b32\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Frequently Asked Questions<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-706e493 uael-faq-box-layout-yes align-at-left elementor-widget elementor-widget-uael-faq\" data-id=\"706e493\" data-element_type=\"widget\" data-widget_type=\"uael-faq.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\r\n\t\t\t<div id='uael-faq-wrapper-117' class=\"uael-faq-wrapper\">\r\n\t\t\t\t<div class=\"uael-faq-container uael-faq-layout-accordion\" data-layout=\"accordion\" >\r\n\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-54d4e51\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-question-54d4e51 uael-question-span\" tabindex=\"0\" id=\"uael-faq-1\">Q: When converting from unlimited to limited, do employees need to sign new employment contracts?<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span>A: Yes, because the unlimited company will cease operations, and all employees will be hired and paid by the new limited company.<\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-ba032df\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-question-ba032df uael-question-span\" tabindex=\"0\" id=\"uael-faq-2\">Q: How long is the transition period for converting a sole proprietorship\/partnership to a limited company?<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span>A: Generally 3 months or more, depending on the scale of the sole proprietorship\/partnership.<\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-31cd14d elementor-widget elementor-widget-html\" data-id=\"31cd14d\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<iframe width=\"560\" height=\"420\" src=\"https:\/\/www.youtube.com\/embed\/8gUClWg_f3s?si=PfPKSdvT1ecHcqOK\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen=\"\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-578f17f elementor-widget elementor-widget-text-editor\" data-id=\"578f17f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Conclusion<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9ba7217 elementor-widget elementor-widget-text-editor\" data-id=\"9ba7217\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The above is a comparison between unlimited and limited companies and the solution for &#8220;converting unlimited to limited.&#8221; Both have their pros and cons; risk management and costs should be considered before starting a business. If the industry involves high risk, a limited company provides a protective umbrella to prevent shareholders from facing unlimited liability. However, in the early stages of entrepreneurship when the scale is small and the outlook is uncertain, you can start with a sole proprietorship\/partnership to test the waters, and then &#8220;convert the unlimited company to a limited company&#8221; once development is clear.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-215d6f9 elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"215d6f9\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Enquire now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-685dde5 elementor-widget elementor-widget-text-editor\" data-id=\"685dde5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tGeneral Accounting has been established for over 20 years, providing <strong>limited and unlimited company formation<\/strong> services. Trust or Company Service Provider License No.: TC002940. If you have any questions regarding <strong>limited and unlimited companies<\/strong>, our professional customer service managers can provide a free preliminary <strong>company formation<\/strong> inquiry.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c85643 elementor-widget elementor-widget-text-editor\" data-id=\"7c85643\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Further reading:<\/p><p><a href=\"https:\/\/www.genacct.com\/en\/tips-for-starting-a-business-in-hk\">[Setting up a HK Company] 8 Key Points for Starting a Company in Hong Kong! DIY vs. Using an Agency <\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/online-company-registration\">[Online Company Incorporation] What Is Electronic Company Incorporation? Same-Day Limited Company Setup Guide<\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/company-secretary-services\/\">Company Secretary Licence, Qualifications, Legal Liabilities and Duties | TCSP licence requirements and renewal guide<\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/cr-new-form\/\">[Companies Registry Documents] When does the update start? 10 FAQs on filling out new forms (with Word form downloads)<\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/%e9%9b%a2%e5%b2%b8%e5%85%ac%e5%8f%b8%e5%a5%bd%e8%99%95\/\" data-wplink-edit=\"true\">Offshore Company Development Trends | Understanding the 10 Major Benefits of Offshore Companies<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-37a3f44 elementor-widget elementor-widget-text-editor\" data-id=\"37a3f44\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div class=\"break-word\"><p>Sources<\/p><p>1. Business Registration Ordinance <br\/>https:\/\/www.elegislation.gov.hk\/hk\/cap310<br\/>2. Companies Ordinance (Cap. 622 of the Laws of Hong Kong)<br\/>https:\/\/www.elegislation.gov.hk\/hk\/cap622<br\/>3. Inland Revenue Department<br\/>https:\/\/www.ird.gov.hk\/eng\/tax\/bre_abr.htm#a3<br\/>4. IRD Business Registration Fee and Levy Table<br\/>https:\/\/www.ird.gov.hk\/eng\/pdf\/brfee_table.pdf<br\/>5. Companies Registry<br\/>https:\/\/www.cr.gov.hk\/en\/services\/fees.htm<\/p><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2520358 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2520358\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c9477e7\" data-id=\"c9477e7\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c127ce9 uae-toc-hide-heading elementor-widget elementor-widget-heading\" data-id=\"c127ce9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Questions about \"Limited vs. Unlimited Companies\"<br \/>General Accounting provides free consultation<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d482099 elementor-widget-divider--view-line elementor-invisible elementor-widget elementor-widget-divider\" data-id=\"d482099\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ca8ca7 elementor-button-align-stretch elementor-widget elementor-widget-form\" data-id=\"3ca8ca7\" data-element_type=\"widget\" data-settings=\"{&quot;step_next_label&quot;:&quot;Next&quot;,&quot;step_previous_label&quot;:&quot;Previous&quot;,&quot;button_width&quot;:&quot;100&quot;,&quot;step_type&quot;:&quot;number_text&quot;,&quot;step_icon_shape&quot;:&quot;circle&quot;}\" data-widget_type=\"form.default\">\n\t\t\t\t\t\t\t<form class=\"elementor-form\" method=\"post\" name=\"New Form\" aria-label=\"New Form\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"25519\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"3ca8ca7\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"What is the difference between an unlimited company and a limited company? Includes 8 steps to convert a sole proprietorship\/partnership from unlimited to limited\" \/>\n\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"queried_id\" value=\"25519\"\/>\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-above\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-name elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-name\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tCustomer Name\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[name]\" id=\"form-field-name\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-field_65a0d99 elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_65a0d99\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tCompany Name (if any)\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[field_65a0d99]\" id=\"form-field-field_65a0d99\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-radio elementor-field-group elementor-column elementor-field-group-field_1d1b960 elementor-col-100\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_1d1b960\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tTitle\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t<div class=\"elementor-field-subgroup  elementor-subgroup-inline\"><span class=\"elementor-field-option\"><input type=\"radio\" value=\"Mr. \/ Mrs \/ Miss\" id=\"form-field-field_1d1b960-0\" name=\"form_fields[field_1d1b960]\"> <label for=\"form-field-field_1d1b960-0\">Mr. \/ Mrs \/ Miss<\/label><\/span><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-email elementor-field-group elementor-column elementor-field-group-email elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-email\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tE-mail\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"email\" name=\"form_fields[email]\" id=\"form-field-email\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-tel elementor-field-group elementor-column elementor-field-group-field_4305727 elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_4305727\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tContact Number\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t<input size=\"1\" type=\"tel\" name=\"form_fields[field_4305727]\" id=\"form-field-field_4305727\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" required=\"required\" pattern=\"[0-9()#&amp;+*-=.]+\" title=\"Only numbers and phone characters (#, -, *, etc) are accepted.\">\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-field_d97814d elementor-col-100 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_d97814d\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tInquiries\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[field_d97814d]\" id=\"form-field-field_d97814d\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Limited Company vs. Unlimited Company\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-group elementor-column elementor-field-type-submit elementor-col-100 e-form__buttons\">\n\t\t\t\t\t<button class=\"elementor-button elementor-size-sm\" type=\"submit\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Send Immediately<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/button>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/form>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3de113e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3de113e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-829b949\" data-id=\"829b949\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8874cc6 elementor-widget elementor-widget-text-editor\" data-id=\"8874cc6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2 class=\"uae-toc-hide-heading\">Would you like to learn about General Accounting\u2019s professional services?<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5e6bbdf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5e6bbdf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-bc9ee39\" data-id=\"bc9ee39\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-be3e38b elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"be3e38b\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/www.genacct.com\/wp-content\/uploads\/2023\/08\/\u96e2\u5cb8\u516c\u53f8\u597d\u8655-\u958b\u516c\u53f8-1024x683.webp);\" role=\"img\" aria-label=\"Start a Company\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/www.genacct.com\/en\/set-up-limited-company\/\">\n\t\t\t\t\t\tStart a Company\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-96ee0b2\" data-id=\"96ee0b2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9cce176 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"9cce176\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/www.genacct.com\/wp-content\/uploads\/2023\/08\/\u8a3b\u518a\u6613\u958b\u516c\u53f8\u6d41\u7a0b-\u516c\u53f8\u79d8\u66f8.webp);\" role=\"img\" aria-label=\"Easy Company Formation Process - Company Secretary\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/www.genacct.com\/en\/company-secretary\/\">\n\t\t\t\t\t\tCompany Secretarial Service\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-d0bfa7b\" data-id=\"d0bfa7b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-583d182 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"583d182\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/www.genacct.com\/wp-content\/uploads\/2023\/08\/\u8a3b\u518a\u6613\u958b\u516c\u53f8\u6d41\u7a0b-\u865b\u64ec\u8fa6\u516c\u5ba4.webp);\" role=\"img\" aria-label=\"Easy Company Formation Process - Virtual Office\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size- broken_link\" href=\"https:\/\/www.genacct.com\/en\/virtual-office-services\/\">\n\t\t\t\t\t\tVirtual Office\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-61dadac elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"61dadac\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-85251cc\" data-id=\"85251cc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b48f2ca elementor-widget elementor-widget-heading\" data-id=\"b48f2ca\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Questions about \"Pros and Cons of Unlimited Companies\"<br \/>General Accounting provides free consultation<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b0e715 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"9b0e715\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"tel:85225819231\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-phone-alt\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M497.39 361.8l-112-48a24 24 0 0 0-28 6.9l-49.6 60.6A370.66 370.66 0 0 1 130.6 204.11l60.6-49.6a23.94 23.94 0 0 0 6.9-28l-48-112A24.16 24.16 0 0 0 122.6.61l-104 24A24 24 0 0 0 0 48c0 256.5 207.9 464 464 464a24 24 0 0 0 23.4-18.6l24-104a24.29 24.29 0 0 0-14.01-27.6z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Phone: (852) 2581 9231<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fab-whatsapp\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M380.9 97.1C339 55.1 283.2 32 223.9 32c-122.4 0-222 99.6-222 222 0 39.1 10.2 77.3 29.6 111L0 480l117.7-30.9c32.4 17.7 68.9 27 106.1 27h.1c122.3 0 224.1-99.6 224.1-222 0-59.3-25.2-115-67.1-157zm-157 341.6c-33.2 0-65.7-8.9-94-25.7l-6.7-4-69.8 18.3L72 359.2l-4.4-7c-18.5-29.4-28.2-63.3-28.2-98.2 0-101.7 82.8-184.5 184.6-184.5 49.3 0 95.6 19.2 130.4 54.1 34.8 34.9 56.2 81.2 56.1 130.5 0 101.8-84.9 184.6-186.6 184.6zm101.2-138.2c-5.5-2.8-32.8-16.2-37.9-18-5.1-1.9-8.8-2.8-12.5 2.8-3.7 5.6-14.3 18-17.6 21.8-3.2 3.7-6.5 4.2-12 1.4-32.6-16.3-54-29.1-75.5-66-5.7-9.8 5.7-9.1 16.3-30.3 1.8-3.7.9-6.9-.5-9.7-1.4-2.8-12.5-30.1-17.1-41.2-4.5-10.8-9.1-9.3-12.5-9.5-3.2-.2-6.9-.2-10.6-.2-3.7 0-9.7 1.4-14.8 6.9-5.1 5.6-19.4 19-19.4 46.3 0 27.3 19.9 53.7 22.6 57.4 2.8 3.7 39.1 59.7 94.8 83.8 35.2 15.2 49 16.5 66.6 13.9 10.7-1.6 32.8-13.4 37.4-26.4 4.6-13 4.6-24.1 3.2-26.4-1.3-2.5-5-3.9-10.5-6.6z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">WhatsApp: (852) 6818 3861<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:%20cs@genacct.com\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-envelope\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M502.3 190.8c3.9-3.1 9.7-.2 9.7 4.7V400c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V195.6c0-5 5.7-7.8 9.7-4.7 22.4 17.4 52.1 39.5 154.1 113.6 21.1 15.4 56.7 47.8 92.2 47.6 35.7.3 72-32.8 92.3-47.6 102-74.1 131.6-96.3 154-113.7zM256 320c23.2.4 56.6-29.2 73.4-41.4 132.7-96.3 142.8-104.7 173.4-128.7 5.8-4.5 9.2-11.5 9.2-18.9v-19c0-26.5-21.5-48-48-48H48C21.5 64 0 85.5 0 112v19c0 7.4 3.4 14.3 9.2 18.9 30.6 23.9 40.7 32.4 173.4 128.7 16.8 12.2 50.2 41.8 73.4 41.4z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Email: cs@genacct.com<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d19c01f elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"d19c01f\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Contact Us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2dc4b2c elementor-align-left elementor-widget__width-initial elementor-mobile-align-justify elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"2dc4b2c\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.genacct.com\/en\/set-up-limited-company\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Start a Company<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>&#8220;Should I start an unlimited company or a limited company?&#8221; is a question many new entrepreneurs face. What are the differences between a limited company and a sole proprietorship\/partnership unlimited company? Which is better? If it&#8217;s no longer suitable, is it possible to &#8220;convert from unlimited to limited&#8221;? General Accounting&#8217;s advice is that &#8220;it depends [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":24602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[140,125],"tags":[141,128,143],"class_list":["post-25519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-incorporation","category-blogs","tag-business-registration-application","tag-corporate-tax-returns","tag-start-a-company"],"_links":{"self":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts\/25519","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/comments?post=25519"}],"version-history":[{"count":8,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts\/25519\/revisions"}],"predecessor-version":[{"id":26565,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts\/25519\/revisions\/26565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/media\/24602"}],"wp:attachment":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/media?parent=25519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/categories?post=25519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/tags?post=25519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}