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.

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

Comparison with unincorporated business
	Sole proprietorship	Partnership		Corporations
No. of owner(s)	1 Member	2 －20 Members	1 －50 Members
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.

Setting up of Unlimited Company charge and time request.

Service Fee and Time Required for Setting up of H.K. Unlimited Company:
	Plan A	Plan B
Business Registration Fee	HK$ 2,150	HK$ 2,150
Our Service Fee	HK$ 600	HK$ 800
Time Required(#)	About 4-5 working days	About  7-8 working days
Documents Obtained(*)	Business Registration Certificate	Business Registration Certificate, Company Chop and Required Documents for Opening Bank Account
Total Amount	HK$ 2,750	HK$ 2,950

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

             (#) The time required is counted from the date when all required set-up documents were signed and delivered to us.

 

New client (who sets up a new unlimited company) could enjoy the below special discount(*):

	SIGNIFICANT CONTROLLERS REGISTERS (1 Year)	VIRTUAL OFFICES ADDRESS SERVICES (1 Year)
Services Fee (After Discount)	HK$ 500(i)	HK$ 1,000(ii)

Remark:

 (i)Special offer for one-year-Significant Controller Registry Service at HK$ 500 only (original price is HK$ 1,000)

 (ii)Special offer for one-year-Virtual Office Address Package Service at HK$ 1,000 only (original price is HK$ 2,000)

 

Procedure of Setting up of H.K. Unlimited Company:
1.	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.
2.	We will contact the client in order to confirm all required information has been provided.
3.	Client pays the service fee (please refer to Payment Method).
4.	We will prepare required documents in 1 working day.
5.	Client must comes to our office to sign the documents.
6.	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.
7.	Client could open the bank account with provided minutes and Certified True Copies of all relevant documents.

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