Background An One Person Corporation (OPC) has a single stockholder who can either be a natural person, estate or the subject of a trust entity. Unlike regular corporations, OPCs do not need multiple incorporators or a board of directors to register their business. OPCs can exist perpetually. Meanwhile, some entities cannot form an OPC unless…
The change of legal structures in Philippines and its consequences At the beginning, some owners might opt to start their new businesses under a Sole Proprietorship form in the Philippines. It can be quicker, more efficient and less paperwork to get a business up and running under a Sole Proprietorship. Once the business is developed,…
Holding of General Meetings in Hong Kong by Using Virtual Meeting Technology The Companies Ordinance (“CO”) and the Companies Model Articles Notice (“Model Articles”) will be modified by an Amendment ordinance coming into operation on 28 April 2023. It aims to simplify the process of holding general meetings (“GM(s)”) in Hong Kong limited companies while ensuring…
There are 4 Common Types of Business Structures in the Philippines : Sole proprietorship A sole proprietorship is the most basic type of business structure in the Philippines because it’s the simplest to set up. Sole proprietors such as general merchandise stores, small retail establishments are liable for the business’s liabilities, debt, and losses. Advantage You can control…
Background The Philippines is one of the fastest-growing economies in Asia globally with its increasing urban development, large young population and a growing middle-class cluster. The Philippine economy attracts a large range of financial technology or fintech businesses. This refers to companies that offer financial services using modern technology and software to support businesses and individual consumers,…
Opko Finance, an accounting and outsourcing services company based in Asia and managed by a French expatriate, has moved its Cebu’s Office in Cebu Exchange Tower. A PEZA-accredited office development on track to be the largest net-zero carbon-certified building in the Philippines. Cebu City has become a popular location for businesses due to its highly skilled…
Tax on properties I bought an apartment, and I rent it. How much tax will I have to pay in the Philippines? Let’s take the example of a 6.000.000.00 php apartment in the beautiful neighborhoods of Manila. I rent this apartment at 40.000,00 php per month The property tax calculated according to the place will…
How Foreigners Can Own Land & Buy Real Estate in the Philippines Exceptions allowing foreigners to acquire land in the Philippines Property was acquired prior to the 1935 Constitution; Property was acquired through hereditary succession, with the foreigner being a legal or natural heir; Purchase of a unit or units in a condominium project, subject to…
Low Cost of Living Generally, the Philippines has a low cost of living but is not the most affordable compared to other countries in Southeast Asia. Even Big cities like Manila and Cebu, famous beaches like Boracay and Palawan are very affordable and offer plenty of different solutions. Friendly English-speaking Locals The Philippines is known…
WFOE – Wholly Foreign-Owned Enterprise WFOE is the most common and oftentimes preferred business entity for international companies in China. Any company that is fully owned by a foreign investor or investors in China is in fact a limited liability company – or WFOE in short. Since the entire registered capital is foreign-sourced, it grants the WFOE’s investors…
The study focused on the following countries: Italy, Spain, Portugal, Belgium, Netherlands, Poland, United Kingdom and France. As a reminder, electronic invoice was introduced at the European level by Directive 2001/115/EC as adapted by Directive 2006/112/EC (the VAT Directive). These directives deal with the requirements for issuing electronic invoices, but do not cover their communication…
The multiple payment connections mean that your payments can be delivered as fast as possible, with most currencies arriving on the same day. These financial institutions are members of SWIFT. As a SWIFT gpi compliant payment service provider, they ensure that your payments are quicker with transparency on cost and transaction status. Some organizations have developed…
The financing of Working Capital and access to financing is the Number One pain point for SME in Asia. According to our study, SME face the following issues: Difficult access to short-term credit Demand for cost effective financing Demand for liquidity diversification Cumbersome credit application processes. Yet, some BTB financing organizations have developed online platforms…
The Philippines remains the outsourcing hotspot despite the emergence of new players in the global market, according to Bruntwork CEO Winston Ong. Most international researchers still place the Philippines as the “number one outsourcing destination.” Ong added that the BPO sector contributes around nine per cent to the Philippine economy — with contact center work…
In the current context of elevated inflation, geopolitical uncertainty and China’s slowdown, global equities fell due to these concerns. What can be done? What can be done? There are no positive catalysts for a meaningful rebound after the market correction, investors remain prudent and continue to hold significant levels of cash. Detaining a massive cash…
The previous administration of President Dutertre took measures in favor of the liberalization of foreign investments in the Philippines which translate into: The possibility for foreigners to invest in retail, subject to minimum investment conditions and per store, with an holding limited to 40% of the capital: The new law lowers the minimum paid-up capital…
The support of french companies to their international operations Opko Finance, an accounting and services outsourcing company based in Asia, attended last October the meeting of ETL Global’s French desk in Paris. This network aims to support French-speaking SMEs in the countries where they decide to set up to help their business and operations abroad,…
MANILA, Philippines — Following the easing of business-related constraints, French companies are optimistic about investing in the Philippines. Some of these companies are looking to get a foothold in the infrastructure sector. According to Mr. Philippine Matiere, head of the Movement of the Enterprises of France delegation, the move to liberalize the country’s economic climate…
To satisfy the European Union in terms of non-taxation of offshore income, Hong Kong has agreed to review its tax system and to tax foreign passive income from January 1, 2023. The Hong Kong government wishes to minimize the impact for local businesses linked to this change in regulations, by applying international standards in the…
What are the required Procedures that Foreign Employees in Vietnam shall keep in mind? Visa for experts and businessman Work permit Temporary residence card Personal income tax Compulsory insurances Labour contracts, Employment records and relations Rights and obligations of Chief of representative offices and Legal representatives of a business entity | Direct investment in Vietnam…
Employment Relations Compulsory Insurances Social insurance. Medical insurance. Employees insurance. Accident insurance. Unemployment insurance. In accordance with the Law on Social Insurance (SI), which went into force in early 2021, the employers and employees have to contribute compulsory insurance and trade union as follows: Total: 34% on the salary and wages: for the employer: 23,5% for…
Relations de travail Assurances obligatoires Assurance sociale. Assurance médicale. Assurance des employés. Assurance-accidents. Assurance chômage. Conformément à la loi sur l’assurance sociale (SI), entrée en vigueur début 2021, les employeurs et les employés doivent cotiser à l’assurance obligatoire et au syndicat comme suit : T Total : 34 % sur les salaires et traitements :…
Personal income tax (PIT) declaration, settlement, and payment are very important tasks for not only the employer but also the employee, especially when a foreign employee is recruited and working in Vietnam. Some key notes for your Annual PIT – personal income tax settlement as follows: PERSONAL INCOME TAX There are 9 typical taxable incomes:…
China Travel Restrictions Policy Updates Foreigner’s entries will not be affected if with these types of visa: Foreigners with diplomatic visa; Foreigners with official visa; Foreigners with courtesy visa; Foreigners with C visa; Foreigners engaged in necessary economic, trade, scientific and technological activities. Foreigners to enter for urgent humanitarian needs. Foreigners with a visa issued…
Introduction to Single Family Office Why set up a Family Office? To use the family fund managed by the Family Office as a platform to make investments globally To facilitate succession planning for family wealth and/or business</li To manage the family wealth and investments through a professional team To provide a pathway for key family…
It is essential to create and follow a realistic budget for your China start up. Actually, it can determine whether your business makes it out of the gates. A budget manifests how much money you will need to make in order to break even and highlights what you can and cannot afford. It also helps…
Indonesia Business Incorporation and Bank Account Opening (A Simple Guide to Business Investment in the Indonesian Market) Why Indonesia? Fourth most populous country in the world. Average GDP about 5% before the pandemic. Good political and economic stability with the fastest growing economies in Asia. Popular market to invest in South-East Asia with various sectors…
Steps during the incorporation process (i.e. opening bank account): Do your homework…which bank did you choose? Obtain the document list upfront at point of starting the incorporation Inform bank once business license is issues – have your market entry advisor submit all originals Under COVID-19, banks require a zoom conference call to meet the Legal…
Setting up a company in China? You need to sign a lease of agreement for ‘’registered office address’’ 10 key points when choosing a location Style of operation Demographics Foot traffic Accessibility and parking Competition Proximity to other businesses and services Image and history of the site Regulations The building’s infrastructure Utilities and other costs…
Budgeting for China Why is it important to create a budget for your China Business? Budgets can be seen as imposing constraints that are hard to live with and establishing goals that are hard to meet. For most people that aren’t numbers person, the one thing they’re going to procrastinate on is their numbers because…
Setting up a company in China – what roles are in the corporate management? Action Plan: Figuring out who to appoint for the following roles: Shareholder Authorized signatory of the shareholder Board of Directors/ Executive Director Legal Representative General Manager Supervisor Who should be the shareholder? Individual versus a Company Are you going to more…
What are the pain points from foreign investor’s when having those first hires? Lack of transparency A lack of understanding and language capabilities A lack of communication Spending more money on less quality A lack of trust A lack of loyalty The most important hires you’ll make are your first employees. So how do you…
What is a Trust? In short, Trust is a legal concept involving the holding of property for the benefit of others The Personnel involved in a trust are: Beneficiaries- The Beneficiaries are those who can receive benefits from the trust Trustees – The trustees are the individuals (or trust company) who own property held within…
What are the pain points of a Chinese accountant to a foreign investor? A lack of transparency, A lack of understanding and language capabilities, A lack of communication, A lack of technical skills, Spending more money on less quality compared to our home jurisdiction finance team. You need to know/determine how much VALUE do you…
The China Incorporation Blueprint What are the problems for foreign investors? Unfamiliar with the incorporation process Do not understand the timeline Confused by the document list Astounded by the amount of documents No transparency regarding the key considerations needed to be made No time and thought process is being taken into those key considerations Timeline…
What we are covering today? What is considered a trademark in China? Search the Trademark Database before Filing for Registration The “First-to-File” system Considerations for registering your trademark Trademark Hijacking IP Squatters Who should be registering their brand in China? Why is it important to new market entrants to register their brand? What should be…
Common Risk and Issues for Joint Venture – case study We noticed that most of the problems in a JV in China arose from two main cases: The alleged transfer of profits from the JV to one of Chinese partner‘s companies, Fraudulent use of legal stamps and seals of the company. Yet, several warning signs…
Trends in China’s E-Commerce Growth Market China is the biggest e-commerce market on the planet. The Chinese online retail market is right around 40% bigger than the US, and together these business sectors represent over 55% of worldwide e-commerce. Business-to-Consumer (B2C) E-commerce in China is turning out to be increasingly proficient and organized. At the…
The Asian countries are strengthening their leadership’s position in the World Economy 15 major countries of the Asian continent including China, Japan, Australia, New Zealand, South Korea as well as the members of ASEAN, countries covering more than 30% of the world population, have just signed an agreement of free trade. While Western countries are stuck…
The ASEAN zone is an attractive market for the development of European Companies The third largest economic block in the world, the Southeast Asia and Oceania zone offers new opportunities. This region represents a market with great potential, despite the health crisis affecting the world economy to develop the attractiveness of Europe. What is the…
What consequences of the new tax incentives implemented by the Australian government on the work load of Australian accounting firms ? More than half of all accounting practices surveyed (*) said they have seen an increase in workload, the highest across all industries. “As an accountant in practice, I am absolutely deluged by client queries…
The incubation of French Medtechs in Asia, a key development factor in the face of changing European Regulations A recent article published in Le Figaro discusses the impact of the new European regulations, which will come into force in 2021. “It’s a regulatory tsunami!” Stéphane Régnault, vice-president of Snitem, which brings together 480 French manufacturers…
Do you need to hire a Remote Personal Assistant ? If you are so busy that you can’t fit everything into your working day, then you need a remote personal assistant in the Philippines. Even if you can get everything done, but you are so tired that you have no energy left to relax with…
How to Boost Productivity & Lower Costs with a Flexplace Working Environment? Did you know that more than 60% of workers support a flexplace working environment? With this arrangement, employees no longer need to work exclusively from the office, but instead are able to work remotely. This arrangement can also be called telework, telecommuting, work…
Health care BPO Services: Increase your Revenue with Medical Billing Outsourcing Whether you are a general practitioner, medical specialist or surgeon, Healthcare BPO (Business Process Outsourcing) is designed to optimize your practice’s financial efficiency. Medical billing outsourcing in the Philippines is a growing industry, simply because it’s such a demanding and challenging task for many…
Should You Outsource? There are a great number of potential benefits of outsourcing, such as cost and efficiency savings; staffing, financial and operational flexibility; and freedom to focus on core activities. But ultimately each business owner or manager must assess their own individual situation and decide if the benefits outweigh the risks of ceding control…
Three Reasons A Remote Recruiter Can Help Your Business Save Money With working from home becoming a much more viable option for many employees, it’s not much of a stretch to hire a remote recruiter. Essentially, an OPKO Finance recruiter takes over the recruitment processes for your company, finding and interviewing candidates using the internet…
Offshore Staffing in the Philippines- Why is it better than hiring locally? FIND & RETAIN THE BEST POSSIBLE PEOPLE AT THE BEST PRICE People are the most important asset a company has and one of the biggest challenges you are probably facing is how to find and retain the best possible people at the best…
How Outsourcing Jobs Creates more Local Jobs? Does offshore labor hire take jobs away from locals or does it actually help to create more jobs for local Australians in the long-term? A survey conducted by the Australian Business Process Outsourcing Association, found that 45 to 65 percent of Australian organizations outsource some business processes. The reasons? In…
Hong Kong, the new hub for Tech companies & Start up Until recently, Hong Kong was not well developed in Technology area. Yet, Investment in technology companies and start is key factor of development of Hong Kong as International hub. Thanks to the HKSTP, it is now done. The support and programme by HKSTP (Hong…
How to enjoy from tax advantages with the “inpatriate” status when return to France? When an individual moves to France and resides in that country permanently, he will, in normal circumstances, also become a French tax resident and be liable to pay tax on worldwide income (“Impôt sur le revenu” – IR) to the French…
Are Companies Leaving China? A recent survey from the American Chamber in China shows that companies are not packing up and leaving China. Indeed, over 70% of respondents say they have no plans yet to relocate production and supply chain operations or sourcing outside of China due to COVID-19. Companies have been reassessing their supply…
Hong Kong, the ultimate hub for entering the Chinese Market Hong Kong is renowned for being one of the best places to develop internationally, especially in Asia, thanks to its administrative simplicity and its low level of taxation. Hong Kong is the gateway par excellence to enter mainland China because of the role devolved to…
How can your company benefit from our BPO solutions in Philippines? In the Philippines, BPO (Business Process Outsourcing) can be a great benefit to any company that requires skilled staff for labour intensive tasks. BPO process outsourcing frees your senior and in-house staff from a wide range of administrative tasks and allows to refocus on…
Tax consequences of travel restrictions on the territoriality incomes for foreign companies Due to the COVID-19 pandemic, some managers, Director or employees of foreign companies are obliged to work remotely from France during the travel ban period. This unprecedented situation raises the question of whether the presence in France of these key managers and employees…
The incubation of Startup, SME and Technology companies in Asia, a key factor of development At OPKO Finance; we help Start Up, SME, Technological companies to incorporate their structure in the best hubs in Asia and provide outsourcing services at a limited costs thanks to our off shore office based in Philippines. The advantages of…
How outsourcing solutions in Philippines can help the Accounting firms to reduce the burden of answering queries to their customers during the COVID 19 period with a dedicated customer service team ? Too often, outsourcing services in Philippines is considered simply from the cost efficiency point of view. AT OPKO Finance, we consider that our…
Confinement and tax residence in France: risks for non-residents In response to the progression of COVID19, a number of governments have put in place confinement measures to prevent the free movement of people. To this was added the slowdown or even the stopping of air traffic limiting or blocking foreigners outside their home. Some non-residents…
Philippines, Hong Kong launch free-trade pact Philippines and Hon Kong S.A.R. have decided to work together, enacting the Philippine component of the Free Trade Agreement (FTA) and Investment Agreement (IA) between Hong Kong and the Association of Southeast Asian Nations (ASEAN), which took effect on 12 May. Under the FTA, the Philippines will progressively eliminate…
Three Reasons a Remote Project manager is a solution for Business Three Reasons a Remote Project Manager is a solution for Business May 6, 2020 1. You are a small business with few employees Start-ups and SME companies don’t have enough in house resources to dedicate one staff member to the position of project manager. In…
Why Set Up company in Hong Kong? Why Set Up company in Hong Kong? May 6, 2020 Hong Kong is a gateway to Mainland China and the rest of Asia Hong Kong is a special administration region of China Basic Law – One Country, two System Common law jurisdiction, Low and simple tax system Welcoming…
Why Hire Remote Staff and Outsource Your Business to The Philippines? Why Hire Remote Staff and Outsource Your Business to The Philippines? May 6, 2020 Two of the biggest limitations when you are trying to grow and expand a business are operational costs and finding the right staff. If you outsource to the Philippines however,…
Introduction of SME Financing Guarantee Scheme There are SFGS (SME Financing Guarantee Scheme) 100%, 90% and 80% Guarantee Products. Below is table for 90% and 80%: There are SFGS 90%, There are SFGS 80% Target Enterprises SME and non-listed Eligible Enterprises Business with less operating experience and Professionals seeking to set up their own practices…
Human Resources Crisis Management Experience Sharing in Hong Kong How to prepare, face and take action for the COVID-19 crisis: When they notified for COVID-19 in the end of January, some of our clients immediately took actions, such as meeting with senior managements of all departments, collect questions from them, then prepare the answers and…
Incentives from the Government of Hong Kong S.A.R. It’s been quite a challenging time for all. We just want to drop you a quick information on which of the Government support measure recently introduced to-date that could benefit the Companies: The Government will provide wage subsidy to eligible employers to retain the latter’s employees. Employers…
Incentives from the Government of Singapore Incentives from the Government of Singapore April 8, 2020 It’s been quite a challenging time for all. We just want to drop you a quick information on which of the Government support measures1 introduced to-date could benefit the Company: 75% Government co-funding of up to S$4,600 of each local…
SME Financing Guarantee Scheme The 90% Guarantee Product under the SFGS has been introduced in December 2019 and the Product remarks as below: Risk Sharing Factor for 90% Annual Guarantee Fee Rates for borrowers with business operation history more than three years: Up to 0.36% of the loan amount Maximum Facility Amount up to HK$6…
Beijing to legalise ‘theft’ of Aussie business secrets From the Australian Newspaper dated 10 December 2019 Australian companies operating in China will have to allow Chinese government access to their encrypted data, risking their trade secrets being shared with domestic competitors. New “cyber-security” laws coming into effect in January will require every business, including foreign-owned…
What Solutions to Find and Retain Talents Yellow vest, Protest… you face difficulties to find and retain talents? December 18, 2019 Through its BPO center in Philippines, OPKO Finance provides full scope of outsourcing solutions to help its clients to focus on their core business. Outsourcing your back office operations (accounting, payroll services, sales administration,…
New requirements in Dubai and all other Emirates in UAE New requirements in Dubai and all other Emirates in UAE October 8, 2019 It is mandatory from the 1st July 2015 to maintain the books of accounts under the UAE Company Law and VAT Law. Under the article 26 of the Federal Law of 2015…
Hong Kong versus Singapore as regional headquarter base in Asia Hong Kong versus Singapore as regional headquarter base in Asia Sept 26, 2019 Hong Kong as a hub for global finance and a wonderful gateway to the Chinese market: Despite talk of the region’s decline, Hong Kong remains the exceptional gateway to access to the…
OPKO Finance Invests in Education and Learning Aug 8, 2019 Our CEO, Mr. Marc-Olivier LEVY, was invited on the 7 august 2019 by the South Western University of Cebu to share his experience in Financial management practices in Europe, Americas and Asia with students of Bachelor’s degree. It was decided in collaboration with the South…
Why Outsourcing your accounting, Payroll and other administrative services in Philippines Why Outsourcing your accounting, Payroll and other administrative services in Philippines July 9, 2019 Outsourcing our accounting, payroll services and administrative services Traditionally, accounting, payroll and administrative management have been in-house activities. However in the recent past, many organizations have seen the benefits…
Doing Business in Vietnam Doing Business in Vietnam July 4, 2019 Vietnam has become an attractive investment destination for various industries such as construction, manufacturing, real estate, energy, retail, tourism and other services. We have draft below a summary on the main information from legal and tax point of views. The Different forms of investment…
The incubation of your start up in Asia, a key factor of your development: Hong Kong is one of the best places to enter an international market, especially in Asia and enjoy a limited administrative duties with low level of taxation. The location, a political environment and economy that are trustworthy, a direct access to…
Set up a company in China China enjoys a strong economic growth since 40 years. China is very challenging in term of business opportunities for foreigners, either to source products locally, either to sale or manufacture products and/or Services. There are different forms of incorporation in China: WOEFE, Equity Joint Venture, Partnership, Representative office, The…
THE NEW IIT REFORM IN CHINA On the 01 January 2019, the new IIT system is fully implemented, with transitional period for certain preferential policies provided. The main changes are as follows: It adopts a 183-day test to determine the China tax residency, under which a foreign individual who has no domicile, but resides in…
VAT Rates in China Lowered China will lower its value-added tax (VAT) rates as part of an RMB 2 trillion (US$298.3 billion) cost cut package, as the government seeks to reduce costs for businesses amid a Slowing economy and tariff dispute with the US. The announcement was made by Premier Li Keqiang on March 5…
Why Outsourcing your accounting, Payroll and other administrative services? Outsourcing our accounting, payroll services and administrative services Traditionally, accounting, payroll and administrative management have been in-house activities. However in the recent past, many organizations have seen the benefits of outsourcing this crucial role to businesses that specialize on the same. So what benefits are you…
Set up a company in China China enjoys a strong economic growth since 40 years. China is very challenging in term of business opportunities for foreigners, either to source products locally, either to sale or manufacture products and/or Services. There are different forms of incorporation in China: • WOEFE; • Equity Joint Venture; • Partnership;…
The incorporation of your company in Hong Kong within 3 days As company secretary registered in Hong Kong, we can proceed to the E incorporate of your company in a very short timeframe. To proceed, we need to get the following information : Collect all information for incorporate a Limited company, such as shareholding and…
The Advantages of setting up a business in Hong Kong Hong Kong is one of the best places to enter an international market, especially in Asia and enjoy a limited administrative duties with low level of taxation. p style=”color: #2c2c2c; text-align: justify; font-family: Montserrat; font-weight: 100; font-style: Normal; font-size: 20px; line-height: initial; padding-bottom: 2%;”>The location,…
This is a sample title Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries,…
Our staff in Asia are trained to use different accounting softwares. We can record your operations of your hongkong and Chinese companies either on our owned software or either directly on your server by a secured VPN remote connexion. We can use SAGE, Navision, SAP Business One, Sage, Xero, I Trader. Our staff have strong…
New Personal Income Law in China – The New personal income law in China Sept 7, 2018 On August 31, 2018, the second draft of the Individual Income Tax Law was passed. The new law makes significant amendements concerning the calculation, the enforcement of individual income tax (IIT) in China as well as the principle…
China to Shorten Business Registration and Construction Project Approval Processes China to Shorten Business Registration and Construction Project Approval Processes May 28, 2018 On May 2, China’s State Council declared plans to shorten the business registration process for newly-established companies from 20 days to 8.5 days and to reduce the approval time for construction projects…
Hong Kong Companies Registration of Beneficial Owners Hong Kong Companies Registration of Beneficial Owners May 25, 2018 Hong Kong companies must record their beneficial owners starting 1 March 2018 The proposed presentation of standards requiring Hong Kong companies to monitor their beneficial owners by maintaining a ‘significant controllers register’. The new rules which amend the…
China-Germany Relations: Opportunities Emerge as Investment Ties Grow China-Germany Relations: Opportunities Emerge as Investment Ties Grow May 24, 2018 In 2017, China kept up its spot as Germany’s biggest trading partner for the second successive year. The two nations moved to a full strategic partnership in 2014 and have since profited from investments in the…
China’s FTA with the EAEU Will Improve Market Access, EU Transhipments China’s FTA with the EAEU Will Improve Market Access, EU Transhipments May 23, 2018 China signed a free trade agreement (FTA) with the Eurasian Economic Union (EAEU) today in Astana, Kazakhstan, as indicated by us would happen prior in the week. Early reports recommend…
Company Relocation and Land Appreciation Tax in China Company Relocation and Land Appreciation Tax in China May 23, 2018 Environmental protection is an increasing priority for China’s government. Since 2016, the Central Environmental Inspection Group has been getting serious on heavy polluters – especially in North China – and punishing firms that are rebellious with…
China to Simplify Business Registration for Foreign Investors China to Simplify Business Registration for Foreign Investors May 22, 2018 China will simplify business registration procedures for foreign-invested enterprises in an offer to encourage foreign investment, Premier Li Keqiang declared after a State Council meeting on May 16. The measures, which will go live on June…
Corporate Taxes in the Philippines Corporate Taxes in the Philippines May 22, 2018 In the Philippines, all businesses – domestic or foreign – are responsible to pay corporate income tax (CIT). The tax liability for a corporation is determined by its residency status and depends on the net income it acquires while doing its business…
Hong Kong’s Advance Pricing Arrangement Program Hong Kong’s Advance Pricing Arrangement Program May 21, 2018 When combined with aggressive tax planning, Hong Kong’s onshore-offshore tax regime frequently brings about a decreased tax burden for taxpayers that work through Hong Kong companies by pricing intra-group transactions. This has prompted heightened transfer pricing investigation from the Hong…
IP Protection in the Philippines’ Food and Beverage Industry IP Protection in the Philippines’ Food and Beverage Industry May 21, 2018 The Philippines’ rapidly developing food and beverage (F&B) industry is one of the greatest contributors of the country’s economy making up about portion of its manufacturing sector and contributing around 23-24 percent of the…
Withholding Corporate Income Tax in China Withholding Corporate Income Tax in China May 15, 2018 In China, withholding Corporate Income Tax (CIT) is applied to the following China-sourced incomes derived by non-resident enterprises without establishments in China, or to that derived by non-resident enterprises with establishments in China yet whose wage isn’t identified with these…
Hong Kong Enacted Legislation for a Two-tiered Profits Tax Rates Regime Hong Kong Enacted Legislation for a Two-tiered Profits Tax Rates Regime May 18, 2018 Inland Revenue (Amendment) (No.3) Ordinance 2018 for presenting a two-layered benefit assess rates administration was authorized on 29 March 2018. The two-tiered profits tax rates regime will be effective from…
China to Cut US$9.5 Billion in Taxes for Small and Micro Enterprises, High-tech Firms China to Cut US$9.5 Billion in Taxes for Small and Micro Enterprises, High-tech Firms May 15, 2018 On April 25, the State Council reported that China will cut more than RMB 60 billion (US$9.5 billion) worth of taxes for little and…
F&B sector battered by exits in 2017 F&B sector battered by exits in 2017 May 15, 2018 A whirlwind of restaurants caved under mounting competition from international brands. In the event that there is anything that Hong Kongers are getting used to, it is the pain of seeing their newest most loved eating spot close…
China’s Reduced VAT Rates China’s Reduced VAT Rates May 15, 2018 China recently lowered its value-added tax (VAT) rates, as part of an RMB 400 billion (US$64 billion) tax cut package. The Ministry of Finance (MOF) and the State Administration of Taxation (SAT) recently released the Circular about Adjusting the Rates on Value-added Tax, which…
China to Establish Hainan Free Trade Zone China to Establish Hainan Free Trade Zone May 15, 2018 Chinese President Xi Jinping has declared plans to change the whole southern island region of Hainan into a free trade zone (FTZ). As indicated by a guidance issued by the Communist Party and the State Council, China plans…
Enforcement of Foreign Awards in China: 5 Mistakes You Should Avoid Enforcement of Foreign Awards in China: 5 Mistakes You Should Avoid May 15, 2018 Since 1987, the United Nations Convention on Recognition and Enforcement of Foreign Arbitral Awards (recognized as “New York Convention”) has the strength of law in China, which has perceived and…
China’s Inbound and Outbound FDI Goals China’s Inbound and Outbound FDI Goals November 24, 2017 Foreign direct investment (FDI) in China has changed essentially as wages proceed to rise and the nation’s economy develops from a heavy manufacturing base to one drove by consumption and services. Foreign investors are adopting a warier strategy to investing…
Hong Kong International Film & TV Market (FILMART) Hong Kong International Film & TV Market (FILMART) November 21, 2017 The Hong Kong International Film & TV Market (FILMART) is the annual entertainment market organized by the Hong Kong Trade Development Council (HKTDC). It will take place during March 19-22, 2018 at Hong Kong Convention &…
Business of IP Asia Forum Business of IP Asia Forum November 20, 2017 Following its success last year, the BIP Exhibition will be staged again in 2017, offering you an ideal platform to promote your products and services to over 2,500 participants from all over the world. Jointly organised by the HKSAR Government, Hong Kong…
DesignInspire DesignInspire November 17, 2017 DesignInspire, to be held on 7-9 December, 2017, an international exhibition about creativity, partners with the Business of Design Week (BODW) to stage an exchange and inspiring platform for global creative elites, design brands, design associations and institutes to showcase their creativities. An array of interactive installations, novel ideas, design…
SmartBiz Expo SmartBix Expo November 16, 2017 The SmartBiz Expo, to be held on 6-8 December 2017, will be a one-stop platform for enterprises, particularly small- and medium-sized enterprises (SMEs), to explore trends in business transformation through innovation, creativity, application of technology and design, business-support services, and market opportunities. The debut HKTDC SmartBiz Expo is…
JMA Hong Kong (Hong Kong International Jewelry Manufacturers’ Show) JMA Hong Kong (Hong Kong International Jewelry Manufacturers’ Show) November 15, 2017 JMA Hong Kong, organized by Hong Kong Jewelry Manufacturers’ Association, comes to its 25th edition, receiving overwhelming response from industry. This cash & carry exhibition offers wholesalers and retailers a flexible trading platform to…
Cosmoprof Asia 2017 Cosmoprof Asia 2017 November 14, 2017 Cosmoprof Asia is the leading business-to-business beauty trade show in the Asia Pacific region. The show is not open to general public. If you are one of the following you are strongly encouraged to attend this show:Beauty Salons & Spa, Manufacturers, Distributors / Wholesalers / Agents,…
Doing Business in the Philippines DOING BUSINESS IN THE PHILIPPINES November 8, 2017 GENERAL INFORMATION The Philippines is an archipelagic state located in the heart of the Asia-Pacific region. It lies between the South China Sea and the Pacific Ocean. It consists of more than 7,107 islands divided into the Luzon, Visayas and Mindanao island…
Hong Kong’s goods exports up 5.4% Hong Kong’s goods exports up 5.4% October 20, 2017 Volume of goods re-exports edged up 5.6%. The volume of Hong Kong’s total exports of goods increased 5.4% year-on-year in August, the Census & Statistics Department announced. The volume of goods re-exports increased 5.6% compared to the same period last…
Funds raised by Hong Kong IPOs down 37% to $85.7b Funds raised by Hong Kong IPOs down 37% to $85.7b October 20, 2017 But the number of IPOs increased 52% to 114. Hong Kong stays over the initial public offering (IPO) scene with the quantity of arrangements in the first three quarters of 2017 up…
中國簡報 China Information 中國簡報 China Information October 20, 2017 經貿資訊Economics and Trade Information 1. 《關於調整藥品註冊受理工作的公告（徵求意見稿）》公開徵求意見Public Consultation on Notice Concerning Adjustments to the Work related to the Acceptance of Registration of Drugs (Consultation Draft) 食品藥品監管總局於2017年9月12日就上述《徵求意見稿》公開徵求意見，截止日期至2017年10月12日。主要內容包括：(a) 調整範圍凡由總局審評審批的註冊申請均由總局受理，如新藥臨床試驗申請、新藥生產（含新藥證書）申請、仿製藥申請，總局審批的補充申請以及與國產藥品註冊申請關聯申報的藥包材、藥用輔料申請等；以及(b) 上述調整自2017年12月1日起實施，藥品註冊申請可採取電子申報、郵寄或現場提交的方式提交申報資料，同時提交紙質文本和電子文檔。2017年12月1日前，省級食品藥品監管部門已簽收資料但尚未受理的註冊申請，仍由省級食品藥品監管部門組織完成受理、現場核查、生產現場檢查及抽樣等相關工作等。詳情請參閱以下網址：http://www.sda.gov.cn/WS01/CL0778/177416.html 2. 《國務院辦公廳關於進一步激發民間有效投資活力促進經濟持續健康發展的指導意見》Guiding Opinions of the General Office of the State Council on Further Stimulating Private Investment and Promoting Sustainable…
European Union in Visayas, Philippines Market European Union in Visayas, Philippines Market September 22, 2017 Organized by European Chamber of Commerce in the Philippines (EU), the European delegation headed by Ambassador Franz Jessen was in Cebu to open up doors for businesses in the Visayas to exploit the 510 million buyers in the EU. As…
How to set up a company in Hong Kong: Requirements for Incorporation of a Limited Company in Hong Kong How to set up company in Hong Kong: Requirements for incorporation of a limited company in hong kong September 18,2017 A Limited Company is the most commonly-used company type in Hong Kong. This form of company…
Philippines organized 49th ASEAN Economic Ministers’ Meeting Philippines organized 49th ASEAN Economic Ministers’ Meeting September 13,2017 ASEAN Economic Ministers (AEM) assembled last September 7, 2017 in Pasay City, Philippines, for the 49th AEM Meeting and Related Meetings, which was held from 7 to 11 September. The ministers paid a courtesy call on Philippine President Rodrigo…
Tax Incentives for High and New Technology Industries in China additionally upgraded and explained Tax Incentives for High and New Technology Industries in China additionally upgraded and explained September 11, 2017 Under the China Enterprise Income Tax (“EIT”) Law, a resident enterprise may appreciate Research and Development (“R&D”) super deduction incentive, for example, deduct 150%…
OPKO Finance est une société d’expertise comptable basée à Cebu, Hong Kong, Paris, Shanghai et Singapour. Nous accompagnons les dirigeants de PME/PMI, d’ETI dans leur développement tant sur leur marché domestique ainsi qu’à l’international. Nous les aidons à dynamiser la gestion de leur entreprise, et de les conseiller dans l’organisation des fonctions administratives et financières. A…
GOLDEN OPPORTUNITIES IN CHINA’S JEWELRY MARKET GOLDEN OPPORTUNITIES IN CHINA’S JEWELRY MARKET August 22,2017 China’s Jewelry Market : the jewelry market in China is a growing market in the country. The sector does not meet any standards known to our Western countries regarding design, trends, varieties, and raw materials, which is an opportunity to innovate…
Banking system credit growth to outpace nominal GDP growth in 2017 Banking system credit growth to outpace nominal GDP growth in 2017 August 11, 2017 Expect a further increment in corporate and household obligation. Despite the fact that Hong Kong’s systemwide credit development was modest all through the greater part of 2016, loan demand climbed…
Hong Kong eyes tax incentives new businesses and SMEs Hong Kong eyes tax incentives new businesses and SMEs August 10, 2017 It is staying competitive against regional opponents. A South China Morning post report by Nikki Sun said little and medium-sized business in Hong Kong can anticipate more tax incentives as the administration tries to…
WHY IS WECHAT SUCCESSFUL FOR YOUR BUSINESS IN CHINA? Why is WECHAT SUCCESSFUL FOR YOUR BUSINESS IN CHINA? August 9, 2017 The ascent of WeChat has been all around reported with the application definitely the most talked element with regards to planned prospective clients enquiring about marketing services in China. It is surely an entrancing…
China Work Permits: Would you say you are an A, B, or C Level Talent? China Work Permits: Would you say you are an A, B, or C Level Talent? July 26, 2017 China’s new work permit framework for foreigners was taken off across the nation on April 1 this year. Under the new structure,…
Les modalités de la TVA en France et en Union Européenne pour une société étrangère (Ventes B to B, Internet, Amazon) Les modalités de la TVA en France et en Union Européenne pour une société étrangère (Ventes B to B, Internet, Amazon) Importation de biens dédouanés en France • La TVA sera due à l’importation.…
Hong Kong Remains the Hedge Fund Hub of Asia Hong Kong Remains the Hedge Fund Hub of Asia As per AsiaHedge’s most recent study, total assets under administration (AUM) in the Asia Pacific hedge fund investments industry kept on achieving new high in 2016. The study demonstrates that starting at 31 December 2016, hedge fund…
The Securities and Futures Commission Consults on New Guidelines on Online Distribution and Advisory Platforms The Securities and Futures Commission Consults on New Guidelines on Online Distribution and Advisory Platforms July 13, 2017 The Securities and Futures (SFC) propelled a three-month discussion on planned Guidelines on Online Distribution and Advisory Platforms, asking for remarks by…
Insurance Authority Replaced Office of the Commissioner of Insurance Insurance Authority Replaced Office of the Commissioner of Insurance July 13, 2017 To line up with global practice that financial regulators ought to be monetarily and operationally free of the Government, the Insurance Authority (IA) has substituted the Office of the Commissioner of Insurance (OCI), an…
BOND CONNECT AMONG MAINLAND AND HONG KONG Bond Connect among Mainland and Hong Kong July 12,2017 The People’s Bank of China and the Hong Kong Monetary Authority made a joint declaration on 16 May 2017 on their endorsement for the important Mainland and Hong Kong financial infrastructure organizations to work together in setting up mutual bond…
3 in 10 Hong Kong employers won’t give pay rises in 2017 3 in 10 Hong Kong employers won’t give pay rises in 2017 December 17, 2016 Only 1 in 3 employees will get up to 5% increase. A greater number of Hong Kong workers can anticipate pay increase in 2017, as per new research,…
Kowloon East overtakes Wanchai/Causeway Bay as city’s second largest office market Kowloon East overtakes Wanchai/Causeway Bay as city’s second largest office market November 28, 2016 The Goldin Financial Global Center considered fundamentally. Kowloon East has surpassed Wanchai/Causeway Bay to become the city’s second biggest office advertise base on floor space. As reported by a statement…
Obtaining China’s New Unified Foreign Work Permit Obtaining China’s New Unified Foreign Work Permit November 25, 2016 On November 1, 2016, China’s State Administration of Foreign Experts Affairs (SAFEA) introduced the new unified work permit in select districts nationwide. The constrained release targets the districts of Beijing, Shanghai, Tianjin, Anhui, Guangdong, Hebei, Shandong, Sichuan, and…
China’s New Related Party Transaction Reporting Regulation: Implications for Annual Audit in China China’s New Related Party Transaction Reporting Regulation: Implications for Annual Audit in China November 24, 2016 As the end of the financial year looms, critical thoughts in regard of yearly audit should be made by multinational entities (MNEs) working in China. On…
Employees looking for new opportunities despite stable job market Employees looking for new opportunities despite stable job market November 20, 2016 Workers searching for new open doors in spite of stable occupation advertise Businesses are dared to be more creative. It has been noticed that the unemployment rate in Hong Kong stays stable with an…
Presentation: Accounting and Tax Compliance in China Presentation: Accounting and Tax Compliance in China November 17, 2016 With the full enactment of the business tax to VAT reform prior this year, China’s tax and accounting framework is as yet advancing at a quick pace toward a complex component. In this meeting presentation with AmCham, Ines…
Donald Trump in the White House: Implications for the Future of the TPP and Free Trade in ASEAN Donald Trump in the White House: Implications for the Future of the TPP and Free Trade in ASEAN November 16, 2016 US president-elect Donald Trump’s resistance to the Trans-Pacific Partnership (TPP) is notable and the future of…
2017’s third lowest “real” wage increase in APAC goes to Hong Kong 2017’s third lowest “real” wage increase in APAC goes to Hong Kong November 15, 2016 Macau will surpass Hong Kong in rankings. Hong Kongers will see their compensations increment by an average of 4 for every cent again in 2017. As indicated by…
Trump, Trade, and the Future of the Trans Pacific Partnership Trump, Trade, and the Future of the Trans Pacific Partnership November 11, 2016 Taking after weeks of campaigning, coming full circle in a formal concession from Hillary Clinton, Donald Trump is set to become the 45th president of the United States of America. Given the…
Hong Kong’s Q3 economic momentum cools on China slowdown Hong Kong’s Q3 economic momentum cools on China slowdown November 11, 2016 HONG KONG (Reuters) – Hong Kong’s economic development decelerated in the third quarter from second as feeble exports, slow retail deals and dropping tourist arrivals inflicted significant damage on the previous British colony. In…
The Benefits of Cluster Manufacturing – China’s Advantage The Benefits of Cluster Manufacturing – China’s Advantage November 10, 2016 As wages keep on rising in a progressively service oriented economy, China expects manufacturing sector to strengthen the country’s labor-intensive industries. Offering clear lines of correspondence and lower transportation costs, cluster manufacturing gives economic stability by…
ASEAN Regulatory Brief: Singapore GST Audits, Philippines Dormant Bank Accounts, and Malaysia-China Bilateral Ties ASEAN Regulatory Brief: Singapore GST Audits, Philippines Dormant Bank Accounts, and Malaysia-China Bilateral Ties November 9, 2016 Singapore: Tax Authority to Step Up GST Audits The Inland Revenue Authority of Singapore (IRAS) expressed they will stand up GST audits for big…
Indian Government Bans 500, 1000 Currency Denominations to Curb Black Money Indian Government Bans 500, 1000 Currency Denominations to Curb Black Money November 6, 2016 In a surprise move, the Narendra Modi government declared on the night of November 8 that the current US$ 7.5 (Rs 500) and US$ 15 (Rs 1,000) cash notes will…
The stock exchange in Southeast Asia ended varied The stock exchange in Southeast Asia ended varied November 1, 2016 Singapore stocks shut almost 1% higher on Friday, while three out of the five other Southeast Asian markets ended lower in accordance with broader Asia. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.4%,…
The HKSAR Government exposes strategy for executing BEPS measures in its consultation paper The HKSAR Government exposes strategy for executing BEPS measures in its consultation paper November 1, 2016 On 26 October 2016, the HKSAR Government propelled a public consultation on executing measures to counter BEPS in Hong Kong. The BEPS consultation paper issued by…
Changes in China’s Foreign Investment Administration Reform Changes in China’s Foreign Investment Administration Reform October 12, 2016 Foreign-invested enterprises (FIEs) in China can presently enroll and report data changes through a documenting process instead of the case-by-case approval process that was already regulatory measures for market entree and it will be permitted to take benefit…
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