Online Accountants for Hong Kong Businesses
Osome personal accountants who understand your business, take over your paperwork routine, and provide active business support.
Dedicated Accountants Backed by Smart Tech
What does an accountant do?
Working with numbers, examining your financial records and filing your Profits Tax Return make you exhausted? Let your accountant handle these boring tasks!
Accountant’s job is to make sure your company’s books are in order, compile the reports for you, suggest professional advice, make sure taxes are paid on time, and focus on business growth.
Accountants that care, think and deliver
Meet your dedicated accountant who will get to know your business to tailor your Osome service, and serve as your point of contact, advisor and the one in charge. Any question or problem you have — they are ready to assist you, while you can spend your valuable time on something else and get closer to success.
No more mistakes
Maintaining incorrect records or submitting your financial statements late can result in severe penalties. So an accountant stays on guard for your compliance with the authorities and prevents any additional expenses.
Personal touch
Sure, we provide access to an accounting software. That’s how we save your time. However, it needs accurate data to work properly. To use the software effectively and fully, an experienced human touch is necessary.
The roles of an accountant at different stages of your business
Hong Kong accountants play different roles at various stages of a business. They contribute to a business’s growth. Accounting needs change as a business grows. No matter what stage your business is in, we’ve got you covered. Learn more below.
Writing a business Plan
Accountants help you ensure that forecasts are realistic and align with ongoing market conditions. An accountant chalks down the costs of starting and running the business and ensures the process is in compliance with the law.
Applying for a business loan or overdraft
Accountants spot cash flow issues and offer advisory on financing options such as business loans or overdraft. The accountant reviews your financial status, suggests the appropriate business loan for attaining the needed funds, and advises on taking an overdraft when required.
Buying a business
When thinking about buying another business, the accountant helps by conducting a performance evaluation of your assets, liabilities, profitability, and cash flow.
Taking on a franchise
Starting a business using the franchise model requires a sizable investment, followed by other expenses. Franchising involves several procedures, and employing a tax accountant can strengthen your position. Also, the accountant uses his experience, judgement, and industry knowledge to help curb business risks.
Legal structure of the company formation
An accountant can be most helpful in setting up the legal structure for your business. He offers guidance on essential aspects such as: preparing agreements for shareholders, share capital, types of shares and dividend policies, tackling tax-related obligations, and dealing with appropriate authorities.
Dealing with government paperwork
Businesses have lots of paperwork for the government, including those for the CR or Company Registry and the IRD or the Inland Revenue Department. Hiring accountants makes paperwork management easier. The accountant also makes sure the amount of tax payable is accurate and helps apply for a tax refund.
Control of income and expenses
Accountants help you attain total control of income and expenses, including allowances and government incentives. The accountant also makes sure your business cash flow is steady and safeguarded from any risks.
Audit of your company
The company Registry's current audit threshold stands at $100 million in total annual revenue and $100 million in aggregated assets. Companies with a lesser net worth and turnover are exempt from audit. An accountant helps by offering unbiased advice and ensuring that the financials adhere to the law and regulations.
Selling a business
When you decide to sell your business, the tax accountant helps by drawing a detailed exit plan, including the deal structure, associated taxes, and a financial plan for the business sale. The accountant helps you attain the three-year company accounts’ data for gauging your valuation.
Benefits of Osome Acountant
Gives professional advice
An accountant will prepare unaudited reports, arrange an audit for a specific financial period and ensure the PTR is submitted to the Inland Revenue Department on time
Thinks in advance
A professional and skilled accountant can spot problems by analysing your financial data in the past years and forecasting new plans and strategies for the following years to prevent costly and redundant actions and arrangements
Provides daily support
You personal bookkeeper collects, compiles, and analyzes your company's financial data, prepares reports, and stays on top of your questions on a regular basis
Keeps you updated
An accountant can immediately tell you if legislation has changed, or if a new rule is out in order to comply with the standard and regulations by the HKICPA and the government of HKSAR
Accounting plans for a
price that makes sense
You don’t measure your business by the number of transactions, so neither do we. Our accounting packages are tied to your revenues and sync with your financial year. Pick a monthly plan to pay a small regular fee or a yearly one and get two months free of charge.
What’s your average monthly ?
Need more?
Additional services you may need
- Application for Hong Kong Certificate of Resident Status (Tax residency) HK$1,500
- Nil Profits Tax Return, (BIR51) filing HK$1,000
Trusted by Osome
entrepreneurs around the world
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worldwide
I'm very satisfied with their services, flexibility, and reactivity.
Yannick Andre Martial Guyot HK TALENTS Limited
Osome is reasonably priced and very convenient. I ended up signing my documents while I was on the metro!
Randeep Sudan Multivertz Pte. Ltd.
Everything was so seamless, it even looked like a fraud 😀 I didn’t have to go anywhere, I just use the web and mobile app to sign the docs.
Ivan Zeljkovic Evans Media Pte. Ltd.
I’m actually surprised they kept all their promises! I found Osome on Friday and on Monday morning everything was ready.
John Lim Artac Pte. Ltd.
Many accountants I reached out to either never responded or charged extortionate amounts of money. I joined Osome and I'm incredibly happy I did.
Pawel Wargan freelancer
They use the Osome app to gently nudge me to send in paperwork, and they provide me with regular updates and reminders regarding finances and filing deadlines.
Dave Wallace DW4DAYS Pte. Ltd.
FAQ
What does an Accountant do?
An accountant plays an important role as the financial backbone of any business, large or small. They prepare and examine financial records, and make sure that transactions are accurate and up-to-date. Accountants use report data for analyzing the revenue and expenses as well as forecasting and budgeting for the following year, which could be referenced for the company's owner's decisions.Their duties include but are not limited to:
- Preparing employer's returns and tax returns
- Monitoring accounts receivable, accounts payable and budgets
- Auditing and analyzing financial performance
- Financial forecasting and risk analysis
- Advising on how to improve the company's performance based on its portfolio
- Compiling and presenting financial and budget reports
- Ensuring that financial statements and records comply with laws and regulations
- Keeping account books and systems up to date
How to find an accountant for my business?
Corporations and companies in Hong Kong are required to appoint accountants within the first few months of incorporation. In doing so, they must certify that the accountant is:
- A natural person
- A resident of Hong Kong
- Has a work permit for Hong Kong
- Suitably qualified and holds relevant certifications and experience
- Not appointed as the sole director of the corporation
Often, businesses use professional accounting firms for their accounting and financial reporting services. With Osome a team of accountants is assigned to your company based on the specific business needs.
How much does an Accountant charge small businesses?
The cost of hiring accountants in Hong Kong can vary, especially for small businesses. Packages typically include general bookkeeping, bank reconciliation, producing company financial statements and quarterly reviews, and reporting. However, for companies looking for specialist services such as management accounting consultation, tax-saving strategies, and taxation for international transactions, these services will cost considerably more. Osome covers all of these accounting services in one low monthly fee, so you never have to worry about paying extra if your business needs to change from one month to the next.
How does pricing work?
Our pricing is revenue based. We don’t charge on the number of transactions in your account or the number of invoices you upload. All prices are based on the financial year, not the calendar one.
Why do I need an accountant?
The primary role of an accountant is to examine the financial position of the business.. In doing so, the accountant is responsible for ensuring that the financial statements are accurate. Another key task is ensuring that the business accounts adhere to the laws and regulations laid out by the Company Registry (or CR). Additionally, accountants must ensure that the financial accounts comply with HKFRS (Hong Kong Financial Reporting Standards). The role of accountants also extends to assisting the business with taxation guidance and reporting, to minimise the possibility of any negative implications caused by financial non-compliance.
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