PRISM'S COMPANY INCORPORATION BLOG

Prism Consultancy Company Blog

PRISM Consultancy provides Company Incorporation and professional consultancy services for foreigners who are to and/or have set up companies in Hong Kong. Our one-stop business services include accounting services, auditing, tax filing, payroll services, and virtual offices.

We are an experienced immigration consultant who also provide Hong Kong Work Visa and Immigration Services to entrepreneurs & SMEs for them to employ staffs from overseas i.e. non-HK permanent residents. PRISM has more than two decades of experience assisting expatriates moving to Hong Kong. We handle more than 1,000 visa applications each year. Eventually a portion of the applicants ended up getting Hong Kong resident visas or Hong Kong Identity cards. We serve both individual and corporate clients with different nationalities.



Cash Payout Scheme HK$10,000 | Apply HK Permanent Resident Status

Cash Payout Scheme HK$10,000 Cash Payout Scheme HK$10,000 Are you eligible to apply for Hong Kong Permanent Resident Status? If you have successfully got Permanent Resident Status in Hong Kong, you are entitled to receive HK$10,000 free cash from the Hong Kong government under the Cash Payout Scheme – This free cash is a supporting fund available for all persons with HK Permanent Residence. If you have not applied for ...

Hong Kong Small Business – How to Survive in Hard Times

Hong Kong Small Business - How to Survive in Hard Times? Hong Kong small businesses need to prepare for the worst, such as an economic downturn that is happening in the local market. Let’s go through the hard time survival guide for small businesses with the following approaches. Video Conferencing To-do-lists Low Budget Marketing Cutting Operational Cost Go Out of the Box Review the Basics Connect with Peers Video Conferencing ...

Government Plan To Subsidize Hong Kong Employers

Government Plan To Subsidize Hong Kong Employers The Chief Executive, Carrie Lam, mentioned that the new Coronavirus has been an unprecedented challenge, and the government will make an unprecedented response, including the introduction of an employment protection plan worth HK$80 billion. The plan is to provide wage subsidies to eligible employers, so that Hong Kong employers can keep all their employees at their current jobs. In return for accepting this ...

Accounts Receivable Aging Report (Xero)

Accounts Receivable Aging Report (Xero Report) The Accounts Receivable Aging Report in Xero Accounting can keep track of all unpaid invoices for your small business. The accounts receivable aging report shows the details of each customer invoice with the number of days the unpaid invoice is overdue. The actions that you and/or any small business owner can take immediately after reviewing the report may involve the overdue invoices and the ...

Xero-Hubdoc Integration

Xero-Hubdoc Integration Hubdoc – What is It? Xero-Hubdoc integration is a powerful solution. Hubdoc is a data capture solution for bookkeeping and small businesses. When a document (e.g. bill or receipt) is uploaded to Hubdoc, the data is extracted and synchronized to Xero. Hubdoc transactions are automatically matched to the corresponding transactions in Xero bank feed. It is now ready for one-click reconciliation. How You Can Capture Documents with Hubdoc? ...

Prizes Worth HK$4 million To Go Into Lucky Draw On New Year’s Eve

Prizes Worth of HK$4 million To Go Into Lucky Draw On New Year’s Eve Hong Kong Tourism Board has planned to arrange lucky draw with HK$4 million in prizes on this year’s New Year’s Eve, after the traditional fireworks were cancelled. The draw is to open to all Hong Kong locals and tourists where there will be thousands of prizes up for grabs. It works like this: Round-trip plane tickets ...

HK Chief Executive Policy Address (2019) – How SME Owners May Take Advantages?

HK Chief Executive Policy Address (2019) - How SME Owners May Take Advantages? Hong Kong SME owners – 2019 may be a difficult year for all businesses. What are the financial benefits you are eligible to receive from the HK government (after the release of the Chief Executive Policy Address in 2019)? Financing Business Growth of Hong Kong SMEs Increase of Property Loan Increase of Subsidy in the Public Transport ...

Xero Data Feed for Hang Seng Bank (Bank Feed)

Xero Data Feed for Hang Seng Bank (Bank Feed) Connect your Xero account (www.xero.com) to all your Hang Seng business bank accounts to enable automatic updates of all transactions every day. Xero Bank Feed for Hang Seng Bank is now available. You can link your Hang Seng business bank account to your Xero account. This will enable your bank transactions to automatically import into Xero every day. After this integration ...

Elderly Health Care Voucher Scheme HK

Elderly Health Care Voucher Scheme HK Hong Kong Health Care Voucher – Where to Get it, the Benefits, and the Health Care Providers in HK The Health Care Voucher Scheme (HCVS) is available to Hong Kong elders aged 65 or above who hold a valid Hong Kong Identity Card (HKID). Elders aged 65 or above as the voucher recipients, the benefits of the Elderly Health Care Voucher Scheme to them ...

How Small Businesses Use Xero App Remotely?

How Small Businesses Use Xero App Remotely? How are some of small biz (in other parts of the world besides Hong Kong) making good use of Xero? CASE#1: How Eat My Lunch’s Iaan Buchanan Uses Receipt Bank? Eat My Lunch Owner and Director, Iaan Buchanan, talked about how his company has been helping children and the apps that he uses for his business. “Eat My Lunch is a social enterprise. ...

Tax Deduction MPF TVC

How to Get Tax Deduction in 2019? Tip for Hong Kong Tax Payers Do you know you can get a tax deduction for the tax year of 2018/2019? It’s like this: As a tax payer in Hong Kong, your tax deductible limit is HK$60,000 each year, and you can get tax deductible up to $10,200. Here is how. This 60K can be the sum of Mandatory Provident Fund Tax Deductible ...

Prism Consultancy Becomes Xero Partner

Prism Becomes Xero Partner We’re now an official partner of Xero! Thank you for using our service and providing us with an opportunity to become one of your reliable business partners. We are always looking for the best way to support your business and are trying to improve our services to allow our customers to benefit from one that is the most cost efficient and beneficial. Prism is very pleased ...

Google My Business

Google My Business – Does Your Company Appear There? Use this strategy to get 300 new customers! When people are Googling your business name, does your company website show up at the top of Google? If not, you’re missing 300 potential leads a month! You could have made $1,000 profit from each lead, but now you’re losing $300,000 a month! Does your company website appear at the top position when ...

Employees Compensation Ordinance Revises Compensation Levels (in 2019)

Employees Compensation Ordinance Revises Compensation Levels (in 2019) All Hong Kong employers have been placed with an increased liability since 26 April 2019. A Resolution was passed to revise the levels of compensation. The nine compensation items that have been affected are under the 6th Schedule of Employees’ Compensation Ordinance (i.e. the ‘ECO’), Chapter 282 of the Laws of Hong Kong (see enclosed Appendix). The nine items under Employees Compensation ...

Hong Kong Public Holidays (in 2020)

Hong Kong Public Holidays (in 2019 & 2020) Hong Kong Public Holidays 2019 New Year's Day: 1 January, Tuesday Chinese / Lunar New Year: 5 February, Tuesday The 3rd Day of Chinese / Lunar New Year: 6 February, Wednesday The 3rd Day of Chinese / Lunar New Year: 7 February, Thursday Ching Ming Festival: 5 April, Saturday Good Friday: 19 April, Friday The Day Following Good Friday: 20 April, Saturday ...

Restricting Corporate Directorship in Private Companies

Restricting Corporate Directorship In Private Companies Section 457(2) of the new Companies Ordinance requires that every private company must have at least one director who is a natural person. It is expected that the new Companies Ordinance will come into operation in 2014 after enactment of all subsidiary legislation. The new requirement is applicable to all private companies registered under the new Companies Ordinance. Regarding the position of private companies ...

Hong Kong Economic and Trade Information in 2013

Hong Kong Economic and Trade Information in 2013 1. Latest Developments The Hong Kong economy expanded moderately by 3% year-on-year in real terms in the first three quarters of 2013, after growing by 1.5% in 2012. Domestic demand continued to render the key impetus to growth, with private consumption growing robustly by 4.4% in the first three quarters of 2013, amid the stable income and employment conditions. Investment expenditure, on ...

Retail rents continue to rise in world’s most expensive shopping streets

Retail rents continue to rise in world’s most expensive shopping streets Hong Kong’s Causeway Bay named as most expensive destination in 25th anniversary edition of Cushman & Wakefield’s flagship retail report Hong Kong’s Causeway Bay remains the world’s costliest retail location for the second year running and breaks through the $3,000 per sq ft barrier for the first time in the survey’s 25-year history. New York’s Fifth Avenue and Avenue ...