Services

Outsourced Accounting Services

We recognise the Covid-19 pandemic has likely changed our world forever. Now, more than ever, business owners need to control fixed costs.

The key benefits of outsourcing some or all of your Financial Accounting function are:

• Experienced finance and accounting resources which business owners can no longer justify to employ full-time.
• Stakeholders can focus on the business, calling on specialised input as and when necessary.
• It provides the business owner with the ability to increase or decrease finance and accounting services as they require. Moving accounting function cost from fixed to variable. 
• Cloud based accounting software allows the business to retain ownership of the data and gives the ability to access the accounting records at any time.
• Segregation of duties – an outsourced financial accounting function allows the business owner to grow the business without the concern of having non-finance employees coming across confidential financial information of the business.
• Compliance with local tax filing requirements, again allowing the business owner to focus on growing their business.

Management Reporting

As an alternative to completely outsourcing the accounting and finance function, we also engage with companies to work alongside their existing team.

We will work alongside the team to assist with day-to-day bookkeeping entries and queries and to improve the general standard of the accounting records being maintained. We will also provide input to improve ongoing processes and increase visibility on the financial results for the stakeholders.

Furthermore, we can work with the stakeholders on producing annual budgets and tailor the monthly reporting package to report against the budgets.

With cash flow being ever more important to SMEs, we also specialise in building cash flow management tools and can build these into the management reporting on a monthly and even a weekly basis where necessary. Further increasing the visibility on the business’ numbers for the stakeholders.

We envisage the following processes forming a typical month working together –

• Sit down with your team to review prior month’s activities.
• Obtain month-end bank statements for reconciliation purposes and complete the bookkeeping process.
• Reconcile transactions during the month and review any unknown transactions with the team to ensure a clean and accurate monthly closing and to ensure files are complete for audit.
• Provide monthly reporting package in format agreed at outset. Review results with your team, discussing any variances to budgets/forecasts to assess whether any budgets or cash flow forecasts need to be reworked.
• Deal with any questions or comments you have, and/or make changes to our process to maximize value and ease to you.
• Process any amendments needed to finalise the month-end accounts, and then close the books for that month.

Business Plans and Forecasting

At GDS Consultancy we like to help business owners at the very start of their journey.

We have many years of experience in writing business plans for new business propositions. This will usually include working with the stakeholders on producing the financial forecasts which underlay the written business plan. Whilst not a direct speciality, we can also call upon our vast network of contacts and try to assist business owners with fund raising on the back of completing the business plan.

Company Formation and Secretarial Services

Hong Kong continues to draw international businesses and entrepreneurs to its shores. The following are the key attractions for enterprises, investors and entrepreneurs to set up a company in the Special Administrative Region of China:

• Proximity to the mainland;
• Perfect location on the Asia-Pacific region and along the east-west corridor;
• Openness to trade, talent, and investments;
• Business-friendly regulatory and tax system;
• Status as an international financial centre; and
• Outstanding infrastructure.

The company registration process is also quite simple and straightforward in Hong Kong. Engaging a professional service provider like GDS Consultancy is not only helpful in quickly completing the incorporation process, but the post-incorporation procedures such as obtaining a Business Registration license, the opening of bank accounts and ongoing regulatory compliance are also made easy.

Hong Kong Company Registration Requirements 

• Minimum of 1 Shareholder – Shareholders may be foreign or local corporations or individuals;
• HK$ 1.00 – The minimum initial issued share capital required;
• Minimum of 1 Director. Directors may be foreign or local corporations or individuals;
• 1 local Company Secretary. If the company only has 1 Director, the Company Secretary must be a different individual or corporation; and
• A local Hong Kong registered office address.

Register a Company in Hong Kong

We provide a full suite of Hong Kong company formation services. Regardless of the type of entity, be it a limited company, representative office, subsidiary or branch office of foreign companies, a sole proprietorship or a partnership, the clients who engage us immensely value our professional and comprehensive range of services.

As a provider of company incorporation services in Hong Kong, GDS Consultancy works with clients from a diverse range of sectors and entities of all types and sizes. We take meticulous care to ensure that documentation is thorough, and compliance is comprehensive.

Company Secretarial Services

According to the Companies Ordinance (Cap. 622) of the Laws of Hong Kong, each company is required to appoint a company secretary that is either a natural person of at least 18 years of age and ordinarily resides in Hong Kong; or, a body corporate, having its registered office or a place of business in Hong Kong. Notably, the sole director cannot act as company secretary.

Since a company secretary has to perform important duties and responsibilities to ensure that the company complies with the requirements of the Companies Ordinance, it is essential to appoint a professional service provider who is familiar with the compliance framework and prompt in fulfilling the same.

At GDS Consultancy we provide cost-competitive and timely services, taking great care in discharging our duties and responsibilities as your company secretarial services provider. We provide qualified, well-trained, competent and experienced professionals to assist in your obligations for fuss-free compliance as a Hong Kong registered company.

We service organisations of all sizes and you can trust us with your non-core compliance obligations, allowing you to focus on the growth of the business. Our expert professionals service companies that operate across diverse sectors hence stay updated on sector-specific needs and capable of drawing synergies from our network of experts in the event you need consultation on non-routine matters.

Our expert professionals have comprehensive knowledge and experience regarding Companies Ordinance, Inland Revenue Ordinance, the Business Registration Ordinance, the Stamp Duty Ordinance, the respective Articles of Association of corporations, the Companies (Winding up and miscellaneous provisions) ordinance, the Companies (Forms) Regulations and other relevant laws, regulations and rules.