Limited partnership (Limited Partnerships Ordinance, Cap. 37) LPHong Kong
What it takes to form, own and run a limited partnership in Hong Kong, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
Quote
limited partnership must consist of one or more persons called general partners, who shall be liable for all debts and obligations of the firm
Quote
limited partnership must consist of one or more persons called general partners, who shall be liable for all debts and obligations of the firm
The registry’s and the law’s own pages do not mention it.
Quote
Unincorporated Businesses: 7.5% on assessable profits up to $2,000,000; and 15% on any part of assessable profits over $2,000,000
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Yes
What it takes to form
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the LP.
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 2
Quote
limited partnership must consist of one or more persons called general partners, who shall be liable for all debts and obligations of the firm
- A local company secretary
- Does not apply
- A local registered agent
- Not required
Quote
The registration of a limited partnership shall be effected by sending by registered post or delivering to the Registrar of Companies for registration a statement signed by the partners containing the following particulars
Each year, at the registry
Not in our records Annual registry fee, Accounts on the public record, Audit for a small company, Audit: none of these is in our records for the LP.
Important dates
When each obligation falls due, as the authority states it.
- Business registration of the partnership business
- 1 month after incorporation
With Business Registration Office, Inland Revenue Department
Counted from the date of commencement of business, not from registration as a limited partnership (a partnership other than a limited partnership fund).
- Partnership profits tax return
- Not in our records
Not stated on ird.gov.hk/eng/tax/bus_pft.htm when checked
What is public
Not in our records What the register shows the public is not in our records for the LP.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Varies · 7.5–15%
Partnerships carrying on a trade, profession or business in Hong Kong are chargeable to profits tax; unincorporated businesses pay the lower rates.
Quote
Unincorporated Businesses: 7.5% on assessable profits up to $2,000,000; and 15% on any part of assessable profits over $2,000,000
- CFC rules in Hong Kong
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
Not in our records Route, Statutory fee: none of these is in our records for the LP.
Every business in Hong Kong
VAT
- VAT or sales tax
- None levied
Hong Kong has no VAT, GST or sales tax. The Inland Revenue Department's Departmental Interpretation and Practice Notes No. 47 describe a tax system in which only three direct taxes are imposed: profits tax, salaries tax and property tax. A business therefore has no consumption-tax registration, rate or return.
Quote
Since Hong Kong has a simple tax system under which only three direct taxes are imposed (i.e. profits tax, salaries tax and property tax)
Payment and banking services
3 services name Hong Kong on their own list: Paysera, Airwallex, Stripe. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Limited partnershipDerived our grouping, the same words in every country
- Name in law
- Limited partnership (Limited Partnerships Ordinance, Cap. 37) (LP)
- ISO 20275 code
- XPE5Secondary GLEIF, Entity Legal Forms code list