Now that you know the different company setups, it’s time to learn how to determine their setup prices. The cost of setting up a company will vary depending on the type of company and the jurisdiction in which it is set up.
Generally, the hong kong company setup price for a limited company will be higher than for a sole trader or partnership. This is because there are more legal and administrative procedures involved in setting up a limited company. The cost of setting up a company in a high-tax jurisdiction like the United Kingdom will also be higher than in a low-tax jurisdiction like Singapore.
There are several factors that you need to take into account when determining the setup price for a company:
- The type of company you want to set up
- The company’s domicile (location)
- The company’s tax regime
- The number of shares that need to be issued
- Any additional legal requirements
- Any extra services that are required, like accounting, filings, etc.
For example, an accountancy practice based in the United Kingdom may require several months’ worth of accounts data before it can give you an accurate quote for its setup fees, while a similar accounting firm based in Singapore may not require any initial data at all before giving you a quote for your setup price and the open corporate bank account. If the types of services required are different between two firms, then their prices will also differ. This is just one reason why it is important to do your research before settling on a company setup service.