Peggy runs a gift shop in Central. She works hard and is friendly to her customers....

 

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Peggy runs a gift shop in Central. She works hard and is friendly to her customers. Her business is becoming more and more successful and she decides to expand her business and open two more gift shops in Kowloon and the New Territories. To do this Peggy will need to raise finance and she is a little concerned about the risks associated with taking loans. Her cousin, June, told her that it might be an idea for Peggy to incorporate her business. Peggy seeks your advice on: (a) whether she could incorporate her business and remain as the sole person in control of the business; (b) the way in which a company can be incorporated in Hong Kong; the consequences of incorporation; and (c) (d) how her business can be transferred to the company. Peggy runs a gift shop in Central. She works hard and is friendly to her customers. Her business is becoming more and more successful and she decides to expand her business and open two more gift shops in Kowloon and the New Territories. To do this Peggy will need to raise finance and she is a little concerned about the risks associated with taking loans. Her cousin, June, told her that it might be an idea for Peggy to incorporate her business. Peggy seeks your advice on: (a) whether she could incorporate her business and remain as the sole person in control of the business; (b) the way in which a company can be incorporated in Hong Kong; the consequences of incorporation; and (c) (d) how her business can be transferred to the company.

Answer rating: 100% (QA)

a Yes Peggy could incorporate her business and remain as the sole person in control of the business ... View the full answer