Willis Cheng & Company

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Audit Services - statutory and special

We conduct statutory audits of limited companies for their annual tax return. We also conduct special or tailor made audit and issue professional reports to serve our clients' unique requirements in the following areas :-

  • annual accounts of trade associations
  • investigations into irregularities
  • application and renewal of general banking facilities
  • litigation support and provision of expert witnesses
  • application of legal and commercial license (e.g. moneylender and employment agent license)
 

We also give advice on a full range of accounting matters and operation system during our audit and make recommendations on the strengths and weaknesses of our clients' internal control system for management purpose.

Taxation Services

We act as tax representives of our clients to prepare and file their tax returns annually, such as profits tax returns, salaries tax returns, property tax returns and all kinds of employer returns.

The range of services we have on taxation matters includes:-

  • Tax planning and advice for companies and individuals to minimise their tax liabilities in accordance with relevant legislation
  • Estate duty and stamp duty planning
  • Assistance in handling queries from Tax Authorities
  • Tax field audits and investigation
  • Objection and appeal against tax assessment
 

Accountancy Services

             
If our clients do not have any supporting staff in Hong Kong, we can assist in maintaining the accounting books and records of their companies so as to give timely information on the performance of their businesses. Such accounts can be prepared periodically (ranging from monthly to annually) depending on the needs of our clients. As for clients who need to have their management accounts reviewed periodically, we can also assist them on this aspect.  

Company Secretarial Services

      Our sister companies, Trade Management Limited and Trade Secretarial Limited respectively, deliver a range of professional services including:-
  • incorporation of offshore companies
  • increase in share capital
  • change of directorship
  • alteration of M&A
  • transfer of shares
  • acting as registered company's secretary in Company Registrar 
  • handling annual return and other forms required under the Companies Ordinance
  • preparing of appropriate minutes
  • nominee director and shareholder
  • registered/correspondence office accommodation
  • application of relevant license, e.g. Money lender license
  • handling banking documents
 

Incorporation of HK, China and Overseas Companies

Besides handling company secretarial issues, our Company Secretarial Department also assists clients with their tax planning by incorporating HK, China and overseas companies. Quickly and easily, our clients can have a new tailor-made or ready-made company formed and its bank accounts with a renowned financial institution properly arranged. Given our sound advice, clients can then promptly decide on the company’s structure such as capital amount, proportionate shareholding, number of directors, contents of the company's regulations, etc

If you are keen in exploring the China market, we can help you set up a China registered company; but more importantly, we provide you with specific information on the market situation of your particular business in any city in China. Valuable information such as each city’s recognition of your business, its minimum capital requirements, licensing requirements, and tax requirements are crucial to you especially if you are a new-comer to China. Rest assured that our partners and associates in China are reputable professional firms who are excellent in giving helpful advice, executing capital verification report, and managing your day-to-day accounting and tax matters.

 

Company Debt-Restructuring and Liquidation Services 

  • Members' voluntary winding-up 
  • Consultation on Debt Recovery
  • Consultation on Company Financial Risk
  • Company Business and Finance Restructuring
  • Creditors' Voluntary and Compulsory Winding-Up
  • Monotoring and appraising performance of companies in financial difficulty
  • Deregistration of small and medium companies from companies registrar

Individual Debt-Restructuring and Insolvency Services

Due to recent economic downturn, our company launched a brand new department in June 2002 aiming to serve Debtors in restructuring or consolidating their debts by enabling Debtors to continue their employment and thus avoid bankruptcy.  We give sound advice to Debtors to present a fair and equitable arrangement to creditors through various channels:

  • Individual Voluntary Arrangement (IVA) under Bankruptcy Ordinance  (Chapter 6)
  • Debt Relief Plan (DRP)
  • Interbank Debt Relief Plan (IDRP)
  • Direct negotiation with Creditors
 
 
Since June 2002, our Messrs. Cheng Kui Hei Willis, Leung Chi Cheung John, and Chan Man Fai are recognized by the Court as experienced nominees in relation to the IVA for the purpose of supervising its implementation. They have already assisted numerous Debtors to avoid life-long negative impacts from going into bankruptcy.

 

Corporate Financing Services

Our Company's approach of focused expertise and long record of success have attracted clients to raise money for their business through us. 


Our services of equity and debt financing closely partner with major banks, financial companies, institutional investors, corporate investors, venture capitalists and high net worth individuals.


Mergers and Acquisition and Due Diligence
As a business advisor, we provide information for investment and management purposes by reviewing a target company's operations or any specific part of a target company.  With our professional experience and independent perspective, the due diligence review often provides idea or insight to investor or management.

Our due diligence reviews are focused on the following areas:

  • Provide financial information by reviewing historical financial performance and carry out profit forecast 
  • Identify material risk by reviewing the internal control system to identify strengths and weaknesses and provide feasible solutions on weak areas

 

Litigation Support

Our company has associated with certain well-known solicitors firms to give advice and support in litigation matters on all aspects.

 

Residence Under Capital Investment Entrant Scheme

Our company provides maturity and reliable 'one stop' service of applying 'The Hong Kong Capital Investment Entrant Scheme' for our client including evaluation of applicants' prerequisite and providing professional advices for this scheme.

Besides, we can, according to the requirement of the scheme, issue professional reports to streamline the procedure and to shorten the processing time. We can also represent the applicants to prepare and submit the application forms and relevant documents to the Immigration Department and do the follow-up until the successful of the applications.

That's not the end of our services. We would also help our client to extend the stay in Hong Kong by issuing required audited reports to Immigration Department in every two years till our clients get the Permanent Residence in Hong Kong.

 

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