Updated: Feb 19, 2020
Continue to the previous blog post about "Why you need an agent to setup and maintain your Hong Kong company?", next step forward of course is to find a reliable, trustworthy agent to build a long term relationship with. There are many agents available out there, in our experience, most of out clients concern about 1) Engaged with a scam; 2) Paying too much for too less.
Services level vs Cost
If you approach an international law firm or consultancy for a basic private Hong Kong company, it is no surprise a fee will range from USD2,500 to USD6,000 because the salary of staff that serve you, the office rental ... etc. all are sky high. Don't jump to conclusion that it is over-charge, clients approach to these firms usually because of specific purpose, for example setting up a special purpose vehicle / a structure on fund, investment, pre-IPO planning, merger and acquisition work, all these works require wide range of expert teams and networks from legal, accounting, financing, and investment banking where quite a lot of tailor-made arrangement is required. In short, how much you pay usually linked with the service level in return, and therefore, more important is that you know what you need, how professional you want and select the right agent that matches you most.
What is reasonable cost?
Always compare before engage. Remember you want to engage with an agent that you can work with for a long term successful relationship, as soon as the price is within your affordable range and not too extreme (either too high or too low), instead of choosing the lowest price agent, try to work with an agent that can answer your questions, that you can dig out more value-added service and get more knowledge on how to build-up your business with this new company, an agent that can become your business partner is much important than one-off charge of the company setup fee.