Hong Kong Accounting Firm Providing One-Stop Accounting and Tax Services with Xero
Founded in 2013, FastLane Group is a Hong Kong-based accounting firm serving over 1,000 clients, including startups, SMEs, and large corporations.
Our team comprises certified members of the Hong Kong Institute of Certified Public Accountants (HKICPA) and CPA Australia and is also a Xero Platinum Partner. We offer top-tier services in Hong Kong, including accounting, auditing, company secretarial, and company formation services.
Trusted by over 1000+ businesses
Our Accounting and Corporate Services
Available Beyond Hong Kong
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Why Choose FastLane as Your Accounting Firm?
One-Stop, International-Standard Accounting Firm
We provide comprehensive, one-stop services including company formation, company secretarial, accounting, and tax solutions to meet all your business needs.
Responsive Service
Service excellence is our top priority. We strive to respond to your needs promptly, often within one business day, ensuring you receive attentive and efficient support.
Professional Team
With over 30 years of experience, our team is equipped to deliver high-quality accounting, auditing, tax, and company secretarial services that support your business success.
Talk to Our Experts – We Can Help You Grow Your Business in Hong Kong
Start NowOur Accounting Awards
Hong Kong Advisory Partner of the Year Winner – Xero Asia Awards 2024
Hong Kong Accounting Partner of the Year Finalists– Xero Asia Awards 2021
Hong Kong Accounting Partner of the Year Finalists– Xero Asia Awards 2020
Hong Kong Accounting Partner of the Year Winner – Xero Asia Awards 2019
Our Services in Hong Kong
Accounting Services
We assist you with Xero cloud accounting software, allowing you to manage your finances anytime, anywhere. FastLane offers monthly, quarterly, or yearly accounting services, customized to meet your needs and industry requirements with professional financial support.
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Audit Services
We provide a paperless audit service, enabling a fully online audit process that saves you time and costs.
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Company Incorporation
From physical establishment, business registration, registered office address, to opening bank accounts, we offer comprehensive one-stop solutions.
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Company Secretarial Services
Director changes, annual returns, share transfers, and share allotments—we help you stay compliant, allowing you to focus on your core business.
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HR & Payroll Management
Professional payroll and tax advisory, handling all your payroll and HR management needs with strict regulatory compliance.
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Employer of Record (EOR) & Professional Employer Organization (PEO)
A cost-effective global employment solution, enabling you to access global talent and expand your international business.
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Tax Filing Services
Profit tax filing, offshore claims, tax calculation, consulting, and planning. We help you maximize tax savings while ensuring full compliance.
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Work Visas & Permits
We guide you through the complex visa application process, ensuring all immigration-related matters are handled properly.
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BVI Company Formation
We assist with the BVI company formation process, ensuring a smooth and efficient setup with knowledge of local legal procedures.
Learn MoreOur Service Timeline
Throughout the company formation process in Hong Kong, we assist you in handling all necessary government requirements:
Company Formation Services
- Submit Information and Documents: Provide us with your company name, business activities, share structure, director and shareholder information, and complete online identity verification for each relevant person.
- Document Preparation: We prepare all required documents, including the Articles of Association, Memorandum, and Incorporation Application.
- Online Signature: We’ll send the final documents to you for online signing, completing all registration steps simply, quickly, and efficiently.
- Business Registration (IRBR200) IRBR200 is one of the most essential forms that must be submitted correctly. It contains the latest and accurate information about your registered entity and is stored with Hong Kong’s Inland Revenue Department (IRD).
Corporate Bank Account Application
Opening a corporate bank account is a critical step for any business in its initial setup phase, as it helps manage funds effectively and supports daily operations and future growth.
Which Bank is Best for Opening a Corporate Account? Click to Learn More!
After establishing your company, it is essential to have a company secretary to ensure its continued compliance and stability. FastLane offers comprehensive company secretarial services to lay a solid foundation for your business growth.
Compliance and Maintenance of Corporate Governance
We ensure that your entity adheres to best corporate governance practices and complies with all relevant regulations in Hong Kong and the Asia-Pacific region.
Our support includes:
- Corporate Restructuring and Documentation: Advising on and preparing documents for company restructuring and corporate actions, including changes of directors and secretaries, share allotments and transfers, name changes, amendments to the articles, and capital reduction.
- Annual Statutory Filings: Ensuring compliance with applicable laws and regulations through timely statutory filings.
- Updating and Securing Registers: Maintaining and securely storing statutory registers, meeting minutes, and company records.
- Board Meeting Management: Organizing and managing board meetings.
- Shareholder Meeting Management: Organizing shareholder meetings.
Annual General Meeting (AGM)
AGM Requirements: The AGM must be held within six months of the first anniversary of incorporation. Its purpose is to inform shareholders of the company’s financial position and to allow shareholders to make key company decisions. The AGM is a statutory requirement under the Companies Ordinance.
Registered Office Address
Under Section 658 of the Hong Kong Companies Ordinance, all Hong Kong companies must maintain a local registered office address.
Our registered office address service offers:
- Cost Savings: Avoid high costs associated with renting physical office space in Hong Kong.
- Timely Response to Government Notifications: Ensuring actions are taken before deadlines to avoid fines from delayed submissions, such as tax filings, business registration renewals, and mandatory investigations.
- Mail Forwarding and Storage: Secure mail forwarding and storage services.
- Professional Presence: Our address can be used on business cards, websites, letterheads, and other official company documents, offering immediate recognition to investors and clients.
Once your Business Registration (BR) and corporate bank account are established, maintaining accurate daily accounting and bookkeeping is essential.
Xero System Setup
We will assist you in setting up a Xero account, allowing you to benefit from Xero’s transparency and efficiency. With Xero, you can easily manage your finances and monitor cash flow in real-time.
Financial Statement Integration
We will consolidate your financial statements, including cash flow statements, profit and loss statements, and balance sheets, providing you with a comprehensive view of your financial status.
Annual and Monthly Accounting Services
As a Xero Platinum Partner, we leverage Xero’s powerful cloud accounting platform to provide efficient bookkeeping and accounting services that comply with Hong Kong accounting standards, available on an annual or monthly basis.
As your company begins to grow, hiring employees becomes essential. FastLane offers payroll management and HR outsourcing services that seamlessly integrate with your accounting and bookkeeping needs, handling all back-office payroll functions for your business.
Payroll Management
FastLane provides comprehensive HR and payroll services for businesses operating in Hong Kong. Our dedicated team ensures seamless management of all your HR and payroll requirements, allowing you to focus on business growth. Our payroll services include:
- Employer Tax Filing
- Dedicated HR Specialist
- HR Payroll Software Setup and Implementation
- Employee Onboarding and Offboarding
- Monthly Payroll Processing
- Salary Payment Arrangement
- Employee Expense Reimbursement
- Calculation of Employer and Employee MPF Contributions
- Payroll Slip Preparation and Distribution
- Leave Management
- Monthly HR Payroll Reports
- Maintenance of Employee Personal Data
Hong Kong Salaries Tax Advisory Services
Hong Kong’s tax environment is complex and ever-changing. FastLane offers professional salaries tax advisory services to help you stay compliant and optimize your tax position. Our experienced advisors provide personalized guidance tailored to your financial situation, including:
- Salaries Tax Consultation
- Preparation and Submission of Individual Tax Returns (IR56)
- Individual Salaries Tax Filing
HR Administration and Support Services
FastLane provides end-to-end HR administration and support services tailored to your business needs. Our expert team efficiently manages all HR-related matters, allowing you to concentrate on strategic growth. Our HR administration and support services include:
- Employee Compensation Insurance (ECI) Registration
- Mandatory Provident Fund (MPF) Registration
- Employee Health Insurance Plan Enrollment
- Employment Law Compliance Advisory
- Assistance with Work Visa Applications
MPF Contribution Management
Managing MPF contributions for employees can be time-consuming and complex. We offer accurate and timely MPF management services to ensure full compliance with regulations. Our comprehensive MPF services include:
- Authorized Signatory Representation
- Monthly MPF Contribution Settlement
- Employee Registration, Termination, and Contribution Management
At the 18th month after your company’s incorporation, the government will require your business to file a tax return. The Inland Revenue Department (IRD) will mail a tax return form to your company. FastLane’s certified CPAs can provide comprehensive statutory audit services to ensure your company complies with government regulations and accounting standards.
Audit Report
Once an accountant completes your financial statements, the report is submitted to an audit firm or auditor. The audit firm then reviews the financial statements to verify their accuracy and compliance with regulations.
Audit Services
As a licensed Hong Kong CPA firm, FastLane offers competitive statutory audit and corporate tax filing services in Hong Kong dollars. Our audit services include:
- All fees are quoted in Hong Kong dollars.
- Assistance in preparing and completing audited financial statements.
- Preparation of tax computations and submission of profits tax returns.
- Service fees exclude photocopying and courier expenses.
Tax Filing Services
As your dedicated tax representative, we provide 12 months of tax management services, including:
- Receiving and managing tax-related correspondence from the IRD on behalf of clients.
- Notifying clients and their Registered Office (RO) of IRD correspondence.
- Communicating with the IRD on behalf of clients as needed.
- Seeking clarification from the IRD on tax matters or responding to IRD inquiries.
- Submitting requests for tax filing extensions on behalf of clients.
Audit report delivery and signing are completed via an electronic signature system. Requests for physical delivery will incur additional charges.
When your business is running smoothly, you may consider registering a company in BVI to enjoy the various corporate advantages it offers. Our BVI services include:
BVI Company Registration
FastLane Group provides comprehensive and reliable BVI (British Virgin Islands) company registration services, offering tailored solutions for businesses seeking to leverage BVI’s unique commercial advantages. As a leading service provider in the industry, we ensure a smooth and seamless registration process, providing professional guidance every step of the way to assist you in successfully establishing your BVI company.
Annual Maintenance for BVI Companies
Our BVI company maintenance services include:
- Annual Registered Agent and Registered Office
- Annual Economic Substance Reporting
- Annual Government Fees
- Annual Financial Statement Maintenance
BVI Company Transfer-In
We can provide both mandatory (recommended) and standard transfer-in services for BVI companies. This includes one-time handling and compliance fees, with the client’s current agent responsible for completing the transfer process.
Xero Platinum Accounting Partner
We began our journey with Xero in 2013, becoming a trusted Xero Platinum Partner. Our team of Xero experts is dedicated to unleashing the full potential of Xero for your business, transforming your accounting, credit control, and payroll processes.
We offer tailored, flexible engagement options to meet your specific needs. With Xero’s cloud-based platform, collaboration is seamless across any device with an internet connection. Say goodbye to time-wasting processes and unnecessary costs for data transfers or downloads—experience efficient, real-time access to your financials with Xero.
FastLane – HKICPA Licensed Accounting Firm
Our subsidiary, FastLane CPA Limited, is a licensed accounting firm registered with the Hong Kong Institute of Certified Public Accountants (HKICPA), Registration No. S0615. As an HKICPA-licensed firm, we undergo rigorous practice reviews and adhere to strict professional standards, ensuring top-quality and compliant services for our clients.
What Do Our Clients Say About Us
Zeros Video
Vinterra Wines
Wristcheck Exchange
Media Coverage
FastLane Group Launched Partnership Program to Connect Different Cloud Solution and Services Provider – Yahoo News
FastLane Group Conferred the Advisory Partner of the Year for Xero Asia Awards 2024 Winner
– Sina HK
FastLane Group Celebrates 9 Years Partnership with Xero Working Together to Embrace Digital Transformation
– Yahoo Finance
Interview Podcast
EP 2.3 – Globalise Business Ops with FastLane
In this episode, Lesley interviews Alex So, Founder and Group Managing Partner of Fastlane Group on how he taps into the attractive talent market of Malaysia to expand his professional business, builds effective and multicultural teams, and leverages technology to uplift employee and client experience. Fastlane is an accounting and advisory practice headquartered in Hong Kong serving around 20 jurisdictions worldwide.
About Our Founder Alex So
Mr. So has more than 20 years of experience in finance, accounting, investment and private equity businesses with global financial institutions and asset management companies.
The Importance of Accounting Firms
As the global business environment evolves rapidly, accounting firms play an essential role in modern enterprises.
Ensuring Financial Health
Accurate Financial Data: Accountants are responsible for recording, analyzing, and interpreting a company’s financial data. This information is crucial for management to assess the financial health of the business. Accurate data supports strategic planning and aids in day-to-day decision-making.
Ensuring Compliance
Legal and Regulatory Adherence: Accountants are knowledgeable about various legal and regulatory requirements, ensuring that financial statements and disclosures meet standards. This compliance reduces legal risks and enhances the company’s credibility and reputation.
Essential Management Tool
Through financial analysis, companies gain insight into their financial position, operational performance, and resource allocation. These insights help businesses identify and address issues, optimize operations, and achieve long-term growth and sustainability.
Building Credibility with External Stakeholders
Investors, creditors, partners, and government agencies rely on accurate financial information to assess a company’s value and risk. High-quality accounting services ensure the accuracy and transparency of financial statements, boosting stakeholder trust and fostering cooperation and growth.
Application of Digital Technologies
With the integration of automation and data analytics tools, accounting services can process financial data more efficiently, increasing report accuracy and reliability. These technologies also provide businesses with enhanced data insights, supporting smarter decisions and strategic planning.
Accounting services are not only essential for ensuring a company’s financial health but also support compliance, management decision-making, external trust, and digital transformation. Regardless of a company’s size, sound accounting practices are a vital foundation for sustained success and long-term growth.
Benefits of Hiring An Accounting Firm
Outsourcing your accounting to a professional accounting firm offers multiple advantages for businesses, particularly in terms of increasing efficiency, reducing costs, and focusing on core activities. Here are the seven main benefits of outsourced accounting services:
FAQ
What is an Accounting Firm?
An accounting firm is an organization that provides professional accounting, auditing, and financial advisory services. These firms are typically staffed by Certified Public Accountants (CPAs) or other finance professionals who assist businesses and individuals in managing financial matters, ensuring compliance, and enhancing financial transparency.
Key Services Offered by Accounting Firms:
- Accounting Services: Handling daily bookkeeping, preparing financial statements, and managing tax filings to meet basic accounting needs.
- Audit Services: Conducting independent audits of financial statements to assess accuracy and compliance, providing an audit report.
- Tax Advisory: Offering tax planning and compliance advice to help clients reduce tax burdens and adhere to relevant tax laws.
- Financial Advisory: Providing expert guidance on mergers and acquisitions, capital raising, and financial restructuring, supporting clients in making informed financial decisions.
- Risk Management: Assisting businesses in identifying and managing financial risks, enhancing internal controls, and improving compliance processes.
Is It Necessary to Hire an Accounting Firm for Hong Kong Company Audits and Tax Filing?
Not necessarily. The law only requires that a CPA-licensed auditor conduct the audit for a company. One of the founders of our accounting firm, along with other senior members of our team, are CPA-licensed accountants qualified to perform audit services. However, clients can also choose to manage their own bookkeeping first and then select any practicing CPA to complete the audit.
Can I Handle Accounting for My Startup with Minimal Income and Expenses?
Recording income and expenses is basic bookkeeping, not full accounting. While many accounting software options are available, learning accounting principles can be challenging, and software may not handle complex transactions accurately. For clients without accounting expertise, accountants can identify errors and manage risks, though this may involve additional fees. You can gather your data and provide it to us at FastLane Hong Kong Accounting Firm. We’ll prepare reports and statements according to accounting standards and organize all necessary documents.
Which Industries Are You Most Familiar With?
With over 11 years of experience, we have provided company formation, accounting, and tax services across a wide range of industries. We are well-equipped to handle and professionally manage accounts for any industry with expertise and precision.
Why Do Clients Outsource Their Accounting to Us?
Small businesses often require accounting services during audits, but not all accounting firms offer this service, as they cannot audit accounts they’ve prepared themselves. If clients handle their own accounting before passing it to an auditor, costs are often higher due to the adjustments required.
At FastLane, we offer competitive rates based on our extensive experience and strong industry relationships. We understand auditors’ requirements and ensure that prepared accounts pass audits smoothly. Additionally, we assist clients with inquiries, providing a truly one-stop service.
What Is the Difference Between an Accounting Firm and an Audit Firm?
While the services may be similar, the key difference is that audit firms in Hong Kong are licensed to conduct audits. Some audit firms focus exclusively on auditing and do not offer other services such as accounting or company secretarial support. At FastLane, located in Sheung Wan, we provide a comprehensive range of corporate services, including company formation, bank account setup, financial management, audit arrangements, virtual registered address, payroll management, visa services, and company secretarial support—ensuring a full suite of services for your business needs.
When Should I Outsource to an Accounting Firm?
Outsourcing accounting and bookkeeping is beneficial at any stage, whether you’re a startup or a large multinational corporation. For newly established companies lacking in-house expertise or larger businesses aiming to reduce costs, outsourcing accounting is an ideal solution. Hiring the right in-house accountant can be challenging, so many fast-growing companies opt to outsource their accounting needs. By partnering with FastLane, you can easily manage increasing demands while maintaining high standards of service quality.
Situations Where an Accounting Firm May Decline to Provide Services
Accounting firms may refuse services under the following circumstances:
- Incomplete Client Documentation: If the client fails to provide essential financial documents or information, affecting service accuracy.
- Non-compliant Business Activities: If the client engages in illegal or unethical activities, the accounting firm cannot support such operations.
- Lack of Transparency: If the client is unwilling to provide detailed financial information or withholds important facts during communication.
- Unreasonable Requests: If the client demands services beyond the firm’s capabilities or outside professional standards.
- Negative Past Experiences: If the client has a poor track record from previous collaborations, the firm may choose not to continue the relationship.
- Financial Issues: If the client cannot pay the agreed service fees.
- Legal and Compliance Risks: If potential legal issues exist that could put the accounting firm at risk.
In these situations, accounting firms typically adhere to professional standards and legal regulations to refuse services.
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