Substance in Hong Kong
A company that exists only on paper is a red flag for banks, tax authorities and partners. We give your Hong Kong company real presence — an office, people and local phone lines — quickly and without the hassle.
Why a registered address is no longer enough
For years, a Hong Kong company could operate with little more than a registered address and a company secretary. That era is over. Banks, payment providers, the Inland Revenue Department and international counterparties now look past the certificate of incorporation and ask a simple question: does this business really exist here?
“Substance” is the answer to that question — visible, verifiable proof that your company has a place of business, people working for it, a way to be reached and real operations in Hong Kong. The more substance you can show, the easier it is to open and keep bank accounts, rely on tax benefits and win the trust of the people you do business with.
Intergroup builds that presence for you, at the level your business actually needs — from a virtual office with a local number to a fully staffed physical office.
office formats — physical or virtual
virtual office with your own room number, 1 year
Hong Kong SIM card with online account
office, hiring and phone lines coordinated for you
Build your Hong Kong presence
Tell us what you need — office, staff or phone lines — and we will propose the right set-up with a clear quote.
+852 5803 1008What substance usually involves
There is no single official checklist — banks, tax authorities and partners each weigh the evidence in their own way. In practice, a Hong Kong company with genuine substance typically has most of the following:
A real business address
An office where the company can receive mail, meet clients and be visited — not just a registered address shared by hundreds of companies. Even a virtual office with its own room number is a meaningful step up.
Local people
Employees in Hong Kong who carry out the company’s core activities, with proper employment contracts, MPF enrolment and payroll records.
Local phone numbers
A Hong Kong office line and mobile numbers that clients, banks and authorities can call — a basic but frequently checked sign of a real business.
Management and decisions in Hong Kong
Key decisions taken in Hong Kong, board meetings held and minuted here, and directors who are reachable and actively involved.
Real operating expenses
Rent, salaries, utilities and service contracts paid in Hong Kong through a local bank account — expenditure that matches the scale of the business.
Proper records and reporting
Books, contracts, invoices and audited accounts kept in Hong Kong and consistent with the business the company says it carries on.
Where substance makes the difference
Substance is rarely a box-ticking exercise. It is what decides the outcome in the situations that matter most to an international company.
Opening and keeping bank accounts
Banks and EMIs routinely ask where the company operates, who works for it and whether they can visit the office. Visible substance shortens onboarding and reduces the risk of accounts being reviewed or closed.
Foreign-sourced income exemption (FSIE)
Under Hong Kong’s FSIE regime, entities of multinational groups that want certain offshore passive income — such as dividends, interest and disposal gains — to remain exempt generally need adequate qualified employees and operating expenditure in Hong Kong.
Tax residency and treaty benefits
When a company applies for a Certificate of Resident Status to use Hong Kong’s double tax agreements, the IRD looks at where it is managed and controlled. An office, staff and local decision-making support the application.
Trust with partners and suppliers
Counterparties, marketplaces and payment providers increasingly verify addresses and phone numbers. A real office and local contacts make your company look — and be — established.
Visas for you and your team
Employment and investment visa applications are assessed on whether there is a genuine business behind them. An office and a hiring plan strengthen the case considerably.
Licences and regulated activities
Regulators typically expect a physical place of business and responsible staff in Hong Kong before granting licences — for example, a Money Service Operator licence.
How we build your substance
Three building blocks — office, people and phone lines — that you can combine at whatever level your business requires. One team arranges all of them.
Office rental
Whether you need a credible address today or a fully equipped office for your team, we find it, negotiate it and set it up.
Virtual office
A Hong Kong business address with your own unique room number added to your registered address — so your company has an identifiable office of its own, not just a shared address. The fastest, most economical first step.
Physical office
A real workplace for your team — from a desk in a serviced business centre to a private office. We search the market, arrange viewings in person or by video, negotiate terms and help you move in.
- Unique room number for your company
- Office search, viewings and lease negotiation
- Lease review and move-in support
- From serviced desks to private offices
Staff recruitment
Your substance is only as strong as the people behind it. We help you find, hire and onboard staff in Hong Kong — and set the employment up properly from day one.
Search & selection
We define the role with you, source candidates, screen them and shortlist the best fits for interview — from office administrators to sales, operations and finance staff.
Employment set-up
Employment contracts, MPF enrolment, employees’ compensation insurance and IRD employer notifications — coordinated so you are compliant from the first payroll.
- Role definition and candidate sourcing
- Screening, shortlisting and video interviews
- Contracts, MPF and mandatory insurance
- Employment visa support for foreign hires
Phone numbers
A local number is one of the first things banks and clients check. We set up Hong Kong phone lines for your office and SIM cards for you and your team.
Office numbers
A Hong Kong landline or virtual office number for your company that can be forwarded to any phone — so you are reachable on a local number wherever you are.
SIM cards
Hong Kong mobile SIM cards with an online account. Every Hong Kong SIM card must pass Real-Name Registration — you can complete it yourself, or we handle it with you from start to finish.
- Local landline or virtual number
- Call forwarding to any phone
- SIM cards with online account
- Real-Name Registration assistance
Substance that matches your business
Not every company needs a full team on day one. We recommend the level that fits your banking, tax and commercial goals — and scale it up as you grow.
Essential presence
For holding and trading companies that need a credible local footprint.
- Virtual office with your own room number
- Hong Kong office number
- Company SIM card
Operational presence
For companies that run day-to-day business from Hong Kong or depend heavily on banking.
- Desk in a serviced office or a small office
- Office line and SIM cards
- Your first local hire
Full presence
For regional headquarters and groups relying on FSIE or tax treaty benefits.
- Private office for your team
- Recruitment of qualified staff
- Management and board meetings in Hong Kong
Transparent pricing
Service fees from our current Hong Kong price list, in US dollars.
Address & virtual office — 1-year lease
Unique room number added to the registered address.
US$800
Address & virtual office — 2-year lease
US$1,200
Physical office search & lease arrangement
Our service fee. Rent from US$100/month, deposit 2–3 months, agent commission 1 month. Fee US$800 if monthly rent exceeds HK$5,000.
from US$600
Recruitment
1–2 months’ salary
SIM card — self Real-Name Registration
SIM card + online account; the client completes Real-Name Registration.
US$150
SIM card — with full assistance
Includes our assistance with Real-Name Registration.
US$200
Office phone numbers and larger office or team set-ups are quoted individually. Rent, deposits and salaries are paid directly and are not part of our service fees.
See the full price listBuild your Hong Kong presence
Tell us what you need — office, staff or phone lines — and we will propose the right set-up with a clear quote.
How it works
Tell us your goals
Banking, FSIE, tax residency, licensing or simply a stronger local profile — your goals define how much substance you need.
We design your set-up
We recommend the right combination of office, staff and phone lines, with a clear quote and timeline.
We put it in place
Office search and lease, number and SIM activation, candidate search and employment paperwork — handled by our team.
We grow with you
As your business expands, we scale your office and team and keep your substance consistent with your company records and accounts.
Why build your substance with Intergroup
One partner for everything
Office, recruitment and phone lines — alongside company secretary, accounting and banking support — from one coordinated team.
Right-sized, not oversized
We recommend the substance you actually need for your goals, not the most expensive option on the market.
Local market knowledge
We know Hong Kong’s office market, landlords, agents and hiring landscape — and how to negotiate within it.
Transparent fees
Our service fees come straight from our published price list, so you know the cost before you commit.
Remote-friendly
Video viewings, video interviews and remote onboarding — most of your set-up can be arranged before you set foot in Hong Kong.
One consistent story
Your address, phone numbers, staff and accounts all tell the same story — exactly what banks and the IRD expect to see.
Frequently asked questions
Does Hong Kong have an economic substance law like the BVI or Cayman?
Hong Kong has no general economic substance law that applies to every company, as the BVI and the Cayman Islands do. However, substance requirements apply in specific situations — most notably under the FSIE regime for multinational group entities — and in practice banks, the IRD and counterparties assess substance when they make their decisions.
Is a virtual office enough?
For many holding and smaller trading companies, a virtual office with its own room number and a local phone number is a solid, cost-effective foundation. Where you rely on FSIE, treaty benefits or particularly demanding banks, a physical office and local staff are usually expected. We help you assess which applies to you.
Can you hire staff before I visit Hong Kong?
Yes. Candidate search, video interviews and employment paperwork can all be handled remotely. If you plan to bring staff in from abroad, we can also assist with employment visas.
What is Real-Name Registration for SIM cards?
Under Hong Kong’s Real-Name Registration Programme, every SIM card must be registered with the user’s identity details before it can be used. You can complete the registration yourself through the online account, or choose our fully assisted option and we guide you through it.
How long does it take to set up?
A virtual office and SIM cards can usually be arranged quickly. Finding and leasing a physical office, or recruiting staff, depends on the market and the role. We give you a realistic timeline with every quote.
Will substance affect my company’s tax position?
It can, so substance should be planned together with your tax position. Substance in Hong Kong supports FSIE and treaty claims, for example, but it also needs to be consistent with any offshore profits claim. We coordinate with your accountants and tax advisers so that everything fits together.
Give your company real presence in Hong Kong
Office, people and local phone lines — arranged by one team, at exactly the level your business needs.