Accounting Services

We See It as an Art

Despite its indispensability, accounting is frequently overlooked. At Fung, Yu & Co, our job is to make accounting simple, understandable and practical for our clients. We provide companies with comprehensive accounting, bookkeeping and financial reporting services, so that your company has access to accurate and up-to-date financial data to forego unnecessary risks and avoid costly investments.

What We Can Do:

  • Prepare financial statements based on Hong Kong Financial Reporting Standards (HKFRSs) or International Financial Reporting Standards (IFRSs);
  • Prepare individual accounts for branches and subsidiaries and report directly to overseas holding companies;
  • Advise for the improvement of client accounting and internal control systems;
  • Provide cost analysis and budgeting to help formulate management regulations so as to save costs; and
  • Provide training for client staff. 


In terms of flexibility and cost-effectiveness, we are the top choice for many local branches of multinational companies as well as local corporations that wish to reduce costs and allow company resources to focus on core business. Our clients are from a wide range of industries, apart from trading and service companies, we also served those licensed under the Security and Future Commissions (SFC) such as asset management companies, private wealth management firms, Venture Capital firms, Representative Offices of foreign banks and family offices etc.

Audit & Assurance Services

Effective Assurance, Even in Dynamic Markets

With an increasingly globalised marketplace comes new business and regulatory challenges. We can help your company navigate the risks and potential burdens of entering this lucrative but ever-changing environment. Find out how we can tailor our auditing and assurance services specifically for your organisation’s needs and discover the difference we bring to accountability and transparency.

Strategic Advice for Total Compliance

Our professional auditing services enable our clients to better understand their business needs, while providing them with timely and constructive advice to manage their future expansion. We report to the shareholders of each company independently, and our strategic advice ensures compliance with local legal requirements at all times and earmarks potential issues along with solutions to mitigate them before they escalate.


We perform annual audits in accordance with Hong Kong Financial Reporting Standards (HKFRSs) or International Financial Reporting Standards (IFRSs). We provide professional opinions relating to accounting and auditing issues and advise clients of relevant legal requirements and regulations and their compliance.

Reporting Accountants – Transactions


For mergers and acquisitions, we can perform assurance engagement on financial statements, issue accountant’s reports, and prepare unaudited pro forma financial statements and profit forecasts.


Financial Statement Reviews


We provide reviews through inquiry and analytical procedures to financial statements such as interim financial statements and issue review reports based on our results. Generally speaking, the scope of a review and level of assurance is less than an audit.


Compilation Engagements


Apart from general audit and assurance engagements, we can assist in providing compilation engagements which assist our clients in the preparation and presentation of financial information. The engagement can be carried out on a monthly, quarterly or annually basis.


Agreed-Upon Procedures Engagements


We can tailor our engagements for clients to focus on specific areas of concern in order to meet their needs. We can provide reports of factual findings of agreed-upon procedures without expressing assurance opinions. Relying on our factual findings, clients can prepare for further action or formulate their business strategy based on our services.


Projections and Forecasts


In order to meet client needs, we can prepare prospective financial statements that present the projected financial position and results of operations and cash flows under given hypothetical assumptions.

We can perform due diligence for companies to identify transaction issues before they escalate during mergers and acquisitions. With our experienced professional team, we can help our clients to uncover potential risks and crises and can analyze and understand the target’s affairs and financial status.

We can assist clients in the litigation process through financial investigations and forensic accounting through collecting and providing an analysis of financial and accounting information, preparing requisite independent accountant’s reports and acting as an expert witness.

Our professional team can provide assistance to clients through independent valuations of a business entity in accordance with international valuation standards for purposes such as acquisitions, disposals or mergers.

We can assist clients in the assessment and improvement of internal control effectiveness and compliance with corporate governance reporting requirements by performing a review of internal control system results with our professional recommendations on possible areas for improvement.

Advisory Services

Reinforcing Local Wisdom with International Insight

Every new market is a new challenge, presenting fresh risks alongside lucrative potential opportunities. Equip your businesses in Asia with detail-minded services that heighten your competitive advantages and leverage expansive local knowledge and keen global insight to reap the best returns. Our comprehensive corporate solutions are designed to help you seize opportunities across borders in Hong Kong and Mainland China. We take care of the expected details and the unforeseen requirements, so you can focus on building your business abroad.

Opening the Gates to Asia’s International City

Hong Kong has a long history as one of the world’s most important trading centres. As a Special Administrative Region of China, Hong Kong continues to offer plentiful opportunities for foreign investment and room for sustained growth. Its established legal and administrative bodies and simple tax regime is coupled with a world-class banking system and easy access to major financial hubs in the region. These factors make it an ideal location for your company’s headquarters in Asia, as well as offering a strategic springboard into the Chinese market. 


Strategic Positioning


Nestled in the heart of Asia, Hong Kong is only a brief 5-hour flight from most major cities in Mainland China; half the world’s population and one of the fastest-growing markets is only a 5-hour flight away. Our international airport counts as among the busiest in the region, with direct flights to over 180 international destinations worldwide including 44 major cities in China.


Gateway to China


For the past 150 years, Hong Kong has served as the preferred gateway into China. Its advanced infrastructure, unique geographical location between the East and West and great industrial spirit has firmly established it as Asia’s leading commercial, financial, legal and logistics centre. As China opens its trade to the world, Hong Kong’s natural position as the gateway into this thriving market cannot be underestimated. Not only does the HKSAR have the advantage of long-term experience trading with China, it is also culturally and linguistically compatible in a way few other trading hubs can boast of.


Setting up a company in Hong Kong is fast and easy and provides an ideal vehicle for further expansion in the region. Among the many benefits of using a Hong Kong company as a key to investment in China is that companies in the region receive preferential tax treatment under the current CEPA (“Closer Economic Partnership Arrangement“) regime between China and Hong Kong. In addition, Chinese is the official language of law in Hong Kong as well as in Mainland China, offering a practical advantage for foreign investors negotiating this dynamic new market.


Apart from its strategic relationship with China, Hong Kong has also entered into various Double Tax Treaties with over 53 countries worldwide, allowing for great tax incentives in Hong Kong as a hub for conducting international trade within Asia.


Our advisory services combine our network in Hong Kong and China and provide customised, pertinent solutions that will enable you to establish your business quickly and efficiently in Hong Kong with a view into China. At Fung, Yu & Co., we are committed to providing the level and scope of services of an international firm with the personalised attention and care of a smaller firm. We welcome you to contact us and learn more about how we can tailor our services based on your company’s needs and future expansion plans in the region.

Paving the Way to Prosperous New Beginnings in the Mainland

Lured by the rapid expansion of China’s flourishing foreign investment environment, companies all over the world seek entrance into this promising emerging market. China is the fastest-growing economy in the world, with an average annual GDP growth rate of over 7%. Its economy is the second largest in the world after the United States. Gaining a stake in the Mainland offers access to a potential customer base in the most populous nation on Earth – home to over a billion people. However, while it is clear that great opportunities abound for businesses to invest in China, the nation’s complex financial environment, complicated laws and administrative regulations and unfamiliar operating environment may seem forbidding to companies entering the region for the first time.  


We open doors for you in this challenging new market.


Our firm has assisted various local and multinational companies from Hong Kong and abroad in setting up their presences in the Mainland, and we possess the experience and expertise to assist in their on-going statutory compliance and needed maintenance. Our dedicated teams of advisors are fluent in English, French, Mandarin and well-versed in Chinese business and taxation requirements. As a one-stop provider of accounting and corporate solutions in Hong Kong and China, we are fully capable of offering all the help you need to get your business started under one roof. Your organization will be consistently served by a single team throughout its operations in the region – with no middlemen or confusing sub-contractors. We are well equipped to assist you in:


  • Setting up Representative Offices, Sino-Foreign Joint Venture (JV) or Wholly Foreign Owned Enterprises (WFOE) in China
  • Provide due diligence for mergers and acquisition projects in China
  • Consult on a wide variety of other cross border transactions, including tax advice and accounting, audits and other professional support.

Dedication Makes Us Better


Acting as a company secretary for a listed company requires expertise that is vastly different from acting as a company secretary for private companies and is a highly specialized service only provided by very few professional services providers in Hong Kong. We have a dedicated team led by experienced Chartered Secretary to serve clients listed on the Hong Kong Stock Exchange. We offer a ‘one-stop’ compliance service package to listed companies based in Hong Kong, Mainland China and other overseas countries. Our basic company secretarial services for listed companies include:


  • Acting in the capacity of Company Secretary and/or Authorized Representative,
  • Providing our office address as the company’s principal place of business in Hong Kong,
  • Liaising with the company’s share registrar in Hong Kong and preparing monthly returns,
  • Assisting the company in the publication of corporate financial results (interim and final),
  • Advising on corporate governance frameworks and related practices in compliance with regulatory requirements,
  • Advising on procedures in relation to meetings, voting, chairman scripts and investor relationships,
  • Drafting of various circulars and announcements.


Besides working with a dedicated team of experienced professionals, outsourcing the company secretarial work of a listed company is also cost-saving. We are confident that with our ample experience in this area and our high standard of service, we are fully able to assist you.


Feel free to contact us and see how we can help you to improve!

Tax Services


Handling taxes, whether they are Hong Kong individual income tax or China corporate tax, is never a task anyone looks forward to. Our tax services cover everything that you will need both for business and individual tax returns.

Utilizing the tax benefits available for corporate taxpayers in Hong Kong requires specialised professional knowledge and practical experience. We bring in-depth local knowledge and expertise to your company’s tax preparation process, based on a thorough understanding of your business’s specific needs. Our tax advisors can assist in equipping your organisation with customised, tax-efficient strategies that evolve with your current business developments and future plans.


One unique aspect of the Hong Kong tax system is the territorial source concept, such that income or profits will only be taxed if it arises in or is derived from Hong Kong. In addition to various benefits the territorial system brings, the various double tax treaties that Hong Kong has entered into with over 53 countries can provide tremendous benefits when using Hong Kong as an outbound investment vehicle. 


We provide a full range of taxation advisory and compliance services including:


  • Statutory tax compliance services, including acting as the profit tax representative and assisting in fulfilling statutory compliance requirements under the Inland Revenue Ordinance (“IRO”),
  • Advising on tax aspects during restructuring or reorganization,
  • Advising on tax exposure during mergers & acquisitions,
  • Advising on tax exposure in out-bound investments and how to legally minimize the same,
  • Handling field audits and investigations from the Inland Revenue Department (“IRD”): we have provided assistance on many cases for clients regarding field audits and investigations from the IRD. Working with clients hand in hand, we ensure their rights as taxpayers are fully protected under the IRO framework.
  • Advance ruling application: empowered under the IRO, taxpayers in Hong Kong are eligible to apply to the IRD and obtain a clear direction regarding their tax position on a certain transaction or arrangement by way of an advance ruling application. We have vast experience in handling such applications in dealing with the IRD.

As an evolving economy, laws and regulations in China are constantly updating and changing, and actual practices vary from city to city and province to province. In addition, as Mandarin Chinese is the only official language in China, a lot of foreign investors find it more challenging from conducting business in Hong Kong.


Our dedicated teams of professional accountants and tax practitioners in Beijing, Guangzhou and Shanghai provide true bilingual tax advisory services to foreign investors with a deep understanding of local practices and applications. We can assist in the preparation and filing of corporate tax returns, negotiate with tax bureaus and provide advice on other Chinese tax compliance and advisory needs covering Enterprise Income Taxes, Individual Income Taxes, Business Taxes, Value-Added Taxes and other miscellaneous local taxes and surcharges in China.

Data indicates that nearly two-thirds of foreign direct investments in China were conducted through Hong Kong, while over half of outbound investments from China into overseas markets were also channeled through this international financial hub. The reasons for using Hong Kong as a major platform for inbound/outbound Chinese investments is not incidental, but due to a variety of reasons such as its bilingual legal framework, geographical location and world-class banking system.

Following every business transaction usually comes the question of tax exposure. In our area of expertise, this is the most frequent area of concern for clients and indeed is a question that we handle each and every day. With our vast experience in this area, we are very well equipped with assisting clients for tax concerns regarding inbound/outbound Chinese investments.

M&A activities has always been active in Hong Kong and China, notwithstanding which stage of the economic cycle we are in. Hong Kong has always been a strategic platform as part of most Merger and Acquisition deals in the region, and we have been frequently involved in and have provided advice on tax exposure, specifically profit tax exposure on disposal and stamp duty exposure during the transfer of ownership in an M&A exercise. Our team of experienced advisors are able to help you avoid pitfalls and unforeseen tax burdens and help you navigate through them by formulating plans and strategies to legally minimize tax burdens foreseeable in M&A deals.

In terms of locating Asia Pacific headquarters, Hong Kong has always been one of the most popular choices among multinational companies. Hong Kong is home to thousands of senior executive working in the region.


Apart from corporations, we have advised numerous senior executives on remuneration packages and how to reduce both personal taxes and employer corporate tax burdens to the minimum. We cater most individual tax engagements from basic personal tax compliance to structuring remuneration packages, bonuses and option schemes to corporate statutory compliance related to their staff and executives.

Every individual, whether a resident or not, once benefits such as salaries or fee incomes are sourced from China, he or she is possibly subject to the Individual Income Tax of China.


We provide a wide spectrum of bilingual individual income tax compliance and advisory services to expatriate staff and executives. With a deep understanding of local practices and applications, we can assist in the preparation and filing of individual income tax returns, negotiate with tax bureaus and advise on other Chinese tax compliance and advisory services.

Following globalization, the circumference of every business circle continues to grow, and people are needed to connect things together and keep the circle moving. The increased mobility of business executives often brings about complex tax issues.


Focusing on Hong Kong and China, we offer practical solutions to these executives by advising on their individual income tax exposure regarding income in Hong Kong and China. We have been serving the senior executives of many sizable foreign entities with operations in both Hong Kong and China.

Human Resources Advisory Services

Human Resource Solutions

Statutory compliance issues associated with recruiting, hiring and terminating employment in Hong Kong and China can be complicated and may backfire, which companies surely wish to avoid. Our human resources advisory services provide reliable services at a reasonable price for your human resources needs.
Our Human Resources Advisory Services include:


  • Compliance & liability management including employment contracts and staff handbook preparation services,
  • Payroll and pension (MPF and ORSO) management and auditing,
  • Social Security and labour law compliance consulting,
  • Benefits & compensation scheme establishment and advise,
  • Auditing on human resource procedures and documents to ensure proper legal compliance,
  • Employer and employee tax return preparation and filing,
  • Advisory services for talent recruitment.


We cater to each and every client’s specific needs and seek to provide tailor-made solutions for them.  Our human resources advisory services are best suited for those companies looking to outsource their HR department in Hong Kong and China to reduce costs and increase efficiency.

Visa Solutions

Moving People to Move Business 


With the increased internationalization of modern business environment, business experts, just like their companies, may find themselves following their products to their new markets. In addition to traditional assurance and taxation services, we also have a team of dedicated HR professionals to provide solutions to help alleviate visa issues for expatriates in Hong Kong or immigration to Hong Kong under various schemes. We offer clients consultation and assistance while handling applications with the Hong Kong Immigration Department for visas via the following routes: 


  • Professional route: suitable for persons who wish to apply for entry for employment as professionals in Hong Kong.
  • Investment route: suitable for persons who wish to establish or join a business in Hong Kong.
  • Other routes: suitable for highly skilled or talented persons to settle in Hong Kong that can enhance Hong Kong’s economic competitiveness; and suitable for persons who are second generation of emigrated Chinese Hong Kong permanent residents from overseas.

Trust Services

Personalized wealth planning

Over the years, we, Fung Yu & Co has been working closely with business owners from all over the world to build up their business empires. We went through their ups and downs together, and we always want to provide them with the best solutions in different stages of their lives.

Attributed to the strong technical backgrounds from both arms of our group; CPA firm and corporate services, we have taken further step in developing our personalized wealth planning services.

And as requested and enquired by many of our existing clients, we have added fiduciary services to complete our services spectrum to cater our clients’ needs from wealth creation, wealth preservation and wealth succession.

What we can do:

As an integrated platform, we are devoted to assist you in:


  • Succession planning
  • Trust Administration
  • Estate Administration
  • Liquidity planning
  • And other tailored services

Canadian Immigration Tax Advisory

Canadian Tax Planning and Immigration Solutions

Canada has long been one of the most sought-after choices for migration for Hong Kong people. As well known for decades, Canada has great living environment, easy pace of life, comprehensive welfare system, sound education system and very low crime rate. It is the ideal country of residence – evidenced by the fact that Canada has been selected as one of the most livable countries in the world for many years.


Recently, migration has once again become a hot topic in Hong Kong. In view of this, we have set up a Canada Relocation Team led by experienced Canadian Tax Advisor and Canadian Migration Lawyer to provide a full range of (1) Pre-migration tax advisory, (2) Immigration service and (3) post-immigration tax and business support services for those who wish to migrate/return to Canada.

Canada’s tax system is quite different from the tax system in Hong Kong. Hong Kong has a simple tax system with very low tax rates. In Canada, the tax system is comparatively more complicated: whereas there are more variety of taxes and the rates are higher. Based on our years of experience in advising and resolving clients’ cross-border tax issues, we recommend that clients can start their migration planning from a tax perspective, from fully understanding the possible tax implications that may arise from their move, to ultimately plan their move carefully to legally minimize their overall tax burden. Look for a tax advisor that can understand and provide sound and practical advice for both your Hong Kong and Canadian needs? Look no further. Click here to reach us for help.

Our Canada relocation team provided Canadian migration services to the selected few. Unlike main stream migration service provider, we focus on Migration via Investment scheme in selected jurisdictions, and as you expected from a professional firm, we only provide quality service through quality program. Our program is especially suitable to those that have cross border tax concern, which we assist by starting to plan his tax situation while at the same time cater his Canadian migration needs.

Real entrepreneur and businessman never stop, don’t you? We understand your strong drive in business and hence if you are starting a new life in Canada, we shall be happy to assist you in setting up your business in Canada including set up Canadian corporate structure, bank account opening, tax compliance, payroll and other needs in supporting your new business in Canada.

We are proud to introduce our Canadian Relocation team: led by two experienced Canadian tax advisor and immigration lawyer. Both of them have more than 20 years of experiences in taxation and immigration assisting clients with tax issues and planning. They are committed to serve your needs for relocating to Canada.


Canadian Tax Advisor – Miss Elaine Cheung

Miss Elaine Cheung graduated with a Bachelor of Business Administration from Brock University (Canada), and a member of the Chartered Professional Accountants of Canada.

Prior to joining our firm, Elaine had over 23 years of public accounting experience. She started her practice in GRANT THORNTON Toronto office and afterwards, started her own practice in North York, Ontario 20 years ago. Elaine is experienced in serving various sizes of enterprise in different industries, including manufacturing, trading, retail and professional corporations for their Canadian inbound investment needs including their tax compliance, accounting, audit, payroll and other corporate compliance issues.


Elaine now co-head our Canadian Relocation Team and is based in our firm’s Hong Kong office. Press here to contact Elaine for a consultation.


Canadian Migration Lawyer – Mr. Mikael Charette

Mr. Mikaël Charette graduated from the Faculty of Law at the University of Ottawa, a Juris Doctor degree from the Faculty of Law of the University of Victoria, and a Master in law at the City University of Hong Kong with honors. Mr. Charette has a long experience dealing with Asian investors outbound needs to Canada, Europe and USA. Before joining our firm, Mikael was the Managing-Partner in China of an International Law firm from 2009 to 2015. He collaborated with major law firms and investment funds in Canada, USA and Europe on cross-border transactions, including financing and acquisitions of overseas entities. Mr. Charette was also a lecturer at the Desautel management faculty of McGill University. In addition, he sat on various Boards of directors including, Canada-China Business Council, the HK Canada business Association, the Canadian Chamber of Commerce in Shanghai, and the Institut Innovation Gatineau a regional incubator and accelerator.


Mikael now co-head our Canadian Relocation Team and in based in our firm’s Shanghai office. Press here to contact Mikael for a consultation.


Hong Kong

10/F., Guangdong Investment Tower,

148 Connaught Road Central,

Hong Kong


Tel: +852 2541-6632

Fax: +852 2541-9339


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Suite 1206, Jing’an China Tower,

1701 Beijing Road West,

Jing’an District, Shanghai, PRC


Tel: +86 21 6289 8813
Fax: +86 21 6289 8816

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Flat D, 11/F, Yueyun Building,

3 Zhongshan 2nd Road,

Guangzhou, PRC


Tel: +86 20 8762 0508

Fax: +86 20 3762 1108


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Suite1715, Building B,

Vantone Financial Center,

No.2 Fuwai Street, Xicheng District,

Beijing, PRC 100020


Tel: +86 10 6591 8087

Fax: +86 10 8599 9882


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20 Rue Cambon
75001 Paris, France


Tel: (+33) 1 44 50 40 55


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12 rue Jean Engling

L-1466 Luxembourg


Tel: (352) 2740 6430


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