From Blank Slate to Day One: Build Your Clinic's Financial and Compliance Foundation Correctly From the Start
Opening a private clinic in Hong Kong involves more than finding premises and buying equipment. Before the first patient walks in, you need a registered company, a business registration, an MPF scheme, a bank account, an accounting system, a payroll process, and a plan for your first-year tax obligations. Get any of these wrong at the start and you'll spend significantly more time and money correcting them later. BM has guided over 50 new clinics through this process, from the first conversation to the first month's accounts.
The Setup Mistakes That Cost More to Fix Later
The setup errors BM most commonly helps new clinics correct: incorporating a company without advice on share structure or director arrangements, then needing to restructure 12 months later; opening a bank account with a bank that doesn't work well for clinic operations; failing to set up MPF before the first employee's 60-day threshold is reached; not separating clinic finances from personal finances from day one; and doing accounts informally for the first year with the intention of sorting it out later, which always costs more to sort out than doing it correctly from the start. None of these are unavoidable. They all result from not having structured professional support at the start.
Who This Suits
- Doctors, dentists, TCM practitioners, veterinarians, or allied health professionals planning to open a private practice in Hong Kong
- Existing practitioners moving from employed status to private practice
- Practitioners opening a second location or adding a new operating entity
- Medical professionals relocating from overseas who need to understand Hong Kong compliance requirements
- Any clinic operator who hasn't yet sorted company structure, MPF, bank account, or accounting setup
What's Included
5 Steps to Launch
Structure Conversation
We advise on the right operating structure before anything is filed: sole proprietorship vs. limited company, share and director arrangements, and how the clinic's ownership goals affect the setup choice.
Company Registration and Business Licensing
We handle company registration with the Companies Registry, business registration, and advise on clinic licensing applications and the relevant regulatory authority requirements.
Banking and Accounting System Setup
We advise on bank selection, guide the bank account application, and set up the accounting system with a chart of accounts appropriate for clinic operations.
MPF and Payroll Setup
We establish the MPF scheme for employed staff, prepare payroll process documentation, and advise on the right structure for each staff type: employment contracts with MPF for nurses and casual employees, and service agreements with IR56M reporting for self-employed locum doctors.
First-Year Tax Planning and Ongoing Handover
We prepare a first-year tax position, establish the annual filing calendar, and transition the clinic into regular monthly bookkeeping and payroll management.
What You Get
Why Getting the Setup Right Matters
The cost of fixing a poorly structured clinic setup is significantly higher than doing it correctly at the start. Restructuring a company after incorporation involves legal fees, stamp duty, and restarting compliance timelines. Incorrect MPF setup creates exposure from the first month. Twelve months of informal accounts is twelve months of records that need to be reconstructed, billed at auditor rates, not bookkeeper rates. And a bank account that doesn't work with your accounting system means manual reconciliation every month for as long as you use it.
Planning to Open a Clinic? Get in Touch
Tell us your clinic type, intended opening timeline, and where you are in the setup process. We'll guide you on the right next steps.
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