Key Takeaways
Sleek is well-suited for businesses seeking customisable company formation services with optional comprehensive accounting features.
Hong Kong is a premier business hub, recognised for its straightforward and favourable tax system and its role as a gateway to China. With its GDP projected to reach USD 427 billion by 2025, the city also showcases strong economic health.
As more entrepreneurs seek to capitalise on business opportunities in Asia, Hong Kong's favourable business environment is making it an increasingly popular choice for establishing a company.
This growing interest is also driving an increase in incorporation service providers, who assist with company formation and offer ongoing compliance and administrative support. One such provider is Sleek. If you're considering Sleek, you may be wondering if it’s the right fit for your needs.
In this review, we’ll explore Sleek’s packages, fees, customer service, and company formation process to help you decide if Sleek is the right choice for you.
What Is Sleek?
Sleek began its journey in Singapore in 2017 and expanded to Hong Kong in 2019. It is a digital-first platform that offers online solutions designed to simplify company formation and administrative tasks.
Sleek has raised 34 million in four funding rounds. Their most recent funding included 14 million in a Series A round in November 2021 and 11 million in another Series A round in December 2021.
The company provides SMEs with a suite of services, including bookkeeping, accounting, tax support, and corporate compliance. Their goal is to assist entrepreneurs across Singapore, Hong Kong, the UK, and Australia in managing their business operations efficiently.
Sleek Pros and Cons
- Customisable plans
- Assistance with opening a business account and a business card with Airwallex.
- High flexibility, with various accounting, audit, administrative, and secretarial services on the same platform.
- Complex pricing structure that requires time to understand the actual prices and how they differ from the starting price.
- High costs, especially if you do not have a local address in Hong Kong. Sleek’s basic incorporation service starts at HKD 5,349, and the most recommended package starts at HKD 8,849. These fees cover only 1 shareholder and do not include the cost of a Hong Kong-registered address, which is an additional HKD 2,000. A Hong Kong registered address is required for compliance.
Tip: Not sure if Sleek is the right choice? Explore Statrys vs. Sleek and the best company incorporation services in Hong Kong to learn more.
Things to Consider Before Choosing a Company Registration Service Provider in Hong Kong
Before we proceed with the review, let’s briefly outline what to consider when selecting a company registration service provider for a Hong Kong company. This may help you determine if Sleek meets all your needs.
Essential Services
The provider should assist with key requirements and documents, as well as fundamental ongoing compliance. For Hong Kong company formation, this includes the following essentials:
- Name check
- A Hong Kong registered address, which cannot be a P.O. Box.
- Hong Kong Company Secretary, which needs to be a local or a licenced provider.
- Articles of Association
- Business Registration Certificate (BRC)
- Certificate of Incorporation
- Maintenance of Statutory Records
- Significant Controllers Register
- Annual Return Filling (NAR1)
Customer Support
Reliable customer support is crucial. You need to be able to contact the provider to track your process. More importantly, after incorporating your Hong Kong company, you should receive official incorporation documents that verify your registration and include all your company details.
Good customer support ensures you have someone to address any issues with these important legal documents. Assess their responsiveness, accessibility, and communication channels to confirm that they offer the methods you prefer and are available in a time zone that suits your needs.
Fees
Look for these factors, which often incur additional costs:
- Government Filing Fees: Confirm whether government filing fees are included in the service package or charged separately.
- Registered Address and Company Secretary: Confirm if costs are included and the scope of services.
- Shareholder Limits: Determine the number of shareholders included in the base price and the cost of adding more.
- Changes in Company Structure: Find out if fees for changes in company structure, such as adding or removing directors or shareholders, are included or if they incur extra charges.
Understanding these costs helps determine if a provider fits your budget.
Sleek Hong Kong Company Incorporation Service Features
Tip: Explore a full guide on Hong Kong company formation and how to set up a company in Hong Kong.
Sleek offers three main packages for Hong Kong company incorporation: Starter, Grow, and Success, with the Grow package being the most popular, according to Sleek’s website.
Each package includes different features. The details are as follows:
Starter Package
- 1 shareholder
- Certificate of Incorporation (CI)
- Articles of Association
- Business Registration Certificate (BRC)
- Company secretary services
- Upkeep of company registers, including the significant controllers register
- Maintenance of statutory company records
- Filing of Annual Return NAR1
- Preparation of documents for the Annual General Meeting (AGM)
- Sleek app access
- Updating business details
- Digital signature with SleekSign
- Application for Airwallex business account and Airwallex debit card (subject to approval)
Grow Package
Everything in Starter plus
- SleekBooks accounting software access
- Annual bookkeeping is included for up to HKD 15,000 in monthly expenses. Additional fees apply if expenses exceed this threshold.
- Annual management report preparation
- Preparation of unaudited financial statements
- Dedicated accountant (Response in 5 business days)
- Employer Return (IR56B) filing
Success Package
Everything in Grow plus
- Audited financial statements prepared in accordance with HK SME-FRS
- Calculation and filing of profit tax
- Advisor
Extra Services
- Customisable package with options for adding more shareholders.
- Registered address & virtual mailroom
- Premium secretary services, including change of company name to Companies Registry, allotment of shares and transfer of shares
- Accounting & Payroll services, including faster response in 2 business days, monthly management, payroll support and basic tax structuring.
- Accounting Premium services, including faster response times within 24 hours, enhanced payroll and leave management for up to 12 employees, quarterly review meetings with a senior accountant, and ad-hoc tax structuring, planning, and advice.
Tip: Sleek allows you to customise your own package through their online registration portal. While you can select additional services, fundamental services are fixed and cannot be removed.
Sleek Hong Kong Company Incorporation Service Fees
Sleek's Hong Kong company incorporation service fees vary depending on the specific services used. Here's a breakdown of the most common ones:
Services | Fee |
Starter Package (Basic incorporation service, no registered address) | HKD 5,349 |
Grow Package (Incorporation service with annual bookkeeping, no registered address) | HKD 8,849 |
Success Package (Incorporation service with annual bookkeeping and audit, no registered address) | HKD 14,129 |
Registered address & virtual mailroom | An extra HKD 2,000/year (on top of the base package price) |
Adding 1 shareholder | An extra HKD 600 (on top of the base package price) |
Adding 2-4 shareholders | An extra HKD 1,000 (on top of the base package price) |
Adding 5-8 shareholders | An extra HKD 1,600 (on top of the base package price) |
Adding 9-19 shareholders | An extra HKD 2,700 (on top of the base package price) |
Adding 20-30 shareholders or more | An extra HKD 4,000 - HKD 5,200 (on top of the base package price) |
Premium Secretary Services | An extra HKD 2,500/year (on top of the base package price) |
Accounting & Payroll | Starting from an extra HKD 2,380/year for HKD 15,000 monthly expenses. For reference, an additional HKD 4,200/year is added for up to HKD 50,000 in expenses. |
Accounting Premium | Starting from an extra HKD 11,620 for HKD 15,000 monthly expenses For reference, an additional HKD 7,080/year is added for up to HKD 50,000 in expenses. |
Sleek doesn’t specify a maximum limit for handling expenses, but if your expenses exceed HKD 400,000, you'll need to contact them for custom pricing.
To learn more, please visit Sleek Hong Kong’s pricing page and check their Company incorporation bundle pricing.
Tip: Among the services offered, the only mandatory addition for forming a company is a registered address, in case you don’t already have a local Hong Kong address. Accounting and premium secretary services are convenient but not essential immediately when starting a company.
Steps to Incorporate a Company with Sleek
Here is the process of incorporating a company with Sleek:
- Choose Your Package: Start by selecting and customising your package on Sleek's website, then proceed to checkout.
- Provide Contact Information: Enter your name, email, and phone number.
- Select Payment Method: Choose your payment method, which may involve entering some details or opting for a bank transfer.
- Answer Some Questions: Respond to a few questions from Sleek about your company, including its type, legal entity, and details of your directors and shareholders.
- Submit Documents: If you're based overseas, you'll need to provide a copy of your passport and proof of your residential address.
- Identify Shares: Invite company members, allocate shares, and specify initial capital contributions. This can start from as low as HKD1, with exceptions for regulated sectors.
- Document Processing: Sleek will handle the processing and filing of required documents.
- Digital Signatures: Sign and process documents digitally.
Most providers require you to complete an online Know Your Customer (KYC) process.
The entire process with Sleek can be done online.
Sleek Customer Support
You can contact Sleek through various channels:
- Website: Access the Sleek contact form or book a meeting on the Sleek website
- Phone Sales Enquiries: +852 5803 2409. Available Monday to Friday, 9 am - 6 pm (Hong Kong Time)
- Phone Customer Support: +852 5803 2309. Available Monday to Friday, 9 am - 6 pm (Hong Kong Time)
- WhatsApp: Sleek’s WhatsApp link can be found on their website.
- In-Person Visit: Unit 2904, 29/F, Universal Trade Centre, 3 Arbuthnot Road, Central, Hong Kong
If you use Sleek's accounting service, the standard response time for accounting-related inquiries is 5 business days. However, you can receive faster responses by choosing higher-tier services: Accounting & Payroll services offer a response time of 2 business days, while Accounting Premium services provide responses within 24 hours.
Alternative Solution: Statrys
If Sleek does not meet all your needs for a Hong Kong company incorporation service, consider Statrys.
Founded in 2019, Statrys initially offered payment services for businesses in Hong Kong, Singapore, and the BVI. In 2022, it expanded to include company registration services in Hong Kong and Singapore.
What differentiates Statrys from Sleek is its single-package pricing, which simplifies understanding of the actual costs and features, and its in-house business account service, which streamlines company registration and business account opening.
Statrys’ package covers everything you need to start your company in Hong Kong, even if you're outside the jurisdiction. It includes a registered address, a company secretary, and an application to Statrys' multi-currency business account on the same platform.
Additionally, Statrys offers personalised assistance in recommending accounting firms that align with your transaction volume, business nature, and industry.
Here is a summary of Statrys' Hong Kong company incorporation services:
Pricing | HKD 8,600 |
Incorporation Services |
|
A Registered Address |
|
Company Secretary Services |
|
Business Account |
|
Additional Services |
|
FAQs
What does Sleek do?
Sleek provides a range of services through its digital platform, including company registration, bookkeeping, accounting, tax support, and corporate compliance, catering to SMEs in Singapore, Hong Kong, the UK, and Australia.
How much does it cost to register a company in Hong Kong with Sleek?
What is the process of incorporating a company in Hong Kong through Sleek?
How can I contact Sleek's customer support?
How long does Sleek Hong Kong company formation take?
Disclaimer
Statrys competes directly with Sleek in providing Company incorporation services in Hong Kong and Singapore, but we're committed to providing an unbiased, thorough review to help you make an informed choice.
