Sleek vs Osome: Hong Kong Company Registration Service Comparison [2024]

If you are considering expanding your business into Hong Kong, there’s a high chance you might have come across either Sleek or Osome, maybe even both. 

But what is the difference between these Sleek and Osome? Which one should you use to help you start a company in Hong Kong? 

In this article, we'll explore what makes each provider stand out, compare their services and costs, and help you determine which is best suited for your business needs. Finally, we’ll provide an alternative company registration service provider for you to consider besides Sleek and Osome.

💡Before we get started, here's a survey study of 120 entrepreneurs on how much it costs to incorporate a company in Hong Kong.

Sleek is a digital platform that started its services in Singapore in 2017 and expanded into Hong Kong in 2019. It is positioned as an all-in-one digital platform that helps entrepreneurs register their companies and manage their governance, accounting, and tax compliance online.

Currently, they operate in Singapore, the UK, Australia, and Hong Kong.

Sleek offers three packages for Hong Kong company incorporation.

*None of the packages include a registered address. You can only obtain a registered address with Sleek by selecting it as an add-on service for HKD 2,000.

Osome is a cloud-based business management platform founded in 2017. It is headquartered in Singapore and has operations in Singapore, Hong Kong, and the UK. 

The company offers online bookkeeping, accounting, administrative task management, secretarial services, and company incorporation services for small and medium businesses.

Osome offers two packages for company incorporation in Hong Kong.

In this section, we compare Sleek and Osome across all aspects. 

To provide a quick overview: if you have a single shareholder and want to minimise costs, Sleek's Starter package is a better choice. However, if you need accounting and auditing from the beginning, Sleek's Success package is more suitable, although the cost is higher.

For businesses that want a local registered address, Osome’s all-inclusive package is a better option. However, it provides less detailed information on specific services such as shareholder coverage and changes in company particulars.

Now, let's explore the details.

In Hong Kong, you must have a Hong Kong company secretary who is either a local resident or a licensed Hong Kong Trust and Corporate Service Provider (TCSP) to assist with secretarial services, ensuring compliance.

Both providers offer basic company secretarial services, but Sleek's detailed offerings provide a clearer picture of what's included. Osome's services are adequate but less transparent. 

Here is a comparison of their company secretary services, highlighting the essential details needed to stay compliant:

Both packages offer sufficient services for initial needs. However, Sleek provides better transparency by detailing additional services and their prices, though the extra cost could be a drawback.

In comparison, Osome provides less detailed information on their Hong Kong company incorporation services page. While they mention features such as online share distribution management, a capital table, and management of unlimited company changes, they do not specify what constitutes these 'company changes.' 

After forming your company in Hong Kong, the next important step is to open a business bank account. This allows you to receive payments and cover business expenses while keeping your personal finances separate from your business ones.

Sleek and Osome do not directly offer business accounts on their platforms, but they assist clients with the application process. Sleek partners with Airwallex to facilitate applications for an Airwallex business account. Similarly, Osome aids in applying to both traditional banks and neobanks, such as HSBC and Airwallex. 

The specific benefits and criteria for account approval will depend on the bank or fintech provider chosen.

Osome provides a broader range of customer service channels, including a live chat, alongside standard phone, email, WhatsApp, and contact form options. 

However, Sleek specifies its service hours, giving customers clarity on when support is available. Osome's lack of specified service hours may leave customers uncertain about the best times to seek assistance.

Which service is better between Sleek and Osome ultimately depends on your specific needs. 

Sleek is the better option if you prioritise the ability to customise a range of services and need detailed information and breakdowns of additional costs. It’s also ideal if you require monthly accounting services from the start with your incorporation package. The main drawback is that it takes time to understand the actual cost, and some premium service fees are on the higher side.

Osome is the better option if you prefer an incorporation package with a registered address and want to minimise the time required to understand your overall options, though it lacks shareholder coverage details and does not include accounting services in the same package.

Note that both Sleek and Osome offer more accounting, audit, and company secretary services as separate packages, with prices varying across different tiers. Although some services may not be included in their incorporation packages, they may be available as separate offerings. This article, however, focuses solely on their company incorporation packages.

If neither of the two providers meets your needs, you might want to consider Statrys. 

Statrys was founded in 2019. At first, it only provided payment services for businesses incorporated in Hong Kong, Singapore, or the BVI. In 2022, it expanded its services to provide company registration services in Hong Kong and Singapore. 

What differentiates Statrys from Sleek and Osome is that Statrys provides a business account service in-house, which means you are not being forwarded to another payment service provider or a bank to apply for an account.

This means that the process of company registration and business account opening will be more seamless.

Let’s take a look at what Statrys offers: