Statrys vs Sleek: Company Registration Service Comparison [2024]

If you are looking to register a company in Hong Kong, there are a number of company registration service providers that can handle much of the paperwork and legal compliance work for you. These services from experts can ensure the registration process goes smoothly, preventing errors and saving you time. 

However, with many choices available, finding the best fit can be challenging.

In this article, we aim to help you compare two service providers in Hong Kong and Singapore  – Sleek and Statrys’ company incorporation services. We'll provide a full breakdown of their services, plans, fees, and customer service.

Here’s a quick summary: 

Statrys is a Hong Kong-based fintech company providing SMEs and entrepreneurs with company incorporation, multi-currency business accounts, and payment solutions. The company prioritises personalised support, simplicity, and transparency.

Let's take a look at Statry's company incorporation service package:

Statrys offers a single package at one price. This package covers the required registered address for one year and includes up to five shareholders. For shareholders exceeding 5, there is an additional HKD 1,000 charge.

Sleek is a digital solution for company setup, compliance, bookkeeping, accounting, and more. Designed for SMEs, it aims to relieve entrepreneurs of administrative burdens, offering expert support and transparent pricing.

Let's take a look at Sleek's company incorporation service packages:

 *The stated price is for one shareholder. Adding additional shareholders increases the price by approximately HKD 200 to HKD 600 each, depending on the number added. For example, the second shareholder costs an additional HKD 600, while adding 3-5 shareholders will cost an extra HKD 1,000 from the original price. 

The packages include basic company secretary services essential for starting a company. For evolving needs like share allotment or transfer, you can purchase premium features for an extra HKD 2,500.

Additionally, please note that these packages do not include registered addresses. If you require a registered address, an additional fee of HKD 2,000 will be charged.

You also have the option to customise your own package.

Having a customisable plan can be beneficial since you can add or remove features to save costs. However, it also requires time to fully understand pricing, especially given the numerous add-ons available.

In this section, we compare Statrys’ all-in-one package with Sleek’s most popular package, Grow, as recommended on the Sleek website.

In summary, both providers offer essential services for incorporating a Hong Kong company. They both help with application filings and issue key documents like Certificates of Incorporation, Articles of Association, and Business Registration Certificates.

The main differences are:

• Statrys includes a registered address and mail scanning as standard, while Sleek offers these as optional extras for an added fee of HKD 2,000.
• Sleek provides accounting services, which Statrys doesn't include. Statrys only assist in recommending suitable accounting service providers closer to the end of the fiscal year based on the client’s transaction volumes.
• The fee structure for additional shareholders differs between Statrys and Sleek. Statrys includes services for up to 5 shareholders at no cost, with a flat fee of HKD 1,000 for each additional shareholder. In contrast, Sleek's package covers only one shareholder and charges a tiered rate of HKD 400 to HKD 600 per additional shareholder, potentially leading to higher costs depending on the number added.

After successfully incorporating your company in Hong Kong, the next essential step is to open a business account to manage transactions like receiving payments and making business-related payments. 

While Statrys offers its own business account services, Sleek refers users to another provider for business accounts. Here's a comparison between the two:

Statrys offers a business account on the same platform, so you don't have to go through a third-party provider. This means that as soon as you register a company with Statrys, the team can help you open a business account (subject to approval), which includes a payment card (subject to approval), dedicated account managers, and competitive FX rates. 

On the other hand, Sleek does not provide its own business account and card services on the platform. Instead, they've teamed up with Airwallex and will help you apply for an Airwallex business account (subject to approval). For more details on benefits and terms, please reach out to Sleek directly.

Both Statrys and Airwallex business accounts can be opened 100% online.

Once the company is established, there might be the need to change the company structure, sell shares, and so on. 

Statrys includes director changes at no extra cost, offering flexibility and potential savings. However, costs for share allotment and transfer are quoted individually, requiring more time for detailed inquiry compared to Sleek's bundled service.

Sleek offers a premium service covering director and shareholder changes for an additional HKD 2,500. This provides a clear, predictable cost structure but requires an upgrade, making it more costly upfront.

Overall, both providers offer comprehensive customer support options. However, Statrys distinguishes itself with additional communication channels and a dedicated account manager. Entrepreneurs handling business in China may also find WeChat more convenient to use because of its dominant presence in the country.

On the other hand, Sleek offers support through various channels but with fewer options, and there is no specific information regarding support from a dedicated account manager. Therefore, if personalised support and extensive communication channels are important to you, Statrys might be the preferable choice.