Conpak Gains Dual Recognition from The HKSAR Government and HKICPA as a Trusted Partner for Mainland Enterprises Going Global
Conpak is proud to announce its official appointment to the Hong Kong SAR Government's Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force) and its inclusion in the Hong Kong Institute of Certified Public Accountants' (HKICPA) "List of Accounting Firms Helping Mainland Enterprises Go Global". This dual recognition positions Conpak as a trusted strategic partner, uniquely equipped to deliver highly tailored, end-to-end global expansion solutions for Mainland enterprises.
As Mainland enterprises increasingly look overseas to enhance their international competitiveness, "going global" has become a strategic imperative. Hong Kong, leveraging its unique advantages under "One Country, Two Systems", continues to serve as a pivotal "super connector". Conpak, drawing on deep expertise in international taxation and business consulting, is honoured to support this national priority. Our recent appointment to the HKSAR Government's GoGlobal Task Force, and admission to the HKICPA's "List of Accounting Firms Helping Mainland Enterprises Go Global", underscore the strength of our professional capabilities. As a testament to this expertise, Conpak was invited by the HKICPA to share a landmark case study on its official website, highlighting our step-by-step support for a leading Mainland enterprise.
Official Recognition: Integrating Expertise into National Development
In alignment with the nation's priority of fostering "New Quality Productive Forces" and "High-Quality Development", the HKSAR Government has established the GoGlobal Task Force. This initiative assembles leading professional firms to provide one-stop support for Mainland enterprises planning international expansion.
Conpak firmly believes that Hong Kong's professional services are an indispensable strategic resource in this journey. Our appointment as a member of the task force reflects a strong endorsement of our professional credibility and service excellence, signifying our market-leading position in facilitating cross-border business for Mainland enterprises.
Case Study: Driving Strategic Global Expansion and Tax Efficiency for a Leading Mainland Energy Conglomerate
Invited by the HKICPA, Conpak published a landmark case study illustrating our role in assisting a leading Mainland integrated energy group with its international expansion. To accelerate its global strategy, the group established a wholly-owned subsidiary in Hong Kong to serve as a core offshore investment and holding platform. Our team provided strategic guidance on navigating the Foreign-Sourced Income Exemption (FSIE) regime, ensuring a compliant and tax-efficient structure for their international operations.
To mitigate the risk of offshore passive income being taxed in Hong Kong, Conpak successfully assisted the group in establishing a robust operational foundation in Hong Kong that meets the stringent "economic substance" requirements (specified economic activities). The support included building a professional local team, physical office setup, and the implementation of procedural and internal control systems. Furthermore, Conpak led a successful "Advance Ruling" application, securing a favourable decision from the Hong Kong Inland Revenue Department (IRD). This ensures the group's future offshore passive income remains exempt from Hong Kong tax.
Beyond local compliance, Conpak assisted in obtaining a "Certificate of Resident Status" from the IRD. This enabled the group to benefit from preferential withholding tax rates under Hong Kong's Comprehensive Double Taxation Agreements / Arrangements (DTAs) signed with various jurisdictions. Notably, under the DTA with a specific Middle Eastern country, the withholding tax on interest income was reduced from 10% to 0%, achieving a full exemption and significantly enhancing the group's cross-border investment returns.
The full "going global" case study is published on the HKICPA website:
https://www.hkicpa.org.hk/en/About-us/Mainland-China-and-international-connections/Mainland-China/Chinese-enterprises-going-global/Story/Conpak-CPA
Partnering with Global Professionals for Sustained Success
As a member of Allinial Global, a prestigious international alliance, Conpak connects with over 44,000 professionals from 270 member firms across 112 countries. We leverage this extensive global network to strategically guide Mainland enterprises on their international journeys.
Looking ahead, Conpak will further strengthen its collaboration with the HKSAR Government, regulatory bodies, and industry partners. We are committed to providing professional, integrity-driven and efficient services, positioning ourselves as the premier partner for Mainland enterprises aiming for global success.
