Top Tips – Legal Aspects of Selling Your Business in Hong Kong

Top Tips – Legal Aspects of Selling Your Business in Hong Kong

Selling a business can be a complex and challenging process, especially when it comes to navigating the legal aspects involved. If you are considering selling your business in Hong Kong, it is crucial to be well-prepared and informed about the legal considerations to ensure a smooth and successful transaction.

Here are some top tips to help you navigate the legal aspects of selling your business in Hong Kong:

1. Create and Update Your Company Story:
One of the first steps in selling your business is to create a compelling story about your company. This story should showcase your passion, highlight the greatness of your company, and outline the path forward. Regularly update your company story to reflect the latest developments and achievements, which will help attract potential buyers.

2. Avoid Desperation:
It’s best not to go about finding a buyer when you are desperate. Desperation may lead to making hasty decisions or accepting unfavorable terms. Take your time, plan ahead, and approach the sale process strategically.

3. Maintain a List of Potential Buyers:
Start making a list of potential targets who might be interested in acquiring your business. Continuously expand and update this list to ensure a wide range of potential buyers. This proactive approach will increase your chances of finding the right buyer for your business.

4. Organize Important Documents:
If you haven’t already done so, start organizing all the important contracts, agreements, and employment records related to your business. Gather these documents into one file for easy reference during the sale process. Well-organized documentation will streamline due diligence and contribute to a smoother transaction.

5. Seek Professional Help for Valuation:
Determining the value of your business is a complex task. To ensure an accurate valuation, it is advisable to seek professional assistance. Engage the services of a reputable business valuation expert who can provide valuable insights and help you arrive at a fair and realistic asking price.

6. Research Industry Ratios:
Familiarize yourself with the financial ratios commonly used in your industry. Incorporating these ratios into your daily business operations can demonstrate financial stability and growth potential to potential buyers. Understanding industry benchmarks will also help you justify your asking price during negotiations.

7. Consider Tax Implications:
When selling your business in Hong Kong, consider the tax implications, especially if you are dealing with buyers from other countries. Consult with a tax professional to understand the tax obligations and potential savings associated with the sale. This will help you make informed decisions and optimize the financial outcomes of the transaction.

8. Explore Different Sale Options:
Remember that selling the entire company is not the only option. You can consider selling specific assets, intellectual property, or even exploring mergers with other businesses to expand your market presence. Be open to alternative sale structures that align with your goals and maximize the value of your business.

9. Seek Legal Guidance:
Engage the services of a qualified lawyer who specializes in business transactions to assist you in drafting the term sheet and negotiating the sale agreement. Do not sign agreements with agents or brokers until you fully understand the details and have a clear exit strategy in case the deal falls through.

10. Leverage Your Network:
Inform your professional network that you are exploring opportunities to grow your business or find potential partners. This can lead to valuable discussions and connections that may ultimately result in finding a suitable buyer for your business.

11. Be Persistent and Resilient:
Selling a business can be a time-consuming and emotionally challenging process. Be prepared to invest time and effort in conducting thorough research on potential buyers and negotiating favorable terms. Maintain a resilient mindset and seek support from trusted advisors to help you navigate any hurdles along the way.

12. Learn from the Experience:
Even if you successfully sell your business, remember that it’s not the end. The knowledge and experience gained from the selling process can be invaluable for future endeavors. Consider starting another business and utilize the insights gained to achieve even greater success.

13. Emphasize Profitability, Growth Potential, and Brand Trust:
Prospective buyers will be interested in a business that demonstrates profitability, growth potential, and a trusted brand. Ensure that your business decisions align with these factors by focusing on financial stability, innovation, and maintaining a strong brand reputation.

In conclusion, selling your business in Hong Kong requires careful attention to the legal aspects involved. By following these top tips and being proactive in your approach, you can increase your chances of a successful sale. Seek professional assistance, stay organized, and leverage your network to attract potential buyers. Remember to focus on profitability, growth potential, and brand trust to make your business an attractive investment.

WEN Spotlight: Neelam Daswani

WEN Spotlight: Neelam Daswani

WEN would like to applaud Members who have had great wins, overcome obstacles, used innovative approaches or made other strides as an entrepreneur and who are ready to share their tips with you!

We are delighted to showcase our WEN premium member Neelam Daswani, Integrative Nutrition Health Coach and Founder of Neelam Pure Health 

Business Nature: 

Neelam Daswani is an Integrative Nutrition Health Coach and a graduate from the Institute of Integrative Nutrition. She specialises in guiding clients to implement dietary and lifestyle practices that address the root cause of imbalances and disease, helping them to heal their bodies and optimize their overall wellness. She provides one to one coaching sessions, working alongside the Functional Medicine Practitioner, to guide individuals with their health plans. She works to help them not only balance healthy eating habits and exercise, but she takes a holistic approach on health, such as stress management and sleep optimisation.

Business Start Date:

January 2020

Tell us what made you take the entrepreneurial plunge?

I am a Japan-born Indian living in Hong Kong and the founder of a successful boutique PR agency, Purebuzz.

The protests and COVID were challenging as PR was brought to a halt.

Over COVID, my dad ended up in ICU post-bypass surgery and I found myself embracing a more holistic approach during his recovery. This difficult time also motivated me to return to school and I became a certified Health Coach through the Integrated Institute of Nutrition (NYC). I have always been very passionate about health & nutrition and hence was able to welcome this new career! I love, love working with people and making positive changes in their well being and life, it’s a huge sense of an accomplishment seeing clients and patients change for the better!

What does your Company do and how is it unique?

Health is BIO INDIVIDUAL, My services are all personalised. I work with client on their individual needs and health cannot be a cookie cutter solution. What works for a women in menopause is not the same as what works for a 30 year old.

Over the coaching, I review one’s food and health history and share valuable insights into progressing towards one’s health goals, including current food intake and lifestyle. I suggest some areas to focus and prioritise to be your best self in order to maximise your energy, improve your sleep and overall health.

Areas covered are:

  • Adequate protein intake
  • Understanding hidden sugars
  • The inclusion and importance of healthy fats
  • Review of supplements
  • Quality of sleep

How do you transform a challenge into an opportunity?

After PR came to a halt over the protests and COVID, I decided to take a break, dig deeper and understand my ‘IKIGAI’

This is a Japanese concept referring to something that gives a person a sense of purpose, a reason for living. I am very happy as I’ve totally found my ikigai. My clients and friends see how passionate I am about my coaching…and I feel like I have truly found my ‘ikigai’!

Where do you see your company in the next 3 years?

I hope to work with corporate wellness programs and possibly start some group coaching to branch out beyond just the 1 on 1. I have also just completed a degree in HORMONE HEALTH, I plan to continue educating myself in the FUNCTIONAL space. 

What are your top tips to share with other women entrepreneurs?

 – Magnesium Nightly 

Even though Magnesium is the fourth most abundant mineral in your  body, you might not have enough! Magnesium, for men & women alike, is vital for over 300 biochemical bodily functions ranging from

  • Regulating mood
  • Hormone health
  • Supporting sleep
  • Muscle recovery and nerve function
  • Stress & cortisol levels
  • Energy production
  • Constipation & Cramping

–  Protein rich breakfast – Go savory for breakfast 

Eating healthy is an important part of a healthy lifestyle. I encourage  everyone to start their day off with a high protein breakfast with a source  of fat. A savory high protein breakfast will curb all sugar cravings one may  have during the day, as it helps balance sugar levels. In general once  needs anywhere between 1-1.5 grams of protein for every kilo of body  weight, hence planning meals around protein is key. Make sure to eat  from the trifecta, FAT, FIBER & PROTEIN for all 3 meals. Starting your  day of with cereal, bread and oatmeal is a big no no , as you will end up  craving more sugar throughout the day!!

–  Daily Mindfulness

I aim to go for a GONG or Crystal Singing Healing Session once a week. Scientific evidence suggests that certain forms of sound therapy prompt damaged humans DNA strands to repair themselves ‍ Some tones may even promote vitality and healing. I also take 10 mins out of my day daily to meditate. I most prefer to do this at around 3-4pm in the middle of my day. Helps me reset, re-charge for my day ahead. The Latin root of the word “meditation” is the same as the root word for “medicine.” The simple yet profound practice of meditation allows us to experience inner contentment and balance, bringing healing and relief from the stress of daily life – a form of medicine.

One thing women should do more of?


Muscle is a powerful longevity organ, specially once you reach menopause.

Building our muscles through strength training is a very effective way to combat the side effects of perimenopause.

And unlike anything you’ve heard, strength training does not mean “bulking up” as we do not have the testosterone levels for it to happen easily! Instead, strength training will help you get lean and strong, and it has countless other benefits too!

Busting the “bulk up” myth for women, I can’t emphasize enough on how important it is for women over 40 to begin Strength Training!

Muscle is like a “power suit” that keeps your spine and joints upright and supported. As we get older and muscle declines, bone loss and occasional aches and pains become much more common, specially if you’re transitioning through #menopause. Hence why Resistance (or Strength) Training is one “super habit” that you should definitely follow that helps support you through this phase.

WEN Spotlight: Caroline Choi

WEN Spotlight: Caroline Choi

WEN would like to applaud Members who have had great wins, overcome obstacles, used innovative approaches or made other strides as an entrepreneur and who are ready to share their tips with you!

We are delighted to showcase Caroline Choi, Founder of

Business Nature: Free Online Educational Resource for Individuals Navigating Through Divorce in Hong Kong

Business Start Date: September 2019

Tell us what made you take the entrepreneurial plunge?

Prior to living in Hong Kong, I was working as a Family Law attorney in San Diego, California. At the time, I saw a need to provide easy digestible legal information to individuals going through divorce because it can be extremely complicated to understand legal jargon. I started to write articles for The Huffington Post about divorce topics and also created my own blog website called Divorce Confidential. When I moved to Hong Kong, I saw a need for this as well and started Hong Kong Divorce in the hope that every individual has access to information that may be difficult to obtain without hiring costly solicitors and barristers.

What does your Company do and how is it unique?

Hong Kong Divorce does not provide legal advice, however it does provide individuals with basic information on how to navigate divorce in Hong Kong, giving individuals the knowledge and power on how to proceed forward. Not only does this free resource provide simple explanations on somewhat complex legal issues, but it also aims to provide practical tips on how to navigate even the emotional aspects of divorce. For example, I have created a special series called Spotlight Profile and in these Spotlight Profiles, I interview key players in the family law community in Hong Kong but I also interview mental health professionals who have extensive experience in assisting families and children through the hardship of divorce. These mental health professionals provide great tips and resources on how to navigate this difficult journey. Thus, Hong Kong Divorce not only provides basic information about divorce in Hong Kong but also how to survive and move forward on an emotional level as well.

How do you transform a challenge into an opportunity?

Divorce is a challenging experience and journey for individuals and families. It is not easy balancing being an attorney while also writing and publishing articles and essentially running a second business. However, I think this is extremely important and there is a need to provide this information to those in the community. For those going through a divorce, the more information you have, the more informed you are and therefore able to navigate an already complex legal system.

Where do you see your company in the next 3 years?

My hope is that Hong Kong Divorce becomes more widely known in the community and it an essential pitstop for those going through divorce.

What are your top tips to share with other women entrepreneurs?

  • Rise to the challenge – You will always be met with challenges and obstacles along the way, but it is important to rise to the challenge and move forward.
  • Be Resilient – Remain resilient throughout the process and continue to push through when things are not as smooth or easy as anticipated.
  • Make great connections – Having great friends and contacts who can be there to help you along the way is key to success. It’s wonderful when you can share in your successes with others and vice versa.

One thing women should do more of?

Support one another and cheer each other on. Rather than see each other as threats, it’s important to come together as women and help each other out. There is enough room for success for everyone!
WEN Spotlight: Jessie Chan

WEN Spotlight: Jessie Chan

WEN would like to applaud Members who have had great wins, overcome obstacles, used innovative approaches or made other strides as an entrepreneur and who are ready to share their tips with you!

We are delighted to showcase Jessie Chan, Founder of Sorra Limited.

Business Nature: Beauty Tech/Fem Tech Start Up

Business Start Date: 2020

How is your company unique?

Sorra is a beauty tech start-up that is changing the way people shop for skincare. Our platform is a “Tinder for Beauty”, which accurately matches users with brands, providing an advanced personalized beauty experience that is brand-neutral, free of charge, and backed by skin data.

We are proud to be the first beauty platform targeting sub-tropical climate area markets, and since our launch in 2020, we have quickly grown our community to over 140K members with nearly zero cost per acquisition and an impressive average monthly reach of 6.5M. Despite being a bootstrapped start-up, we have achieved a remarkable 19% month-over-month revenue growth rate, which is a testament to our unique value proposition and the innovative approach of our team.

How do you transform a challenge into an opportunity?

During the COVID-19 pandemic, I was struggling with blemishes on my face. Despite purchasing many skincare products, I couldn’t find anything that would help me get rid of them. This was a challenge for me, but I decided to turn it into an opportunity.

I began to learn about skincare science and how skincare formulations work. I researched different ingredients and products and started to experiment with different formulations. I also began to share my journey with others and started a community around skincare.

At first, I still had a day job and was the only one doing all the jobs, from researching and creating content to designing the platform. But while the community grew, it became a really healthy and engaging space for sharing product reviews and advice – this is where I decided to quit my day job and turned this passion into my career.

Through this community, we were able to develop a unique understanding of what our customers were looking for in skincare products. This allowed us to create our own brand, Sorra, which has become a major player in the beauty industry.

Transforming my skincare challenge into an opportunity has been an incredible journey, and I’m excited to see what the future holds for Sorra.

Where do you see your company in the next 3 years?

I see Sorra as a disruptive solution for both brands and consumers. Our innovative “Tinder for Beauty” platform provides accurate leads for brands based on an accurate skin profile, while consumers can finally find the right solution for their skin by searching with skin data.

In the next three years, our goal is to bring this solution to more people, not only in Hong Kong and Taiwan (where we are currently based), but also to the larger Southeast Asian market. We believe that our unique value proposition and focus on sub-tropical climate area markets will resonate with consumers in these regions.

We plan to expand our community  with a greater focus on engagement and user-generated content. We also plan to strengthen our platform technology, based on the insights we have gained from our community and our expertise in skincare science.

Overall, our vision is to make beauty accurate and become the go-to platform for skincare in the region, providing a unique and personalized beauty experience for both brands and consumers. We are excited about the future of Sorra and the potential impact we can have in the beauty industry.

What are your top tips to share with other women entrepreneurs?

  • Start small, think big: Starting small can help you focus on the most important aspects of your business and refine your vision. But it’s important to always keep your bigger picture in mind and continue to work towards achieving your long-term goals.
  • Embrace failure: Failure is a natural part of the entrepreneurial journey, and it’s important to learn from these experiences. By analyzing what went wrong and making changes, you can turn failure into an opportunity for growth and improvement.
  • Stay true to yourself: When pursuing your career goals, it’s important to stay grounded and not lose sight of your deepest needs and values. Whether it’s taking time for self-care or maintaining a healthy work-life balance, make sure to prioritize your well-being and happiness while pursuing your entrepreneurial dreams. 

One thing women should do more of?

As a female entrepreneur and mother with a one-year-old baby, I understand firsthand the challenges of balancing work, life, and family. It’s easy to get caught up in the demands of building a startup and feel like we have to sacrifice our personal lives to achieve success. However, I’ve learned that it’s important to trust myself and my abilities, and to find a support system that enables me to pursue my passions while also being present for my family.
For me, this has meant learning to prioritize my time and energy, setting realistic goals, and being kind to myself when things don’t go as planned. It’s also meant finding a community of other women who can relate to my experiences and provide support and encouragement. As women, we have a unique superpower to balance work, life, and family. We should all build more trust in ourselves to pursue the things that matter most to us.
WEN featured on RTHK Radio 3

WEN featured on RTHK Radio 3

WEN was featured on the 123 Show on RTHK Radio 3 on 8th Dec 2021.
Geetanjali Dhar(chairwoman) and Sharlene Jacquier (board member) spoke at length about WEN and how they offer Women Entrepreneurs at all stages of their business – great support, guidance and expertise from professionals.
Check out their interview with Saadia Usmani here.