The liability of the proprietor or partner of an unlimited corporation has no upper limit. The proprietor or partner bears the business risk, and the company's debts are also entirely carried by the proprietor or partner; the creditor has the authority to petition to the court to have the proprietor or partner's property sealed and sold in his or her own name. As a result, before beginning a firm, entrepreneurs should carefully examine whether to manage their business through a limited liability company or an unlimited liability company.

Precautions:
According to the Business Registration Ordinance, applicants for registration of unlimited companies must be holders of "Hong Kong Resident Identity Cards" or "Hong Kong Permanent Resident Identity Cards". If the applicant holds a "Hong Kong Resident Identity Card", the relevant entry visa or entry sticker is required. If the visa or label has stated that its identity "is not allowed to start or participate in any business", it will not be able to open an unlimited company. If you are a mainland resident, you only need to appoint a Hong Kong resident as an agent.
