How to register company in Hong Kong?
Think of doing business in Hong Kong? Want to edge closer to getting access to the huge market that is Mainland China, and enjoy financial services that have won praise globally? What you need is a limited liability company. Even with these benefits, many people still keep wondering how to register a company in Hong Kong?
In this guide, you have a comprehensive guide on how to register a company in Hong Kong.
Pros of opening and running a company in Hong Kong
- Hong Kong together with Singapore is classified among the most liberal economies globally.
- The tax system in Hong Kong is very straight forward. If you generate any profit in Hong Kong, you will pay 16% and 0% if the profit is generated from selling products away (for example, exporting electronics to other countries).
- To register a company, you only require a subtle amount compared to what other countries require.
- The process of opening a bank account is simplified and straightforward to help your company start operating as fast as possible. With two weeks, the company will be fully incorporated to operate.
- With a company in Hong Kong, you can run it without having to live or even travel there. All that is required is a physical address and a secretary. An agency can even set the physical address and ensure the company runs appropriately for a full year.
- Hong Kong is considered by business people to be the ideal gateway to mainland China that presents your business with a huge market and opportunity to export manufactured products especially electronics.
Opening a limited liability company in Hong Kong without setting foot there
A decade ago, people who wanted to open Sole Trader Companies were allowed to do so without a resident permit. This has now been restricted to Limited Liability companies. You can fly to Hong Kong to open a company, but remember that you will require a secretary and an office.
However, you can still open and run the company without having to go to Hong Kong. Agencies have established themselves to assist you to get the secretary services and office address. The Agencies can even use their offices because Hong Kong allows an office to be shared by different companies.
Documents required for opening a business in Hong Kong
Once you have identified a good agency, agreed that you want to open a company, and paid the requisite fees, the next thing will be selecting a name. The agency will search for the name to ensure that no other company or entity is registered in the same name.
Armed with a name for your company, you will send the necessary documents including passport, proof of residence documents (example, utility bills or driving license), a full questionnaire that includes details such as personal address, passport number, names of directors as well as shareholders to the agency.
A simple company structure is in most cases adequate unless you want a special company. The agency you have selected sets up an e-registration entry in an hour or two and you will get Business Registration Certificate and Certificate of Incorporation after your documents have been verified.
If the company you want to establish is bigger or has layers of operations, the agency will send you some pre-signed documents so that the director and shareholders can sign. The original documents must be returned through an international courier. It will take approximately 5 working days to complete and have the company registered.
If you have been wondering about how to register a company in Hong Kong, the easiest way is using an agency. It provides you with address and secretary services depending on the nature of your business. Check the best agency now and start the process of getting your own company in Hong Kong.