Formation of Hong Kong Limited Company
By Webb Ward
Posted: 21st January 2014 08:50
Why Hong Kong?
Hong Kong, it is a reputed, business friendly, no capital gain taxes, no withholding taxes, low tax jurisdiction without sales taxes and no tax on profits made by doing business activities internationally. Thus, Hong Kong is considered as the best and logical choice for running international businesses.
There is wide variety of company information to select from. Business Registration Certificate offered by Inland Revenue is mandatory for sole proprietors and Rep Offices. Ten working days are allowed for those that need services from Company Registration Department.
If you decide to enter in Hong Kong then professional advices from lawyer, accountant or solicitor in your country is mandatory and also consider the border inference of your business. Also, it is better to talk to the professionals in Hong Kong to get balance view before proceeding.
There are two different ways to form a limited company in Hong Kong: First is by buying a ready-made company and the other us by setting up a new company.
- For new company, you must specify preferred company name but time taken for Hong Kong company registration(http://www.financial-guardian.com/Company/hong-kong-company-2/)is more
- For ready-made company, selecting company name is mandatory for the given list including never-used shelf company names and the processing time is less here.
It comes in the blue certificate form, given by Inland Revenue and is annually renewed. You can get three year certificate after the written request at least one month advance from the expiration of current registration and vice versa. The renewal notice is sent to the registered address of the companies. If you have certificate then it should be displayed in office in prompt position with public liability insurance certificate.
- Company name search
- Incorporation certificate
- Registration license for business
- 1 copy of memorandum and Articles of Association (M & A) in Chinese
- 20 copies of memorandum and Articles of Association (M & A) in English
- Company chop, common seal and authorized signature
- Green Box with printed company name
- Bank account arrangement services in Hong Kong
- 5 true certified copies of company documents to open bank account
- Prepare board minute to open bank account
- PayPal account opening arrangement services
- One Director
- One Shareholder
- One Company Secretary
- New Company Setup – approximately 10 working days after signing confirmation
- Ready-Made Company - approximately 2 working days after signing confirmation
Representative office is launched by a foreign company take on in business relationship in the country selected. However, it is not permitted for office to involve directly in your business operational activities. Generally, representative office is launched before integration of limited company, first step is to enter markets locally and analyze Hong Kong’s business environment.
Registration of Hong Kong Unlimited Company
Any nation is eligible to form an unlimited company in Hong Kong. This entry will be perfect choice for all the start up businesses because the maintenance cost is low here.