Creating a company in Hong Kong: complete guide, steps and conditions
Although Hong Kong has faced difficulties with the Covid-19 pandemic, as well as increased competition from more flexible and business-friendly jurisdictions (such as Singapore or Dubai for example), Hong Kong remains the most coveted city in 2022 because of its tax incentives for startups. Indeed, thanks to the speed and pro-business attitude of the Hong Kong administration, it is the most efficient city to open a company in a short time.
But what are the steps and conditions to qualify? We will shed some light on this in this article.
What are the basic requirements to open a company in Hong Kong?
If you plan to open a company registered in Hong Kong, there are 4 basic requirements
- The first and most important condition, the name chosen for the company must be available and the company name in English must contain the word “Limited”;
- The company must have at least one shareholder and one director, regardless of nationality;
- The law in Hong Kong requires every company to have a company secretary, which is the equivalent of a local registered company secretary. The company secretary’s role is simply to represent you before the Hong Kong authorities. More information here;
- Finally, it is imperative for a company to have a registered office address in Hong Kong.
Generally, an application for business registration must be made within one month of commencing business. The application must be made on the prescribed form and accompanied by the required supporting documents and full payment of the appropriate business registration fees and levies. A visit to Hong Kong to register a Hong Kong company is not necessary and the entire process can be done remotely. Our firm will assist you and take care of all the steps involved in setting up a company.
What are the steps and how to create a company in Hong Kong?
The first step is to determine the type of company you wish to register. Generally in Hong Kong only one structure is often used and is a very popular choice of international companies and that is the limited liability company, also known as LTD.
The process of setting up a company in Hong Kong is relatively simple and quick. There are a number of steps that must be followed:
- Contact our firm and place an order to register a Hong Kong company ;
- Decide on the name of your company in Hong Kong and ensure that it is not already in use ;
- Conduct a name availability search. The name must be original – not used by any other company in Hong Kong nor has it been used before ;
- Preparation of administrative documents, such as articles of association, resolutions, etc ;
- Send copies of identity documents of a director and shareholder, if the registration of the Hong Kong company is done remotely without going to the Companies Registry ;
- Provide documents to the Registrar of Companies ;
- Paying government fees and company registration fees ;
- Registering with the Inland Revenue Department for tax purposes ;
- Certify or apostille documents.
A company registration form must also be completed with various information such as the name of the company you have chosen, the registered office of the company, a clear description of the main activities of your company with details of the shareholders, directors and company secretary (passports required for non-Hong Kong shareholders and directors whereas copies of identity documents are required for locals).
If you do not wish to take care of all these formalities, our firm will take care of them for you.
As Company Secretary, we are specialists in the creation and follow-up of companies in Hong Kong since 1998!
Our firm takes care of the administrative procedures for the creation of a company in Hong Kong and represents you before the authorities thanks to its role of company secretary. For more information: firstname.lastname@example.org