Hong Kong is not a one-size-fits-all jurisdiction if we talk about a good place for company incorporation. However, it may be exactly what you need for your undertaking. A bustling and rapidly developing business center has all you need for transnational corporations and small businesses alike: benign taxation, a robust banking sector, excellent infrastructure, and pro-business laws. Besides, this is the gate to China and the whole of Asia, which may be an asset for some entrepreneurs.
We would like to invite you to our portal with its excellent knowledge base of articles where you can read more details on Hong Kong business setup and many other aspects of international business, banking, tax optimization, company re-domiciliation, and much more. Our experts keep track of all the latest goings-on and write articles to inform entrepreneurs about them and make timely well-informed decisions.
You can also book a session with our expert to get some free or paid services. For example, if you cannot make up your mind on some issue, like choosing a suitable country to register your business, a bank that would comply with your requirements or an investment opportunity, we will help you make a well-informed decision for free. However, if you want us to register a company or create a bank account for you with minimum effort on your part, we will do so for a reasonable fee. Get in touch with us and solve your problems in no time!
Why Opt for Hong Kong?
There are certain misconceptions about company registration in Hong Kong as many people believe that the procedure is too complicated. This is not true, and you will easily overcome any barriers with our help. Hong Kong is worth dealing with, and here are the main reasons why:
- It has a favorable location between the East and the West.
- Hong Kong is a place where doing business is really easy.
- If you are targeting Chinese markets, a company in Hong Kong is exactly what you need.
- Business thrives in stable conditions, and Hong Kong authorities take care to make it economically, politically, and financially stable.
- If your company is incorporated in Hong Kong, it will be easier for you to open a business account with a Hong Kong bank (otherwise, it may take a lot of effort).
- Tax legislation is well-thought-out, and you will benefit from it if you work in the territory of Hong Kong or beyond.
- The city-state put a lot of effort into its infrastructure, and you can now enjoy the fruits of its labor.
- The local laws have long been polished to serve as reliable protection for your business and stimulate its development.
- If you want to get a Hong Kong company without leaving the comfort of your home, it is possible: we can register a legal entity for you remotely!
- Do you need local employees? You will have a wide choice as there are a lot of qualified specialists in Hong Kong.
- There are no restrictions for non-residents: they can own and control 100% of their company.
- The company registration process does not take long (on the condition that you rely on a competent agent. If you venture on your own, you will hardly succeed).
- There is no currency control in Hong Kong.
- You can invest your funds in the local economy and business without any limitations.
Sounds interesting? Don’t miss a chance to get in touch with our experts if you need any clarifications – simply follow the above link!
Requirements for Business Registration in Hong Kong
The most popular form of business in Hong Kong is a Limited Liability Company, and it can be registered within 2 weeks. And if you need to set up a corporate account for it with a local bank, it will take longer (but no more than 6 weeks).
Here are the basics about company setup in Hong Kong:
- You will need to register a unique company name before you proceed to company incorporation. (Make sure it resonates with your target audience and stays relevant as your business evolves).
- You will need to keep a Significant Controllers Register.
- A designated representative is a mandatory position in your company: this is a person who is in charge of keeping and controlling your reports.
- Your company will need at least one director that has to be an individual. The maximum number is not limited. The person appointed to the director’s position should be at least 18 years of age and have no history of bankruptcies or convictions. The identity of directors is publicly available in Hong Kong – so if you need to keep incognito, you can use the services of a local professional (nominee) director.
- The number of shareholders may range from 1 to 50 people, and they can be individuals or legal entities that are residents of any country. A director can combine this position with the status of a shareholder. The company in Hong Kong can be fully owned by foreigners. You can use professional (nominee) shareholders if you want.
- A Hong Kong company is required to have a secretary. It can be an individual or a legal entity. The former must be a resident of Hong Kong, while the latter must have an office in the city-state.
- There are no limits to the company’s share capital: the only requirement is to have one shareholder with one common share (bearer shares are not allowed). However, the common amount is usually HKD 10,000.
- A Hong Kong company is required to have a local physical address (no post box solutions are allowed).
- The corporate tax rate in Hong Kong is 16.5%. The city-state uses a territorial principle of taxation: if you generate 100% of your profits outside Hong Kong, you will not be liable for income and other taxes.
- A company set up in Hong Kong is required to keep accounting reports and have them audited, and also submit annual reports and tax returns to relevant services on a regular basis.
- You will need to have a Company Registration Certificate and renew it at least one month before it expires.
Does Hong Kong sound like a jurisdiction for you? Follow the link above if you have any questions or doubts and share them with our experts. We will help you make your first steps in serious international business without much hassle!