Introduction
Hong Kong is a country that is very opportunistic for entrepreneurs to set up their startups, new businesses or subsidiaries. It's because Hong Kong as a country is a metropolitan, high-spirited spirited, and it has the world’s freest economy, held by Heritage Foundation for 24 consecutive years.
Hong Kong has to offer unlimited business opportunities in every field. Numerous International Businesses benefit from Hong Kong.
Company Registration in Hong Kong
The incorporation process in Hong Kong is a service provided by many local and international agencies. It is a very simple yet interesting step to Incorporate a Company in Hong Kong.
Chapter 662 of ‘Companies Ordinance’ enforces and Administers Companies. It is also responsible for the incorporation of Local Companies (companies that are based in Hong Kong) and Non-Local Companies (Companies that are incorporated in foreign but have subsidiaries in Hong Kong) to comply with the Laws and Administration of Hong Kong. Hong Kong does not hold any percentage,e which allows foreign Entrepreneurs to hold 100% ownership of their company.
For Private Limited Companies, the country provides a very open environment to set up, with up to 50 individuals.
And at least one Director and Shareholder to start a corporation in Hong Kong. The Directors do not have to be the resident of the country. It offers a very moderate share capital, which could be a minimum of up to 1 HKD.
Requirement for Company Registration in Hong Kong
To register a company in Hong Kong, one needs to have a few points clear regarding the company.
The name of the Company for Registration should be unique.
Structure of the Company, number of Board of Directors.
Shareholder’s consent should be in writing.
Company Secretary.
Director’s ID or Passport and copy of Residential Address.
AOA (Article of Association) is required.
At least one natural person as Director.
Incorporation Form
Notice to Business Registration Office.
Company’s registered Address.
Payment of Application fee for Incorporation.
Types of Company Registration in Hong Kong
Four types of Companies can be registered in Hong Kong.
Limited Liability Company: Prevent individuals from being liable on behalf of the Company’s financial loss.
Sole Proprietorship: A company which is run by a single individual and can hire employees however, a sole proprietorship will be liable for the Company’s loss or debt.
Partnership: Formed by two or more partners, all the partners are the agents hence, all the partners will be liable for the Company’s loss pr Debt.
Incorporation: Concerning Companies Ordinance chapter 622, One or more than one person can together form an Incorporated Company with or without limited liability.
Legally, Incorporation is a separate legal entity. The Business operators are not liable for its loss.
Fee Structure for Company Registration in Hong Kong
The Government fee for company registration in Hong Kong is HKD 1,720
Whereas incorporating a company may cost up to HKD 9,053.
Documents Required for Company Registration in Hong Kong
The following documents are required to Incorporate a company in Hong Kong.
A copy of AOA (Articles of Association).
Incorporation Form, which must contain the following information:
Company’s Name
Company’s registered Address
Liable members
Share capital mentioned on Incorporation
Number of shares distributed among the shareholders
Company’s Work
Details of Director, Shareholder, and Company’s Secretary
Registration Process of Company Registration in Hong Kong
For the process of Registration of a Company in Hong Kong, all company must register their business with the Companies Registry, which is responsible for incorporating the Company.
The Documents of the company can be sent to the Companies Registry via e-Registry or CR eFiling; they can also be submitted as hard copies.
Every Business must be registered every year.
Steps to Register Company in Hong Kong:
The Incorporation form contains the following details:
Proposed company names
Principal Business Activities
Director/Shareholder’s details
Corporate Shareholder’s details (if applicable)
Intended Share Capital
Company Address
Email the agency the documents/attachments (as required under the companies’ registry Hong Kong’s guidelines)
Other Declaration
Chief Executive Officer (CEO) or equivalent Position
Contact Information
Submit
Step 3. Complete the Diligence review, and the agency will issue an invoice for the payment
Step 4. Once the payment is received by the agency, it will prepare all the documents and send them for signature.
Step 5. The Agency will then go through all the signed documents and scan them for checking.
Step 6. The Agency will call the directors and the shareholders for the basic verification.
Step 7. Once all the information is verified, the agency will submit the Incorporation documents to CR.
Step 8. Once the company is set up, the agency will email all the relevant company documents (i.e., Certification of Incorporation, Article of Association and any other relevant Documents.)
Note: The Company can generally be incorporated within 3-5 working days after the submission of all the Documents but subject to the company’s registry approval.
Why eStartIndia for Company Registration in Hong Kong?
eStartIndia is India’s leading Legal and Business platform, which provides service to clients in all Legal and Business matters. eStarIndia deals and helps in matters of Legal Documentation, Loans, Trademark & Copyright, Tax Filin,g and to start a Business.
To Register a Company in Hong Kong, the Firm will provide all the Legal Services like Incorporation Procedure, fee structure, and benefits to the Company in Hong Kong, a basic and strong Legal backups for mishaps. The Company needs all the basic and important documents of the Incorporation and needs all the information in detail of members such as Partners, Shareholders, and Directors. eStartIndia will guide the Company through the process of registration, and all the details will be thoroughly checked before proceeding through the Process of Registration of the Company by the Firm and its experts.
eStartIndia has all the knowledge of filing the documents by following the rules and regulations of the Off Shore Local Jurisdiction. The Business and Legal experts in the firm will help with the preparation and review filing. The Drafting and Filing of the articles of incorporation plus the Business license,se which is the most crucial procedure in Hong Kong, will be handled by the firm and its experts. The firm also provides post-registration services.
