The most common sort of set up company in Hong Kong is that of a private indebtedness company. The rationale this type of corporation is popular is because indebtedness companies have an everlasting structure, a strong public perception, indebtedness for its owners, and a separate legal personality for any matter. Also, the wants and facts for Hong Kong Companies are very simple.
Other than this, the raising of capital and transfer of ownership is more straightforward and more accessible as compared to the opposite business structures just like the sole partnership or the only proprietorship. For foreign business professionals, this type of firm is mentioned as a world company located in Hong Kong.
As per the business’s Ordinance of Hong Kong, a person who is above the age of 18 can open a corporation in Hong Kong where the entire process would be under the governance of the businesses Ordinance (CO). Here you’ll get all the small print of registering a personal indebtedness company in Hong Kong just like the required documents for Hong Kong companies and lots of others.
To set up company in Hong Kong, you’ll get to register your business with the business’s Registry. the business’s Registry is liable for the incorporation of your company.
Most entrepreneurs prefer to register and incorporate their companies as a Ltd. in Hong Kong due to the various advantages related to it. Limited companies are separate legal entities and offer protection of private assets from business risks. Moreover, compared to other business entities the method for transferring ownership and raising funds or capital for limited companies is more straightforward.
Incorporate your business entity
The process of opening a corporation in Hong Kong is comparatively straightforward, but you’ve got to submit these forms before incorporating your company.
- A copy of the directors’ and shareholders’ identification documents
- Proof of address
- Signed Incorporation form by the authorizing partners.
- To incorporate and register your company, you would like to pay the applicable fee alongside the above documents. you’ll submit the shape online through Hong Kong’s 24-hour Companies E-registry otherwise you can submit a hardcopy at the govt department at Queensway.
But what does one do after incorporating your Hong Kong business? The subsequent step is to urge your company up and running.
Open a corporation account
The most pertinent thing you’ve got to try to do is to gain access to financial services so as to start out funding your ventures. The method for opening a private checking account is sort of straightforward. However, you’ll get to prepare more paperwork and documents to point out to the bank as a business owner. Company secretary service in Hong Kong can help you finish the task below.
Most of Hong Kong’s banks require the registered address of the corporate. They also require the contact information of the corporate and its business owners.
All documents required and laid out in the bank’s form including certification by either a corporation secretary, public accountant, banker, or lawyer.
The incorporation documents of the corporate
A certified true copy of the company’s identification documents.
Proof of business like audited financial statements or business plan.
Details of ultimate beneficial owners for nominee shareholders/stockholders of a corporation.
A certified true copy of the company’s Business Registration Certificate.
Overall, regardless of whether you’re a foreigner or an area entrepreneur, it’s strongly advised to interact with the services of knowledgeable corporations that are well-versed with the local legislation governing companies and even have enough experience in handling ongoing compliance and regulatory requirements.
At Startupr, you’ll enjoy company secretary service in Hong Kong that has the use of their Hong Kong office address as your registered address, the filing of your company’s income tax return, company secretarial services, and tons more.