Doing Business in Hong Kong
Hong Kong has maintained its position as part of the world’s most competitive economies with its open business environment for local and overseas enterprises. The International Institute for Management Development (IMD) World Competitive Yearbook 2020 ranked Hong Kong 5th out of 63 economies. Highlights of doing business in Hong Kong include:
- Enjoying the unrivaled access to the market of Mainland China through the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development
- Tapping into the new market while enjoying the free flow of capital, goods, and services by forging ties with Hong Kong
- Riding on the benefits of growing business in the premier business hub in Asia, including a highly transparent regime for financial services
- Leveraging on the tax-friendly system under the leading financial hub
- Acting as a preferred base for various companies to set up the regional headquarters and offices
Ranked the one of the freest economies around the globe, Hong Kong is an ideal place for businesses ranging from small and medium-sized enterprises to multinational companies to grow internationally. As you may be aware, one of the requirements for setting up a limited company in Hong Kong is having a company secretary.
How can CW help?
Our Corporate Secretarial Department offers corporate governance and secretarial services to different types of entities, including multinationals, Hong Kong incorporated companies, and offshore companies.
1. Business Formation
Our experts can advise on the type of entity and walk you through the journey of the business establishment so that you can expand your business in Hong Kong at ease and be better prepared for entering the market of Mainland China by using the Mainland and Hong Kong Closer Economic Partnership Arrangement (“CEPA”).
2. On-going Company Secretarial Services
As a trusted service provider, we provide efficient and reliable support to businesses in compliance with laws and regulations, including company secretary, designated representative, and registered office services – but it does not end here. Our experts have in-depth knowledge that can be your governance liaison on behalf of your company. Whether you require assistance in preparing prescribed forms or minutes, reviewing corporate documents, or advising on dissolving the company, we are ready to help you.
3. Bank Account Opening in Hong Kong
The bank account opening procedure can be complicated. Over the years, we have been working closely with HSBC, Standard Chartered Bank, and Citibank to provide business solutions for different types of entities. Whether you wish to set up online banking or bank account opening, we can assist you in the liaison work. In the wake of tightening of regulatory requirements, it has become relatively more difficult to open a bank account; therefore, it is advisable to be professionally guided through the bank account opening process.
4. Human Resources Support
To boost both productivity and commitment among the employees, you can offload some human resources processes to focus more on strategic management and business expansion.
Retaining employees is one of the key to grow a successful business. Overseas directors and managerial staff who seek to manage and oversee their business more closely require employment visa permits to work in Hong Kong. Our experts can assist your non-local staff in the application for employment visas to better manage your business in Hong Kong. By outsourcing part of your administrative formalities, your company can have more confidence in complying with the relevant regulations and provisions. Our HR process outsourcing services include:
- Talent Mobility Solutions
- Payroll Outsourcing
- Entry & Mid-level Recruitment
Why spend time or money managing an in-house HR team if you can hire professionals to manage HR functions more effectively? Start by contacting us now!
Occasionally, a Notary Public may be required to certify the authenticity of a document. Notarization can be a tedious task which imposes some difficulties in completing most of the transactions and fulfilling requirements set by the authorities. With our connections to various law firms, we can assist you in going through the procedures of notarization, legalization, and apostille.
6. Trademark Registration
Trademark is a sign to distinguish the goods and services of your company from the others. If other traders use your trademark in Hong Kong, they may be liable for infringement of your trademark. Likewise, if you do not register your trademark, it is difficult to claim that you are the owner. CW can assist in the registration of your trademark in Hong Kong to protect your brand and further increase your competitiveness.
7. Closing a Hong Kong Limited Company
CW’s Corporate Secretarial Team has strong and experienced specialists who can advise you on closing down your company through deregistration. Work efficiently and effectively with us as we provide you the care and solutions you need!
Hong Kong is a perfect spot for investors to consider because it has no interest tax with higher deposit revenues. We work closely with our clients to ensure compliance with the Hong Kong regulations so that their businesses can run smoothly.
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