Hong Kong Focus
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Hong Kong is Asia’s World City
With over 9,000 businesses and companies having chosen Hong Kong as their home, no other city has ever quite succeeded in stealing the show from Hong Kong in the contest to win the much coveted title “Asia’s World City”. Lauded for its economic freedom, competitiveness, opportunity and ease of doing business, and for its role as an international financial centre and the key gateway to China, Hong Kong is truly one of a kind.
A stable, low and straightforward tax system
Free trade and free market
Free flow of capital without foreign exchange controls
English as the lingua franca of business
One of the most advanced business infrastructures in the world
Strong trade and economic ties with the Mainland China and other international markets
Steps to Set Up a Company in Hong Kong
A company has the option to register an English name, a Chinese name, or both an English name and a Chinese name. An English company name must end with the word “Limited” and a Chinese company name must end with the characters “有限公司”.
Reference: Guideline on Registration of Company Names for Hong Kong Companies
A limited company incorporated in Hong Kong is required to have a company secretary. The company secretary is responsible for ensuring that the organisation scrupulously adheres to all rules relating to corporate governance as well as other financial and legal regulations. As a principal officer of the organisation, the company secretary possesses a comprehensive understanding of the corporate governance framework, ensuring that protocols and guidelines are accurately documented.
Every business operating in Hong Kong is required to maintain a Registered Office address which serves as the designated location for receiving all official government documents and correspondence.
It's mandatory for the provided address to be a physical one and not a P.O. box. Furthermore, the registered office address cannot be situated outside Hong Kong.
Reference: What is a Company Secretary in Hong Kong?
A company must have at least one director. Where there is only one director, the director must be a natural person and not a corporate director. Generally, directors must be individuals who are at least 18 years of age or corporate entities of any nationality, domicile and residence.
A company must have at least one shareholder and a maximum of 50 shareholders, excluding employees and former employees. Shareholders can be individuals or corporate entities of any nationality, domicile or residence.
All companies (except those listed on the Hong Kong Stock Exchange) incorporated in Hong Kong should maintain a Significant Controllers Register (“SCR”) at the Registered Office or a designated location in Hong Kong. The SCR contains information on the natural persons and registrable legal entities that have significant control over a company.
Reference:
Hong Kong Company Setup: A Guide to Incorporating a Hong Kong Company
Guide to Maintaining the Significant Controllers Register for Your Hong Kong Company
Your appointed Company Secretary shall prepare and deliver the application documents either electronically through the Registry's electronic service portal "e-Registry" or in hard copy form to the Companies Registry's office.
The application documents include:
- Incorporation Form;
- A copy of the company's articles of association; and
- A Notice to Business Registration Office
Once the application is approved, your Company Secretary will download or collect the Certificate of Incorporation and Business Registration Certificate (“the Certificates”), depending on the mode of delivery of the applications. Certificates in electronic form or hard copy form have the same legal effect.
- Electronic Certificates for private companies limited by shares will normally be issued within 1 hour.
- Certificates for companies limited by shares in hard copy form will normally be issued within 4 working days.
Depending on your business activities, your company may be required to obtain other relevant permits and licenses before you start carrying on the business in Hong Kong.
References:
- Import and export operations
- Other business operations in Hong Kong.
Choose a bank. Enquire online or by phone in advance to learn about the requirements of opening a corporate bank account. Make an appointment with the bank.
Gather all the required documents and submit the applications during the bank appointment.
Submit additional documents/information if required.
After the internal review by the bank, you will receive the account information if the application is approved.
Reference: Account Opening and Maintenance
Frequently Asked Questions
FAQ Disclaimer:
The provided questions and answers below are not meant to encompass all possible inquiries and should not be considered as personalized professional advice for your specific questions, issues, or concerns. These responses do not establish any obligation on our part to provide assistance. We invite you to reach out to us for a more comprehensive discussion about your individual matters or areas of focus.
Can a foreigner set up a company in Hong Kong?
What is the minimum capital requirement for a Hong Kong company?
Do I need to rent a physical office space in Hong Kong?
How long does it take to form a Hong Kong company?
What are my annual obligations to maintain a Hong Kong company?
How much tax does my company have to pay in Hong Kong?
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