Incorporating a company in Hong Kong gives it the opportunity to expand and grow
in one of the most lucrative markets in the world.
Hong Kong is one of the most lucrative markets in the world. The companies working or incorporating in Hong Kong are performing extremely well. Incorporating a business in Hong Kong is very easy and cheap. One can easily apply for Company Registration in Hong Kong through a third party without even the presence of the owner or directors.
The most common type of business in Hong Kong is a Limited Liability Company [LLC]. The Limited Liability Company has a separate legal entity and the liability of its owners is also limited. After the company incorporation, one can easily business bank account at a recognized worldwide bank, which has its own benefits as Hong Kong is a leading banking center.
An adult whose age is above 18 years can start up a company in Hong Kong. Online Company Registration in Hong Kong takes about 5-7 working days.
Any person who is above the age of 18 and has a clean police record can become a director of the company. Director does not have to necessarily be a citizen of Hong Kong.
It is mandatory to receive the approval of the company name before incorporating the company.
A company in Hong Kong can have a maximum of 50 shareholders. They don’t have to be local citizens. Also, a shareholder and a director can be the same or different persons. Meetings of shareholders and directors can be arranged at any place of convenience.
Appointment of a company secretary is mandatory for a company in Hong Kong. The person who is appointed as the company secretary cannot be a director or shareholder of the company. The CS will be responsible for maintaining the statutory records and books of the company.
In Hong Kong, there is no requirement of minimum share capital. What is important is that a company should have at least one shareholder.
Audit of accounts - It is compulsory to have the company accounts audited annually by a certified public accountant.
Annual returns - Annual returns of the company have to be filed with the Hong Kong company registry.
Annual general meeting - Annual General Meeting, of the company, should be held on a yearly basis, as per the calendar year. The first Annual General Meeting should be held within 18 months of the date of registration of the company.
As per the laws in Hong Kong, all the information regarding the directors, shareholders of the company is public and shall me mandatorily filed with the Hong Kong registrar of companies.
As per the laws, there is no requirement of paying any taxes such as GST in Hong Kong. The only tax that has to be paid is the one derived from the profits made in Hong Kong.
For forming a company in Hong Kong, you will require the following documents.
A copy of the Articles of Association for the company.
A fully completed incorporation form that includes the following:
For non-resident shareholders and directors:
For resident shareholders and directors:
For corporate shareholders and directors:
Note: For any non-English documents that must be translated to either in English or Chinese.
At Vakilsearch, we can deliver all your documentation requirements in just four working days. And if you're not totally satisfied, we'll take another couple of days to work on the modifications you need. All at the lowest price, both online and offline.
We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.
Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we'll try to ensure that your doubts are cleared before they even arise.
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