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Advantages of setting up a Hong Kong company
Legally recognized legal operation
Any person who fails to apply for a business registration certificate in respect of his business in Hong Kong as required commits an offence and is liable to a maximum fine of $5,000 and imprisonment for one year.
Avoid legal risks
Small businesses such as IG shop/Carousell/online shop must apply for a Hong Kong Business Registration Certificate/BR. The application process for a business registration certificate is simple and fast, and can be completed in as fast as 1 day.
Attractive tax system
Hong Kong has a low tax rate, a simple and clear tax system, and the government often provides various tax rate reductions and exemptions, thus attracting many local and foreign investors to set up companies or branches in Hong Kong.
Government support and subsidies
The Hong Kong government provides various tax reduction measures and subsidies for companies. The minimum application requirement is to have a legal and valid business registration in Hong Kong.
The process of opening a company in Hong Kong
1. Discussion and evaluation
Rich Top professional business consultants will provide you with one-on-one case discussions, aiming to develop the most suitable business plan for you, and explain in detail the precautions and related matters for establishing a Hong Kong company.
4. Payment of service fees and government fees
Applicants can choose to deposit the company registration fee of $1,720 and the business registration fee of $2,150 into our designated bank account by cash, deposit or transfer. Once the payment is received, we will immediately start the company opening procedure.
2. Prepare company incorporation documents
Applicants are required to prepare copies of the Hong Kong identity cards or passports of the directors, shareholders and company secretary (foreigners please provide copies of their passports), as well as proof of address for the purpose of applying to open a company.
5.Complete company registration application
We will apply for your company registration certificate (CI), business registration certificate (BR) and other relevant company documents, and the original documents will be handed over to the applicant after the company is established.
3. Pre-check the company name
Applicants are requested to provide a pre-selected company name in both Chinese and English. We will carefully review existing and past similar names and provide professional business name suggestions to ensure that your company name is appropriately chosen and avoid unnecessary risks.
6. Open a bank account
Make an appointment with a local or online wallet company to open a bank account for the applicant. However, the account opening result will be affected by many factors, and the final decision is entirely in the hands of the bank.
Requirements for opening a company in Hong Kong
1. Shareholders and Directors
There must be at least one shareholder and director who is 18 years of age or older to form a company.
(No nationality limit, companies can be shareholders)
2. Company Secretary
An agent responsible for handling statutory matters of the company and the government.
(Can be a Hong Kong permanent resident who stays in Hong Kong for a long time or appoint us)
3. Registered address
Hong Kong law has a loose definition of registered address, which can be an office, business center, shared workspace, etc.
Bank Corporate Account Opening Services
Opening a bank account is the first task after setting up a company. However, in recent years, the global requirements for anti-money laundering (AML) laws have become more stringent. If you do not have a good relationship with the bank, opening a company bank account in Hong Kong may be difficult. In this case, we are your business partner to help you solve various account opening problems. Over the years, we have established good connections with many banks and can help you open a bank account quickly. We are committed to providing all-round support to ensure that you have no obstacles when conducting business*.
*The account opening result is affected by many factors, including the applicant's financial situation, company industry, minimum deposit requirements, etc. The bank has the final decision-making power on account opening.
FAQs about Hong Kong companies
Rich Top professional team will help you gain an in-depth understanding of common problems in Hong Kong company registration and operation
01.
Q: What are the types of companies in Hong Kong?
Common types of companies in Hong Kong include sole proprietorship, partnership (general partnership and limited partnership), limited company, public company, representative office and branch. Limited company is the most popular type of company, and its biggest feature is limited liability, that is, the liability of shareholders is limited to their capital contribution, personal property is separated from company property, and they will not bear unlimited liability for company debts.
02.
Q: What documents are needed to open a Hong Kong company?
To set up a Hong Kong limited company, the necessary conditions are that the shareholders and directors must be over 18 years old. They can be Hong Kong locals, Chinese residents or overseas persons. They only need to provide a valid passport or identity card.
03.
Q: How long does it take to open a Hong Kong limited company?
If all the documents are ready, we can complete the registration process within one working day at the shortest . However, the actual registration time will depend on the speed of the client's preparation of the information and may be affected by the office hours of the relevant government agencies.
04.
Q: What are the requirements for company names when registering in Hong Kong?
When registering a company name in Hong Kong, the name must be in Traditional Chinese or English. Simplified Chinese characters are not allowed. The name can contain numbers, but it cannot be a mixture of Chinese and English.
The company name can be in both Chinese and English, or one of them. The Chinese name must end with "有限公司", and the English name must end with "Limited".
*As the Hong Kong banking system is mainly in English, it is recommended that companies must register an English name.
05.
Q: Does the company address have to be a shop/office? Can it be registered in mainland China/overseas?
The address of a registered company must be in Hong Kong . Whether it is a shop, an office building, or even your residence, it can be used as a company's registered address. However, we suggest that you consider that if you use your home as the company's address, it may bring you unnecessary troubles if there is any dispute with the company. If you want to avoid the troubles that may come from using a residential address as the company's registered address, you can consider renting a commercial registered address. This method is very affordable, with a minimum annual fee of only HK$1,000, which can save you a lot of unnecessary troubles.
06.
Q: Do I need a company secretary? Is it okay if I don’t need one?
Hong Kong law requires that every company must appoint a local company secretary. The secretary's responsibilities include ensuring the integrity of all company documents and ensuring that all changes to the company are completed on time and correctly in accordance with local laws. This position can be held by an individual or a company (corporate).
We at Tianyi can also provide you with company secretary services starting from as low as HK$50 per month.
07.
Q: When registering a company in Hong Kong, what are the regulations and precautions regarding share capital and registered capital?
When setting up a Hong Kong company, you can choose to register your share capital in US dollars or Hong Kong dollars.
In addition, there is no minimum registered capital requirement in Hong Kong (even HK$1 is acceptable). The general registered capital is HK$10,000, and at least one common share must be issued upon establishment.
*Hong Kong’s capital system is based on a payment system rather than a paid-in capital system.