What’s in this article
When registering a corporation in Hong Kong, you must satisfy some basic criteria. As a result, before deciding how to establish a business in Hong Kong, you should be aware of the following criteria.
Company Name
You must have the name of the firm that you intend to establish for Hong Kong company incorporation. Remember that you cannot use the name of another business that has already been formed or is now in the process of being incorporated.
Directors of Limited Companies
- To register a private limited company in Hong Kong, you must have at least one director, and there is no maximum number of directors.
- At least one of the company’s directors must be a natural person of majority age.
- A director can be a foreigner or a non-resident, but they must not be insolvent or have a criminal record.
- It is not necessary for directors to be shareholders.
Shareholders of Limited Company
Hong Kong enterprises can have 100% foreign or local ownership. There must be at least one stakeholder and no more than fifty.
Significant Controllers Register
The controller’s register might be stored in either hard copy or electronic form in the Company’s Hong Kong location. The business registration provides information on individuals who have substantial control over the firm. The Company must nominate at least one person as its designated representative.
Company Secretary
Every Hong Kong firm must have at least one company secretary. Before you begin the process of establishing a business in Hong Kong, you should intend to have one within the first six months after its establishment. If your company’s secretary is a corporate body, it must have a physical presence in Hong Kong. However, if they are a person, they must typically live in Hong Kong. A firm with only one director must select a secretary who is not the director.
Share Capital
There is no minimum share capital required for Hong Kong company incorporation. Furthermore, the share capital is not restricted to the Hong Kong Dollar currency. The transfer of shares is solely subject to stamp duty expenses. Every company registered in Hong Kong must have at least one shareholder and one ordinary share issued.
Registered Address
All Hong Kong companies need to have a valid registered physical address and not merely a PO BOX.
Public Information
This document contains information on the Company’s shareholders, directors, and secretary. All Hong Kong-registered firms must update their information with the Hong Kong Registrar of firms. If you wish to maintain additional anonymity, select a separate nominee corporate shareholder and nominated director.
Taxation
- Hong Kong has a two-tier profit taxes system. The first $2 million is taxed at 8.25%, while any profits beyond $2 million are taxed at 16.5%.
- The tax system operates on a territorial basis. Only income earned in Hong Kong is subject to taxation.
- Capital gains, dividends, and GST/VAT are not taxable.
Annual Compliance
Before you begin the process of creating a business in Hong Kong, you should be aware that your company will be audited annually by the Certified Public Accounts. As a result, it is in your best interests to hire a trained accountant to guarantee that your transactions are correctly documented and that all taxes are remitted in accordance with Hong Kong tax laws.
Hong Kong Company Registration Documents
So, now that you’ve learned about the fundamental prerequisites for creating a company in Hong Kong, let’s go over some of the essential papers.
- You’ll need the Company’s Articles of Association.
- Notice to the Business Registration Office.
- A properly completed business incorporation form includes all of the essential information needs listed above.
- All shareholders and directors who are not Hong Kong citizens must present passport copies and verification of foreign living address.
- The resident directors should also produce their identification cards and evidence of living residence.
- Corporate directors and shareholders must provide the parent company’s registration documentation.
All of these documents are easily available in Hong Kong, and you may engage specialists as needed. If you’re wondering where you can receive any or all of the aforementioned paperwork or criteria, don’t worry. Paul Hype Consultancy Services can assist you throughout the incorporation procedure for your Hong Kong company.
Company Incorporation Process
Company registration in Hong Kong is quick and simple. There are three ways to submit your application, which include:
- E-registry gateway online
- “CR eFiling” is a mobile app that can be downloaded from the App Store.
- Submit all hard-copy documentation to the Companies Registry.
The duration of a company’s registration in Hong Kong is determined on the manner of application. For example, the online application takes about an hour, but sending paper copies might take up to four business days.
Why Choose Professional Registration Services?
Professional registration services, such as Paul Hype Page Hong Kong, will handle all of the essential stages through their end-to-end registration services. We provide the following services when registering a business in Hong Kong:
- Company name search and reservation
- Preparation of all required registration documents
- Ordering the common seal and stamp for the company.
- Assist with bank account opening.
- Assist you with bookkeeping and submitting tax returns.
- Obtaining the incorporation certificate from the Registrar of Companies.
Incorporating our services into your organization can truly simplify your job and provide you with vital services such as recruiting, appointing, and compliance assistance.
Moreover, if you’re looking to expand your business from Singapore into Hong Kong, Enterprise Singapore has the Market Readiness Assistance (MRA) Grant for your business to expand while minimising the costs involved.
Conclusion
In a nutshell, registering a corporation in Hong Kong is quick and simple. However, the procedure may be difficult if you are unfamiliar with all of the requirements and essential documentation. Our skilled staff will collaborate with you procedurally to guarantee that the entire procedure is successful.