Company registration in Hong Kong

Hong Kong is a notable administrative territory of the PRC and one of the leading financial hubs in the world. Hong Kong’s reputation is established on its favorable geographic location, loyal government policies towards new enterprises, foreign investors and lack of corruption.
In international economic rankings, the jurisdiction ranks high level in terms of doing business. That is why company registration in Hong Kong is an opportunity to directly enter the Asian market.

What does company registration in Hong Kong covers?

Hong Kong is a well-known (non-offshore) zone. Because of developed legal system of the jurisdiction procedure of company formation in Hong Kong is very clear and efficient. To comply with all the conditions of local legislation and provide government agencies with the required package of documents, professional legal support is needed.
A businessman can choose the ownership form of a newly opened enterprise. The most typical are sole proprietorship, commercial partnership, and private limited company (the most widespread structure).
The company title must include an abbreviation for the legal form. For example, LLC or Limited by shares. Do not use the words “Trust”, “Chamber of Commerce”, “Bureau” or “Government” in the title. The words “Bank” or “Stock Exchange” can only be used after license is issued. Setting up a company in Hong Kong with English, Chinese, or English name is allowed.

Advantages of company registration in Hong Kong

Local companies in Hong Kong can apply for preferential conditions with minimal taxation. However, this does not make it an offshore enterprise. An audit is obligatory once a year, regardless of tax status. Taxation is based on the source of income.
If a company set up in Hong Kong does not accomplish business in Hong Kong and has no income within the jurisdiction, it can apply for a tax exemption and will be taxed at a 0% rate. The reputation of Hong Kong companies in the international market is considered reliable.

How do we register your company in Hong Kong?

The business registration in Hong Kong begins with the approval of the firm’s name. You need to apply to the Registrar of Companies to create an entry about the newly registered legal entity.
After that, a state fee and tax on the share capital have to be paid. The director may obtain a Certificate of Incorporation in 4-5 business days.
A package of registration documents must be sent to the Registrar within 14 days. After that, a bank account can be opened. To open an account in a Hong Kong bank, the personal presence of the director is required, as well as the details of the beneficial owner of the company.
Also, a company must be registered with the Inland Revenue Department (tax authority) and obtain the necessary licenses within 1 month. After these actions are successfully executed, company incorporation in Hong Kong can be considered done.

Reviews

We have long wanted to enter the Chinese market. We contacted Fintecharbor to register a company in Hong Kong. All issues were resolved within a month.
We successfully opened a company in Hong Kong and obtained the necessary licenses. Lawyers were always in touch and answered all questions. Highly recommend.
We needed to obtain an EMI license for a company in Hong Kong. This usually takes a long time. But the lawyers simplified this task and submitted all the applications rapidly. We received a package of documents for a legal entity at the company’s office a month after the request.

FAQ

The most popular form of business registration in Hong Kong is Limited Liability Company (LLC). There is also Sole Proprietorship and Partnership. Hong Kong Sole Proprietorships do not have a separate legal entity status, and the Partnership is considered a simple extension of the rights and obligations of its partners. Hong Kong Limited Liability Company has a legal identity of their own distinct from their members. This allows the company to acquire assets, commit itself to debt, enter into contracts, sue, or be sued.
Upon registration, a one-time state fee is paid. The tax on the authorized capital is paid at the same time. The amount of the authorized capital is not limited, usually, it starts from 10,000 HKD and is divided into shares with a value of 1 HKD. The share capital tax is 0.1% of the amount exceeding HKD 10,000. But regardless of the increased share capital, the tax cannot exceed 30,000 HKD.
Hong Kong company setup service cost depend on the specific package you prefer to chose. The package of services includes obligatory points — verification of the company name for uniqueness and compliance with applicable laws of Hong Kong, Collection of documents and their translation, KYC procedure, reparation of the required official documents, and filing with the Register of Companies. Also there are additional services and items that are covered by more comprehensive packages. After the registration process is completed, you will receive documents in our office or by post.
Hong Kong has a simplified procedure for non-resident companies. Company registration can usually be completed in 5-7 days. Personal presence for registering a company is not required, Hong Kong company registration service can be completed remotely with power of attorney.

Requirements to register a company in Hong Kong

Basic requirements for registering a company in Hong Kong include:
Unique name and registration of all individuals who have significant power over the company.
A Designated Representative (DR) for reporting to the local authorities.
At least 1 director. No citizenship and residency requirement.
At least 1 shareholder. No residency requirement. 100% foreign ownership allowed.
A corporate secretary is required (individual resident of Hong Kong).
Share capital. Registration of a business in Hong Kong requires at least 1 shareholder with one common share issued at their establishment.
Looking for company formation services in Hong Kong? Visit our website for company formation in Hong Kong.