Company Registration in Hong Kong
Hong Kong is regarded as one of the most attractive jurisdictions for starting and operating a business, both in Asia and globally. With its business-friendly tax regime and robust legal framework, company incorporation in Hong Kong is a straightforward process for those aiming to expand internationally.
While it is possible to incorporate a company in Hong Kong on your own, the process can be time-consuming and more complicated than it initially appears. At Fintech Harbor Consulting, we handle every step efficiently and professionally, saving you time and avoiding costly mistakes.
Contents
- Features of the Formation and Registration of a Company in Hong Kong
- Advantages of Setting up a Company in Hong Kong
- Industries in Which We Incorporate Companies in Hong Kong
- How Do We Register Your Company in Hong Kong?
- What Documents Are Required for Company Registration?
- How to Incorporate a Company in Hong Kong
- How Much Does Company Registration in Hong Kong Cost?
- Requirements & Facts About Company Registration in Hong Kong
- Audit and Reporting Requirements for Hong Kong Companies
- Why Should You Choose Fintech Harbor Consulting to Set up a Company in Hong Kong?
Features of the Formation and Registration of a Company in Hong Kong
Setting up a company in Hong Kong can be a truly streamlined and simple process. This jurisdiction allows foreign individuals and corporations to own 100% of a locally registered company, so there are no strict requirements for local shareholders or directors. The most common type of company is Private Company Limited by Shares, which offers limited liability and ease of management.
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Advantages of Setting up a Company in Hong Kong
Company incorporation in Hong Kong can offer numerous advantages, including:
- Relatively low taxation and overseas income exemption: The standard rate is 16.5%, but the first HKD 2 million in profits is taxed at just 8.25%. On top of that, if your company earns income from outside Hong Kong, it may not be subject to local tax, provided certain conditions are met.
- No local residency requirement: Neither shareholders nor directors are required to be Hong Kong residents.
- No VAT: There is no value-added tax.
- Reputable Jurisdiction: A respected international business hub with strong legal and regulatory frameworks.
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Industries in Which We Incorporate Companies in Hong Kong
At Fintech Harbor Consulting, we have extensive experience in incorporating companies in Hong Kong across a range of industries, including:
- IT & software development;
- Online trading and e-commerce;
- Consulting services;
- Import/export and international trade;
- Marketing.
Regardless of the industry, we ensure that your Hong Kong company is established in strict compliance with all local regulatory requirements, enabling seamless and efficient commencement of operations from day one.
How Do We Register Your Company in Hong Kong?
Company registration in Hong Kong is a complex service. With Fintech Harbor Consulting, you make it fast, transparent, and handled entirely online. Here is how it works:
- Initial preparation: We discuss your needs, planned activities, and confirm the structure of your company.
- KYC procedure: We collect all the necessary information, documents (e.g., ID, proof of address, source of funds).
- Company name search: We check your desired company name.
- Drafting of incorporation documents: We prepare the incorporation form – NNC1, a copy of the company’s articles of association, and a notice to the business registration office – IRBR1.
- Delivery of certificates: Once a company is registered, we collect the Certificate of Incorporation and Business Registration Certificate from the Companies Registry and send them directly to you.
Upon request, we can also assist you with a corporate bank account opening and tax advisory, and accounting services.
What Documents Are Required for Company Registration?
For individuals:
- A copy of ID;
- A valid proof of address (e.g., utility bill, not older than 3 months);
- A recent copy of a bank statement (not older than 3 months).
For corporate shareholders:
- Certificate of Incorporation;
- Memorandum & Articles of Association;
- Directors’ resolution.
Please note that in the case of corporate shareholders, we may ask for a certified translation of corporate documents.
How to Incorporate a Company in Hong Kong
Company incorporation in Hong Kong involves several key steps:
- Choose a legal structure and company name;
- Appoint at least one director and one shareholder;
- Appoint a company secretary;
- Ensure that the company has a local registered address;
- Prepare and submit the incorporation documents to the Companies Registry;
- Collect the final certificates from the Companies Registry.
How Much Does Company Registration in Hong Kong Cost?
The price for registering a limited liability company in Hong Kong is 2500 EUR. This price includes the preparation and submission of all the necessary paperwork to the Companies Registry, a local registered address for the first year, and a company secretary for the first year as well – everything you need to get a registered company in Hong Kong.
Requirements & Facts About Company Registration in Hong Kong
- Minimum requirements:
- 1 director (individual or corporate);
- 1 shareholder (individual or corporate);
- Company secretary (HK resident or corporate entity, we provide one for the first year);
- Registered office address in Hong Kong (we provide it for the first year).
- Timeframe: Up to 14 business days;
- Compliance: Annual profit tax return filing and audit reporting are mandatory;
- Banking: Can open a corporate account in Hong Kong or abroad.
Audit and Reporting Requirements for Hong Kong Companies
Every company registered in Hong Kong must meet audit and reporting requirements, no matter whether it’s actively trading or not. Staying informed about these responsibilities is key to keeping your company in good standing and avoiding fines.
Annual Audit of Financial Statements
Every Hong Kong company must prepare and submit audited financial statements annually. The audit must be conducted by a Certified Public Accountant registered in Hong Kong. Please note that even dormant companies must prepare a set of audited accounts.
Profit Tax Return (PTR) Submission
The Inland Revenue Department (IRD) issues the first PTR typically 18 months after the incorporation, and annually in April thereafter. PTR is submitted along with the audited financial statements.
- First PTR shall be submitted to the IRD within one month from the date of issue, with no right of deadline extension.
- For the subsequent PTRs, companies may request extensions if their financial year ends on 31 December or 31 March. More details on extended due dates are available on the official HK government website.
Penalties for non-compliance: Missing the deadline is an offence and can cause a fine of HK$10,000 (~ EUR 1,200).
Annual Return Filing
An Annual Return or so-called form NAR1 must be filed with the Companies Registry within 42 days after the company’s anniversary date of incorporation. This form allows the registry to update information about company structure, share capital, and directorship details.
Penalties for non-compliance: Missing the deadline is an offence and can cause fines of up to HK$3,480 (~ EUR 390).
Business Registration Certificate Renewal
This certificate is a legal document issued by the IRD, proving that the company is registered and legally recognised to operate in Hong Kong. The renewal can be done online, by post, or in person. The BRC is typically renewed annually, but businesses can choose a 3-year renewal option.
Penalties for non-compliance: Penalties for late renewal can cause a fine of HK$ 300 (~ EUR 30) and may result in the company being deregistered
Fintech Harbor Consulting has hands-on experience with Hong Kong compliance matters. We take care of all reporting, audit, and tax filing requirements, so your company stays fully compliant and avoids any unnecessary penalties. With our support, you can focus on growing your business while we handle the paperwork.
Why Should You Choose Fintech Harbor Consulting to Set up a Company in Hong Kong?
Our company is engaged in turnkey company registration across a wide range of jurisdictions, allowing you to choose the country that best suits your business needs and expectations. We provide comprehensive legal support, from company incorporation to providing you with necessary consultations.
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FAQ
Company registration forms in Hong Kong
To incorporate a company in Hong Kong, the following key documents must be submitted to the Companies Registry:
- Form NNC1 (for a company limited by shares);
- Articles of Association;
- Details of directors, shareholders, the company secretary, and the registered office address.
Our team at Fintech Harbor Consulting prepares and submits all necessary forms on your behalf.
Which taxes do I need to pay for company registration in Hong Kong?
Hong Kong offers one of the most business-friendly tax regimes in the world. Here are the key applicable taxes to companies registered in Hong Kong:
1. Profit Tax rates:
- a) 8.25% on the first HKD 2 million of assessable profits (~ EUR 220,000).
- b) 16.5% on assessable profits above HKD 2 million.
- c) Only profits derived from Hong Kong are subject to tax. Offshore income may be exempt, subject to proper documentation and approval from the Inland Revenue Department (IRD).
2. No VAT, Sales Tax, or Withholding Tax
3. Annual Profit Tax Return (PTR):
- a) All companies must file an annual Profit Tax Return and submit it along with audited financial statements. This is a mandatory requirement even for companies that did not generate any income during the year.
4. Employer Obligations (if hiring staff):
- a) Employers must contribute to the Mandatory Provident Fund (MPF) for employees and may be required to report and withhold taxes on employee salaries.
How long does it take to register a company in Hong Kong?
Typically, the incorporation process takes up to 14 business days, provided all required documents are in order. Additional time may be needed for preparing documents or verifying information.
What are the requirements for registering a company in Hong Kong?
Minimum requirements include:
- At least one director (individual, any nationality);
- At least one shareholder (individual or corporate);
- A company secretary (must be a Hong Kong resident or a company);
- A registered office address in Hong Kong.
Can a foreigner register a company in Hong Kong?
Yes. Foreign individuals and companies can fully own a Hong Kong company.
Do we have to present in Hong Kong to incorporate?
No. The entire company registration process can be completed remotely. All documents can be prepared, signed, and submitted electronically. However, if you’re opening a local bank account, the bank may require an in-person meeting or video verification, depending on their policy.
