Company Registration in Hong Kong
Conducting foreign economic activity requires certain legal support. After all, modern trade and cooperation take place across borders. Many companies are in search of potential opportunities in various economic jurisdictions. One of the nuances of foreign economic activity is the existence of a company registered abroad, for example, in Hong Kong.
True, you can make a company registration in Hong Kong yourself. It will take a long time—registering a company in this jurisdiction is not as easy as it might seem. But for Fintech Harbor Consulting, this is not a problem. Call us +447458149171 to get a free consultation, and an individual service calculation.
Features of the formation and registration of a company in Hong Kong
Hong Kong is one of the well-liked places to register a company in. It should be realized that the physical existence here is very costly. But this does not prevent companies from all over the world from placing their offices here. Hong Kong is a dynamic business city and is a center of financial operations. The city is popular due to loyal taxation.
Hong Kong often ranks at the top of global business-friendly ratings. City policy is set to help businesses scale without any problems.
Jurisdiction has its own laws and bureaucracy. But at the same time, business registration in Hong Kong will give access to a dynamic, open economy. Hong Kong has a stable economy, a productive workforce, and an expanded network of like-minded worldwide.
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Advantages of setting up a company in Hong Kong
Hong Kong is one of the largest financial centers. The main advantage of Hong Kong is that many Chinese laws do not work here. This means that the company management will be freer without total supervision by regulatory authorities.
Why it is worth setting up a company in Hong Kong:
- Documents can be filled out in English, which is very convenient and will not cause problems;
- Hong Kong is a reputable and competitive place in the business world. Your future business partners are here;
- The economic area is a non-classical offshore region;
- You can easily reach mainland China, opening up an even larger market;
- There are no customs duties. Bureaucracy is minimal, which reduces time and commissions for paperwork;
- Low level of corruption;
- Low operating costs;
- Directors, investors, and shareholders do not have to be Hong Kong citizens;
- Complete economic stability.
Many companies can operate without a license. This speeds up both the Hong Kong business registration process and the trading process. If the activities of your company are related to finance, tourism insurance, import and export, issuing the relevant permits and licenses is required. The same applies to companies that provide consulting or catering services.
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Industries in which we incorporate companies in Hong Kong
Fintech Harbor consultants are ready to help you with entering the Asian market and opening a company for any commercial activity, including licensed ones. If you plan to engage in the Sphere of catering, Tourist activities; provide financial or banking services (including Forex and Crypto exchanges and exchangers) you will need to obtain a special permit, such as a forex business license. We will be happy to provide you with individual advice, taking into account the specifics of your business.
How we register your company in Hong Kong?
Company registration in Hong Kong is a complex service. It involves the following steps:
- Preparation for company registration.
It consists of the choice of the name and form of organization. Here it must be taken into account that the abbreviation of the legal status, for example, LLC, must be included in the company name.
The company name must not contain words prohibited by law. Some words and phrases describe the type of activity the company is engaged in. Choose unique names, so before deciding on a name, you need to check it in the name registry.
- Legal address registration.
- Choosing the CEO.
- Choosing a secretary.
- Shareholders’ meeting. According to Hong Kong law, there can be up to 50 shareholders. Citizenship is not important.
- Authorized capital. There is a minimum authorized capital.
- You have to keep accounting records.
You will also need to solve the issue of taxation. Information about all employees must be publicly available. Information about the director and shareholders may be confidential.
It is necessary to prepare a package of documents for the Hong Kong company registration. This will take quite a long time. Next, you need to open a bank account. To do this, you need to provide the director’s documents, the company’s statutory documents, information about the beneficial owner. At this point, you need to register with the local tax authority.
The last step is obtaining a license. It is not needed for all activity types. It should be received only by those companies that are associated with lending (banking in general), tourism, insurance activities, import/export of goods, and investment consulting.
Focus on your business and leave the organizational matters to us. Contact Fintech Harbor Consulting specialists, and we will start the process of company registration in Hong Kong today.
What documents are required for company registration?
Hong Kong is a liberal economic area. But even here, you can’t do without red tape. For company formation in Hong Kong, you need to prepare:
- Company Statute. This is where the principle of your business is written;
- Fill out the registration form. It must indicate the company name, legal address, type of activity, information about directors, shareholders and secretary, passport details of directors and non-resident shareholders of the company, share capital and a list of directors’ obligations.
The documents list for Hong Kong company registration may expand. It depends on the regulator’s requirements for your company’s activity type. Additional permits might have to be issued. Fintech Harbor Consulting will arrange everything your business needs in the shortest possible time.
How to incorporate a company in Hong Kong
Registering a company in Hong Kong is faster than in other economic areas. To create a company, the following conditions must be met:
- Pick a name to apply to the Registrar of Companies to create an entry about the newly registered legal entity.
- Hire a local corporate secretary. This is the main requirement of the government. The employee regularly notifies the government about changes in the company, keeps records and submits statutory documents on time;
- Obtain a legally registered address. It will be specified in the company resolutions. Moreover, the government sends correspondence to this address.
- Obtain a business registration certificate.
Business registration is usually carried out quickly. The period may be affected by some complexity associated with the type of activity. This is about obtaining the appropriate licenses.
Also, a company must be registered with the Inland Revenue Department (tax authority) and obtain the necessary licenses within one month. After successfully executing these actions, company incorporation in Hong Kong can be considered done. We also assist with nominee directors, secretarial services and acquiring a company address.
Save your own time. Fintech Harbor Consulting will do everything for you. We will take care of the paperwork for Hong Kong company formation from A to Z. You will be able to concentrate the main forces on business. We provide legal support at every stage of registration.
How much does company registration in Hong Kong cost?
The price for registering a business incorporation in Hong Kong is 1500 EUR.
Requirements & Facts about Company Registration in Hong Kong
Basic essentials for setting up a firm 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 HK requires at least 1 shareholder with one common share issued at their establishment.
Why should you choose Fintech Harbor Consulting to set up a company in Hong Kong?
Our company is engaged in turnkey company registration. We work with diverse offshore zones. This allows you to select the country that best suits your business. We provide legal support, from the company name registration to the receipt of all supporting documents.
What will you get from cooperating with us:
- You send us all the necessary documents by mail. Each stage of company registration is carried out under our supervision;
- Registration of the company on the day of application. Start registration right now – call us, come to our office;
- We collect additional documents;
- We check the company name in the state register;
- We carry out the KYC procedure with the relevant regulatory authorities.
Registering a bank account is a complex process. The financial institution may not approve the account creation. But this is not a problem for Fintech Harbor Consulting. Account registration takes place in a bank suitable for your business.
Reviews
I ordered the registration of a company in Hong Kong on a turnkey basis. I don’t understand anything in the international bureaucracy, so I decided to entrust this matter to Fintech Harbor Consulting professionals. The initial request included Hong Kong company formation with a bank account. The guys did not let me down – I received the documents by mail, and now I use my bank account without any issues. Business is growing steadily, I pay taxes regularly, and they are loyal. I get clients from all over the world.
I’ve been interested in Hong Kong for a long time. But I didn’t know how to register there. There are a lot of nuances related to Hong Kong company formation services, and you don’t want to get a fine or an asset freeze later. I contacted Fintech Harbor Consulting. Registration started immediately. I sent the documents required by the jurisdiction. I also received all the licenses, certificates and documents I needed by mail. Everything is fast and without problems.
We have long needed a company in Hong Kong. There is more loyal legislation, business is not so much suppressed with taxes – that’s what I need. I tried to register a Hong Kong company on my own and I failed. Then I decided to contact Fintech Harbor Consulting. Registration went quickly and without any difficulties. I recommend it.
FAQ
Company registration forms in Hong Kong
The most popular form of business registration in Hong Kong is Limited Liability Companies (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 Companies have 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. You must provide a copy of the director’s passport. Also, the list of documents for a Hong Kong company setup includes a letter from the bank confirming solvency. There is a copy of the memorandum of association, and the legal address confirmation here as well.
Which taxes do I need to pay for company registration in Hong Kong?
The initial tax paid to register a business in Hong Kong is 0.1% of the authorized capital. As long as the company does not start doing business, making a profit, exemption from taxes is allowed. The exemption applies with one condition – you cannot make deals with local companies. If this cannot be avoided, a 16.5% tax will be charged. Upon registration, a one-time state fee of HKD 1,720 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 profit, the tax cannot exceed 30,000 HKD.
How long it takes to register a company in Hong Kong?
Hong Kong has a simplified procedure for non-resident companies. After receiving the documents company registration lasts 7 work days. The period may vary depending on the completeness of the documents package. The most important, personal presence of the beneficial owner is not necessary; the Hong Kong company registration service can be completed remotely by power of attorney. Call us right now, and we will advise you on incorporating a company in Hong Kong. All consultations are provided strictly confidential.
Requirements to register a company in Hong Kong
Hong Kong is a city with a loyal economic climate. The jurisdiction does not provide strict requirements for registering a company. We need a director, the legal address of the company (for correspondence, etc.), authorized capital, a local secretary. A certificate from a banking establishment confirming solvency is required. Setting up a business in Hong Kong is considered one of the simplest procedures, and the legal transparency and reputation of the jurisdiction bring benefit to entrepreneurs.
Can a foreigner register a company in Hong Kong?
Absolutely anyone can register a company in Hong Kong. Citizenship and place of residence of the director and/or beneficial owner doesn’t matter. There is only one mandatory condition for Hong Kong company incorporation—the secretary must be a local person. The jurisdiction does not require the company owner to change citizenship. Also, there is no need to look for a nominal director from the local population.
Do we have to present in Hong Kong to incorporate?
No, personal presence is not required either for business setup or for bank account opening in this jurisdiction. We will do everything remotely to save your time. After the registration process is completed, you will get documents in our office delivered by DHL courier.
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