How to Register a Company in Hong Kong – Some Basics
Setting up a Hong Kong business is relatively easy and straightforward, devoid of any unnecessary red tape or bureaucracy. Hong Kong also adopts an open-market foreign ownership scheme by allowing the shares of a company to be 100% foreign-owned. Companies that are registered in Hong Kong are also known as “Hong Kong limited liability companies” (LLCs) or “Hong Kong public limited liability companies.” A business will be registered in Hong Kong by having a director and shareholder with the local office of the Department of Justice.
How to register a company in HK has been a question that has plagued people for centuries. Hong Kong is considered to be one of the most comfortable locations to do business in the whole world, with minimal paperwork required.
Before you decide on any business to get registered in Hong Kong, you have to ensure that it meets the legal requirements of the location. The following are the basic requirements of registering a business in Hong Kong: a business registration certificate, an applicable business license, an account statement of all bank transactions, a copy of your passport, an address and telephone number for your office, and an employee or a manager who is authorized to handle business. Besides, if your business has employees or managers, you must provide them with their employment contracts. Business registrations are usually done via the internet.
To establish a business in Hong Kong, you need to find the right person or company that will help you with your needs and give you a business license. A business license is required when you wish to establish a business of your own. If you wish to start a business which will be used by others as well as the government of Hong Kong, you must apply for a Business Registration Certificate.
When you register a business in Hong Kong, you will need to have a representative visit the Department of Justice to get a copy of your business license. This permit will prove to them that your business is legitimate and a legal entity. Besides, you will need to show your financial records, business cards, and your official seals.
A business license can be renewed after six months if ever it has not been renewed. The business license will also serve as your proof of registration in Hong Kong.
After you get a business license, you need to know the rules and regulations of the location before starting your business. There are specific rules and regulations about the location of your business, like the type of license and what type of business you will be doing. If you do not understand what these are, you can hire a business lawyer or an expert to help you out.
As part of how to register a company in Hong Kong, you also need to provide your company’s name and address on your business registration form. You can get these details online. For example, you can use the yellow pages, search engines, and the internet, to find the appropriate business directory and business directories that offer this service.
It will be more difficult for you to get your business listed when it is a business which is based overseas. If you are thinking about doing business in Hong Kong, you should consult a local accountant who can guide you and advise you on how to register a company in Hong Kong. He can also tell you about other things that may make your business easier to run.
You can ask your accountant about the benefits of using a registered company in Hong Kong, such as the tax benefits that you can get from it if you decide to use this company. Besides, you can also ask about the benefits of having your business registered with a foreign company instead of your own, especially if you want to do business with a country where English is not the primary language.