Applying for Company Registration in Hong Kong, but why? Because Hong Kong is one of the richest economies in the Asia-Pacific region, despite its size. The reason for such immense economic growth of the landlocked country is the corporate sector's growth and the businesses ability to operate effectively within the nation's boundaries. Yes, the Company Registration procedure in Hong Kong is an easy one for both Hong Kong Nationals as well as Foreigners. Let us now dive into the guidance for the Company Incorporation procedure followed in Hong Kong.
Since this article is specifically dedicated to foreigners of Indian, US, or Canadian inhabitance, we will orient the procedure for Company Formation in Hong Kong as per their requirements.
Let us explore each step one by one.
To choose a Trade Name for your Business in Hong Kong, you must first seek the Hong Kong Companies Registrar's approval. It is a must to register a company in Hong Kong. Here, we are listing some of the guidelines for naming a Company as per the Company Nomenclature regulations of the HK Corporate Authority:
After the name registration part of the Company Incorporation process in Hong Kong, the applicant must choose an appropriate business structure for registration as per its o-be-undertaken commercial activities. You can also surf by assessing the Business's tax filing procedure and the registered Corporate's behavior with the market forces.
The following are the corporate legal structures applicable for Business Registration in Hong Kong as per its Companies Ordinance:
As a foreign national, we recommend applying for Privately Incorporated Company model or a local Branch Office for your establishment.
To prepare any Company Formation application in Hong Kong, the applicant must submit the attached required documents along with the license fee payment receipt. The applicant can file the incorporation using either of the following:
To submit the application in person, the applicant can submit the hard copy to Shroff at the following address:
14th Floor of Queensway Government Offices
Incorporation Forms, like:
The applicant must also submit a copy of the Company’s Articles of Association as well as the Business Registration Office Notice.
Major Corporations in Hong Kong prefer the Limited Liability Company model for their Businesses. Most of them are registered with the Companies Registry as an LLC because the model itself offers multiple advantages, such as the following:
After the due approval of the Commercial Registry, the applicant is granted the Certificate of Incorporation as per Hong Kong’s corporate laws. The related Business Registration Certificate is also available for download from the official website in the electronic format. The applicant must raise a special request on the portal to get the certificate's hard copies. But both copies will have the same legal effect.
To get the certificate in hard copy, the Registry will issue them within four working days after the application presenter is notified by fax of the certificates. The applicant can then collect them from the Registry.
After the process completion, the newly incorporated Company must reach out to Financial Institutions to raise investment for themselves. The first step towards this is opening a Bank Account under the Company’s trade name.
To open a Bank Account, the Company must submit the relevant documents that a traditional bank will need, such as the following:
This is an optional step for some businesses. The registered Company must apply for the necessary licenses to run their businesses smoothly in Hong Kong. Several licenses may apply to your Business as per your undertaken commercial activity. Also, many Government Departments in Hong Kong prescribe multiple licenses as per your undertaken commercial activities.
To know other aspects of the Company Registration procedure in Hong Kong, refer to our service page or connect with one of the Incorporation Experts at Registrationwala.