Importance of Incorporation of the Companies in Hong Kong

Incorporating a holding company in Hong Kong for companies who want a presence in Asia with access to large markets and business advantages such as low taxation, a holding company in Hong Kong is among the best options.

There are various mediating companies which provide a nominee secretary for Hong Kong company incorporation purposes and we don’t have to worry that they will have any control over our newly formed enterprise as they will be a secretary in name only and won’t have any direct dealing in our operations.

As options for clients besides registering their own holding company in Hong Kong is to purchase a shelf company and we can assist with this the advantage is that the process is quicker than registering a new business entity.

How even if clients wish to set up their own holding company in Hong Kong, they will, first of all, carry out a detailed search with the companies registry in Hong Kong to ensure that the proposed company name is acceptable and not already in use. From there they will prepare all the necessary documentation which will require the client's signature before proceeding with incorporation.

Easy Procedure for Hong Kong Online Company Registration

There are so many reasons a business owner prefers to set up operations in Hong Kong when he is planning to expand his business outside his home country. For a foreign company, Hong Kong offers a very business friendly environment with an amenable tax structure. There are several agencies which can help do the initial paperwork while incorporating a company in Hong Kong. This city also has a dependable pool of skilled professionals who can help run the business smoothly. Hong Kong is truly cosmopolitan with businessmen and professional from all over the world living and working here. The city offers easy access to some of the most profitable markets of Asia.

When a new company is to be incorporated in Hong Kong, there are well explained and easy steps to be followed. Before initiating the process, the business owner needs to choose a name for his firm. The name should be in English and Chinese. It should not match any name already taken, and neither should it infringe any trademark used by another firm. Once the name is finalized, a postal address needs to be finalized for the firm, which shouldn’t be just a post box. It should be a real address that exists physically. If the business owner finds it difficult to buy or lease any office space, he can utilize the services of any agency that can provide a postal address and office.Additionally, the authorities have also set up websites to facilitate the process of Hong Kong online company registration.

After these two issues are taken care of, the business owner needs to fill up two forms (one for incorporation, the other for business registration), complete the Articles of Association, and then log on to the website of the Companies Registrar for applying for incorporation. The necessary fees can also be paid online. If there are no queries, then the incorporation certificate would be issued the same day.

Why is Company Registration Necessary?

It has an exceptionally effective transportation system, working the legitimate system and best in class media transmission infrastructure makes it the objective of entrepreneurs. The utilization of English in this City additionally elevates its appeal as the perfect area to start a business. Hong Kong follows English common law which advocates for the principles of value or rules of equity. It has a highly skilled workforce that is its delegated jewel. This benefit attracts business investors to put pen to paper. 

When you register company in Hong Kong online then it requires a straightforward way to deal with business. This adds to the chances of having your organization effectively settled. Keeping in mind the end goal to accomplish the level of straightforwardness required, you could consider hiring the services of experienced officials who are fully informed regarding techniques that can enhance your business results.

Requirements:-
a)    When you want to register company in Hong Kong online, then you can appoint foreign business investors as its director and shareholder.
b)    There is at least one director and shareholder is required. One individual can bend over as director and shareholder
c)    The minimum share capital prerequisite is HK$10,000. This amount shouldn't be paid in advance.
d)    Company incorporation in Hong Kong requires a registered office in the ward and an inhabitant individual or a nearby organization to go about as secretary.
e)    When you register company in Hong Kong online then the company name should end with the word Ltd or Limited. This state limited liability. 

When you register company in Hong Kong online then the procedure of bank account is clear. You might be required to meet personally with the bank. Be that as it may, due to the expansive system of extraordinary connections in the banking sector, it might be superfluous to do as such. Opening the bank account for your organization may pick up your access to additional account highlights. Some extra corporate account benefits like credit/debit cards, low transaction fees, internet banking, multi-currency accounts.

There is any company that fails to apply for company registration in Hong Kong will pass up a major opportunity for lucrative business openings. This financial center gives organizations all the need incentives for development. This city is a doorway to China and numerous other world markets.

Procedure to Register the Private and Public Company Online in Hong Kong

Some of the companies operating by private or some are the public limited company. Your company name can be English, Chinese and the combination of English & Chinese. But the name must be unique that no another company have.  As Hong Kong is new for foreigner and they do not know the procedure of company formation in Hong Kong. So, you must hire the agency in Hong Kong who provide the best services and make your procedure as simple as it. And if you don’t want to travel Hong Kong so just file the application online.

There is two type of company in Hong Kong which you can set up here:

      Private Company (Limited by Share)

      Public Company (Limited by Share)

The main difference between both the public and the private company is as follow:-

§  A minimum number of member is required in public company is seven whereas in private company is two member.

§  There is no limit on a maximum number of the member whereas there are not more than 50 members in private company.

§  The private company is required to end with the word private limited where the public company needs to end with the word “limited”.  

After getting the name of the company you have to go ahead the next procedure which name is suitable to your company. Company name should be related according to services you offer. After that, you have submitted your company name to the agency then they will confirm its availability and prepare all the related documents for further process. Documents are Article of Association (AOA) and Memorandum of Association (MOA). After that, you have to appoint one Director and one shareholder and one Company Secretary, where director and shareholder act as same and director and shareholder can be of any nationality. You must hire a resident company Secretary and it cannot be the same as director and shareholder.

When you have all members of Company which are required to form a business then the next step is to submit the documents of director and shareholder which include copies of passport and address proof. Address proof can be electricity bill, rent bill, etc. after that agency will contact you for the further process which fills the application for registration of certificate and sign it and send back to them by e-mail.

When you receive the company incorporation certificate then file the further documents which are required for Private and public company registration online in Hong Kong.

1.      Memorandum of Association (MOA) and Article of Association (AOA)

2.      Statutory declaration

3.      Authorized and issued share capital

Finally, the company incorporated to the Inland Revenue for a Business Registration Certificate and after that, it will take 10 days’ times to incorporate the company in Hong Kong. We at Stephen M.S. Lai & Co CPA Limited offer the company incorporation or registration in Hong Kong. We provide both Private and public company registry of Hong Kong.