Easy Procedures for Company Formation in Hong Kong

The principal corporate legislation is the Companies Ordinance. The sort of companies that are used for international investment or trade is “Private limited company”.  A Hong Kong company have all the powers same as natural persons. The official language in Hong Kong is English or Chinese. 

 There are two types of companies which foreign investors start in Hong Kong which includes:-

1)      New company in Hong Kong

2)      Already foreign existing company in Hong Kong or Shelf Company

You can hire an agency for Hong Kong company incorporation; they are providing high-quality services to the foreign business investors and make their entire process easier and reliable at a good cost. For this process, you did not need to go anywhere; you just have a laptop and internet facility with you. Just visit consulting firm’s website and fill the online application form and after that professional persons will shortly reach you to guide next steps.

Hong Kong Company Incorporation Procedures:-

1)      Choose the type of company which you are going to start in Hong Kong. You can choose either a new company or existing company according to your business plans & objectives. Agency will help you to choose the best options.

2)      After choosing the type of company, you have to choose the company name which is unique and related to your company services. The company name must be in English or Chinese and both English or Chinese.  Agency will provide you the best company name list which is related to your services then you have to choose the best among all options.

3)      Then you have to submit the required documents for Hong Kong company incorporation which is Memorandum of Association (MOA), Article of Association (AOA), and Declaration of Compliance.

4)      After submitting the documents, the agency will give you some documents which you need to sign and send back to them through emails.

5)      Within 10-14 days, you will receive a Certificate of incorporation.

Certain Things Which You Need to Take Care for Company Formation Hong Kong

Hong Kong is one of the free economies in the world, and it is the best place to start a business. It has a stable economy and a proper gateway to the booming economy China. Hong Kong is a structured to support company development and has a booming economy in the world so it is easy to start a business here. Staying Hong Kong to run a company is not required; you can run a company without traveling Hong Kong.  You just need a resident company secretary to take care of your office and all the expense of the company. You also have little bit knowledge of taxes for successful business but the good things are that Hong Kong company formation has simple tax benefit and you do not have any problem about company formation in Hong Kong.

Before the formation of the company, you need to take care of certain things that help to increase company success. The following points will help you for Company formation in Hong Kong.

1.       It is important that your product or service idea is completely unique and capable of getting the best results in no time. You have clear pictures of your goals and objectives in order to succeed in a foreign country. Hong Kong is the best place to assess your own idea as it welcomes innovation with open arms. But first of all, you have to set all the things before you come into the world of unpredictability.

2.     For ong HoHong Kong company formation process, there is required a lot of paperwork or documentation for company Formation in Hong Kong.  So, you can hire a professional agency that is eligible to provide these facilities and take care of all the process done by own and do not face any problem.

3.     To start any business in Hong Kong, you have required a registered address and residential company secretary. If you are not able to present in Hong Kong throughout the world then the agencies provide the virtual office address that is used to start a business in Hong Kong.

4.    After company registration process, you have to require the office bank account. From this process, you need to travel the Hong Kong because the bank officer asks a question related to business that what is your company plan? And why are you setting up your business Hong Kong?  After having this interview you can get an e-mail from agency side that you’re previous all process is completed successfully and now you are the owner of the Company.

5.     After company registration in Hong Kong, you have to open a bank account with e-banking services at one of the globally recognized bank HSBC banks who can take care of your all business transactions. You will capable of opening a bank account after the registration process.

Here are some points that you should take care and always stay in mind while Company formation in Hong Kong.   We at Stephen M. S. Lai & Co. CPA Limited, offering this company formation procedure and make this process more simple and reliable.

Company Formation- Hong Kong

In the age of Globalization, Hong Kong is the perfect place to start a business. Over a past two decades, the majority of business investors start their business in both locally or internationally. The government of Hong Kong supports the foreign business investors to set up their business and provide 100% foreign ownership. Having low tax system, well-developed infrastructure, and business-friendly economy attracts them to form a business here. Hong Kong also has a perfect doorway to the Chinese markets; if the investors have a trading business then the Hong Kong is an ideal choice for them.  You need a government help for Hong Kong Company Formation. The entire process of company registration totally depends on your choice of a form of business which you are planning to do. There is no need to relocate in Hong Kong; if you have an internet business then you can open a virtual office. In other words, you can operate your business from any country across the world. You just need to appoint the Company Secretary who will take care of your each and every thing in Hong Kong.

Conditions to start a company in Hong Kong

•   A company must have minimum one director of any nationality over the age of 18 years.
• A company requires only one shareholder over the age of 18 years of age with no restriction in Nationality.
• There must be one resident Company Secretary. 
•  Director and shareholder can act as a same but can act as a Company Secretary.

Due to its stable economy and effective & low tax system, it is easy to form a company in Hong Kong. You have to pay tax once in a year. If the Company generate profit inside the country then the company is liable to pay 16.5% tax on that profit. If the Company generate profit outside the country then the company is liable to pay 0% tax on that profit. There is no sales tax, no withholding tax, no value added tax or any other tax. 

Do you want to know more about Hongkong Company Formation?  We will happy to help you with starting a company in Hong Kong.

Get Clear Tax Benefits by Forming a Company in Hong Kong

Business people know the burden of paying taxes. This eats up their profit and they all want some way to get around it. The easiest way is to set up an offshore company for your business. This will help you not only with the tax problem but also in many other ways. 

Start by sending your application form

All you must do is to consult a Hongkong company formation firm. They will guide you and tell you what to do. The first thing you do is to contact them straight or online and fill in their application form. They will ask for a flat fee and once this is paid your application will be processed. This will in some cases be done in a matter of hours.

You can start transacting your business by evening if you submit your form in the morning. You get plenty of support from their side and fees is reasonable. Depending on the package you opt for, you get a variety of services. In the most basic package you get electronic copies of the Business Certificate and the Certificate of Incorporation along with the Registration at Companies Registry. 

 Choose small or big packages

For those who want more, they can opt for a bigger package. The difference in cost between the packages is only a couple of hundred dollars but the benefits are immense. So, most of the people will opt for the bigger packages. The next bigger package will include Original Formation documents and provisions for appointment of Company Secretary and Registered Office Address. 

Now, for your Hongkong company formation you can choose a bigger package. This will include in addition to those already mentioned for the lower packages, the guaranteed bank opening arrangements. So, you need not worry about opening a bank account for your business venture. 

Advantages of the HK offshore company

The advantages in opening an offshore business venture is numerous. One is the savings in tax. Other than this you get asset protection which is immense if you have many assets. In addition, you can increase the asset protection by opening an offshore bank account as mentioned above. 

Registrars of the offshore companies do not divulge the secrets of the owners and administrators to anyone. The activities of the directors and the shareholders remains a secret. This makes many owners and administrators to use the company to hide their business activities. By keeping the affairs and the operations a secret the businesses get an advantage over the competition. This is vital if you want to make profits in your business. 

Hong Kong has a solid legal system with a good reputation. This enables you to get plenty of international credit. Being the hub of financial dealings, Hong Kong has multiple channels for financing. The foreign currencies can be converted easily without restrictions and they can be traded and transferred freely. You do not have any binding on the business scope making it possible to conduct any form of business freely and easily. The simplified taxation system and low tax rates help the companies operate easily.