Hong Kong Company formation and Registration
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Foreign investors in Hong Kong may incorporate the following legal entities:
- Companies. Private or public.
- Partnerships.
- Branches.
- Representative Office.
The procedure for registering a company in Hong Kong includes firstly getting approval of the company's suggested name by the registrar of companies.
It is also possible to check name availability by using the "Online company name search" in the registrar of companies.
The company name may be in English or in Chinese.
A name including a combination of English and Chinese letters is not allowed.
A company's name in English must have the ending "Limited".
After getting the approval the company has to file its memorandum, articles and other related documents.
Basics of Hong Kong's Limited Liability Companies.
- - One person is sufficient to form a company.
- The shareholders may be individuals or a limited company of any nationality.
- The liability of the owners of the company is limited to the sum of capital invested.
- There is no requirement for minimum or maximum share capital.The standard authorized capital is HK $ 10,000.
- Nominee shareholders are allowed in Hong Kong.
- Each company must appoint at least one director. The director can be a foreign resident too.
- A company can be appointed as a director too.
- A sole shareholder can be a director too.
- Each company must appoint a secretary, an individual or acompany. The secretary must be resident in Hong Kong.
- Each company must have a registered office in Hong Kong.
- Registration of a new company takes up to four working days. It is also possible to buy ready made (shelf) companies.
- There is an application fee of HK $ 1,720 for incorporating a new company and a fee of HK$ 1 for each HK$ 1,000 of the share capital.
Business Registration
Each business, including a representative office must register with the business registration office.The fee for a business certificate is HK $ 450.The registration fee is HK$ 2,000.
Registration has to be completed within one month from the date of starting the operation.
Business registration procedure takes up to two working days.
Opening a bank account in Hong Kong
The opening of a business bank account is done after completing the company's incorporation and business registration.In addition to presenting the company's documents to the bank, the bank will ask for disclosure of the beneficial owners of the company.
As a part of the money laundry precaution in the case of overseas signatories a notarized copy of the passport has to be submitted.
Banks generally ask for a minimum deposit of HK$ 2,000 in order to open a new bank account.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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