This page is a continuation of the previous article titled Hong Kong Company Registration Guide which provided a detailed overview of company formation Guice, formation procedure, and post-formation formalities for Hong Kong companies. What are the minimum statutory requirements for forming a company in Hong Kong? The following are the basic requirements for forming a company in Hong Kong:. A company may be registered with an English name, a Chinese name, or an English and a Chinese name. An English company name must end with the word "Limited" and a Chinese company name must end Next In Company In Korea the Chinese characters equivalent of the word "limited".
Are bearer shares allowed in Hong Kong? Hong Kong company formation law does not permit bearer shares. Do we need to be present in Hong Kong during company Klng process? No, you don't need to be physically present at the time of company incorporation. However, depending on the bank you choose, you may have to meet with the bankers personally in Hong Kong at the time of account opening.
Assuming you are a foreign national, the service provider you hire to incorporate your company will normally require the following documents from you:. Incorporation of companies is governed by the Companies Registry of Hong Kong.
However, the Hong Kong Company Incorporation Guide of the actual business activity could be subjected to control and regulation by other Government Kony and you may require a business license or permit before you can actually begin business activities.
Examples of some of the businesses that require a license to operate include: travel agencies, restaurants, employment agencies, fund managers, insurance brokers, lawyers, liquor distributors, moneylenders, banks and childcare centres etc. You can apply for a business license only after you have incorporated your Hong Kong company.
However, if you are located overseas, it may take longer owing to the logistics of signing and couriering the relevant company formation documents. If you are residing in Hong Kong, it is not mandatory to appoint a professional services firm to incorporate your Hong Kong company and you can choose to self-incorporate the company. However, given the complexities of incorporation procedures and ongoing statutory compliances, it is highly advisable to use the services of a professional services firm.
If you are a non-resident and wish to incorporate a company in Hong Kong, you are required to engage a professional firm to Hong Kong Company Incorporation Guide on your behalf. No, Hong Kong companies do not require a local shareholder or a director. However, you will likely need the services of a corporate services provider for the company's ongoing statutory compliance purposes. Your corporate service provider will normally act as your company secretary and registered address agent.
They will also handle the annual filing matters for your company as Delivery Company Auckland as can provide nominee director and nominee shareholder services if required.
Every Hong Kong incorporated company must have a registered office in Hong Kong from the date of its incorporation. This is the company's legal address for notices and proceedings and can be different from its business address. It is possible to use your Hong Kong based home address to conduct small scale businesses. Any major currency. Usually, the Hong Kong Dollar is the preferred currency of choice for convenience.
No, it does not. As per Hong Kong company incorporation laws, all directors are regarded as the same and are expected to fulfill their duties and responsibilities, fiduciary and otherwise.
Information Inclrporation company officers versus directors, shareholders and company secretary is public information as per Hong Kong company incorporation laws. It is mandatory to file details of the company officers with the Companies Registry when you incorporate a Hong Kong company. If you wish to maintain confidentiality you can appoint a nominee shareholder and nominee director from your corporate service provider.
Corporate director is restricted. It is required to have at least one individual director. Shareholders can either be natural persons or body corporates. Yes, a Hong Kong company can hire foreign employees to work in Hong Kong. The company must file an employment visa for each such employee and it must be approved by authorities. Note that the company must be incorporated first before an KKong visa application can be filed. Foreign entrepreneurs who wish to relocate to Hong Kong in order to operate their company are required to apply for a so called Investment Visa.
Applying for the Investment Visa is very similar to applying for the Employment Cokpany under the General Employability Policy, except that this visa is meant specifically for company owners. Note that you can apply for Investment Visa only after company formation. For further details, refer to Hong Kong Investment Visa guide. What is the permitted currency of Compzny capital for a Hong Kong company?
As per Hong Kong company formation laws, every company formed in Hong Kong, unless specifically exempted, must file its audited accounts with the Inland Revenue Department of Hong Kong along with its profits tax return on an annual basis. The auditor must be a member of the Hong Kong Society of Accountants and must hold a practicing certificate.
There is no requirement to file accounts with the Companies Registry. A private Guidw company as deemed dormant under the Companies Ordinance in Hong Kong is exempt from filing annual returns with the Companies Registry, holding AGMs, appointing auditors and preparing audited accounts.
However, it must file a profits tax return with the Inland Revenue Department. The following companies are exempt from submitting audited accounts together with their profits tax return:. A dormant limited company in Hong Kong is one that, in legal terms, has "no relevant accounting transactions" during a financial year. This does not include Comany transaction which arises from the payment of any fee which Xiamen Tea Import And Export Company company is required to pay by any Ordinance.
Under the Companies Ordinance, a Inncorporation may pass a special resolution authorizing its directors to make a statutory declaration that the company will become dormant and to deliver a copy of the statutory declaration Compamy the Registrar. The company shall be deemed a dormant Compaby effective the date of delivery. If the declaration specifies a later date for the company to become dormant, the company shall be deemed dormant as Kristen Bell Baby Company that later date specified.
Once the company has been registered with Company Registrar, you can proceed Incorporatioh opening the bank account. The time taken to open the bank account varies from bank to bank. Stamp Duty on share capital is also known as capital duty on share capital in many other countries. Stamp Duty on share capital in Hong Kong is as follows:. Note: There are Cimpany exemptions, to certain transfers in connection with a stock borrowing and lending arrangement.
It is possible to change the company name any time after its incorporation, by passing a special resolution. Once the new name is approved, a Incorporaiton of Change of Name will be issued. Generally, de-registering a company is relatively simple, inexpensive and a quicker procedure when compared to winding-up or liquidation. However, there are certain conditions that the company has to satisfy if it wants to be de-registered.
The process usually takes up to months, depending on the complexities involved. Winding up a company is a lengthy, expensive and time consuming procedure. If you are interested in setting up a Hong Kong company, Hawksford can help. Make incorporating and operating your business simple Discover Lakeland Roofing Company services today.
Discover Hawksford. Estimate your annual taxes See how Hong Kong stacks up against your home country. Tax Compay. Forming a company in Hong Kong. The following are the basic requirements for forming a company in Hong Kong: Any individual or business entity may incorporate a Hong Kong company Minimum one shareholder who can be a local or foreigner. A shareholder must be Guidee 18 years of age. Minimum one director who can be a local or a foreigner.
A director must be above 18 Hong Kong Company Incorporation Guide of age. The shareholder and the director can be the same person. There is no minimum share capital requirement. However, the general norm for is to have an authorized share capital of HKD 10, represented by 10, ordinary shares of HKD 1.
Must have a local registered address P. Box is not allowed Must have a company secretary. The Incorporatiin, if an individual, must ordinarily reside in Hong Kong; or if a body corporate, must have its registered office or a place of business in Hong Kong.
Sole shareholder and director cannot also act as company secretary. Millner Haufen Tool Company name approval is required prior to company registration.
The information required for a significant controller are: For a registrable person: name, correspondence address, identity card number if the person does not have an identity card, the number and issuing country of the passport ; For a registrable legal entity e. Assuming you are a foreign national, the service Yiwu Trading Company you hire to incorporate your company will normally require the following documents from you: Copy of your passport Family Beer Company of your residential address proof such as utility bill, cable bill, etc.
Completed incorporation details form listing information about the proposed company such as proposed company name, shareholders, directors, etc. Hong Kong Company Incorporation Guide private enterprises, the various common types of business entities are: Private limited company.
Shareholders and shareholdings in Hong Kong Company Incorporation Guide Hong Kong company. What is the minimum age requirement for directors and shareholders of a Hong Kong company?
The directors and shareholders of a Hong Kong company should be at least 18 years of age. Getting people in a new Hong Kong company. Can a Hong Kong company hire foreign employees? Filing of Hong Kong company accounts. Are Hong Kong companies required to file annual accounts? The following companies are exempt from submitting audited accounts together with their profits tax return: Small corporations defined as those corporations whose total gross income does not exceed HKDfor the basis period Dormant companies as per the Companies Ordinance definition defined as having "no relevant accounting transactions" during a financial year Companies incorporated in a jurisdiction whose laws do not require accounts to be audited Hong Kong branch of a foreign company, provided that the following information is supplied together with the return the place of incorporation of the foreign company whether the laws of that country require a statutory audit of the world-wide accounts of the company whether that audit has been conducted and a brief summary of the financial and accounting records maintained by the Hong Kong branch.
Hong Kong company financials and fees. How long does it take to open a corporate bank account in Hong Kong? Stamp Duty is payable on the transfer of shares as below.
Hong Kong Incorporation Entity Types ... For detailed information about setting up a private limited company, see Hong Kong Company Registration guide. Advantages: Separate Legal Entity: A private limited company has a legal identity of its own, distinct from its members. This enables the company to acquire assets, go into debt, enter into ...…
Complete Guide of Hong Kong Company Registration. Hong Kong, one of the important economic powerhouses in the world for Hong Kong company setup, attracts investors to do business in the country due to many reasons.…
This article provides detailed information about registering a private limited liability company in Hong Kong including basic incorporation requirements, procedure and timeline, post-incorporation procedures etc. Irrespective of whether you are a local or foreign entrepreneur, you are strongly advised to engage the services of a professional firm as such firms are well versed with the local ...…
Hong Kong Company Incorporation Guide (1) - Features of Hong Kong Company (Private Company Limited by Shares) 1. Features of Hong Kong Private Companies Limited by Shares Type of Company for International Trade and Investment. Private Company Limited by Shares (Limited Liability Company, Private Company, LLC). Restrictions on Trading…
Jul 24, 2019 · If it is a Hong Kong company it is much easier as it is Hong Kong company in a Hong Kong bank. The complex part is when you want to open bank accounts with non-Hong Kong Limited companies. But if you are opening a Hong Kong company without the original company documents, you will need to have these copies certified as authentic.…
Company formation in Hong Kong: our specialists can help you open a company in Hong Kong. We can also help you open an offshore company and we also offer other corporate services such as: virtual offices and shelf companies.…
Hong Kong Company Incorporation Services. Though incorporating a company in Hong Kong is an easy task, mainly due to the flexible incorporation process, it can still get a bit hectic. We can help you with company incorporation in Hong Kong and make the entire incorporation process a hassle-free task.…
Company Incorporation Singapore Vs. Hong Kong. Singapore and Hong Kong are renowned for easy and convenient company incorporation processes. On some of the aspects like Hong Kong Vs Singapore income tax rate, you will find that they are almost equally matched.…
Company Address: The incorporation requires a physical address as the registered address of the Hong Kong company. New Horizons offers a company address to use for our client’s registered company in Hong Kong. Share Capital: No minimum / maximum amount to be infused. Taxation: Income generated abroad is generally exempt from Hong Kong tax ...…
A Hong Kong Private Limited Company – or ‘private company limited by shares’ – is the most commonly used company type for small to medium-sized businesses or trading companies in Hong Kong. A Hong Kong private limited company is a separate legal entity and therefore protects the personal assets of shareholders from business liabilities.…