Establishing a Company in Hong Kong

Nowadays, unless you are planning to stay in Hong Kong, you can open a limited company, you can go to Hong Kong and open a company by yourself. However, the government requires your company to have an office and a secretary in Hong Kong.

The good news is that you don’t need to rent an office and hire a secretary. There are several agencies that will be happy to provide this service to you for a very less amount can be 5-6000 HKD per year. They can afford to keep the cost low because the same person can act as a secretary for a lot of companies. This is the same for an office. The office of a given agency may be the registered office address of many different companies.

Documents needed for Hong Kong company establishment and the procedures to open it:

First of all, you will need to pay the agency's fee and choose a name for your brand new company your agency will then check whether the name is available in Hong Kong or is already taken.

Then you will have to send a copy of your passport, a copy of an official document as a proof of your residence and a questionnaire within standard question such as your address, your passport number and the name of the director and shareholder (if you plan to open the company alone, you will be both director and unique shareholder) to Hong Kong.

For a simple company structure, which unless you have special requirements shall be enough your agency will set up your company via E registration, which takes less than 2 hours, to get the brand new company's certificate of incorporation and business registration certificate upon certified the relevant parties passport online for instance via Skype.

Fee Involved In Registering Business in Hong Kong

Business registration applies to every business in Hong Kong other than a corporation (for example sole proprietorship and partnership) must make their applications within one month of business commencement.

Hong Kong business registration fee involves all the cost of registering and maintaining a company:

Assuming that we decide to hire an agency and that we need a secretary and an office address during the first year we will need to pay for:

1- The incorporation documents and company kit (seal stamp and so on) about 2070 HKD

2- The company registration (government fee)1730 HKD

3- The business registration certificate (government fee) 2250 HKD

4- The provision for the company secretary 3500 HKD

5- The provision for the Registered office address: 2000 HKD

6- The assistance for opening your business bank account (you can actually open a bank account              on your own but it does take time and effort: 1000 HKD

Starting from the second year we need to pay for:

1- Business registration certificate ( government fee) 2250 HKD

2- Annual return ( government fee): 105 HKD

3- The provision for the company secretary 3500 HKD

4- The provision for the Registered office address: 2000 HKD

Improper registration for foreign enterprise in Hong Kong can lead to prosecution and fine.

Company Secretarial Services in Hong Kong

Why is company secretary so important?

To register a limited liability company in Hong Kong, a special administrative region of China, you are required to have a physical address, articles of association, company name, copies of directors and shareholders passport, a business structure, and a company secretary.

Notably, the company secretary remains the most notable because he/she is responsible for ensuring that the company is compliant with statutory and legal requirements as well as implementing board decisions.

Company secretarial services in Hong Kong is important because:

As an offshore company, the Hong Kong administration wants to make it easy to administrate and keep all the companies up to date on new developments. Many are the times when new legislation are passed to help businesses grow faster, anchor startups growth projectile and support innovations.

These decisions and many others by different arms of the Hong Kong administration are communicated through the company secretary.

Duties of a Hong Kong company secretary:

1-      He is the main link between company secretary services and registry office

2-       He prepares records, stores and reproduces all statutory records

3-      Arranges all boards and shareholders meetings

4-      Attends, takes and keeps minutes of boards and shareholders meetings

5-      Implements the board's resolutions arrived at during meetings

6-      Applies for the company business registration certificate

7-  Prepares and submits any legal requirements asked by any Hong Kong administrative arm of government

8-      Advices the company on any issue on legislation, bankruptcy and liquidation if the need arises

For more information you may visit our website:

www.offshoretaxconsultancy.com/company-secretarial-services-hong-kong