subject: Hong Kong Company Registration Guide 2011 [print this page] Hong Kong Company Registration is the First Step for Enterprise"s Globalization. As we know Hong Kong is an international metropolis with abundant information and opportunities. The superior geographical location as well as the various cultural integration from unique historical environmental legacy, makes Hong Kong as a mastery of an international metropolis. Hong Kong plays an indispensable role in the world's financial, culture, economic and trade. The Hong Kong's commercial position in particular, is unmatchable for any other cities in this world.
Meanwhile, a properly structured Hong Kong company is a tax-efficient corporate structure in a market globally respected as a leading business hub. Due to this, Hong Kong has become the first choice for multinational business of global entrepreneurs and investors. More and more people establish their own companies in Hong Kong with different purposes, which improve not only the image of the company itself, but also the competitive ability in the international market.
Here in this article we provide detailed guide on how to register Hong Kong Company, 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 legislations governing companies and are also experienced in handling ongoing regulatory and compliance requirements.
A quick view of requirements for registering a Hong Kong company:
100% foreign ownershipYesHong Kong resident company secretaryYes
Minimum directors1Hong Kong registered office addressYes
Corporate directors allowed1Director/Shareholder/Sec. details open to publicYes
Minimum shareholders1Annual audit requiredYes
Hong Kong resident directorNoAnnual return requiredYes
Normal authorized share capitalHK$10,000Repatriation of profits allowedYes
We suggest you hire a professional service firm which is very important as the relationship is a long-term and ongoing one. The professional services firm you have engaged for your company formation will normally take care of all the necessary formalities from the beginning to the end. So you can totally rest assure of the whole process of registering Hong Kong company. Before you carry out the Hong Kong company registration you need to know the following guideline, so you can accelerate the process to prepare it.
1.Directors, Corporate Shareholders and Legal Secretary
At least one directorone shareholder, and one secretary are required for a Hong Kong limited company. A natural person aged above 18 years old is eligible for a shareholder and director or both. Shareholder could also be acted by a legal person, as far as corporate structure is concerned. In Hong Kong a statutory secretary should be acted by a Hong Kong natural or legal person for and on behalf of the company to ensure compliance with ongoing legal returns, accounts, audit and other requirements. Details of the company's directors, shareholders and secretary must be filed at the Companies Registry for public search.
2.Company Name
The company name must be approved before you can proceed with the incorporation of a Hong Kong company. In Hong Kong, a trade name is much easier to define as long as you do not infringe the trademark of other companies. The name of a limited company should be ended with "limited". You can have an English company name or a Chinese company name or both. If you like, you can add a country name or city's name in front of or inside the company name, such as: France, USA, Italy, Japan, London, Beijing, Shenzhen, Shanghai and so on.
3.Share Capital
There are two types of share capital for Hong Kong companies "" authorized capital and issued / paid-up capital. The registered capital for a Hong Kong limited company could be as low as HKD 10,000.00 while the paid-up capital could be as low as HKD1.00, The investors can decide on the size of the registered capital while the capital duty should be levied at the rate of 0.1% by the government based on the size of the registered capital. If you want to use this company to invest in China, you"d better raise your registered capital as high as RMB one million so as to reach the criteria required by the Chinese government.
4.Processing Steps of application:
After the company has been approved, you can fill out an application forms to Companies Registry, submit Payment, to sign statutory documents personally, forward the documents to the Hong Kong relevant government departments immediately, finish within 7-15 working days and then Collect the documents at the designated office within three months.
5.Post Registration Formalities
There are a number of other formalities that need to be taken care of once the company has been registered. These include:
1)Required documents for Company Registrar
The following documents/notifications must be filed with the Companies Registry within 14 days of the incorporation.
1.Notification of Appointment of First Directors and Secretary
2.Notice of Consent to Act as Director
3.Notification of Situation of Registered Address
4.Other documents as required by the Companies Registry
2)Bank Account Opening
When you have registered your company with the Companies Registry, you can proceed to open a corporate bank account with any of the major banks in Hong Kong. For the bank account opening you might need business plan and address proves (electricity and phone bills in the latest three month) for bank reference.
3)Annual Return
Each year the company must submit an annual return to the Hong Kong Companies Registry and the Hong Kong Inland Revenue. To register your business with the Inland Revenue Department's Business Registration Office is mandatory for all Hong Kong limited liability companies and to obtain a Business Registration Certificate. The business registration number that appears on the Business Registration Certificate is also the respective company's profits tax (corporate tax) file number.
After receiving the application, Business Registration Certificate will be issued on the next working day and must be collected in person. The Business Registration Certificate must be displayed on the office premises at all times.
4)Apply for Business Licence
When you have registered your company with the Companies Registry and Inland Revenue Department, depending on the nature of your proposed business activities, you may require a business licence before you can actually start your business activities. Fortunately, most of the business activities do not require any special license.
5)If you need more information on Hong Kong company registrationor others like Hong Kong Taxation, Bank Account Opening and Trademark Registration , you can refer to Conpak CPA Limited http://www.conpak.com , we will provide the detail information and professional service for you.
