There are two ways in which a limited company formation in Hong-Kong is done. One can either buy a company that is already made or he/she can set up a new corporation.
In case you plan to set up a new business, you should specify the name and follow the registration process which is a bit strenuous.
If the company is ready-made, then you will be presented with a list of names so that you can choose your favorite name. Below are service packages that will be required:
- The search of the company name
- Incorporation Certificate which includes a government fee of HK$1,730
- License for business registration, which includes state fee of HK$250
- 20 Copies of Articles of Association
- A copy of Articles of Association in Chinese
- Share Certificate book
- Signature stamp that is authorized, common seal, and Company chop
- Green box that is imprinted with the name of the company
- Arrangement for opening bank account
If the company is ready-made, then it is notable that an additional documentation set, as well as transference of contract, will be included in the service package.
The package without the services of company secretarial and certified true copies can be obtained at HK$830. The minimum requirements include the following:
- A director
- A shareholder
- A company secretary
The time for processing is approximately two working days upon the confirmation that is already signed for a ready-made company. However, it is about ten working days if a company is all-new.
Unlimited Company Registration in Hong Kong
If you have a residence card for Hong Kong, you can form a sole proprietorship business even if you are not a citizen.
To form an unlimited Company, you can also partner with a Hong Kong resident and form a partnership of unlimited company. If you are planning to start up a business, this entity can be helpful because the cost of maintenance is low and the yearly fee for the government is also little while the liability is unlimited.
It means that your personal assets are not protected in case your company incurs debts. It is advisable that you look for professionals who can help you in the whole process.
Hong Kong Representative Office Registration
A foreign company establishes a representative office so that it can do business with the country that is selected. The office should not, however, be involved directly in the operational activities.
So that a business can test the environment in Hong Kong, the first thing which should be done is to set up a representative office before incorporating a limited company.