Any person Above age 18 can register a business in Hong Kong. And many small business owners can attest that doing this offers many benefits. This little island has the sort of environment which makes businesses flourish. Despite its size, it has a broad pool of local and overseas talents, based legal system, easy taxation laws, and terrific infrastructure.
A Look at Hong Kong Company Registration Procedure
The Registration procedure entails two-overlap technique, including company name approval and the application for business registration.
Company Name Approval
Before Applying for business registration, your proposed business name ought to be approved first. Here are the basic name tips:
- The title can be in English, Chinese, or you may suggest both an English and Chinese name for your business; but it should not have united English word/letter and Chinese characters.
- If You are Going to propose a Chinese title, it ought to observe the standard New Sai Ming text style, which are traditional Chinese characters also utilized from the ISO 10646 international coding standard.
- The English name must end with the word limited. For Chinese titles, it has to possess the identical Chinese characters.
Reasons for Dismissal will probably fall in the following conditions:
- The name infringes on other trademarks.
- The title is already listed in the Index of Business Names.
- The title is contrary to public Curiosity or considered offensive.
- Words, for example Bureau, Trust, or Cooperative, to name a few, would need to be accepted further by the Chief Executive because names with these words may contravene different legislations.
Application for Hong Kong Company Registration
When the Name is approved the procedure to submit an application for business registration can now start HKCORE. To do this, the following documents have to be presented:
- Incorporation Form – should include The approved name; short details of company’s business activities; accountability and rights of members; registered address, particulars of directors, legal secretary, and shareholders; and share capital.
- Copy of passport, foreign address, And affirmation for foreign shareholders and directors; or ID card for sailors.
- Certificate of Incorporation of Parent Company – in the event of corporate managers and shareholders.
When these Documents are finished, Hong Kong company registry requires a registration fee in addition to a minimal capital expenditure foreign company registration in hong kong, which is HKD 1.00 for each 1,000 shares. The capital expenditure is near HKD 30,000 for each instance. The program is normally processed within ten days or thereabouts. After the registration has been accepted, the authorized agent (as recorded in the Incorporation Form) should collect the Certificate of Incorporation in the registry personally. In case when the authorized person cannot personally collect the certification, a written authorization will suffice to appoint a representative to collect it rather.