Why Everyone Should Consider Starting Their Business in Hong Kong

Hong Kong is certainly one of many places any individual would want to visit. And it’s not only tourism that attracts individuals nonetheless the positive financial climate is drawing in traders in more numbers than ever! Today, Hong Kong serves as a centre of worldwide business and many businesses are spreading their wings there.

Requirements to Set Up Company in Hk

  • An offshore company opened in Hong Kong ought to hire one or more directors but their number would possibly be limitless. It’s not obligatory for them to be Hong Kong residents.
  • Minimum one shareholder is required and most fifty. The shareholders would possibly be individuals or firms.
  • The business formed in Hong Kong ought to hire a close-by person or corporate resident as the company‚Äôs secretary.

How to Start Your Business in Hong Kong

The foreign investors have two choices in incorporating an offshore business in Hong Kong. They might register a new company or buy an already registered one.

The firms which are solely registered however do not have any liabilities or property are known as shelf companies and can be bought by buyers who have no time to wait till a new company is incorporated. After buying one, the buy will choose directors and secretary of the company, enhance the share capital and change the name and the registered address.

The investors who wish to register a business should know several things. First, their desired name ought to certainly be checked at the Corporations Registry. If it is not a duplicate or a similar with another one, it may be reserved.

From Then On, These Files Ought To Be Submitted To The Registry:

  • The registration form,
  • The Memorandum of Association and Articles of Incorporation,
  • The passport copy of the founders,
  • The banks reference letter for non-resident shareholders or administrators,
  • Copy of Hong Kong identification card for Hong Kong resident shareholders or directors and copy of mother company registration
  • Files (only for corporate shareholders).
  • After 14 days from registration, the offshore company established need to also give the following files:
  • Notification about the registered address,
  • The decision of appointing the director(s) and the secretary
  • Different files requested by the Business Registration office, with respect to the nature of the business.
  • A financial bank account needs to certainly be opened and in a month of the registration, the company ought to certainly be registered on the Income Branch.

Other Requirements for Operating a Small Business

Operating a trading company, a retail store, a travel company, a cafe, an employment agency, an education business, a bank, an event company are things to do that requires receiving a license, so it is vital to get to get that from competent authorities. The type and amount of required permits and licenses different vastly from business to business. We recommend taking help from a certified lawyer or business marketing consultant in Hong Kong for professional recommendation, which can undoubtedly help you to rest assured that you are to start your business in the authorized framework of the state.

As long as the above mentioned steps are completed, the foreign traders may start working doing business and enjoy the advantages of having to Set up Company in Hk up and working.

 

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