The Process of Setting Up A Hong Kong Company

November 30, 2020


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To start a Hong Kong Company, one must apply to the Companies House. The application process is simple, with the first step being to fill in an application form. An applicant will then be required to provide financial details and prove that he is a resident of the territory.
A person can establish a Hong Kong business by forming a Limited Liability Company, commonly known as a “Hongkong company formation“. There are several advantages to starting a company in Hong Kong.
Companies in Hong Kong usually do not require a director; all necessary information relating to the company will be submitted to the Companies House. When setting up a company, all documentation should be completed by you. However, you may need to submit your financial records to the Companies House before commencing business.
If you are establishing a limited liability company, the Business Registration Offices in Hong Kong will be able to guide you through the various options available to you. They can help you understand the process of forming a business in Hong Kong and give you valuable information about the companies you may wish to incorporate in the future.
There are two main types of Hong Kong Company formation: under the Companies Ordinance and the Business Registration Office system. In the Companies Ordinance, all of the paperwork required to set up a company will be submitted to the company’s local registrar in the name of the company. In contrast, in the system, a company will be registered with the business registration office, and the Companies Ordinance will take care of all other legal formalities.
If you are still unsure of which method to choose, it is a good idea to contact the Business Registration Office. They can provide you with valuable guidance, although they will advise you to hire a solicitor to handle the legal side of the process. They can also offer advice on how to set up the business in Hong Kong and help you get the correct business license.
If you are planning to set up a company formation in Hong Kong, it is essential to have all the necessary documents in order. You should have copies of all the relevant financial records relating to the business, including income statements, balance sheets, accounts payable, and accounts receivable, as well as a copy of your business register.
Once you have gathered all the documentation, you are ready to start the process of setting up your business. You will need to apply for a Business Number (BN) from the Companies House and register the company at the Business Registration Office.
If you already have a company registered in Hong Kong, you will also need to apply for the business to become active, which will mean you have to appoint directors. However, this process can take a few weeks, so if you do not have a director yet, or need to appoint a director, you should contact the Business Registration Office, and they will assist you.
Once you have appointed your directors, they should ensure that all their details are correct and accurate. The directors must also ensure that the business is up to date with their legal and financial records.
Once the company has been registered, all the paperwork is finished, you will then be able to open a business bank account for the business. This account will be used to store the company’s money and conduct all its transactions.
When you are finished, you will need to make sure that the bank account is credited with the funds from the business and you should then be ready to open a branch of the company. You will need to ensure that all employees are correctly paid, and this will need to be done every month until the business is formally incorporated in Hong Kong.

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