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Hong Kong Business Startup

Updated:2018-3-19 16:54:56    Source:www.tannet-group.comViews:1468

Hong Kong business startup is also called Hong Kong business setup or Hong Kong corporate formation. Hong Kong, along with Singapore, is the most liberal economy in the world. Therefore, opening a limited company is simple, fast and cheap. You don't even need to live there, as you can hire a secretary and get a registered office address. Hong Kong is a major banking center and, once you have incorporated your company there, you’ll be entitled to open a multi-currency business bank account at a bank recognized worldwide such as HSBC or Hang Seng Bank.

I. Taxation in Hong Kong
Hong Kong has a straightforward tax system: your company will pay 16.5% of taxes on any profit generated in Hong Kong and nothing otherwise (as long as you apply for off-shore status). But you should notice that this doesn’t mean you won’t pay any taxes as a private person.

II. Hong Kong Business Srartup Procedures
For a simple company structure, which unless you have special requirements shall be enough, your agency will setup your company via E-registration, which takes less than two hours, to get the brand new company’s certificate of incorporation and business registration certificate upon certified the relevant parties’ passport online.

Step 1: you’ll need to pay the agency’s fee and choose a name for your brand new company. Your agency will then check whether the name is available in Hong Kong or is already taken.

Step 2 : you’ll have to send a copy of your passport, a copy of an official document as a proof of your residence and a questionnaire with standard questions such as your address, your passport number and the name of the director and shareholders to Hong Kong.

Step 3: in the case your proposed company has few layers, you will receive a set of pre-sign documents (the NNC1 Form – Incorporation Form – and the Articles of Association) for the director and shareholder signature and you’re required to return the original documents to your agency by international courier.

III. Open a multi-currencies business bank account in Hong Kong
All Hong Kong banks must follow certain regulations in line with the international standards of risk management. Therefore, before accepting you as a customer, every bank has the obligation to collect certain documents in order to comply with anti-money laundering laws.

In order to open the bank account, remember to bring your passport and 10,000 HKD cash, which must be deposited into your company bank account on the same day you opened the account. If you’re located in a Chinese designated coast cities, such as Guangzhou, Shenzhen, Beijing, Shanghai or others, you can open the bank account in designated banks without traveling to Hong Kong.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020,Dongmen Rd South, Luohu , Shenzhen, China.

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