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Hong Kong Company Setup

Updated:2018-7-12 17:00:59    Source:www.tannet-group.comViews:1070

Hong Kong company setup is also known as HK corporate formation or business registration in Hong Kong. A private limited company is the most commonly-used legal entity in Hong Kong that is separate and distinct from the individuals who run it. Tannet is glad to help you register a private limited company in Hong Kong. And we can also provide various business followup services, like accounting, tax filing, annual return, etc. Below is a brief introduction of the private limited company. 

I. Overview of a Hong Kong Private Limited Company
Hong Kong Private Limited Company formation is the most popular form of incorporation in Hong Kong. This type of company is an appropriate vehicle for a business that desires to limit its liability, seek solely private funding, and produce financial returns for its shareholders.

Hong Kong is the absolute best option out there for a multi-currency corporate account, with internet banking at one of the largest banks in the world, in one of the world’s premier and largest offshore banking jurisdictions. Only Hong Kong Private Limited Companies are eligible.

II. Setup Requirement
Setting up a company in Hong Kong is fast and easy. There are no restrictions on the use of foreigners as shareholders or directors at a Hong Kong company. The only thing you have to accomplish is having your company name approved.

(1) Company Name. Same company name is prohibited according to Hong Kong Company Registry;either an English name or Chinese name; or both English and Chinese name.
(2) Shareholders and Directors.No nationality restriction. Individual and/or Corporate shareholder is acceptable; corporate director is acceptable but at least one natural person as director.
(3) Company Secretary and Registered Address. Comply with Hong Kong Companies Ordinance, appointment of Company Secretary and Registered Address is required.
(4) Capital Requirement.Minimum subscribed share capital is 1 share (equivalent to HKD1); No par-value for shares.

III. Setup Procedures
The process of setting up a Hong Kong company is pretty straight forward. 

Firstly, you need to decide whether you are going to buy a company that’s already been registered or apply to open a company in your desired name. There’s no difference in costs, although a ready made company is a couple of weeks faster to set up.

When applying to open up a Hong Kong company, you’ll need to provide the following details for each director: name, passport details, nationality, residential address, and if shareholder; the percentage of shares.

As for bank accounts, HSBC seems to be the norm, however you are also able to open an account with China Bank, DBS and a few others.

IV. Features of Company Setup in Hong Kong
(1) Prime location at the geographical of China;
(2) CEPA and lower withholding tax for dividend and royalty in china;
(3) Convenience internet banking system;
(4) No foreign exchange control;
(5) No restriction on business scope;
(6) World-class infrastructure and good supply of high quality manpower;
(7) Simple tax system, no VAT, capital gain tax and withholding tax.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. 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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