How to register a company in Hong Kong in 2019

How to register a company in Hong Kong in 2019

Hong Kong is considered a jurisdiction that belongs to the leading development of business and banking. The opening of a company in this area has many advantages - the jurisdiction is respectable, not corrupted, the registration of a company is possible for both residents and non-residents. There is a possibility of entering the world market.

Types of OPF for companies in Hong Kong and taxation

In total there are three main forms of companies that can be opened in this jurisdiction. The most common option is LLC, registration is especially important for non-residents, since officially the company has the same capabilities as resident firms, including a free trade agreement with China.

If the company’s business has already been registered elsewhere, you can open a branch, but there are some restrictions on opening - you need a residency. Most of all restrictions arise when opening a representative office - they have no right to engage in commercial activities, that is, there is no possibility of manufacturing and selling products in Hong Kong.

It is required to consider the amount of tax charges. The collection of profits is 16.5%, income - 2-17%, for real estate - 15%. If the business is conducted not in the territory of the jurisdiction, then reporting will still be necessary, but taxes will not be required.

How to register

According to the laws of jurisdiction, a person who submitted an application for registering a company will be considered a person who has poisoned a business registration application. After registration is completed, a certificate of registration and a certificate are issued by the relevant authority. If you have any questions regarding registration, please contact our IT-OFFSHORE specialists.

Stages of registration:
• Choice of name for the organization. The name must be unique, it may be written in English or Chinese. In order to gain customer confidence, it is recommended that the name be compiled so that it matches the site name.
• Establishing the address of the organization. The requirement for a real address is mandatory.
• Appointment secretary. It is required to appoint a person who should monitor the company's compliance with local laws, prepare reports. Secretary can only be a resident of Hong Kong.
In addition, it is required to prepare documents for registration. For each shareholder, as well as a director, you need to collect certified copies of your passport, proof of residential address, personal information, contact numbers.

Choosing a bank to create an account

Most often, citizens of Russia opened accounts in banks of the Baltic countries, as well as Cyprus and Austrian financial institutions. Now, many companies choose to open an account such jurisdictions as Hong Kong and Singapore.

In these jurisdictions, you can open accounts in the world's largest banks. The main advantages of opening an account in these financial institutions are:
• Lack of exchange controls;
• Ability to open a multi-currency account;
• Low maintenance rates.

However, opening an account in a Hong Kong bank is quite difficult for citizens of CIS countries. Many banks refuse to open if the company does not have a beneficiary who is a resident of the district, if there is no legal address, etc.

The choice of a bank depends on the needs of the business, however, you should first determine the purpose of opening an account, get acquainted with the list of services provided and service rates, take into account the location of the banking organization.

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