Company registration in Hong Kong 2022
Registering a company in Hong Kong 2022 has many advantages. The country is a stable political and financial center. It ranks at the top of various lists for ease of doing business, and a company can be opened in 2 weeks after submitting all paperwork to the Companies Registry of Hong Kong. The strategic location makes it easy to enter the international market, making the most of low taxes and developed infrastructure.
How to Register a Business
The business registration application must be submitted within one month of starting a business in Hong Kong. First, you need to choose the type of business. For example, it can be a private or a public company, a branch of an international enterprise, a representative office, or a partnership. Hong Kong residents can also register a business as a sole proprietorship.
Then you have to choose the form of the company:
- A private company limited by shares is the most common option. It is allowed to have from 1 to 50 shareholders. There is no minimum registered capital, and both shareholders and directors can be located abroad.
- Private company limited by guarantee. This company type has no shareholders, and the organization itself is usually established for nonprofit and charitable purposes. The liability of members depends on the amount of contribution.
- Public company limited by guarantee. It is suitable for large businesses with more than 50 shareholders. Such a company can be listed on the stock exchange and has to meet strict legal requirements.
The next step is to choose a unique name and register it at the Registry of Companies. It must not duplicate the name of other organizations and must not violate intellectual property rights. Therefore, it is necessary to check the uniqueness of the name in a special list of company names before applying to the registrar.
You need to pay attention to the structure of the company before registration. Thus, a private company limited by shares in Hong Kong must have:
- At least one director. It can be a natural or legal person who doesn't have to be located in Hong Kong.
- At least one shareholder can be a director who does not have to live in Hong Kong.
- Secretary must be a resident of Hong Kong. This person is responsible for the debts and liabilities of the company.
To open a business in Hong Kong in 2022 as quickly as possible, it is necessary to submit the entire package of documents at once. This includes the following:
- Documents that confirm the identity of directors and shareholders (passports, residence information, etc.).
- A copy of the Charter.
- Information about charter capital and number of shares.
- The terms of the powers of the directors and the process of their appointment.
- Procedure for appointment and dismissal of the secretary.
- Rules for payment of dividends.
- Rules of shareholders meetings.
Registration of a company in Hong Kong
When the documentation is prepared, it is necessary to apply to the Registrar of Companies. This can be done through the electronic registry, or in hard copy through a proxy.
If the application is approved, the company will receive a certificate of business registration. Depending on the form of the application, it will be issued in hard copy (within 4 days) or electronically (within one hour), and it will have the same legal effect.
After registering, you may need to obtain a license, permit, or certificate, if the type of your business requires it according to the legislation. You will also need to open a bank account.
How to open a business in Hong Kong
To set up a company in Hong Kong quickly and easily, contact IT-OFFSHORE experts.