Hong Kong Company Registration | Company formation in Hong Kong

Company formation service in Hong Kong

Name

Verify the availability of your Company name in Company Registry of Hong Kong

Free of Charge

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If company name proposed by you has previously been registered with the Hong Kong Company Registry, your application for company formation under such a name will be rejected and the state duty of 1970 HK$ will not be refunded.

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That is why running a Hong Kong company name check regarding the availability of the name that you would like to choose for your Hong Kong company is a necessary step to avoid the unpleasant experience during the registration process.

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Hong Kong company name check before the registration process allows you to save time, money and good mood when starting business in Hong Kong. In addition, it will give you some information to consider your branding strategy. For an example, if a name of a legal entity is already being used by somebody in Hong Kong, this means that the relevant brand name may also be occupied for registration as a trademark.

Check your prospective Hong Kong company name

BENEFITS

Key Benefits of Doing Business in Hong Kong

Hong Kong is built for global business

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For the past two decades, Hong Kong’s economy has topped the list of the most open economies. A minimum of restrictions and bureaucracy, an independent judiciary, protection of intellectual property – all this makes Hong Kong an excellent place for entrepreneurs all over the world to register a company.

Comfortable tax system

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Hong Kong has a territorial taxation principle. Entrepreneurs pay tax only on profits earned in Hong Kong. Profits earned outside Hong Kong are not taxed. Registering a company in Hong Kong will give you all the benefits of a tax-friendly environment combined with an excellent international reputation.

No taxes on dividends

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Incoming and outcoming dividends of a Hong Kong company are tax-free. Therefore, the company can receive and pay dividends to shareholders and investors without additional costs.

No VAT and sales tax

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The Hong Kong tax system does not provide for VAT and sales tax. You do not have to increase the cost of goods or services by the amount of additional tax interest. Therefore, by opening a business in Hong Kong, you will gain a competitive advantage over firms registered in countries where VAT is included in the price of goods or services.

No capital gains tax

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There is no capital gains tax in Hong Kong. Therefore, you will not pay any income tax, or tax on interest income from bank deposits, or on dividends from companies in any country in the world.

Fast registration and minimum authorized capital of the company

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You can register a company in Hong Kong in just one day and with a minimum registered capital of one Hong Kong dollar.

Lack of exchange controls

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The Hong Kong dollar is a freely convertible currency. Hong Kong law does not impose any restrictions on foreign exchange transactions. Register a company in Hong Kong and work with pleasure and without unnecessary bureaucracy – in any country and with any world currency.

Communication in English in business and everyday life

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English is one of the two official languages ​​of Hong Kong. It is widely used in business and everyday life. All documents and laws are published also in English. This simplifies business processes for citizens from other countries.  It is possible to register a company in Hong Kong totally in English.

Developed infrastructure for business and life

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Hong Kong is one of the most modern cities in the world with a well-developed business infrastructure (transport, telecommunications, IT, utilities). Hong Kong has a world-class international airport, cargo airport and container port. This makes logistics convenient and Hong Kong itself an attractive location for international business. That is why buying a company in Hong Kong is not only profitable, but also convenient.

Gateway to China

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Hong Kong is the ideal place to do business with mainland China. Thanks to the Economic Partnership Agreement (CEPA), Hong Kong companies have additional benefits. If you are planning a business with Chinese partners, then registering a company in Hong Kong will be the best option. In addition, Hong Kong’s location provides easy access to the Indian and Australian consumer markets.

Minimal requirements

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One director and one shareholder are enough to open a company in Hong Kong. None of them is required to be a resident of Hong Kong, and they don’t even have to visit the country to open a company in Hong Hong.

No office requirements

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A legal address is sufficient to open a company in Hong Kong. Legal address is usually provided by the registered agent. You do not need to have a physical office in Hong Kong. In addition, you can always hold a meeting in our office if required.

Permit for foreign investment

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Companies in Hong Kong are allowed to invest in any industry without government restrictions and regardless of the nationality of the shareholders.

34 agreements for the avoidance of double taxation

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Hong Kong has 34 double tax treaties. This gives the owner of the Hong Kong firm wide opportunities to reduce taxes on payments from abroad.

Reliable banking system

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The banking system of Hong Kong is recognized as one of the most reliable and stable. By registering a company in Hong Kong, you get the opportunity to open an account in this country with the world’s best banking service.

Hong Kong company incorporation & registration fee table

Final prices – no hidden fees

Select the package that meets your requirements

Government charge:
Government and processing fees – 270 €

Frequently asked questions regarding incorporation and maintenance of companies in Hong Kong.

A Brief History of Hong Kong

As part of the principle of “One country, two systems” on July 1, 1997, Hong Kong became a special region of the People’s Republic of China. This gave the opportunity to become autonomous, including retaining the capitalist structure. Hong Kong is renowned for its independent judiciary, rule of law, free trade, and freedom of speech.

Hong Kong was created when the Qing Dynasty government was defeated in the First Opium War in 1842 and the island ceded to Britain. For 60 years, Kowloon, New Territories and 235 Outlying Islands were leased by Britain. From the very beginning of this period, Hong Kong became the center of international trade. At the beginning of the 20th century, refugees from China began to arrive here, which led to an increase in the population. Hong Kong has developed into a major manufacturing center.

In recent decades, as China’s economy has become more open, Hong Kong is the gateway to the largest market for goods and services on the planet.

How long does it take to register company in Hong Kong?

Formation of a company in Hong Kong usually takes from 1 to 10 days, depending on the selected package of services and from the moment all the necessary documents are provided to us.

What documents are required to register a company in Hong Kong?

To register a Hong Kong company, the following documents are required:

  • High-quality scanned copies (not photos) of valid passports of the director and shareholder. The best option is a notarized or apostilled copy of your passport.
  • Copies of documents confirming the addresses of the directors and shareholders. This can be a receipt for utilities, driving licence, a bank statement, where the surname, name of the person and his residence address are indicated. It is important that the document is no older than three months.
  • Reliably and fully completed questionnaires (we will provide the forms).
Points to Consider When Choosing a Hong Kong Company Name
  • A Hong Kong company may be named in English or Chinese, or both. A name with a combination of English letters and Chinese characters is not allowed.
  • If the name matches the existing name of another company registered in the registry, then it will be rejected. In addition, the new name must comply with the requirements of the company law.
  • The Chinese company name must be written in traditional Chinese characters, which can be found in the Kang Xi dictionary (康 熙 字典) or in the Ci Hai dictionary (辭海 字典) and in the international coding standard ISO 10646. On registration certificates, the name will be printed in New Sai Ming font (新 細 明 體).
  • Hong Kong company names that contain the words and combinations “trust,” “chamber of commerce,” and the like specified in Part 662A of “Words and Expressions in Company Names” must be duly agreed upon prior to state registration.
  • Names that were previously used in Hong Kong also require prior approval. Therefore, it is important to check the availability of the name before registering.
  • You should consider your company name beforehand. If, when considering the proposed name, the registrar determines that it is too similar to the already existing one, then it will reject it.
  • Creating a unique name is in your best interest. Use a company name that is not associated with any trademark or other name. Check the proposed variant in the Trademark Registry (http://ipsearch.ipd.gov.hk) maintained by the Intellectual Property Department. This procedure will not only reduce the chances of registrar rejection of the name, but will also help reduce the risk of being sued for trademark infringement. It is not included in the standard list of services during registration and is paid separately.
Application for business registration

In general, an application for business registration must be made within 1 month of the commencement of business. The application must be made in a prescribed form [Form 1(a), 1(b), 1(c) or 1(d)] and accompanied by the required supporting documents and full payment of the appropriate business registration fee and levy1 . Any person who applies for incorporation of a local company or registration of a non-Hong Kong company under the Companies Ordinance is deemed to have made a simultaneous application for business registration. The Notice to Business Registration Office (i.e. IRBR1 and IRBR2 for local and non-Hong Kong companies respectively) must be delivered together with the prescribed business registration fee and levy at the time when an application for incorporation of a local company or registration of a non-Hong Kong company is made with the Companies Registry.

How long does it take to apostill documents in Hong Kong?

To apostilize corporate documents of a company registered in Hong Kong, you must first certify them in the Registrar of Companies of Hong Kong, and Business Registration Certificate in Business Registrar Office of Hong Kong. After that, the documents are sent to the Hong Kong High Court for apostilization. The whole procedure takes about 10 business days.

Do I need to verify the name before starting company registration in Hong Kong?

The name of the company should be checked before you start registering it. The verification will help to avoid repayment of the fee if the first application is rejected because a company with a similar name has already been registered in Hong Kong.

Hong Kong Business Registration Application

The deadline for submitting an application for registration of a business is 1 month from the start of business. The application must be submitted in the prescribed form, together with supporting documents and full payment of the relevant registration fees. Any person who has applied for the registration of a company (local or foreign) under the Companies Law is considered to have simultaneously applied for the registration of a business. The notice to the business registration office must be delivered along with the prescribed registration fee and business registration fee at the time of filing the application for company registration.

How long does it take to apostille documents in Hong Kong?

To apostille documents of a company registered in Hong Kong, you first need to have them certified by the Hong Kong Registry of Companies and the Hong Kong Business Registration Office (or by a notary). After that, the documents are sent to the Supreme Court of Hong Kong for an apostille. The whole procedure takes about 7-10 business days.

Do I need to come to Hong Kong to register a company?

A visit to Hong Kong to register a company is not required, the whole procedure is carried out remotely.

Who can be the founder and director of a Hong Kong company?

The founder and director of a Hong Kong company can be an individual of any nationality at least 18 years old (or a legal entity). The exception is citizens of countries subject to UN sanctions. A private limited company can have from 1 to 50 shareholders. The director and shareholder can be the same person. In addition, nominee shareholders and directors can be appointed.

Do I need to pay a salary to a foreign director of a Hong Kong company and make social security contributions?

There is no such need. This is due to the fact that a foreign director is employed in the company not in accordance with the labor legislation of Hong Kong, but under an agreement on the provision of services or without an agreement at all – according to some other rules and agreements between the shareholder and the director.

This is permitted by the laws of Hong Kong and is intended to develop the country’s corporate services market.

Important: These rules apply to directors who do not live in Hong Kong.

I would like the public register not to mention my details as a shareholder and director of the company. Is it possible?

You can use the nominee service. In this case, your data will not be entered in the Hong Kong Registry of Companies. In addition, the average person will not be able to easily access the Hong Kong company register.

To view information from the register, you must register and pay for the service. Only then will you be able to view information about companies in Hong Kong.

According to Hong Kong law, when registering a company, its beneficial owners or controlling persons must be established. This is a person or several persons who directly or indirectly own a legal entity or significantly influence its decision-making. The beneficial owner may not be reflected in the constituent documents of the legal entity, but at the same time he will be the actual owner of all assets and profits.

Information about the controlling persons is contained in a special register at the secretary company at the legal address. Beneficiary registers are kept confidential and are only accessible to government representatives in Hong Kong.

Who is the company secretary in Hong Kong?

A limited liability company incorporated in Hong Kong under the Hong Kong Companies Act (Cap 662) is required to appoint a secretary. A secretary is a company (or individual) licensed under the laws of Hong Kong. It helps your company comply with all local legal requirements.

To provide such a service, a secretary must meet certain criteria, have a Hong Kong office and trained staff, and obtain a license from the Hong Kong Registrar of Companies.

What are the duties of the secretary:

  • communication with all Hong Kong authorities;
  • preparation and submission of the annual report to the register of companies in Hong Kong;
  • preparation and fixing of decisions and protocols;
  •  payment of fees and duties;
  • maintenance of the register of beneficiaries and communication of the authorized representative with the Hong Kong authorities;
  • monitoring and ensuring compliance with government regulations and legal requirements, especially those related to the Companies Law and tax laws.
Requirements for a legal address in Hong Kong

A registered office in Hong Kong is a mandatory requirement under the Hong Kong Companies Act. It is not necessary to use a separate office as the legal address of the company. You can register a company at the address of your secretary.

We will provide you with a legal address in the heart of Hong Kong at an affordable price as part of our service packages.

What are the requirements for the authorized capital of companies in Hong Kong?

The Hong Kong Companies Law does not provide for restrictions either in terms of the size of the share capital or in the choice of currency. The size and currency of the authorized capital are determined by the decision of the founder.

It is generally accepted practice to register a company with a registered capital of HK $ 1,000 to HK $ 10,000 (for unregulated activities). This simplifies the distribution of profits to shareholders.

You don’t have to pay for the authorized capital. The authorized capital can always be increased.

Company registration procedure in Hong Kong
  1. Placing an order for the registration of a Hong Kong company.
  2. Choosing a company name.
  3. Checking the availability of the name. It must be unique, that is, not used by a company existing or pre-existing in Hong Kong.
  4. Preparation of corporate documents: articles of association, decisions and NNC1 forms.
  5. Certification of copies of documents proving the identity of the director and shareholder, if the company is registered remotely, without visiting the company registration authority in Hong Kong.
  6. Submission of documents to the register of companies.
  7. Payment of company registration fees to the registration authority.
  8. Payment of fees for registering a business with the tax authority.
  9. Certification or apostille of documents.
  10. Preparation of solutions.
  11. Making a seal.
  12. Storage of documents at the legal address.
What taxes does a Hong Kong company pay?
  • In Hong Kong, there is a territorial principle of taxation: only income that is directly sourced in Hong Kong is subject to tax.
  • Profits earned outside Hong Kong are not subject to income tax.
  • Annual profits of up to HK $ 2 million from a source in Hong Kong are taxed at 8.25%.
  • The company’s annual profits in excess of HK $ 2 million from a source in Hong Kong are taxed at a rate of 16.5%.
  • To avoid abuse of the two-tier tax system, groups of companies may apply the first tier of taxation from a Hong Kong source to only one legal entity. Other legal entities of the group will be taxed at the standard rate of 16.5%.
  • There is no capital gains tax.
  • There is no withholding tax on dividend payments.
  • There is no withholding tax on interest payments.
  • There is no surtax.
  • There is no VAT.
  • There is no sales tax.
  • There is no tax on technical service fees paid by a Hong Kong company to a resident or non-resident.
  • There is no tax on transferring funds to branches.
What are the annual maintenance costs for a Hong Kong company?

The cost of maintaining a company registered in Hong Kong usually consists of the following components:

  • Payment for the services of the secretary.
  • Payment of legal address and mailing address to receive notifications from the government.
  • Completion and submission of the Annual return for the register of companies in Hong Kong.
  • Payment of the annual government fee to the Hong Kong registration authority.
  • Payment of the annual business registration fee to the Hong Kong tax authority.
  • Updating the register of the company’s beneficiaries and other information in the company’s client dossier.
  • Accounting
  • Audit.
  • Calculation of taxes or preparation of a notice of tax exemption.
  • Filling in and filing a tax return.
Is it possible to purchase a ready-made company?

Yes, you can buy a shelf company in Hong Kong. They are usually provided with a nominee director and shareholder. In this case, the re-registration is very fast, since there is no need to make changes to the register of companies in Hong Kong. In order to change the owner of the company, a new trust declaration is signed and a general power of attorney is issued for a new authorized person.

If you need to physically change the director and shareholder in the register, then it is easier to open a new company than to buy a ready-made company and make these changes. However, if you are buying a working business in Hong Kong, this option may be relevant.

When should you appoint an auditor for a Hong Kong company?

The auditor of the Hong Kong company is appointed within 18 months from the date of incorporation. This is done prior to the first annual meeting, as the audited financial statements of the company must be presented there. Starting from the second year, the auditor is appointed annually.

Companies Registry / Business Registration Office / Trade Marks Registry
  • The Hong Kong company registration authority enforces the Companies Act. It is responsible for the registration of local limited liability companies and the registration of foreign companies operating in its territory.
  • The Inland Revenue Department’s Business Registration Bureau monitors compliance with the relevant law. The Bureau is responsible for registering a business carried out by an individual, partnership, local private limited company or non-Hong Kong company.
  • The Trademark Registration Authority under the Intellectual Property Department provides trademark registration services in accordance with the relevant law.
Do I need a visa to enter Hong Kong?

Tourists from many countries are allowed to enter Hong Kong without a visa for a period of 7 to 180 days – the length of the traveler’s stay depends on his nationality. For more information on visa requirements, contact the Hong Kong Immigration Department.

When is the best time to visit Hong Kong?

Hong Kong is popular with tourists all year round. From mid-September to the end of February, the weather is mild, and from May to September it is quite humid and hot. The rainiest month is August. For more information, visit the Hong Kong weather website.

Where is the better to stay in Hong Kong?

Hong Kong is very compact place and tourists are never  far away from major shopping areas and attractions. Traveling around is very simple. Most hotels are located close to the harbour-front in Central, Wan Chai, Causeway Bay and North Point on Hong Kong Island, and in Tsim Sha Tsui, Tsim Sha Tsui East and Hung Hom in Kowloon. You may also find a lot of place to stay within Kowloon’s busy areas of Yau Ma Tei and Mong Kok. There is also a increasing number of resort-style hotels in the New Territories and the Outlying Islands that offer more relaxing alternatives.

Where to stay in Hong Kong?

Hong Kong is a compact city, so tourists can easily reach attractions or shopping areas. Getting around Hong Kong is also very easy. Most of the hotels are located near the harbor in the Central District and the Wan Chai, Causeway Bay, North Point areas on Hong Kong Island, as well as in the Tsim Sha Tsui, Tsim Sha Tsui East, Hung Hom areas on Kowloon Island. There are also many accommodation options in the Yau Ma Tei and Mong Kok areas. In the outer islands, a growing number of resort hotels offer a more relaxed atmosphere.

What are the official business hours in Hong Kong?

Working hours depend on the field of activity and the specific company, but you can focus on the following options:

  • Offices are usually open from 9:00 am to 6:00 pm, Monday through Friday.
  • Many also work from 9:00 am to 1:00 pm on Saturdays.
  • Banks are open from 9:00 am to 5:00 pm from Monday to Friday and from 9:00 am to 1:00 pm on Saturdays.
  • Shops are usually open from 10:00 am to 7:00 pm daily, and some located in the Causeway Bay and Tsim Sha Tsui shopping districts are open until 9:30 pm or later, especially on weekends.
  • Restaurants accept guests until 23:00.
How is security in Hong Kong?

Hong Kong is one of the safest places in the world.

What are the holidays in Hong Kong for 2020?

You can see the list of holidays here.

Arrival in Hong Kong

When you arrive at Hong Kong airport, automatic sensors in the monitoring area measure your temperature. If it is deemed dangerous, you will be offered a quick health check.

For more information, see the Health Department website.

Health

Hong Kong has excellent hospitals and excellent medicine. Tourists in need of an ambulance or emergency can go to public hospitals and are sure to receive treatment, even if they cannot pay for it right now.

See the hospital management website for details.

Message from the CEO

General Principles of Conduct for Company Directors in Hong Kong

Principle № 1: Acting in good faith for the good of the company

The director of a Hong Kong company must act in good faith in the best interest of the company. This means that the director is obliged to act in the best interests of all of shareholders, present and future.

Principle № 2: Use Authority Properly for the Benefit of the Whole Company

The director of a Hong Kong company must use his power for the proper purposes. This means that the director should not use his powers for purposes for which they were not granted. The director’s actions should be directed to the good of the company. If it turns out that the main motive is related to something else (for example, with the desire to benefit only one or a few shareholders), then the consequences of using the granted powers can be canceled. This can happen even if the director acted in good faith.

Principle № 3: Delegate authority only with proper authorization and duty to exercise independent judgment

Except as permitted by the Memorandum and Articles of Association or any other resolution, the director of a Hong Kong company may not delegate his responsibilities. He must make independent judgment with respect to any of his powers.

Principle № 4: Exercise Care, Use Your Skills, and Work Hard

The director of a Hong Kong-based company must exercise reasonable care, use his knowledge and skills, and work diligently. These qualities will be manifested in the use of general knowledge, skills and experience that are needed by the person leading the company.

Principle № 5. Avoid Conflicts of Personal and Corporate Interests

The director of a Hong Kong-based company must not allow personal interests to conflict with those of that company.

Principle № 6. Do not enter into transactions in personal interests or transactions that are contrary to the law

The director should not enter into transactions on behalf of the company in his own interests.

In addition, the director must not enter into transactions if they are contrary to Hong Kong law. The law requires the disclosure of a personal interest in prospective transactions. Under certain circumstances, the board may approve the deal. The director is required to disclose his interests to the extent necessary and, where applicable, must obtain approval from other board members to complete the transaction.

Principle № 7. Do not use official position for personal gain

The director of a company registered in Hong Kong should not use his official position in order to gain benefits for himself or another person directly or indirectly to the detriment of the company.

Principle № 8. Prevent unauthorized use of property or information

The director of a Hong Kong company must not use its property or information, or any other opportunities that the company gains or of which he becomes aware as its director. The exception is cases when the benefits or information were announced at the general council and their use was approved.

Principle № 9. Do not take personal gain from your position

A director or former director of a Hong Kong-based company must not profit from his position and accept remuneration from third parties if they are related to his position.

Obtaining personal benefit is possible only if the company itself does not miss the benefit, or this is a general decision of the company, or the remuneration is not related to the position and functions of the director.

Office in Hong Kong

Address: Office room 77, 7/F, Woon Lee Commercial Building, 7-9 Austin Ave, Tsim Sha Tsui, Kowloon, Hong Kong

Contact 

Email: legal@vitaliberta.com
Office Tel: +85268416177
Skype: ygrtima

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