How to Establish Company in Hong Kong
Were you planning to add value to your investment by setting up a company in Hong Kong? It’s not as daunting as you may think! Setting up a Hong Kong company as an expatriate is comparatively less stressful than a mainland Chinese person setting up a company in the same area. More than 300 shipping routes link Hong Kong to more than 700 international ports around the world. Hence, it is readily apparent that Hong Kong is one of the most lucrative destinations for profitable companies.
However, establish company in Hong Kong is easier said than done. Most importantly, you need to have a bank account and other essential documents before selecting a firm. Given below are some of the primary documents required to open a company in Hong Kong.
Companies usually require a company formation Kit. Company formation kits vary in prices from a few dollars to several hundred or thousands of dollars. Before you purchase a kit, be sure to check with the better business bureau to see if they are registered in your name. Most kits provide a detailed booklet with complete instructions on how to open a company. Moreover, the instructions tell you how to write a company, form an initial company, and carry out its management and administration. All these services help establish company formation in Hong Kong.
Next, there is a Memorandum of Association you need to procure along with all the supporting documents mentioned in the above steps., it is mandatory to have a Memorandum of Association. It is an important document that assists in providing all the benefits of company formation in Hong Kong. This document’s primary purpose is to ensure that all the people involved in any company’s business are protected and their rights are protected. It also helps establish the correct standing of every person associated with the company.
If you need to open a company in Hong Kong, you will require at least one office. It can be expensive and the option of hiring an accountant or a lawyer to do the job for you. However, both these options are costly, and they may not be able to assist clients properly in case of the company secretary and accountant’s absence.
Besides having a company secretary, you will require at least two people who can act as company secretaries and accountants. These two individuals should be trustworthy and have a good knowledge of the law. You can select two people from your staff or hire an external firm to act as company secretary and accountant. It is advisable to take the assistance of a firm specialising in taking company formation in Hong Kong. These firms have competent personnel who will establish a company in Hong Kong and handle its issues.
When you establish a company in Hong Kong, it is essential to register the company. This task can be done by you or by your company’s representative. When you select the latter, it is necessary to check the Leg Office’s details in Hong Kong and consult the relevant documentation. The registered office of your company is also the most critical aspect of the whole process.
To establish a company in Hong Kong, you need to follow the correct procedures. If the documentation is incomplete or if some of the requirements are missing, you will be unable to establish the company’s status. Furthermore, there are some minor requirements that you should take care of to avoid being rejected at the registration stage. Once the company is established, it will be straightforward for you to deal with the issues that arise in the future.