For more than two decades, Hong Kong has stood out as a business paradise because of its supportive administration. Mention any globally renowned financial institution and the chances are that it has some presence if not the headquarters in Hong Kong. So, if you are thinking of company registration in Hong Kong, it will be an excellent idea that can help to catapult it to global status. To get into this high potential jurisdiction, you need to start with business registration. Keep reading as we demonstrate all the steps required to register company Hong Kong plus the benefits to expect.
Facts and Benefits of Company Registration in Hong Kong
The main benefit of taking your company to Hong Kong is getting tax benefits. Hong Kong uses a two-tiered tax system where companies are allowed a reduced corporate tax rate of 8.25% for the first taxable two million HKD. Then, anything exceeding two million is charged the normal rate of 16.5%. Here are other benefits to expect:
- State-of-the-art infrastructure
- Supportive government
- Hong Kong serves as the main gateway to mainland China
- Hong Kong is strategically located in the Far East, making it possible to easily access other markets
What Documents are Required to Start a Company in Hong Kong?
The process of company registration in Hong Kong is guided by the Companies Ordinance, which describes the documents that are required and where to take them. Therefore, it will be a good idea to start the registration process by taking a closer look at the law. So, let’s look at the main requirements.
- Company name
- The company’s registered address
- A brief description of the company’s activities
- Company secretary
- Details, such as copies of passports and proof of location, of directors, shareholders, and company secretary
- The liability of members
- The significant controller’s register
- Share capital registered on incorporation
Although the Hong Kong administration is always searching for ways to improve the business environment, how to register a company is still challenging, especially for foreigners. For example, preparing all the above documents and details to register a company is very challenging. You might also be required to take several flights to Hong Kong. This is why you should consider using an agency to register your company.
How to Register Company Hong Kong with Assistance of an Agency
For most investors coming to Hong Kong, the biggest question they have at the back of their minds is, “how do I incorporate a company fast and easily?” The answer is working with an agency of experts.
The Companies Ordinance of Hong Kong allows investors to seek the assistance of professionals to register their companies. The good thing about the experts is that they specialize in company registration, and you can expect them to complete the process fast and professionally. Here are other reasons why you should register a company in Hong Kong with the assistance of an agency.
- You are assisted in preparing all the documents so that they look professional. All that the agency will require is your details for company incorporation
- The agency will do the name search and have it reserved for your company
- Instead of you flying all the way to Hong Kong, the agency will file the documents on your behalf
- Helps clients with opening a bank account
- Helping you to get Business Registration Certificate from Inland Revenue Authority
- Comes in handy when filling for business licenses and relocation visas
When you make the decision to register a company Hong Kong, the best method is to work with an agency. These professionals hold your hand to simplify the process and further support the enterprise during early establishment. They can also act as your company secretary and official address. When experts hold your hands, you can never go wrong with company registration in Hong Kong.