As Asia's commercial and financial center, Hong Kong is very welcoming to businesses all over the world. The HK company incorporation is easy and fast, making it ideal for setting up a business in Mainland China.
Hong Kong company requires very low investment of just HK$10,000, and allows trade, invoicing, hiring staffs and unrestricted flow of capital aboard. You have access to corporate and individual taxes among the lowest in the world. The simple tax and accounting requirements, 'western' legal system, and efficient business banking all make it a desirable location for opening offshore companies by the foreign investors. Virtual office address is also permitted.
HK companies must have at least one director who may be a foreigner, and a least one local person as company secretary. You don't need to live in Hong Kong to open a company, but you will need to visit in order to open a business bank account. With all the benefits stated, here is how you start your business in Hong Kong:
Generally, a foreign investor has two options in incorporating a Hong Kong company. If the investor doesn't have time to wait, he can purchase a shelf company, which is a company that has no liability nor asset after initial registration. After buying it, the investor can increase share capital, change the name and registered address of the company. However, if the investor wishes to register a new business in Hong Kong, he must follow certain procedures
First, the desired company name must be checked at the Companies Registry for duplicate. After that, the following documents must be submitted to the Registry:
the registration application
the Memorandum of Association and Articles of Incorporation
the passport copies of the founders
bank reference letter for non-resident shareholders or directors
copy of HK identity card for HK resident shareholders or directors
copy of parent company registration
After 14 days from registration, notification regarding the registered address needs to be submitted to the Business Registration Office, so as the decision of appointing the director(s) and the secretary, and their consent to act in that position.
For personalized consultancy please feel free to contact us. As a Chinese premier foreign investment service provider, YINGKE offers comprehensive ongoing investment solutions in over 40 cities in China. Our high quality services extend to accounting, HR, legal structuring, business strategies, marketing and business development, etc. You can trust us as your most reliable partner in your China investment journey.