Set Up Your Base in Hong Kong with Ease
Hong Kong needs no
introduction to the business community. It is one of the fastest growing
economies in the world and every company of repute has a base here. The city is
placed strategically across mainland China which makes it an economic
powerhouse. Many of the companies in Singapore and other nearby countries want
to set up shop in Hong Kong to exploit the excellent opportunities that it
offers. You can easily set up a company in Hong Kong using any of the
authorized agents for incorporating your company.
Opening Your Office in Hong Kong
There are basically four
types of companies that you can open in Hong Kong out of which the private
limited liability company is the most preferred type. It offers a lot of
benefits when it comes to expanding the business and getting funds for the
same. The company is a separate legal entity and hence the personal assets of
the shareholders won't be affected by any loss or liability.
Understanding the
Authorities
Though you will be
availing the Hong
Kong company formation services from an agent you must familiarize
yourself with the various authorities that are involved in company formation in
Hong Kong. The Companies Registry is the authority that enforces local company
laws. It is also the authorities that will incorporate local companies set up
in Hong Kong and register foreign companies that have an office in Hong Kong.
The Business
Registration office implements the rules with regard to business registration
in Hong Kong. The authority also registers all the businesses that function
here. This department falls under the Inland Revenue Department. The Trade Mark
Registry is in charge of Intellectual Property and trademark matters.
Procedure to Register
the Company
The registration process
of companies in Hong Kong starts with the registration of the company name. You
cannot register a name which is already being used by a local company. The name
should not give the impression that the company is associated with the local
government. The name should contain the word “Limited” in the English version.
You cannot have a name that has both English and Chinese letters. You can do a
name check using the various websites of the government.
One
of the important requirements in Hong
Kong company incorporation states that the company maintains a
significant controllers' register in the registered office. This will give the
details of the persons who have significant control over the company. There
must be one designated representative in the company who should be a Hong Kong
resident. The person can be an employee of the company or a licensee of the
Hong Kong Trust of Company Service Provider.
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