Guide to Limited Company Registration in Hong Kong
Are you aware of the benefits of company registration in Hong Kong? Have you ever considered getting it done? If so, you are not alone. Business entrepreneurs throughout the world consider company registration as one of the best business decisions they can make. It allows businesses to enjoy many benefits, which in turn increase the profitability and long-term success of the company. Some of these benefits include:
You are opening a new line of business. When you open Hong Kong limited company registration, you have to comply with the local rules and regulations applicable to your new endeavour. One of these is the taxation system, which you will then have to comply with if you want to avail of some of the benefits of company registration in Hong Kong. The rules and regulations for Hong Kong limited company registration state that the firm’s principal owner must be a person who owns an office or other structure in the territory of Hong Kong unless he or she holds an office elsewhere in the world.
Easy eligibility. Companies in Hong Kong are subjected to several laws and rules. Among these are the Companies Act, the Payment Act, the Memorandum and Articles of Association, the Memorandum of Association Registration, and the regulations related to corporate formation and voting. Therefore, before a company can become registered, it must comply with all the requirements mentioned in the laws above and the Memorandum and Articles of Association. If you have all these documents in order, then you are eligible to register a company. Moreover, the requirement of having an appointed company secretary also necessitates you to have a nominee director or someone who will act as the company secretary during the initial registration period.
Easy reference. Companies in Hong Kong have to be registered under the Companies Ordinance Law, making it easier to find relevant information. Hence, getting the services of 3e accounting and bookkeeping service providers is easy as they will make sure that the company registration services meet all the requirements. The documents required for the registration of a business are processed through the 3e method, ensuring that the preparation is accurate and complete. Consequently, the accuracy and completeness are high.
The Companies Ordinance Law does not require an amount of transfer capital. There are no restrictions on the ownership of the shares by the shareholders. The only requirement for company registration in Hong Kong is that at least one of the directors of the Limited Liability Company must be a permanent resident of the country. There is no other requirement for the payment of transfer capital.
Registration of a share. To register a company in Hong Kong, one needs to be registered under the appropriate Companies Ordinance within three months from an invitation to register the company. On being written, the applicant must pay the necessary fee and deposit it into the registered office. After being registered, the shareholder has to notice to the Companies Registry that he is a director of the Limited Liability Company and authorises the company to do any business that it deals in it. The next step is for the company secretary to verify the identity and the relation of the person making the payment and giving notice. Finally, file the Articles of Association in the prescribed form with the Companies Registry.
Registration of shares. If you want to establish a business in Hong Kong, you must apply for the registration of your company. You must pay the prescribed charge for the registration of your company. There are two categories of stock options available to you as an investor: the standard stock option and the restricted stock option. The company secretary will allow you to choose if the prescribed charge does not apply to you. However, there is a prescribed charge for both the stock options and, if you are investing in non-Hong Kong companies, you have to pay the prescribed amount for the registration of the company itself.
You are submitting your document to the Companies RegistryTheseforms include the Memorandum and Articles of Association, and the Operating Agreement. In addition, the complete copy, including the bylaws, should be submitted along with the application form. This entire process may take two weeks or more, depending on the size of the business.
You are obtaining a business registration certificate. Once your company registration is complete, you must get a business registration certificate from the Companies Registry. The certificate states that your company has been registered with the government, and it is legal. Once you get a business registration certificate, you can operate your business legally.