If you are planning to go offshore, one of the best jurisdictions is Hong Kong. For more than two decades, Hong Kong has stood out because of it stable political and financial regimes. Incorporating a company in Hong Kong provides an opportunity to enter the huge market that is China, enjoy government support, and grow rapidly.
To start operating in Hong Kong, you are required to incorporate a limited liability company. Here is everything you need to know about incorporating a business in Hong Kong.
What are the required documentations for company incorporation?
The process of company incorporation in Hong Kong is guided by the Company Ordinance that details the requirements and bestows the role to the companies’ registry. You will be required to prepare and the following documents.
- Copies of the company’s shareholders passports
- The proof of residence for all the company shareholders and directors
- The article of association
- Memorandum of understanding
- Minutes of shareholders agreeing to form the company
The company secretary and business address
Before you can present the documents to the company registry, you are required to get a resident secretary and a physical office. The resident secretary will be the link person between the company and the Hong Kong authorities. He is responsible for ensuring that the business operates legally and respond to authorities appropriately when required to do so. Note that the secretary must be a Hong Kong resident. If the company has more than two shareholders, one of them can act as the company secretary.
The company address is the main offices it will be operating from. You need to get some space in Hong Kong and use it as the main address. If your business will not be very active, it is advisable to consider sharing or employ the services of an agency.
Once you have all the documents, present them to the Company’s registry for verification so that the process can begin. It will take about two weeks to have the company incorporated.
Incorporating a company in Hong Kong with the help of an agency
If you are registering the company on your own, it will involve preparing all documentation and fly to Hong Kong. While the process is very simplified, some people who are relatively busy or unsure of how to go about the process prefer to employ the services of an agency.
Agencies are legal entities allowed to assist people in Hong Kong. The selected agency will help you to prepare all the needed documents, conduct name search, get a company secretary, and pick the bets office for you. You do not need to make a flight to Hong Kong. For people whose companies will not be very busy or core operations will be abroad, the agency of choice can serve as a secretary and physical address.