Steps in Setting Up a company in Hong Kong
If you’re looking for an ideal place in doing business or setting up a company in hong kong. Captivated by the attractive business environment and tax compliance services. Business people might be more interested in knowing the steps on how to step up a company in Hong Kong. Due to its clarified requirements and incorporation process. Applicants can file for a Hong Kong corporate. And rapidly get the documents ready within 24 hours to manage their business instantly.
Taking the methods step by step, you must choose a company name, suitable entity type. And also decide on the company structure and request with the Hong Kong Companies Register (CR). Once your business sectors are required by the CR, a permit or license is mandatory.
Check this if you want to set up a company in Hong Kong
- Choose the proper company type
- Originally, investors must consider their company’s size, financial ability, needs. And also features of every group before incorporating a business. The entity types of Hong Kong are classified into:
- Sole Proprietorship
- Limited Liability Companies (LLC)
- Others: Representative Office or Branch Office (Liaison Office)
For detailed features, you can refer to the Hong Kong category. Together with the strengths and weaknesses of each company type.
- Pick a company name
- The Hong Kong Companies Registry (CR) unlike other offshore jurisdictions do not provide reservation. Or do not give provisional approval of the company name. You must check first the name availability to save time with a company registration agency. To prevent any delay with the incorporation.
- Decide on the company structure
- Entrepreneurs need to follow the requirements of a business entity to set up a private company in Hong Kong.
- Continue opening a company in Hong Kong
- In registering the Hong Kong company, there are 2 steps needed in the process:
Step 1: Filing the needed application for consent of the proposed company name with the CR
Step 2: Submitting all the needed documents to the CR
- Apply for business permits and licenses
- Almost all business activities can be managed freely in Hong Kong. Yet, the specific types are mandatory to have a permit or license. Issued by a matching department of the Hong Kong Government. The permit or license must be recorded within one month after the company has set up.
- Open a corporate bank account
- Though you can have a corporate bank account in a different country for the Hong Kong company. Banks in a similar territory are most suggested if you are going to use reliable payment gateway providers.