Are you ready to make your tag as a business owner in the Hong Kong startup company market. Wonderful! The first stage is creating your business. Here is some process for take in order to determine a new company in Hong Kong.
Verify Your Company Name
The first and primary step in establishing a new Hong Kong offshore is to choose a name for your business, which can be in Chinese language, English or both. You must to be cautious while choosing a name simply because you cannot make use name for your business that anyone has been using or has used in previous times. You can carry out an internet search to be able to acquaint yourself with all the recommendations for the sign up of a Hong Kong Business.
Select A Legal Framework For Your Company
Now that you are done with the market evaluation and study for your startup, the next phase is identifying the legal framework for your company before signing up your organization. Determine the framework for your startup centered on your company’s requirements. The framework of the organization affects from how you want to do your business to how you file fees for your entity. If you are searching for the best Hong Kong offshore business framework, consider the below business formations:
- Branch Office
- Single proprietorship and partnerships
- Limited business
- Organization limited to guarantee
- Business limited by stocks
Register Your Business
To set up a new company in Hong Kong, you must sign-up your business with the Companies Registry that is accountable for the incorporation of your organization. Most business owners decide to register and incorporate their businesses like a limited business in Hong Kong because of many positive aspects associated with it. Limited businesses are a different legal entity and provide safety of private property from business dangers. Moreover, the process for shifting ownership and raising money or capital is simpler for limited businesses, compared to other venture organizations.
Incorporate Your Company Entity
The opening of a Hong Kong offshore business in Hong Kong is actually uncomplicated; however, you need to document these forms before incorporating your business.
- A duplicate of the shareholders’ and the directors’ identification documents
- Proof of address
- Authorized Incorporation form by authorizing companions
To include and register your business, you have to pay the relevant fee blended with the above files. You can send the form on the web through Hong Kong’s 24-hour Businesses E-registry or you can send a hardcopy at the authorities division at Queensway.
Now what do you do soon after incorporating your Hong Kong offshore business? The next phase is to get your organization up and running.
Open A Company Bank Account
One of the most relevant things you need to do is to open a corporate bank account to be able to begin funding your ventures. As the process for opening a private bank account is very simple, you will have to put together more paperwork and files to show to the financial institution to open bank account. Pointed out below are a number of the documents you have to prepare before going right down to a standard bank to open a business bank account.
- Many of Hong Kong’s banking institutions need the authorized address of the organization and the contact details of the organization as well as company owners.
- All files required and specific in the bank’s application include qualification by a business secretary, accountant, bank or attorney
- The incorporation documents of the organization
- A true duplicate of the company’s acknowledgement document
- Evidence of business just like audited monetary statements or business strategy.
- Information on ultimate owners for nominee shareholders of a business
- A professional duplicate of the company’s Business Sign up License
Want Something Better For A New Company?
It is not at all times simple for new businesses to source all the information banking institutions need.
Therefore, built with online companies and SMEs in mind, Neat Business provides a contemporary alternative for a bank account, which may be done completely on the web. Paperwork is straightforward: you require is a passport copy and Business Sign up Certificate. All other documents are acquired straight from the companies registry, and do not need to be provided by the customer.
Get The Permit
The next thing in establishing your Hong Kong offshore company is to obtain the permits your business may need. Numerous types of permits and licenses may affect your company depending on the type of your services. To be able to identify which permits suit your company entity, make sure you work with authorities and on the web licensing service providers.
Summary
We now have covered the main aspects related to setting up a new company in Hong Kong. You must be sure to adhere to all the guidelines and rules, such as managing funds, launching a business bank account, pensions and insurance preferences, and annual return processing in order to avoid any legal complications. As, we pointed out before, Hong Kong is among the best locations for doing business and starting a company can be carried out within times.
