Hong Kong Company Registration

Hong Kong company registration advantages

Helping companies upgrade their brands

Hong Kong allows the company name to contain "international", "group" and other high-end words, combined with its economic and financial strength, to help enterprises quickly establish an international brand image.

Good for corporate tax planning

Low tax rates and limited tax types provide companies with a wide scope for tax planning, both for local operations and international trade.

Free ports for financial flows

No foreign exchange control, free entry and exit of funds, high credit rating, easy to open a global account and capital financing, is a solid backing for enterprises to expand international business.

Helping enterprises to "go global"

Hong Kong companies can easily set up foreign enterprises or enjoy preferential policies in China, while relying on its position as an international financial center to help enterprises enter the overseas market.

Hong Kong company conditions and required information

1. Shareholders and directors: Only one shareholder or director aged 18 years or older is required, with no restrictions on nationality;
2、Statutory Registered Secretary: A statutory secretary is required, who may be a Hong Kong limited company or a Hong Kong permanent resident;
3、Statutory registered address: Hong Kong local address, but not the mailbox and director's address;
4, the company name: the name can be used by the checklist without renaming, but must end with "limited company / LIMITED", to avoid sensitive words;
5、Business Scope: Unlike the mainland, there is no strict limitation on the business scope of the company, and only the word "trade" is usually indicated in the company registration;
6, registered capital: limited liability company minimum registered capital of 10,000 Hong Kong dollars, without capital verification; more than the standard registered capital shall pay 2/1000 registered capital stamp duty.

• Company name in English and Chinese: (Login to Hong Kong's business system to check whether the name is available)
• Photocopies/scans of directors' and shareholders' ID cards or passports
• Registered Capital (Minimum HK$10,000 No Capital Verification Required)
• percentage of shares
• Scope of business

Hong Kong company process

1. Check the name of the company for verification Prepare the name of the company to be registered in Hong Kong (at least 3), to confirm whether it can apply for registration, the company's Chinese name should end with "Limited", the English name should end with "LIMITED".
2.Confirmation of the company's registration information When the company name is selected, you can synchronize the confirmation of the company's directors and shareholders, clarify the shareholders' shareholding ratio, the company's registered capital and business scope, and then submit the registration application.
3. Submit the registration application to the government departments After the company's registration information are complete, the agency will be in accordance with the requirements of the government's document format, issued by the registered signature documents, to be signed and submitted to the Hong Kong Government.
4. Completion of Hong Kong company registration After the application for company registration is approved, you can obtain the registration documents from the Registrar, prepare documents such as articles of incorporation and seal, and mail a full set of information.

Hong Kong Company Registration Fee

Government registration fees: The Government of the Hong Kong Special Administrative Region (HKSAR) prescribes a number of necessary registrar's fees, which include the Registrar of Companies' Fee and the Business Registration Fee. The Registrar's fee is usually paid in a lump sum, while the Hong Kong annual filing fee is payable when a company makes its annual filing.

Registered Agent Fee: Most businesses choose to engage a registered agent to ensure a smooth and professional process. The cost of a registered agent varies depending on the size of the company, the services provided and additional services. Generally, the cost of a registered agent includes the service fee and possible additional services.

Hong Kong company registration and account opening

1、How to open an account for a Hong Kong company

Corporate Background Requirements: Hong Kong companies applying for account opening should have mainland affiliates for their shareholders or directors, and are also required to conduct KYC due diligence.

Complete company documents: Official documents such as Hong Kong Certificate of Incorporation, Business Registration Certificate, Incorporation Form (e.g. NNC1) or latest Annual Return (e.g. NAR1), Memorandum and Articles of Association, etc. are required.

Shareholder and director identification information: Each director is required to submit valid identification documents and may be required to provide recent (e.g., the last 3 months) bank current records to verify personal financial stability and the legitimacy of the source of funds.

Proof of business authenticity: Prepare at least 2-3 sets of complete business transaction information, including but not limited to relevant contracts, freight bills of lading, import and export customs declaration documents and VAT invoices, etc., in order to confirm the authenticity and activity of the company's business.

2、Hong Kong bank account opening process

Entrusted agent on behalf of: after the registration of Hong Kong companies are usually directly entrusted to the secret company directly for the Hong Kong company account opening

Appointment of account opening time: Appointment of Hongkong Bank account opening time on behalf of Hongkong Fung, in order to efficiently arrange the follow-up process.

Data Preparation and Consultation: Under the guidance of professional consultants in Hong Kong and China, complete the preparation of all the necessary information before opening an account, and at the same time, obtain professional advice to enhance the success rate of account opening.

Choice of account opening method: Depending on the account opening bank, you can choose to visit the Hong Kong bank in person for on-site face-to-face interviews, and some account opening banks provide face-to-face interview services within the territory.

Approval and account activation: Waiting for the bank's review and approval, after the account is successfully opened, you will get the account password and online banking tools in time to formally activate the account for funds management.

Frequently Asked Questions

1,What do I need to pay attention to after the Hong Kong company registration is completed?

After the completion of Hong Kong company registration, the follow-up management is also relatively simple, the main thing is the annual audit and taxation. Hong Kong company annual audit is for its company business license audit, take the annual audit mode. The content of the annual audit includes: replacement of business registration certificate, annual report, statutory secretary and registered address audit. If a Hong Kong company fails to conduct the annual audit, the Hong Kong government will impose a fine according to the overdue time.

2,Is it necessary to cancel a Hong Kong company when it is not in use?

In the case that the Hong Kong company is not put into use, it is best to choose to write off, never leave it alone and ignore the issue of write-off. Because the Hong Kong company to operate normally, must be reviewed annually, if not annual review, the annual review fee will always be cumulative, and will produce the corresponding fine, if not in the time specified by the government to pay the fine, you will receive a court summons, you have not been to do to respond, the government will be a certain period of time to make the company mandatory deregistration of the initiative, of course, the board of directors of the company into the government's blacklist, and in the future to cross the Hong Kong Of course, the board of directors of the company will be blacklisted by the government, and the company will be restricted from opening bank accounts and conducting business in Hong Kong.

3,What are the main types of Hong Kong company tax? What is the corporate tax rate?

Few taxes: Hong Kong taxes mainly include profits tax, salaries tax and property tax (for property holders only). Hong Kong is basically exempt from import and export taxes, except for specific commodities (e.g. tobacco, alcohol, cosmetics) and industries.

Low tax rate: The profits tax rate is only 16.5%, which is calculated based on the actual profit of the company, and no tax is payable if there is no profit. In addition, according to the latest tax reform, companies can enjoy a preferential tax rate of 8.25% on their first HK$2 million profit.

4,Is paid-up capital required to open a company in Hong Kong?

Registered capital tax exemption: No registered capital tax is required for registration, and the minimum can be set at HK$1. It is recommended to register HK$10,000 and divide the shares to avoid the burden of stamp duty on transfer of shares at a later stage.

Transfer Stamp Duty: Stamp duty is payable on the transfer of shares at the rate of 0.21 TP3T of the price of the shares transferred, e.g. the transfer of shares representing a 501 TP3T interest in the company, if the net asset value of the company is HK$1,000,000, the stamp duty will be HK$1,000.

5,What are the key points to note when opening a company for maintenance in Hong Kong?

After the registration of Hong Kong companies need to pay attention to the annual audit and tax matters. The annual review is an annual business license audit, including the replacement of business registration certificate, submission of annual report and confirmation of statutory secretary and registered address, and late will be subject to a fine. Taxation is handled independently by the Inland Revenue Department, and you need to appoint a professional licensed tax company to do the accounting, auditing and tax reporting.

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