Start Business in Asia with Hong Kong company registration
Getting Started with Hong Kong Company Registration
Hong Kong is a prime location to register and operate your business. Its robust legal system, low tax rates, and business-friendly environment make it an ideal hub for doing business in Asia.
Corporate tax rate of 8.25% on the first HKD 2 million of profits, and 16.5% on everything thereafter. One of the lowest corporate tax rates in Asia and in the world
No capital gains tax / No VAT
Zero printed paperwork and same-day 100% remote registration with Corporation China
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Hong Kong Business Opportunities and Pros and Cons of a Hong Kong Company
Hong Kong has long been a major hub for international business and finance in Asia. Its strategic location, robust legal system, low taxes, and business-friendly policies make Hong Kong an attractive base for multinational corporations looking to expand into China and the broader Asia-Pacific region. Here we explore some of the key opportunities as well as potential challenges of setting up a company in Hong Kong.
Business Opportunities in Hong Kong:
Gateway to China and Asia: Hong Kong provides convenient access to Mainland China and acts as a springboard into the broader Asian market, with free trade agreements in place with China, ASEAN, Australia, and New Zealand.
Established financial center: As a global financial hub, Hong Kong offers a developed capital market, free flow of information and capital, and a convertible currency pegged to the US dollar. This makes financing and investment easy.
Favorable tax regime: Hong Kong has low taxes, with profits tax capped at 16.5% and no VAT, sales tax, or tax on dividends. There are also generous deductions and exemptions.
Ease of Doing Business: Hong Kong ranks highly on indexes of economic freedom and ease of doing business. Simple rules for company incorporation, visas, and employment make setup fast.
Legal system: Hong Kong has an independent judiciary and strong rule of law inherited from its time as a British colony. This provides confidence in contracts.
Free port status: Hong Kong is a free port, with no customs duties levied on imports or exports. This facilitates trade.
Social stability: Hong Kong offers political stability, safety, and low corruption levels compared to elsewhere in the region. This ensures operational certainty.
Challenges of a Hong Kong Company
High cost of living: Salaries, office rental, amenities, and other business costs are relatively high in Hong Kong compared to Mainland China.
Limited local market: With only 7 million people, Hong Kong has a restricted domestic consumer market. The focus is exporting abroad.
Tightening legal controls: Hong Kong’s legal autonomy from China is diminishing. The mainland’s growing influence raises uncertainties.
Bureaucracy: Despite business-friendly policies, Hong Kong still has red tape. Permits, visas, paperwork and compliance obligations take time.
Overall, Hong Kong provides an optimal launchpad for overseas companies to access the wider China market and Asia region. Its strengths as an international gateway city outweigh shortcomings for most firms. With the right strategy, knowledge and local partners, the opportunities are substantial.
Benefits of Using Corporation China for Hong Kong Company Registration
Setting up a business in Hong Kong as a foreign investor can be complex without local expertise. Corporation China provides valuable assistance during the company registration process and beyond.
Same-day registration
- Get your Hong Kong company incorporated in just 1 day
- We prepare all documents and handle the entire application process
Total Convenience
- Use Corporation China as your registered agent so you don’t need to be in Hong Kong
- English and Chinese bilingual services for everything related to your company
- One-stop shop for all Hong Kong business services
Ongoing Legal Compliance
- We assist with all post-registration compliance obligations
- Stay updated on changing company regulations
Requirements and Facts for Hong Kong Company Registration
Hong Kong makes starting a business relatively straightforward for foreign investors. Here are some key requirements and helpful facts regarding registering a Hong Kong company:
Requirements :
- Company director: At least one director must be appointed, who can be a natural person or corporation. Directors can be foreign residents.
- Company secretary: A Hong Kong resident or registered corporate services provider must be appointed as company secretary.
- Registered office: The company must maintain a registered address in Hong Kong.
- Shareholder: Minimum of one shareholder is required, who can be foreign or Hong Kong resident.
- Share capital: While no minimum capital is legally required, at least one share must be issued.
Timeline and Facts
- Registration: Takes just 1-2 days once all documents are ready.
- Maintenance: Must file an Annual Return and pay a registration fee to the Companies Registry annually.
- Taxes: Only profits generated in Hong Kong are taxed. Several exemptions exist.
- Work visas: Relatively easy for staff of HK registered companies to obtain employment visas.
- Bank account: Can take 2-4 weeks to open a corporate bank account as a foreigner in Hong Kong.
Overall, Hong Kong registration is fast and convenient for overseas investors. With professional help from a provider like Corporation China, meeting the requirements is straightforward.
Step-by-Step Guide to Remote Hong Kong Company Registration
1. Choose a Company Name
Pick one or more names for your Hong Kong company. We’ll check availability and feasibility with Hong Kong’s Companies Registry.
2. Prepare Incorporation Documents
We’ll prepare all the documents like the M&A and elect director(s) and shareholder(s) based on your provided details.
3. Sign Documents Remotely
Once finalized, the documents can be signed electronically without needing to be physically in Hong Kong.
4. Make Payment
Pay government registration fees and service provider fees online with credit card, bank transfer or other options.
5. Submit the Application
We’ll submit the signed application and documents to the Companies Registry on your behalf.
6. Obtain Registration Certificate
Within 1-2 days, the Registry will issue a certificate of incorporation for your new Hong Kong company.
The entire registration process takes just few days from start to finish. At Corporation China, our experts handle it all smoothly while you focus on your business. We enable easy remote registration without travel to Hong Kong required.
Required Documents for Remote Hong Kong Company Registration
To register a Hong Kong company without needing to be physically present, the following documents must be prepared and submitted:
1. Company Memorandum & Articles of Association (M&A)
The M&A outlines the company’s purpose, share structure, director powers and internal organization. This key document must comply with Hong Kong company regulations.
2. INC-1 Incorporation Form
This standard form provides details on the company’s name, proposed business activities, director(s) and shareholder(s).
3. Declaration of Identity and Consent
Signed declarations from each director and shareholder, which can be done electronically.
4. Proof of Appointment of Company Secretary
The Corporate Services Provider that will act as Company Secretary must issue proof of consent.
5. Proof of Registered Office Address
Evidence that the company has a registered physical office address in Hong Kong.
6. Copies of Director and Shareholder ID/Passports
Certified copies of identification documents for directors and shareholders.
With Corporation China’s expertise, the entire process of preparing correct documents, getting them signed digitally, and submitting the application is smooth and fast. Contact us to remotely register your Hong Kong company easily.
Ready to Register Your Hong Kong Company ?
Corporation China makes it fast, easy, and convenient to register your Hong Kong company remotely on a same day.
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Hon Kong company Registration FAQ
Expanding into a new market naturally involves questions. See some common FAQs about our HK incorporation services below:
How fast can I get my company registered?
With our streamlined incorporation process, we can complete registration in as little as 1-2 days.
What ongoing legal obligations will I have?
You must submit an Annual Return and pay fees yearly to keep your company legally compliant.
Can I open a bank account without visiting Hong Kong?
Yes, we can handle opening a Hong Kong business bank account remotely for you.
Will my company information be publicly available?
The company name and directors are listed on Hong Kong's public Companies Registry.
Can I use my HK company to enter Mainland China?
Yes, a Hong Kong company is a great way to expand into and operate in Mainland China.
Is travel to Hong Kong required?
No, our full-service incorporation process can be done 100% remotely. No need to visit Hong Kong.
Are work visas needed for company registration?
No HK visas needed. The entire registration process is done remotely without visiting Hong Kong.
What are the tax benefits?
Hong Kong registered companies enjoy generous offshore tax exemptions and low tax rates.
What help do you provide after registration?
We assist with business licensing, tax registration, bank account opening, and meeting all compliance needs.
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