Have you ever looked at the leading brands out there and wondered how they made it to the top? You do not have to keep wondering anymore because the secret is now out: using offshore registered companies as stepping stones. One of the most preferred jurisdictions for foreign companies in Hong Kong. It is a financial, business, and tourist hub that does not disappoint.
Hong Kong is home to most banks and large companies you know of today, but to take advantage of this high-potential jurisdiction, the first step is company incorporation. Keep reading to learn more about company incorporation in Hong Kong, the main requirements, and why you should use the services of experts.
Important Facts about Hong Kong and Its Economy
- Hong Kong operates as a Special Administrative Region of China (SAR), which means it enjoys a huge deal of autonomy. It even has its own central bank and makes independent laws.
- The jurisdiction is an island that is strategically located on the southeast of Mainland China, next to the Guangdong province, with Macao to the west.
- Hong Kong’s economy is characterized by low taxation, free trade, and minimum government intervention.
- The jurisdiction’s legal system comprises basic law, subsidiary legislation, rules of equity, and customary law.
- Services contribute 92% of the GDP while industry comes far second with 7.6%.
- Hong Kong has a population of 7.55 million.
- Hong Kong generates revenue from taxation, especially businesses that have set up operations there. This is why the Hong Kong administration puts a lot of effort into ensuring all companies registered there become successful.
The Main Requirements for Company Incorporation in Hong Kong
To register a company in Hong Kong, one of the most important things is to understand the Companies Ordinance, which outlines the main steps and documents required. So, here is a list of the main requirements when incorporating a company in Hong Kong.
- Approved and reserved company name.
- Particulars of the company directors and shareholders.
- The liability of the shareholders.
- Memorandum of understanding and articles of association.
- Resident company secretary.
- Registered address (this is not a post office address but a physical location where the Hong Kong authorities can visit to check statutory documents).
- Duly filled company registration form.
- Immediately the certificate of incorporation is issued, you need to get a bank account, register for Business Registration Certificate (BRC), and additional permits where necessary.
Incorporate Your Company with the help of Experts to Enjoy These Benefits
When you look at the requirements for company incorporation in Hong Kong, is it complex? It looks pretty challenging to many foreigners, but you can now work with an agency of experts to simplify the process. With top agencies for company registration, such as GMHK, here are the main benefits to anticipate:
- The documents for company registration are prepared professionally.
- The process is finished fast, allowing you to grab any opportunity that might have come by faster than expected.
- You do not need to book a flight to Hong Kong because experts are already handling the registration process on your behalf.
- The cost of registering a company is pushed down by a huge margin when you work with experts compared to doing it on your own.
- With good professionals, you are also assisted in crafting good market entry strategies for success.
This post has demonstrated that Hong Kong is a jurisdiction that is overflowing with potential, and you should not be left behind as others take advantage of it. By working with the best agency for company registration, you are assisted in making the process easy, fast, and fun too. Visit GMHK, one of the leading agencies, for all the support you need about company incorporation in Hong Kong and post-registration executive functions.