Hong Kong Limited Company Registration
Hong Kong Limited Company Registration
If you are looking to increase your property investment value, you should consider company registration in Hong Kong. Company registration in Hong Kong provides you with a unique opportunity to benefit from the stock market’s flexible and convenient structure in the world’s most sophisticated financial centre. It also provides an excellent opportunity for you to enjoy the benefits of company administration, management, and protection. These benefits will help protect your assets from fraudulent ownership and provide you with the necessary protection against sudden and unannounced liquidation of share capital. Company registration in Hong Kong is both simple and straightforward, and you can be sure of the benefits of company formation in Hong Kong if you follow the correct process.
Forming a business through Hong Kong limited company registration is not only a straightforward process that has few legal terms and requirements to understand, but it is also relatively quick. If you have decided to establish a business in Hong Kong, you will first determine the type of company you wish to create – a corporation or an individual. Once this decision has been made, you can continue with your business name and company secretary’s registration with the Hong Kong Special Administrative Region (HKS). Your address and contact details should be provided on the company registration application form.
Company registration in Hong Kong is not limited to corporations. Even individual proprietors can open a company in the city using either the standard or commonregistration type. They need to provide the prescribed documents to the Registrar of Companies and pay the specified charge. Alternatively, they can open a limited liability partnership (LLP) and two or more other individuals interested in the same venture.
One other primary requirement of a company in Hong Kong is that its shareholders must be residents. The only exception to this requirement is when most of the directors or shareholders immigrate to Hong Kong from China. In that case, the company secretary can request the Chinese government’s relevant departments to appoint the necessary majority of shareholders.
Limited company registration in Hong Kong requires the Companies Registry’s approval and the Hong Kong Commercial Centralised Register of Corporate Affairs (CCRA). The Companies Registry is the central registry of all corporate documents in the city. The registry is controlled by the Business Development Board under the Ministry of Economic and Social Affairs. The central register does not include the documents relating to share capital. Only the company secretary and the shareholder are permitted to make requests for these documents from the registry.
To get registered in the Hong Kong companies registry, you need to pay a nominal fee. The fee is usually payable in two parts: annual registration fees and registration fees for the initial six months, after which yearly registrations are mandatory. There are several options available to choose from for annual registration fees. You can select the option of paying in one lump sum or multiple small payments. You need to pay the yearly registration fees regardless of whether your company will be active within the following year or not.
After getting the company registration done, the next step is to request the business registration certificate. The company must submit copies of the document to the Secretary for the granting of the certificate. It is mandatory to submit a business registration certificate as evidence that the company is legally active. This document is also used as proof of ownership for the loan application. The company must also submit a land charge, the latest tax returns and pay the annual government fee for receiving the document.
To receive the certificate, the company must pay an additional registration fee known as the administration fee. If you wish to save money on the registration, you can consider skipping the government fee and spend it later. Most business registration firms offer the convenience of choosing the right registration option for you at a very affordable price. However, you must conduct thorough research before deciding on any firm. You can visit the State Business Office’s official websites to find the best Hong Kong company incorporation service that is suited to your needs.
Hong Kong limited company registration