Guide to Setting Up a Hong Kong Company

Neighbours to China and a short-distance flight from key Asian markets, Hong Kong's coveted geographic location is undoubtedly a desired metropolitan for many to set up their company in this city.

Here is some general guide you will need to set up a limited company in Hong Kong.

1. Registered Office Address in Hong Kong

Hong Kong Companies Registry require proof of ownership or tenancy of the registered office address. If you have not finalised on your operational details or do not yet need a full office space, you may consider renting a virtual office. These virtual offices will provide you with a business address and usually also offer additional administrative services at a small fee. You may check out the Virtual Offices offered by Compass Offices.

2. Corporate Bank Account and/or Capital

To register and incorporate your company, you will need to provide your business capital information. You may open your banking account with a bank in Hong Kong. They usually require a minimum deposit, and this amount varies from bank to bank. If you are registering as an existing company overseas, you can submit a proof of your business for a banking account. Banks in Hong Kong typically charge between HK$10,000 to HK$15,000 to process the account and will require maintenance of a minimum balance of about HK$25,000.

3. Employ a Company Secretary

Anyone who is a Hong Kong permanent resident can be an appointed Company Secretary. Their responsibility includes making sure that company administrative matters are properly accounted for, and that the company directors complied with the regulatory filings like such as Annual General Meetings and Returns. Your company will of course also require at least one director to be appointed, and shareholders informing disclosed. A Hong Kong permanent resident can fulfil all three roles of a company, however, if a company only have one director (sole director) this individual cannot also act as the secretary.

4. Contribute to Hong Kong's Economy and Job Market

You may be required to show proof or action plan on how your company will contribute to the Hong Kong society economically and that you provide locals with jobs by local employment. This is to ensure that the locals are accounted for and that your company contributes positively to the society.

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