Grand Concept Certified Public Accountants (Practising) Limited

Formation of Hong Kong Companies

Facts

Introduction

Hong Kong has been a leading international finance and business center in the world. It is a territory equipped with stable political environment, well-developed infrastructure, ever-growing capital market, highly educated working professionals, and an attractive tax regime. Being as one of the most dynamic economic regions in the world, Hong Kong not only offers a supreme location for entrepreneurs and firms to participate in the Asian economies, but also serves as the doorway to the Chinese market.

HONG KONG LIMITED COMPANY

Setting up a limited liability entity in Hong Kong is the most common practice, in which the HK company can enjoy the low tax rate in Hong Kong. It will carry an independent accounting book and bank account in Hong Kong.

PROCESSING TIME: Normally take 1-2 weeks. It can be processed online within a day.

BASIC REQUIREMENTS

  1. Company name: Each company name will be unique as it is required to have the company name approval performed by the Hong Kong Companies Registry to ensure no repetition.
  2. Directors (aged 18 or over): Either a minimum of one director of any nationality or a company is allowed. There is no limit for the number of directors. Residency in Hong Kong is not a must. Directors need not be shareholders. Appointment of nominee director is permitted.
  3. Shareholders (aged 18 or over): Without any residency requirement, a minimum of one shareholder could be a person of any nationality or a company. A shareholder could also be a director. Nominee shareholders can also be appointed.
  4. A Company Secretary: Who must reside in Hong Kong or a body corporate that must have its registered office in Hong Kong. A sole director/shareholder cannot act as company secretary. A nominee secretary can be appointed.
  5. A Hong Kong Registered Address: Every Hong Kong company must have a registered office in Hong Kong. The registered address must be a local physical address and cannot be a PO Box.