To have your own business in Hong Kong, you need to know the necessary steps and processes of how to register a company in HK. The process is very similar to registering in any other country, however in this case the company will be registered under the new name and can have its address.
The primary purpose of having a registered company in Hong Kong is for it to be granted registration privileges by the government. They are also required to ensure that all its assets and money are being appropriately managed and not deposited in other places. It is imperative because these kinds of companies can be banned from doing so.
How to register a company in Hong Kong, two main requirements need to be met. First, you must have an official business license which must be issued by the government. It can be done through an application that can be made at the office of the Revenue Department of the State Council or by filling out the relevant forms. The company should also be registered with the Commercial Registry Office.
The next requirement that the company must fulfil is that the Business Bureau must accredit it. The bureau will verify that the business has all the necessary permits and is operating legally. They will also confirm if the company’s business is on a legal ground.
Aside from having a business license, the next thing that you have to know how to register a company in Hong Kong is its shareholders. The number of shareholders that can be registered with the company should be at least three hundred and fifty. Any more than that will only give rise to a problem and could be a violation of the law. Furthermore, the number of shares that a company can sell at a given time should also be a minimum of two hundred and fifty shares.
The next step how to register a company in Hong Kong is for you to prepare the documents that the government requires in terms of establishing the business. It includes the Memorandum of Association and Articles of Association. These are the legal documents that are needed for the company to operate legally. It is also imperative that these documents are updated, especially when any new companies are incorporated into the business.
After knowing how to create a company in Hong Kong, you must also submit the necessary information to the government, such as your financial documents and business plan. These documents must be done for the government to make sure that all your financial records are correct and up-to-date. It is because they will also be used in the process of how to register a company in Hong Kong.
The last step in how to register a company in Hong Kong is that you must pay the fee needed for the processing of the documentation and start a business in Hong Kong. The fee that you will need to pay for this will vary depending on the number of documents you need to submit. These include the Memorandum of Association, Articles of Association, and the application forms. However, the fee for all of them can still be less than a hundred and twenty US dollars.
Once all documents have been submitted, the government will review it if there are any errors in it, which means that it is required that you provide a complete account of your company, including the business license that you need for the establishment. It is also essential that you prove that the business is run in an orderly manner. Otherwise, you could face a fine or jail. You also need to give them copies of the Memorandum of Association as well as any other documents that you have for proof of your business and that it is fully authorized.