How To Register A Foreign Company in Hong Kong
Have you heard all about Hong Kong and the benefits it offers new international businesses? Yes, there are other places that are great for starting a business, but the city of Hong Kong has been one of the top 10 countries for the ease of doing business for over two decades now. It also enjoys the position of being the world’s freest economy for the past two decades. Therefore, it is an excellent choice for starting your foreign company.
Any foreign incorporation company can be registered in Hong Kong as a non-Hong Kong company. However, for clients who wish to create brand-new Hong Kong entity, we recommend you to register a company via Startupr. Not only can we act as your company secretary and provide a Hong Kong business address, we have years of experience in incorporating companies and providing professional company services.
Registering a company in Hong Kong is very straightforward and fast, involving very few steps and can be accomplished within only a few business days. Although company registration in Hong Kong is quite straightforward, foreign nationals looking to register a company must also seek the services of a locally designated agent or corporate services providers to achieve the company registration process.
Below are some of the standard requirements you need to meet before registering a foreign company in Hong Kong.
Standard Requirements
A standard Hong Kong limited liability company will require at least one shareholder and one director, who may also be the same person, of any nationality. The company must, however, appoint a locally registered agent as the company secretary in Hong Kong and secure a legally registered address. There is no minimum paid-up share capital required for a limited liability company, and an entrepreneur can set up the company with as little as US$1 in share capital.
Company Registration Process
For ease of business set up in Hong Kong, it is imperative for foreign entrepreneurs to hire the services of locally registered agents or experienced professionals in the field of company registration to aid you through the legal processes.
To begin the process, an individual must have an original copy of their valid passport certified by a local CPA, public notary or law firm and submit a copy of the same to the Hong Kong Companies Registrar for review and approval before obtaining clearance to proceed with the registration process.
Upon receipt of the required due diligence documents, the local registered agent can prepare all the necessary documentation, certify your passport and submit the reports to the Hong Kong Companies Registrar for approval. Within 1 or 2 days, the company should be approved by the Registrar upon which you will receive the “Certificate of Incorporation” and other company formation documents by hiring a professional service online in Hong Kong.
Here is a brief guide to Hong Kong Business Registration: Step By Step Process
- Check the availability of your preferred company name
- Confirm corporate structure and appoint a minimum one director and shareholder
- Choose company secretary and secure registered address.
- Prepare the company incorporation forms
- Submit personal documents, such as passport and proof of address.
- Wait for the company to be created
- Collect your company certificate and other incorporation documents
Congratulations. You are now ready to start your business worldwide.
Bank Account Opening
To commence business operations, an entrepreneur can either opt to open a corporate bank account in Hong Kong or internationally. Currently, all Hong Kong banks require company directors or bank signatories to visit the bank branch in person for a bank vetting process before opening an account. Visiting a bank for vetting, however, does not automatically translate to securing a bank account; banks have the luxury of declining your application even after your visit.
To avoid the setback as mentioned earlier, we at Startupr advise our clients to seek multiple banking options outside of Hong Kong especially if our clients do not intend to conduct business locally. With our global banking partners, we can provide our client with corporate banking solutions in Europe, Asia-Pacific, Africa and the Americas without our client having to travel to visit the bank.
You can start your new Hong Kong company & open a bank account, ALL ONLINE!
- Register your company in HONG KONG
- FREE Registered Office Address
- From Contact to Company & Bank Account, All ONLINE!
Are you ready to incorporate in Hong Kong? The best way to get all of this done is to hire a professional firm like Startupr. We’ll take care of all the necessary formalities from the start to the end for incorporating a business in Hong Kong. We’ll take care of your company needs every step of the way, so you can focus on other important matters. Connect now for more details!