Branch Office for Hong Kong Private Limited Company
The branch office offers a plethora of benefits of accounting and maintaining the operations to owners for expanding its company.
Well, once you are done with the establishment of Hong Kong Private Limited Company, a branch office can be started to proceed and submit for application.
According to the Hong Kong Companies Ordinance d, “Branch” is defined as “an extension of a Hong Kong registered company.” Therefore, the branch office is always under a parent company; all liabilities of the branch office will always bear by the parent company.
However, in order to operate the branch office, NAR1 filing is not required. (NAR1 – “annual return” is the update annually report to the government which stated all company particular had been changed over the year.)
Moreover, in order to declare the audit purpose and profit tax return, the parent company will need to complete consolidation for all branch office). What’s more, the business registration certificate for branch office will need to renew annually (renewal date will be the same as the parent company).
In short, the branch office offers a plethora of benefits of accounting and maintaining the operations to owners for expanding its company by just establishing a new brand name or outlets.
Merits of the Hong Kong Branch Office
- The process to register the Hong Kong branch office is very fast, easy, and economical.
- It is easier to extend the current portfolio of your business with the least effort of accounting and operation
Demerits of Hong Kong Branch Office
- A branch office is not a legally incorporated entity in Hong Kong.
- The parent company is accountable and responsible for all legal liabilities and debts of the branch office.
What are the Requirements of Branch Registration in Hong Kong?
Companies incorporated outside Hong Kong which If you want to establish a place of business within Hong Kong, then you need to deliver all the important documents to the Companies Registry for the registration process within one month of the establishment of the place of business.
- A valid address in Hong Kong (i.e. can be the same as your existing business registered address)
- A valid branch business name (a company name search for availability in advance is recommended)
- A valid Business Registration Certificate of your existing business
HK Branch Office Registration Process
As a matter of fact, every business does require the business registration form within one month after the starting date of the company. For HK Branch Office Registration Process, proceed for the business registration form.
Procedures of Branch Registration in Hong Kong are as follows:
- Start the new business under the name of this branch, and then proceed to Branch Registration within one month after its starting day.
- Collect all the essential information and documents for the formation of branch in Hong Kong.
- Prepare the branch office formation documents (delivery the document to address of branch’s owner for signature is optional).
- Submit the original signed company documents to the government department accompanied with the government fees.
- Monitor the whole process and keep the client update for any news.
- Pick up Business Registration from the government department.
- Deliver the documents to the client.
- Incorporate Your HK Branch Office with Startupr
Are you ready to register the Hong Kong branch office? I so, then Startupr should be on your radar. In fact, our pricing for HK Branch Office Registration is just $ 430 USD. You will be pleased to know that we have several years of experience in setting up the business in Hong Kong. We strive in preparing and managing each of the company’s filings to suit the needs of our clients.