Branch Office for Hong Kong Private Limited Company
A branch office with a Hong Kong Private Limited Company offers a plethora of benefits in accounting practices
and the day-to-day operations of an owner during his expansion journey.
Well, once you are done establishing a Hong Kong Private Limited Company, you may start a branch office by submitting an 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 handled by the parent company.
For a branch office, a NAR1 form is not required. (NAR1 – “annual return” is an annual report to the government that keeps track of all changes to the company particular over a one-year period.)
Moreover, in order to declare an audit purpose and profit tax return, the parent company will need to complete consolidation for all branch offices). What’s more, the business registration certificate (BRC) for the branch offices must be renewed annually (renewal date is the same as the parent company).
In short, a branch office offers many benefits in accounting and and the operations to owners when expanding a company.
Merits of the Hong Kong Branch Office
- The process to register a Hong Kong branch office is very fast, easy, and economical.
- It is easier to extend the current portfolio of your business with the least changes in accounting and operations
Demerits of Hong Kong Branch Office
- A branch office is not a separately 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 to Register a Branch in Hong Kong?
Companies incorporated outside Hong Kong: If you want to establish a place of business in Hong Kong, then you need to deliver all the important documents to the Companies Registry 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 (BRC) of your existing/parent 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 branch formation in Hong Kong.
- Prepare the branch office formation documents (delivery the document to address of branches’ 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 your Hong Kong branch office? If 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.