Setting up a Hong Kong private limited company not only is professional but also involves complex registry documents and procedures.
Hong Kong Company Formation & Registry
According to the Companies Ordinance (Cap. 32) of the Laws of Hong Kong, all companies incorporated in Hong Kong with limited liability are required to submit detailed information to the Companies Registry for public inspection. After the approval by the Hong Kong Companies Registry, a Certificate of Incorporation (CI) is issued and then the Hong Kong private limited company is officially incorporated.
Advantages of Hong Kong Limited Company Formation
There are many benefits for Hong Kong limited company formation. One of the obvious advantages is that a limited company owners are not required personally to bear the loss if they fail to run the business and incurs huge loss. The company’s shareholders will only be liable for any debt the company accrues according to the levels of their own investment and will not bear any debt beyond such investment.
Since a limited company is deemed to be a separate legal entity from its owners, the company will continue to exist and operate if the shareholders retire or die. Besides, all profits made internationally will not be taxed as long as it is booked and structured in a non-resident Hong Kong company.
Shareholder, Director & Company Secretary
A Hong Kong limited company may have only one shareholder and one director effective from 13 Feb 2004. Residency in Hong Kong is not a must. In general, the authorized share capital is HK$10,000 and it may issue at least 1 share.
According to the Companies Ordinance, each Hong Kong company must appoint a company secretary who has to make certain that the company is in compliance with the statutory requirements of the Hong Kong Companies Ordinance and must maintain the statutory books and records of the company. The company secretary must reside in Hong Kong or a body corporate that must have its registered office in Hong Kong. If a company has sole director/shareholder, the director/shareholder is not allowed to act as company secretary of the company. In case that you have no suitable person or company to be appointed as company secretary, we can act as your company secretary and provide company secretarial services.
Besides, a Hong Kong limited company requires a registered office in Hong Kong. A PO Box cannot be accepted. If you do not have a Hong Kong office, we can provide a Hong Kong registered office which is different with our address for receiving government letters and bank letters on your behalf. We can also provide exclusive telephone line, exclusive fax line and exclusive receptionist to receive your company’s call with company name answering upon request.
Hong Kong Company Registration
There are two alternative to set up a Hong Kong limited company, namely tailor-made and ready-made company. In the past, the fastest method to set up a Hong Kong limited company is to buy a ready-made company (commonly known as the ready-made shell company), which has been set up with a Certificate of Incorporation (CI) and then rename latter. However, with the introduction of the Hong Kong company registration in electronic form, you may authorize us to set up the company on your behalf. It may take about one day to complete the procedures.
For the newly established Hong Kong limited company, you just simply fill in our forms, together with the Hong Kong identity card or passport copies of the directors and shareholders via email or fax, we will then prepare all the documents for you. In general, the Certificate of Incorporation (CI) can be issued on the same day of the document filing.
For tailor-made Hong Kong company formation in electronic form, the procedures are:
1. Conduct company search to ensure the proposed name has not been used
2. Prepare company registration documents for your arrangement of signatures
3. Apply for Certificate of Incorporation and Business Registration, filing the formation documents
4. Prepare company kit including Memorandum and Articles of Association, share certificates, company seal, company chop, and a set of documents for bank account opening
After the Hong Kong company registry, we can help you to open bank accounts. Such services include searching the bank which matches with your requirements, understanding the bank’s requirements in advance for you, making appointment with bank, preparing required documents, following up the banking matters in respect of bank accounts opening in Hong Kong and so on. If you would like to set up your company website, we can also help.
For details of our Hong Kong company formation & registry services, please contact us now.
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