How can a foreigner start a business in Hong Kong?
Table of Contents
- 1 How can a foreigner start a business in Hong Kong?
- 2 Can foreign entities do business in Hong Kong?
- 3 Who can start a business in Hong Kong?
- 4 How long does it take to register a business in Hong Kong?
- 5 How much does it cost to register a company in Hong Kong?
- 6 How can I start a small business in Hong Kong?
- 7 Can one person register a company?
- 8 How much do you need to start a business in Hong Kong?
- 9 Can a foreigner own a limited company in Hong Kong?
- 10 How to open a company in Hong Kong?
- 11 What are the business structures available for foreign companies in Hong Kong?
How can a foreigner start a business in Hong Kong?
Below are some steps to take in order to establish a new company in Hong Kong.
- Determine your company name.
- Choose a legal structure for your business.
- Register your company.
- Incorporate your business entity.
- Open a company account.
- Get permits and licenses.
- Hong Kong tax.
- Pensions and insurance requirements.
Can foreign entities do business in Hong Kong?
Hong Kong allows 100\% foreign ownership of companies, which implies that you can set up a wholly-owned subsidiary company in Hong Kong. Setting up a subsidiary is the most common and preferred option for most foreign companies, as it provides limited liability and numerous tax advantages.
Who can register a company in Hong Kong?
Any person or organization is allowed to register a company in Hong Kong. Further, a minimum of one shareholder is required, whether local or foreigner. Note that the shareholders must be over 18 years. At least one director, local or foreigner, is also required.
Who can start a business in Hong Kong?
Governed by the Companies Ordinance of Hong Kong, any person (foreign or local) above the age of 18 can setup a Hong Kong company. The most common type of business entity registered in Hong Kong is a private limited liability company.
How long does it take to register a business in Hong Kong?
The Certificates can normally be issued within 10 working days. Certificates in electronic form or hard copy form have the same legal effect..
How much does it cost to start a business in Hong Kong?
Fees
| Different Hong Kong entity types | Registration cost | Annual maintenance fees |
|---|---|---|
| PLC company | US$8,600 | US$4,900 |
| LLC with employment visa | US$15,205 | US$5,000 |
| Hong Kong company with China corporate bank account | US$11,655 | US$5,000 |
| Foreign trust | US$16,000 | US$11,600 |
How much does it cost to register a company in Hong Kong?
For Hong Kong businesses to receive their Business Registration Certificate, the company must make a payment (HK BR Fee) to the business registration office. There are two main types of registration that companies may pay for: 1 Year Business Registration: HK$250. 3 Year Business Registration: HK$3,950.
How can I start a small business in Hong Kong?
How to Start a Business in Hong Kong
- Select a Company’s Name. Select a unique name for the company before registering a business in Hong Kong.
- Register the Company.
- Open a Local Bank Account.
- Register a Local Business Address.
- Hire Employees.
- File Taxes.
What is required for company registration?
The documents for registering a Public Limited Company include identity proof, address proof, and PAN Card of all Directors and shareholders, DIN, DSC, Utility Bill, NOC from the landlord, Memorandum of Association, and Articles of Association.
Can one person register a company?
The Companies Act, 2013 provides that an individual can form a company with one single member and one director. The director and member can be the same person.
How much do you need to start a business in Hong Kong?
How do I set up a sole proprietorship in Hong Kong?
The only requirement for Hong Kong sole proprietorships is to register their business with the Inland Revenue Department’s Business Registration Office and obtain a Business Registration Certificate. Business Registration must be done within one month from the date of commencement of business.
Can a foreigner own a limited company in Hong Kong?
Hong Kong does not place any restrictions on foreigners for owning a limited company. You can be sole directors and shareholders in your Hong Kong company, there are no local resident requirements. Moreover, foreign entities can easily operate their Hong Kong offshore limited company from overseas.
How to open a company in Hong Kong?
Nowadays, unless you’re planning to stay in Hong Kong, you can only open a Limited Company. As I said, you can go to Hong Kong and open the company by yourself. However, the government requires your company to have an office and a company secretary based in Hong Kong.
How do I get a certificate of incorporation in Hong Kong?
Companies Registry provide one-stop company and business registration service. Upon the approval of the application in paper form, the Registry will issue a Certificate of Incorporation together with a Business Registration Certificate both in A4 size white paper to the applicant. Can foreigners open a bank account in Hong Kong?
What are the business structures available for foreign companies in Hong Kong?
A subsidiary company, branch office and representative office are the three business structures available for foreign companies who wish to establish a presence in Hong Kong. The choice of the specific business structure will depend on the foreign company’s business plans and goals.