Company Incorporation in Hong Kong
The Private Limited Liability Company is one of the common business entities in Hong Kong and has a separate legal personality; limited liability for owners, enduring construction and a strong public perception and so, raising capital and ownership is easier when compared to other occupations.
The basic requirements for company incorporation in Hong Kong are:
· The company name should be approved before the incorporation process starts.
· A minimum of one director and there is no limit for the maximum number of directors, the director should be a person or a company and must be 18 years of age and should not be convicted for any malpractices.
· A Hong Kong company can receive a minimum of 1 and maximum of 50 shareholders. The director and shareholder can be one or different person, and shareholder meetings can be taken anywhere in the world.
· Appointing a company secretary is mandatory; he should reside in Hong Kong. In case of sole a director, the same person cannot be appointed as a company secretary. A nominee secretary can also be appointed.
· Hong Kong companies have 2 kinds of shares, Issued, and Paid up capital, the authorized share capital can be increased from HKD 10,000 anytime after the company is incorporated.
· For getting a company registered in Hong Kong, it is important that you provide a local Hong Kong address as the registered company address.
· As per Hong Kong laws, information about company officers should be taken in public.
· Hong Kong adopts a territorial basis for taxation i.e. only profits derived from Hong Kong are subject to taxation in Hong Kong.
· It is also important that companies prepare accounts, and these should be audited annually by Certified Public Accountants in Hong Kong and the audited accounts with tax return must be filed with the Inland Revenue department.
To make this process simple take the help of local business service providers, they are proficient, and it’s easy and very convenient for them to get the company incorporated and also the business registered. These companies will take care of all the necessary formalities from start to end. This process is long and, so a good service provider is very important and will help in:
· Collecting necessary details and documents
· Choose a name for the company, and develop the necessary incorporation documents.
· Obtain business registration certificate from the Inland Revenue Authority.
· Assistance in opening a bank account.
· Assist with all the other formalities like visa, business license etc.
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About The Author:
Xigold Limited is a professional business services provider. Their experienced professional team provides comprehensive business services to their clients including company formation, accounting and auditing, commercial secretarial services, providing registered address and notarization. Xigold Limited provides consulting services to clients from Hong Kong, Mainland China, Singapore, Korea and other foreign countries. Xigold Limited not only provide business services of HK company registry, but also professional in establishing Singapore company and offshore company.
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