Company Formation in Hongkong
As we all know that Hong Kong is the most liberal economy in the world along with Singapore that is why opening a company in Hong Kong is simple, cheap and fast. Registered capital required in Hong Kong is much lesser than the majority of countries (only 10,000 HKD) and you can operate your business from any country in the world, you don't require living in Hong Kong for operating your business.
Apart from all this, Hong Kong is a major banking centre. After incorporation of your company here in Hong Kong a person is entitled to open a multi-currency business bank account (with e-banking) with worldwide recognized bank. This kind of feature is vital when you plan to do business worldwide.
Modes of company formation in Hong Kong:
Earlier, only Sole Trader Company was allowed to open in Hong Kong without even getting permission to reside there and also in those days person was required to have an office and a secretary in Hong Kong.
But nowadays, you do not require any office and secretary for starting your business in Hong Kong and also you can register a company here without even travelling in Hong Kong.
Company can be registered with two the modes
- Paper registration.
Benefits of Company registration in Hongkong
- No Income tax on profit earned from outside Hongkong.
- The Hong Kong tax system is simple and straight-forward.
- 100% Foreign shareholding allowed.
- Low cost of incorporation.
- Low Cost Annual Compliance.
- No minimum Capital requirement.
- One Person can form a Limited Company.
- There is no capital gains tax in Hong Kong.
- There is no withholding / TDS tax on interest deposits.
- No dividend Tax and No tax on royalty income.
- There is no net worth tax in Hong Kong.
Documents Required for Company Registration:
Following Registration Documents are required:
- Articles of Association.
- Company Registry Incorporation Form (NNC1).
- First Directors Written Resolution.
- Fees for company registration.
- Notice to Business Registration Office.
- Address, Nationality and Id details (passport) of directors, shareholders and company secretary.
- Confirmed number of shares subscribed by shareholders.
- Company's registered address.
Procedure for Company Registration
- Step 1: Choose company names for your proposed company.
- Step 2: Provide information about directors, shareholders and company secretary along with their required documents. And number of shares subscribed for by them.
- Step 3: Prepare the following registration documents:
- Articles of Association
- Company Incorporation Form NNC1
- Directors Written Resolution
- Sign all the registration documents and make the payment
- Step 4: Application for company incorporation will be submitted to company secretary and after that Certificate of Incorporation and Business Registration Certificate can be collected.
- Step 5: Prepare the following statutory items
- Articles of Association.
- Common Seal.
- Company Signature.
- Share Certificate and share register.
- Statutory Books
(Note: Online applications for Company Incorporation and Business registrations can normally be processed in an hour)