Forming a company in Hong Kong is no longer a complicated procedure. It used to be that a company had to have a director, a secretary, and some printers. It took a lot of effort and was expensive. In recent years the number of companies has boomed, and the cost of setting up a business in Hong Kong has gone down significantly. It means that you don’t need a high income to start your own business.
Forming a company in Hong Kong is very simple and can be done very quickly. You do not even have to pay a small fee to apply for company registration. Companies are now able to apply online, through fax, and by post. Also, you can run your business at any time that you like. There is no need to wait until the office opens each day. You can operate your business at any time. That is a significant advantage today when it comes to running your business from home.
The next step you should take before registering your new company in Hong Kong is to get all the relevant registrations done. You will need to change the name of your business and then add the members of the company. Also, you will have to register in the primary office.
When you have all these preparations complete, then you should get a copy of the by-law document. It will include the Memorandum and Articles of Association. You will have to ensure that the company name you choose is not already trademarked. If it is, then you will have to change the name of your company. Your business should not be registered using your real name but using your company name.
The next step you need to take is to register the officers of the company. It is recommended that you choose a director who is a professional accountant. He will be the one who should take all the decisions in the company. Once all the officers are approved, you can hire the company secretary to handle all day-to-day work. The secretary will be the one who answers calls and emails and deals with the financial aspect of the business. He is also the one who delivers the reports to the directors.
When you are done with all these procedures, you need to ensure that you have all the company’s assets. These are all the things that make up the black book’ maintained for all the company’s financial transactions. If you want to save a lot of money when running your business, you need to ensure that you do not have any liabilities when carrying out the operations. It is essential to keep this in mind when you are forming a company in Hong Kong.
You should also check the jurisdiction law in which you are operating your business before you proceed further. There may be laws that you need to comply with for the operation of your company. It would help if you researched these laws so that you can follow them strictly. If you have any problem in this regard, you can seek the help of any attorney. They are well versed in this matter and will advise you on the best procedure to follow.
Once you have these formalities done, you can proceed further and open your company. You can go to a registered office or an address that is not too much far from your residence. It will help you get a better reputation in the market, and people will approach you for your business dealings
After a few months, you will be able to get your official documents registered at the Companies Registry. After this, you will not find it difficult to operate your business, as you will have a permanent address. After that, you can deal with the clients directly, and in this manner, you can gain your clients’ trust.
After getting all the legal formalities completed, you can proceed further and open a bank account for your company. You can give your company details like the name, the registered office, the nature of the business and the staff involved in its operations. After this, you will have to submit the annual returns to the statutory departments. You will have to pay a nominal fee for this service. Thus, you can see that company formation in Hong Kong is not a complicated task. All you need to do is follow the given instructions properly, and you will see the positive results of your efforts.