Hong Kong Company Incorporation FAQ
HK FAQ Company Incorporation
Frequently Asked Questions About Company Incorporation in Hong Kong
General Questions
1. What are the basic requirements for incorporating a company in Hong Kong?
At least one shareholder and one director (can be the same person).
A registered office address in Hong Kong.
A company secretary.
A business registration certificate.
2. What types of companies can be incorporated in Hong Kong?
Private limited company (most common)
Public limited company
Limited by guarantee company
3. Can a non-resident incorporate a company in Hong Kong?
Yes, non-residents can incorporate companies in Hong Kong.
Incorporation Process
4. How long does it take to incorporate a company in Hong Kong?
The process can typically be completed within a few days, especially if using electronic filing.
5. What documents are required for incorporation?
Incorporation form (NNC1)
Memorandum and Articles of Association
Proof of identity for shareholders and directors
Registered office address
Business registration certificate
6. What are the fees involved in incorporating a company?
Government fees (for incorporation and business registration)
Professional fees (for legal and accounting services)
Company Structure and Operations
7. What is the minimum share capital requirement?
There is no prescribed minimum share capital, but a nominal value of HK$1 is often used.
8. Is it necessary to have a local director or secretary?
Yes, a local director and secretary are required.
9. What are the accounting and tax requirements?
Companies must maintain proper accounting records.
Annual financial statements must be prepared and audited.
Corporate tax is payable on profits.
Additional Considerations
10. Can a foreign company set up a branch in Hong Kong?
Yes, foreign companies can establish branches in Hong Kong.
11. What are the benefits of incorporating a company in Hong Kong?
Strategic location
Strong legal and financial infrastructure
Efficient tax system
Access to the Chinese market
12. Are there any restrictions on foreign ownership?
There are generally no restrictions on foreign ownership of Hong Kong companies.
For more detailed information, you can refer to the following resources:
Hong Kong Companies Registry: https://www.cr.gov.hk/
Bestar Asia: https://www.bestar-asia.com/post/hk-company-faq
How Bestar Can Help with Company Incorporation in Hong Kong
Bestar plays a crucial role in the process of incorporating a company in Hong Kong. We can provide expert guidance and assistance with various aspects of the process, ensuring compliance with local laws and regulations.
Here are some ways in which Bestar can help:
Company structure advice: We can help you choose the most suitable company structure based on your business goals and objectives.
Drafting of documents: We will prepare the necessary legal documents, such as the Memorandum and Articles of Association, ensuring they comply with Hong Kong company law.
Compliance with regulations: We will guide you through the entire incorporation process, ensuring that all legal requirements are met.
Contractual matters: We can assist with drafting and reviewing contracts related to your business, such as lease agreements, employment contracts, and supply contracts.
Intellectual property protection: We can help you protect your intellectual property rights, such as trademarks, patents, and copyrights.
Financial planning: We can assist with financial planning, including budgeting, forecasting, and cash flow management.
Tax compliance: We will ensure that your company complies with all tax obligations, including corporate tax, salaries tax, and property tax.
Accounting systems setup: We can help you set up an efficient accounting system to track your company's financial performance.
Financial reporting: We will prepare your company's financial statements, including the balance sheet, income statement, and cash flow statement.
Auditing: Our partnered firm can conduct audits to ensure the accuracy and reliability of your financial records.
By working with Bestar, you can streamline the company incorporation process, minimize risks, and ensure that your business is well-positioned for success in Hong Kong.
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