Hong Kong Company Formation

Overview – HK


Hong Kong is strategically located at the heart of Asia with easy and efficient regional travel. The city is also one of the most well-known financial markets and free economies in the world. Its strategic location facilitates entry into international business, serving as a gateway to other important markets such as China, and the rest of Asia.

Company Registration Service in HK

KernelBiz provides one-stop company formation and post-formation support services in Hong Kong, for both global startups and SMEs. Our experts can assist you every step of the way and make the process smoother and easier. From ensuring all your company requirements are met, to setup procedures, maintenance and more, our company registration services make starting and running a firm in HK easier.

The benefits of setting up a company in Hong Kong are numerous, and include: -

  • Absence of foreign exchange controls
  • Access to multiple financing channels
  • High quality labor force
  • Independent legal system and among the world’s most corruption-free cities
  • Laissez-faire market policies with minimal government interference
  • Low and simple tax regime with profits tax at 8.25% on the first 2 million HKD assessable profits and 16.5% on balance
  • Offshore claim for non-HK source profits (Territorial Principal of Taxation)
  • World class infrastructure

By engaging KernelBiz company formation services, our Hong Kong clients benefit from a fast, robust and cost-effective solution. Our consultants have many years of experience and will assist with documentation compilation, application completion and any other company registration advice.

Whether you are seeking company formation services for a brand-new limited company in HK, or a business that is incorporated overseas but has a branch in HK, the experts at KernelBiz can assist. Please contact us immediately at (852) 2110-0018 or by email at [email protected] for a free consultation today!

 

Basic Information
Political Stability Good
Legal System English Common Law & Basic Law
Official Languages English and Chinese
Corporate Requirement
Minimum Number of Shareholders 1
Minimum Number of Directors 1
Local Company Secretary Yes
Local Registered Address Yes
Local Designated Representative for SCR Yes
Disclosure Requirement
Disclosure of Beneficial Owners on Public File No
Disclosure of Shareholders on Public File Yes
Disclosure of Directors on Public File Yes
Annual Requirement
Annual General Meeting Yes
Filing of Annual Return to government Yes
Preparation of Audited Financial Statement Yes
Tax filing Yes

 

Formation Requirement


1. Company Name

  • A company may be registered with an English name, a Chinese name or both.
  • Companies are suggested to avoid using names that may resemble a registered trademark or is too alike to the well-known names of another company.

2. Share Capital and Shareholder Requirement

  • Minimum one shareholder who can be natural person or corporation. A private limited company can have maximum fifty shareholders.
  • There is no par value per share.

3. Director Requirement

  • Minimum one director who must be a natural person aged eighteen or above
  • There is no residency restriction for director(s)

4. Hong Kong Company Secretary

According to Hong Kong Companies Ordinance (Cap. 622), each limited company must appoint a Company Secretary who must be either be: -

  • A natural person aged 18 or above, ordinarily resides in Hong Kong; or
  • A body corporate with its registered place or a place of business in Hong Kong

Kernel is capable in providing Company Secretary Service to ensure the company’s statutory obligations are complied with.

5. Designated Representative

According to the Amended Companies Ordinance effective from 1st March 2018, each Hong Kong company must appoint a Designated Representative to assist law enforcement body to inspect the Significant Controller Register upon demand.

The Designated Representative must either be: -

  • The company’s shareholder / director / officer who ordinarily reside in Hong Kong
  • A lawyer, certified public accountant or a licensed Trust and Corporate Service Provider (TCSP) practicing in Hong Kong

Kernel is capable to act as Designated Representative for Hong Kong companies to comply with such requirement.

6. Registered Address

Each company must have a local registered address to receive government correspondence, display its company name and store company’s statutory records.

Kernel is capable in providing Registered Address Service to comply with the requirement and to receive government correspondence. If clients would like to use the same address to receive their business correspondence, they may also consider engaging in our Correspondence Address Service.

Formation Procedure


Step 1: Select company name

 

Step 2: Provide shareholder and director information

  • Copies of ID or passport for each Shareholder and Director
  • Copies of latest residential address proof of each Shareholder and Director
  • Please specify the number of shares applied by each shareholder(s)
  • Please specify the paid up share capital for each shareholder(s)

 

Step 3: Provide Hong Kong Company Secretary, Designated Representative and Registered Address information (not required if engaged in our annual service)

  • Copies of ID and address of Hong Kong Company Secretary
  • Identification documents of the Designated Representative
  • The Hong Kong Registered Address of the Company

 

Step 4: Submit application via any one of the following methods

 

Processing time

  • Online registration – 2 working days (terms and conditions applies)
  • Tailor made company registration – 7 working days
  • Shelf company registration – 2 working days

 

Our representative will contact you within one working day after we received the above information.

Annual Maintenance – HK Company


Statutory renewal of company

Each HK Limited company must comply annually with below statutory requirement: -

  • Submission of Annual Return to Companies Registry
  • Renewal of Business Registration Certificate
  • Arrange Annual General Meeting

By engaging in our Annual Company Secretary and Annual Registered Address services, we will assist our clients to comply with the relevant requirements.

Important : If the Company failed to comly with above statuotry obligations, the Company and every repsonsible person are liable to prosecution.

Annual Audit and Tax Filing

Preparation of Annual Audited Financial Statement

According to the Companies Ordinance, each Hong Kong Limited Company must appoint an independent auditor who holds a Practicing Certificate issued by the Hong Kong Institute of Certified Public Accounts to perform annual statutory audit on its financial statements unless it has officially declared as dormant. The annual audit arrangement is mandatory regardless of whether the Company’s business activities are conducted in Hong Kong or outside of Hong Kong.

Filing of tax returns

The Company will need to submit its Profits Tax Return and Employer’s Tax Return to the Inland Revenue Department.

The Company must arrange to submit the duly signed Profits Tax Return together with a set of audited financial statements and tax computation before the prescribed deadline. Failure to comply may result in penalty being imposed by the Hong Kong Government.

The Company must arrange to file its Employer’s Return to report annual remuneration details paid to its employees regardless of whether such employees carried out their duties inside or outside Hong Kong.

Should you require additional information for the annual renewal services, please do not hesitate to contact us at [email protected].

 

Contact Us

The Office

  • Address : Unit 1101-2 11/F, 29 Austin Road, Tsim Sha Tsui, Kowloon, Hong Kong
  • Email : [email protected]
  • Secondary Email : [email protected]
  • Phone : +852 2110 0018
  • Fax : +852 2110 3348

Business Hours

  • Monday to Friday : 9:00am - 6:00pm (GMT+8)
  • Lunch hours : 1:00pm - 2:00pm (GMT+8)