Overview
Known as an international hub, 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 and Formation Service in Hong Kong
KernelBiz provides one-stop company formation and post-formation support services in Hong Kong, for both global startups and SMEs. Our agents are experts in all aspects related to company formation in Hong Kong and will be more than happy to assist you every step of the way and make the process smoother and easier. From ensuring all your company requirements are met, to set up procedures, maintenance, and more, our company registration services make starting and running a firm in HK easier.
The benefits of setting up a business 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
KernelBiz offers professional guidance and services for your business; our company formation services in Hong Kong provide clients the fastest, most robust, and cost-effective company formation solutions. All of our consultants have many years of experience and will assist with documentation compilation, application completion, and any other company registration services and advice in Hong Kong.
Whether you are seeking company formation services for a brand-new company in HK, or a business that is incorporated overseas but has a branch in HK, the experts at KernelBiz will be more than happy to answer any questions you have! 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 |
Frequently Asked Questions About Setting Up a Business in Hong Kong
Why is it important that I hire a professional service firm like KernelBiz when forming a company in HK?
Hiring experienced professionals who have agents who specialise in company formation in Hong Kong ensures that all the necessary steps will be taken care of from beginning to end. This leaves you with more time to concentrate on the bigger picture; focusing on your business and maximizing your company’s workflow.
I have a business abroad, what are the benefits of forming an offshore company in Hong Kong?
Compared to other countries, Hong Kong has a low and simple tax system with rather uncomplicated company formation regulations, plus a simple legal framework, which makes Hong Kong the ideal city for companies to form an offshore company as a way to grow their business.
I’m interested in forming a company in HK, what is the process like?
Generally, any company formation is processed at the Hong Kong Companies Registry, and the process there is swift and simple. If your company formation or registration application is submitted online, it usually takes a couple of hours to complete the setup.
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
- Propose an English and/or Chinese name for name checking; or
- Select a shelf company from our Hong Kong Shelf Company List
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
- Email to [email protected]
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].
