Every investor who incorporates a company in Hong Kong is sure of faster growth and expansion to other Asian states. In fact, this has become an open secret for companies that want to grow their dominance in the high potential Asian countries. One of the investors, Johan Robinson, who came to Hong Kong in 2015 and opened a tech firm, indicates he wished he had arrived earlier. With the tech venture getting a lot of support from the government, Robinson’s company got funding and was soon partnering with other companies in China. It is now multinational.
Going into Hong Kong is the greatest thing that can ever happen to you and your business. To get into this potential market and enjoy the numerous benefits, the first step is registering a company. In this post, we discuss the most important things to know about registering a company in Hong Kong.
The company secretary
The company secretary is perhaps the most important component when registering a new company in Hong Kong. The Hong Kong administration puts a lot of weight on the company secretary because he serves as the link with the government agencies. Here are the main requirements of the company secretary.
- If the company has only one shareholder, he cannot serve as the company secretary. However, one shareholder can serve as the secretary if the company has two or more shareholders.
- The company secretary has to be a resident in Hong Kong.
- The secretary should preferably be a person who understands the regulatory business environment in Hong Kong.
Like in most countries, the company address is very critical. The physical address helps the government departments to follow and ensure you are compliant in all areas. For example, the Inland Revenue Department might follow any moment to ensure that all the records are kept well and taxes paid on time.
Note that if you select an agency like Accoplus, it can serve as a company secretary and physical address. This serves as a perfect starting point because you can save on costs and work with experts. Contact us to learn more about company secretary and address as well as how we can assist you to establish faster in Hong Kong.
The company structure
The company structure is very important when registering a company. It defines the levels of operations so that the value added to the Hong Kong economy can be established fast. If your company only has a few levels of operations, a simple structure will work well. However, you might require assistance to draft a complex structure if the company will be very big.
Other equally important things that you must have include Articles of Association, Memorandum of Understanding, and minutes authorizing the company incorporation in Hong Kong.
Often, getting these documents and requirements becomes overwhelming especially when people have other tasks back in their home countries. For example, you might be busy looking for finances to operationalize the company once everything gets into place. Contact a real agency for assistance.