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The most common organizational & legal form for doing business in Hong Kong is LTD. Both experienced businessmen & novice startuppers select it to register a company in Hong Kong. Starting a business in HK SAR requires enlisting services of professional agents knowledgeable about local legislation & experienced in complying with current regulatory requirements. 

The following criteria must be met to start a business in HK:

  • choosing a unique name & registering it with a relevant government agency;
  • having no less than 1 director (can be a foreigner but may not be a stakeholder);
  • having no less than one & no more than fifty stakeholders;
  • having a secretary (must be a physical person or legal personality (requires having a registered local office); must maintain company records & ensure compliance with HK legislation; if directors/stakeholders are one & the same person, then can’t be a secretary).

Requirements

  • having no less than one stakeholder;
  • having authorized capital (isn’t limited to HKD & can be in any other currency);
  • having a local address (can’t be a PO box);
  • submitting data on personnel, stakeholders & directors to the Company Register.

Taxes

Income tax is sixteen point five percent & only imposed on profits earned overseas. There’s no capital gains tax, VAT or dividend tax.

Things to Keep in Mind

  • annual financial reporting (invoices & tax returns) is required.
  • annual audits are conducted by certified public accountants.
  • annual payment of state duty is required.
  • making a written decision instead of the AGM is permitted.

Registering a company in Hong Kong requires:

  • having a company charter;
  • having a company name;
  • having a local address;
  • providing description of business activities;
  • providing information on key stakeholders;
  • providing information on issued shares;
  • providing documents confirming beneficiaries’ address & identity.

Conclusion

Having trouble registering an LTD in Hong Kong? Looking for advice on incorporating a company in Hong Kong?  Need an individual consultation on company registration in Asia? Why not contact IQ Decision UK? We can handle all that and a lot more.