When you’ve said goodbye to your employee life and become an entrepreneur, you are effective starting your new business. Any new business may grow big one day and get partners and investors in the future for further expansion. It is always wise to do one thing early: Incorporate the company.
Assume you’ve decided to setting up your company in Hong Kong. But how would you go about to register a company in HK?To register a new company in Hong Kong, it is straightforward.
The two methods are available but you’ll prefer the second method: Incorporate through an online platform.
The first method is that this can be done through contact a local agency in HK that provides such as service.
The second method is to find a reliable platform, and simply do it online. For example DIY!HKCom is such a platform that you can complete the steps to incorporate a new company online.
Remember beforehand you must decide on an appropriate corporate structure according to your primary activity and business plan. When this step is out of the way, you should follow through with the simple process below to incorporate your small business.
Step 1: Confirm the availability of your preferred name for your new business.
Step 2: Prepare the articles of association for your new business.
Step 3: Fill in formNNC1 (or NNC1G).
Step 4: Submit both the articles of association andthe form to the Companies Registry.
Step 5: Submit a Notice to Business Registration Office (IRBR1).
Step 6: Pay the government fees.
For a simple and clear work flow, you can always refer to this Hong Kong company formation guide.
Even when everything can be done through the online platform, when a company bank account needs to be opened, the entrepreneur will still have to physically present himself at the bank on the day of the bank account opening process.
Hong Kong is the place where the local companies arewell known for free of tax i.e. It’s a tax heaven!A HK Company is a very good holding company for one simple reason: It has signed Double Duty Exemption Agreement with many countries in the world. A example is that mostof the trading companies who do businesses with China would want to own a HKregistered company.