Open a company in Hong Kong in 2024

West Union Group is the leader in company formation and account opening in Asia. Our company has its own office and employees in Hong Kong and is a certified company registration secretary in Hong Kong, China, Singapore.

Hong Kong has always been a popular country to register a business, especially these days. A prestigious financial center, an attractive taxation system, ease of registering a business, proximity to China - all these are strong advantages of Hong Kong over other jurisdictions.

• Company registration in Hong Kong
• Obtain a license and required certificates
• Opening bank accounts
• Providing a legal address
• Accounting, auditing and legal support for companies
• Liquidation of a Hong Kong company

• Want to do business with China or Hong Kong
• Want to optimize your tax burden by using a Hong Kong company as an intermediary
• Are you planning to engage in trade and export activities from China
• Are you planning to engage in IT, Fintech trading activities, logistics
• Planning to invest in companies or financial instruments in Hong Kong

There are several main organizational and legal forms for registering a company in Hong Kong:

• Limited Liability Company. The most popular for foreign investors is a company limited by shares.
• Private Enterprise. Managed by a private individual. The owner is responsible for all obligations.

• Partnership - Each partner is equally responsible for the activities of the other partners. There are: a general partnership and a limited liability partnership.

If you already have a foreign company, you can open:

• Subsidiary is an independent legal entity independent of the parent foreign company. Has the opportunity to enjoy all the benefits of doing business in Hong Kong and has its own obligations.
• Branch – is not a separate legal entity. The parent foreign company is fully responsible for the activities of the branch.
• Representation will not be a legal entity. He is mainly engaged in market research and acts in the interests of the parent company. Before opening a company in Hong Kong, it is advisable to first open a representative office in order to study the market situation, establish contacts and conduct an advertising campaign.

Hong Kong is a respectable country with an excellent reputation. Hong Kong is not in the "black" list of the EU and is not an offshore, in its classical sense. However, due to the territorial principle of taxation, Hong Kong has been holding the lead for business registration for a very long time. The fact is that if the company does not operate in Hong Kong, then it is exempt from paying taxes.

It is possible to open offshore in Hong Kong remotely. Foreign entrepreneurs choose a limited liability company to register an offshore company in Hong Kong.

1. Director. The company must have at least 1 director - an individual, a resident of any country. Other directors may be legal persons. A director can be a shareholder at the same time.
2. Shareholder. Individual or legal entity. Resident of any country.
3. Secretary. Must have a local licensed secretary.
4. A unique title. Name in English. The name of the company must include the designation of the legal form Limited.
5. Authorized capital. May be 1 Hong Kong dollar.
6. Legal address. An address where mail can be sent is enough.
7. License (if required). A license is required for: banking and insurance activities, investment fund, construction company, etc.

Director and shareholder (can be one person) must provide the following documents:

• Copy of the international passport certified by a notary;
• Proof of residential address. This could be a utility bill, telephony bill, etc.
• If the director and shareholder is a legal entity, then it is necessary to provide notarized corporate documents + a copy of the passport of the person representing the interests of the company.

• Checking the unique name in the Registrar of Companies.
• Submission of documents to the registration authority.
• Once a company is registered, it automatically registers with the Hong Kong tax authority.
• After registration, the following documents are obtained: NNC1, Certificate of Incorporation, Business Registration, Articles of Association.
• Production of seals and corporate documents of the company.
• If necessary, obtain a business license
• Certification and apostille of all corporate documents at the Hong Kong consulate
• Issue/Send original documents to the owner.
• Next, you can start opening a corporate account.

Registration of a company in Hong Kong is relatively fast and takes, on average, about two weeks. However, some of our clients want to speed up this process, and this is possible. Our company always has ready-made companies in stock. These companies did not conduct any activity and all reports were submitted for them. You can buy a company in Hong Kong and transfer it to yourself. The whole process will take only 3 days.

Whether a company operates in Hong Kong or outside of it, it must file financial statements and be audited.

Reporting requirements:

• The first tax return must be filed no later than 3 months from the date of issue of the first tax return, which the company will receive from the Hong Kong Tax Office 18 months after the company is registered.
• Subsequent tax returns are due every 12 months.

To prepare financial statements and undergo an audit, a company must provide:

1. Account Statement
2. Signed contracts with customers and suppliers
3. Invoices
4. Transport documents

The procedure for preparing and submitting audited financial statements:

1. Financial statements being prepared
2. Reporting is sent to the auditor for review
3. After verification, an audit report is issued
4. Audited accounts are filed with the Inland Revenue Department (IRD)

In order to open a turnkey company in Hong Kong as soon as possible, we offer one of 4 business support packages: Basic, Standard, Premium or Suite. Registration fee starts from $1100.
If you are interested in registering a company in Hong Kong with opening an account, then we suggest considering the “Luxury” package, the cost of which is $3600.

Our life is rapidly changing. However, starting a company in Hong Kong in 2024 is just as easy as it was years ago.

If you want to get additional information, find out the pros and cons of registering a company in Hong Kong, learn more about the licensed activity and possible options for opening an account for a Hong Kong company, our specialists will advise you.

Call the phone +852 3702 7632 or write a message to WhatsApp +4917660018815