Hong Kong, a special administrative region of China and a former British colony, is a special business hub. While China regained it fully from British in 1997, most of the systems that drive Hong Kong are in many cases modeled on the British Common Law. It uses both English and Chinese that make many multinational capable of operating in the cosmopolitan region. To grow into the Far East, many businesses and multinationals consider entering Hong Kong as an important step.
Benefits of operating from Hong Kong
- Investing in Hong Kong does not have restrictions on capital requirements.
- By opening a limited liability company, investors are considered legitimate operators and not targeting to avoid taxes in their countries.
- The banking system in Hong Kong is enthralling, and investors can be sure of full protection for their deposits and interests.
- The tax system is very straight forward.
- Hong Kong does not hold tax on royalty, dividends, and interests.
- The process of opening a limited liability company is easy, cheap, and fast.
These benefits and much more are only possible when you register a company in Hong Kong. While some people may prefer opening the companies on their own, the better alternative is using agents. Here are the most important things to know about company formation agents Hong Kong.
Company formation agents Hong Kong help to form companies even in your absence
The process of forming a limited liability company in Hong Kong can be lengthy. It involves putting together all important documents including articles of association, initial minutes authorizing the formation of the company, and copies of shareholders and directors passports. In many cases, preparing these documents can be a challenge if you decide to do it on your own.
By using agents, you are sure of getting top notch documents because they utilize their many years of experience to help you establish operations in Hong Kong.
While opening the company on your own will require flying all the way to Hong Kong, Agents are different. Once you have decided to use agents, there will be no need to travel to Hong Kong. You will only send the needed documents such as copies of shareholders passports and proof of residence. The agents could assist you drawing other documents such as the articles of association.
You can use an agent’s office as company secretary or search for a perfect secretary
One key requirement of formation of a limited liability company in Hong Kong is the company secretary. The company ordinance indicates that you must, together with other documents, submit details of a resident company secretary. Note that the secretary can be an individual or a registered office in Hong Kong.
Registration using agencies help to cut cost by a huge margin
Using agents helps investors to cut on costs for registration and initial administration. For example, the agents will register the company for you so that you don’t start booking flights and hotels during the two weeks of registration. Besides, if you use the agent as your secretary, the agency’s office can be used as your company’s initial address. In some cases, you can even opt to share the secretary to keep the cost as low as possible.
Investors get useful advice to anchor their businesses once they enter Hong Kong
When you select the agents well, they will be a great pillar of the business when starting and establishing your presence in Hong Kong. They provide invaluable advice on the Hong Kong business environment and legal operations to ensure you are always on the right side of the administration.