When investors cast their eyes abroad to expand their businesses or base their startups, the target is getting a perfect place that can help them develop faster and expand globally. Today, Hong Kong stands tall among its peers such as Singapore and Malaysia in the ease of doing business.
It has maintained the top position in the World Bank index of doing business while its banking system has been very stable for a long time. These, coupled with other benefits such as the huge potential for growth and top notch government support especially for startups make Hong Kong irresistible to investors.
To exploit this immense potential for growth in Hong Kong, you are required to open a limited liability company. Though you can do this on your own, it has a lot of logistical challenges such as traveling and preparing all the necessary documents. The best way of forming your company is contracting services in Hong Kong.
The main benefits of contracting company formation services in Hong Kong
You can form the company without traveling to Hong Kong
One main advantage of working with a Hong Kong agency to form a company is that you do not need to book a flight. The company agency will communicate to you through email, phone, and Skype to brief you on the process and have you send all the required documentation. This helps to keep the logistics of acquiring a visa, traveling, and presenting your documents to the company registry offices easy.
Company formation services in Hong Kong make the process easy and fast
According to the company ordinance, a company can only be formed when you present article of association, minutes of the first meeting of shareholders and directors, and business structure among others. However, many people cannot draw these documents easily because they are in different fields or are extremely busy.
To do this, agencies that assist people to incorporate companies will be there to draw the documents and ensure they are convincing enough. This makes the application faster and convenient.
You get assistance of contracting company secretary
For your company to be registered, you must have a resident secretary. This is a very senior position that ensures the new company operates within the law.
The company secretary is responsible for maintaining all the legal documents and updating the company systems when government policies change. Instead of using the lengthy and very costly method of advertising the position of a company secretary, the best method is using an agency. Registered agencies can be contracted to act as company secretaries or assist to contract the best persons.
Company formation services in Hong Kong help to cut on cost
One thing you have to contend with when forming a company abroad is that you need enough resources. You need enough resources to prepare the right documentation and money to run the company after registration.
Therefore, any effort that can help to cut costs during the early stages of company formation will be welcome. By contracting an agent to assist you in the process, you will cut costs in the following ways;
- You do not need to travel to Hong Kong for registration.
- You do not need to advertise for the position of the company secretary.
- The company secretary can be shared with another company if the operations will not be very busy.