Opening a limited liability company is the secret to getting access to the huge Hong Kong and Chinese market. Hong Kong has gone to great lengths to making the process as easy and fast as possible. By operating as a separate administrative region of China, Hong Kong has managed to maintain complete independence that makes it easy to pass legislations that encourage more investors to come and do business.
Whether you want to reside in Hong Kong or want to run the company from abroad, the thrill of having presence in this great city is unrivalled. Over 30 international banks have their branches in Hong Kong, most people speak English, and doing business is pretty easy. To enjoy this unique business environment, you need to know everything about formation of Hong Kong limited company: What fee?
Get all the requisite documents and an address
The first step is gathering and preparing all the requisite documents for the registration process.
- Copies of your passport
- The names (ideas) for your company
- The address of your correspondence
- Address of a Hong Kong-based secretary.
- Preparing articles of association
- Preparing memorandum of association
The entire process takes about 2 weeks. What many people especially those new to Hong Kong find difficult is getting a secretary and physical residence. Indeed, this can make your registration to last even longer. A better way to do this is using an agency. There are dozens of agencies that can help you get a secretary and office address. If your company will not be very active, the agency can organize for you to share office and secretarial services.
Once the company has been registered, additional 2 weeks will be required to open a bank account in Hong-Kong. This makes the entire registration take 4 complete weeks to have everything up and running. However, you do not have to follow this very lengthy route. In fact, you do not even need flying all the way to Hong Kong because the agency can complete the task for you.
Using agency to register your company
Though the process of registering your company will be the same, an agency has all the expertise and will complete it without a hitch. To use agency services, all that you need is contacting it, agreeing to terms and conditions, provide the required documents, and clear the needed fees.
The agency will present the documents to the authorities, get a secretary, physical address and everything else to have your company registered within the shortest time possible.
It will be about 2 weeks and your company will be fully registered. However, most Hong Kong banks insist that the company owner must present himself/herself for the corporate bank account registration. This will be a great moment to meet your agency, secretary, have a view of the office, and appreciate the hospitality of Hong Kong.
Selecting a good agency to assist you register a company
To calculate the total fee of registering a limited liability company, opening a bank account, is important to get assistance from the agency. In many cases, the agency will not just include the cost of secretarial services and office address. It is, therefore, important to select a good agency that understands its work, has professional staff, and is affordable.
Make sure to share the scope of your business well, anticipations, and everything else that can help get the right office with ample space and feel of your brand. For example, will you be traveling to Hong Kong regularly and requiring a boardroom or will the secretary complete all tasks? To get the actual cost of your business, make sure to contact the agency to share the details and get a quotation.