Three simple steps for formation of company in Hong Kong

The fame of Hong Kong as a business paradise is evident with lots of multinationals operating from there. Over top 30 global banks either have their headquarters in Hong Kong or maintain huge presence there.

To expand faster into the Far East, the beginning most useful step is entering the Hong Kong economy, taking advantage of the huge Chinese market, and expanding to other states. The recognized form of business for investors into Hong Kong is the use of a Limited Liability company.Hong Kong, as a business driven economy, has maintained its focus on helping companies form faster, establish, and grow in the entire Far East. Whether you are at start-up or an established company trying to enter Hong Kong, you only need to register a limited liability company in just three steps.

Step One: Decode that you want to incorporate a company in Hong Kong 

The first step in the formation of company in Hong Kong is deciding that you want to enter the Hong Kong economy. If you are a start-up, this operational environment is very important for growth because the Hong Kong administration offers a lot of support. For example, you can check whether your operations fits in the Cyber Port program that provides both financial and administrative support.

The Hong Kong tax regime is also very straight forward while the banking system is very stable. Opening a bank account will be fast and accessing funds to support various projects will be equally easier. Many banks and companies already in operation will want to partner with you for faster growth and success. Once you make the right decision, move on to the next step of registration.

Step Two: Gather the right documents and get a company secretary 

The Hong Kong company ordinance requires that you must have the right documents including Articles of Association, Initial minutes that authorize company formation, photocopies of all shareholders and directors of the company, and physical address among others. One more crucial component that you must acquire is the company secretary.

The best way to get a top notch company secretary is using an agency. Agencies can assist you to hire a secretary or act as your secretary and provide physical address.

Step Three: Conduct the name search and incorporate the company at the registry offices

Before you can present the documents and make the application, it is important to do a name search for the company to avoid conflicts of interest. Then, present the documents and necessary fees to the company registry for the process to begin. It will take less than two weeks to have the company fully registered and certificate of incorporation released.

The final point before starting to operate in Hong Kong is getting a bank account. Though this does not prevent you to start operating, you will require a bank account to make payments, to get paid, and operate freely.

The outlined steps for formation of company in Hong Kong demonstrates how easy the process is and why you need to venture into this lucrative market. Remember that you can even make the process easier by contracting Hong Kong agents to carry the entire process. The agents can even serve as your secretary for up to a full year and ensure your presence in Hong Kong is rapid.