Business incorporation in Hong Kong: The Process

Sat, Jan 3rd 2015, 13:11

Incorporating a company of any size in Hong Kong requires the perfect implementation of various typical statutory tasks.


Incorporating a company of any size in Hong Kong requires the perfect implementation of various typical statutory tasks. Setting up a company in Hong Kong is however less complicated that any kind of international assignment. The government offers excellent support to individuals or groups willing to form their own company. Every requirement takes its own time and effort to get fulfilled and this is what you have to understand if you want to set your business without any hassle. In order to set up company in Hong Kong successfully, you have to follow a pre-defined course that has been built to reduce the complication in the process.

Here goes the information and processes that you have to follow in order to set up company in Hong Kong:

Business Registration:

You need to register the company to successfully operate in the legal boundaries of Hong Kong. Whether it is a local limited company or a business operating outside Hong Kong, but has recently established a place in the Hong Kong market, company registration is a crucial task. Choose a unique name for the company so that it is not already taken. You also have the option to choose from the list of available names. Make a final selection and get the name approved.

Post that, you have to file a business registration application. You can fill the application online as well.

Licensing:

There are specific government permits that are always required when you are setting up business in Hong Kong. These are licenses, permits, approvals, and certificates that are needed for the smooth operation of the business. The Government of Hong Kong has well defined site that provides information about licensing and application tracking. You can make use of this facility and carry out the licensing process without any ado.

Taxation

Detailed information regarding the calculation of profit taxes and other tax obligations can be easily obtained. This is the responsibility of the business operators and employers and they have to learn the taxation levels before company set up Hong Kong.

Other crucial aspects:

Since it is going to create employment, your organization should provide all the perks of a well-established organization, such as providing MPF schemes, equal opportunities of promotion, discrimination-free working environment, minimum income level, and the rest.

If it is a manufacturing unit, registering a distinct property is the foremost requirement. You must take the necessary steps to manage and upkeep the property in order to extract the maximum benefits out of it.

 Go for these steps to get a glimpse of how to set up company in Hong Kong. The process is quite similar to various developed nations. The government is uber-friendly and if you have all the chores right, setting up your dream company wouldn’t take more than a month. There are various options available where you can invest your money and get an assured income. Find the right consultant who can do all the legwork and make the process easy for you.

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