A foreigner needs only to know the right method required in registering a company in Hong Kong. E-Registry is an online registration platform that eases all the main processes. It is equally proof of the ease that comes with doing business in Hong Kong. As a founder, registering a company in Hong Kong should be a major ambition to fulfill. Hong Kong keeps attracting big investors to its territory. At the moment, in 2021 the district experiences political changes. It is difficult to predict what kind of an outcome they may have for cryptobusinessmen. Legal consultants who permanently track the changes and updates may help you with making the right business choices.
While it is important to make a profit with ease, it is a prerequisite to the first register. Thus, you need to know what you will enjoy by having a registered company in Hong Kong.
The economy in Hong Kong is liberal now. This has influenced how founders go about their company registration in Hong Kong. Hence, the reason why registering a company does not take much time and also comes with a cheap price an average business should afford.
The capital requirement to register a company in Hong Kong is fair enough for an average business to afford it. This is not the same thing when compared to other places.
A founder can determine the place from where he will be running his business. This may be in Hong Kong or outside the city.
A company can enjoy the opportunity of opening a bank account that accepts multiple currencies. The city has made this possible through various partnerships with banks that hold a global reputation.
A fair system of taxation is in place for registering companies in Hong Kong. Stakeholders can stay in their country of residence and then apply for “offshore company” status to enjoy the benefit of being taxed on only the profit generated from doing business in another territory.
Steps Needed in Registering Company in Hong Kong
A person who has the interest to register a company in Hong Kong may either decide to be present in Hong Kong for registration or complete the registration online. Therefore, he can choose to do the registration by filling in the necessary information on printed documents or use the method that requires only a device with an internet connection. Nevertheless, it is compulsory for companies operating in Hong Kong to have an official base from where their business activities will be implemented. It is possible to secure a nice place for the purpose of business from agencies that deal in office rentals. They charge around 5,000 to 6,000 HKD per annum.
Procedures to Follow for company registration in Hong Kong
Pick a new name that is not already in use:
It is very necessary to pick one that is not already in use by another enterprise. The government agency in charge of company registration must approve it. This is in a bid to ensure companies have unique names to recognize their brand.
Decide on a preferred type of business
Founders have a good number of options of business structure to choose from. Among various structures of business in Hong Kong, a limited liability company tops the list of popular business type foreigners registered. This is because of the flexibility and ease that comes with doing this kind of business from anywhere they live in the globe.
Apply for Registration
This is the last stage required to complete company registration in Hong Kong. It can be done physically or online at the Hong Kong Companies Registry.
Important Documents for Registering Company in Hong Kong
A passport
Proof of location
A questionnaire to fill in detailed information about the founder with the inclusion of his passport ID number. Information concerning the shareholders and the person overseeing the company’s activities is also expected to be included. A company controlled by a single person can have a person as both the one in charge and shareholder.
After these documents have all been submitted, the registration of a company in Hong Kong qualifies the founder to receive a certificate that will be sent within 2 hours. It will however be issued once the identity verification of parties is confirmed online. It could be made via Skype.
For a company that has some specific attributes, a set of already signed documents that need to be filled by the director and shareholder will be sent for them to append signatures and returned by a courier.
Conclusion
The economy of Hong Kong is one of the most liberal in the world for business activities now. This is why it is an interesting factor for company registration in HK. A business owner with ambitions to expand his businesses offshore will definitely find the information we have provided useful.
For fast business solutions, we suggest you consider other options as currently, the district experiences political changes that may lead to economic changes too. It is difficult to predict what kind of an outcome will be. But, it is always possible to find a convenient and safer way for realizing your business interest in the crypto industry.
