Hong Kong Company Registration

Hong Kong is strategically located in the heart of Asia and is well known for its highly developed free-market economy, driven by the principles of free port trade, low taxation, free markets, and a free enterprise system.

As a key financial hub for many business entities in Asia and a connecting hub with China, a Hong Kong company will usually make the application of a Chinese WFOE setup simpler. As the incorporation documents of Hong Kong companies are submitted in both languages (English and Chinese), a following company registration in Mainland China can run in a smooth and efficient manner.

With a perfect connection point between the West and the East, Hong Kong offers no legal restriction on inward or outward investments, company registration, foreign investment, or foreign exchange controls, and low taxes. Equipped with world-class infrastructure, a strong financial system, a stable economy, an attractive tax regime, and a complete legal system, these essential benefits are the main driving factors for considering a company setup in Hong Kong as a stepping stone to penetrate China and the markets of other Asian nations.

I. Incorporation of a Local Limited Company in Hong Kong

The Limited Liability Company (LLC) is categorized as private and suitable for small or medium sized businesses, or for large corporations. LLC is the most commonly used form of incorporated entity in Hong Kong and offers protection of personal assets, as it has a separate legal entity, separate from its shareholder members.

II. Accounting and Auditing

To maintain the enterprise's legal status and comply with the law, a Hong Kong corporate must sustain company management in annual compliance requirements, such as performing an annual audit of financial statements by a Hong Kong practicing Certified Public Accountant (CPA), and conducting annual filing with the Companies Registry (CR) and the Inland Revenue Department (IRD). Our professional service team in Hong Kong provides:

• Preparation and retention of accounting records, including annual accounts, according to Hong Kong accounting standards
• Conducting annual audits
• Auditing services for financial statements, profits, and taxes to stay compliant with the most current Hong Kong regulatory requirements and ensure all accounts are appropriately aligned

III. Open a Personal or Corporate Bank Account in Hong Kong

Opening a bank account in Hong Kong as a foreigner may be subject to stricter and additional requirements nowadays, for verification or identification purposes. You may need to provide proof of identity, proof of residence address, and business registration documents. Contact us to learn more about preparing the right documents and what exactly banks are looking for to have a successful bank account application.

Contact us today to learn more and receive a free checklist with a step-by-step approach for your Hong Kong company registration.