Hong Kong Company Registration

INTRODUCTION

Hong Kong is an international metro with abundant information and opportunities. With an area of 1,100 square kilometers and a population of over 8 million, Hong Kong is the freest trading port in the world. Together with sound infrastructure and complete legal system of its own, it provides an advantaged commercial environment to many entrepreneurs and traders.

THE ADVANTAGES OF HK

1.     Choice of company name is flexible. Company name may indicate district, country, and type of trades.

2.     Nature of trading is unrestricted, such as Finance, Import & Export, Medical, Publishing, Web, Trading, Docks and etc.

3.     Dormant company is allowed.

4.     Capital issued is not needed to be paid up when not in use.

5.     Use of Hong Kong company to register a Foreign Investment Company in China.

6.     Use of Hong Kong as platform to explore worldwide market.

7.     Low tax rate. Tax on source of income arising in and deriving from H.K.

8.     May enjoy SME benefit from Hong Kong Government SAR.

9.     Establish brand name, upgrading international image of your company.

10.   Use of H.K. Company to apply for trademark in China to protect your products.

HOW TO REGISTER HK COMPANY

1、HONG KONG COMPANY NAME

In Hong Kong, a trade name is much easier to define as long as you do not infringe the trademark of other companies. The name of limited company should be ended with “limited”. You can have English name or Chinese name or both. If you like, you can add country name or city’s name in front of or inside the company name, such as: France, USA, Italy, Japan, London, Beijing, Guangzhou, Shanghai and so on.

2、CORPORATE SHAREHOLDERS,DIRECTORS AND SECRETARY

At least one shareholder, one director and one secretary are needed for a Hong Kong limited company. A natural person aged above 18 years old is eligible for a shareholder and director or both. Shareholder could also be acted by legal person, as far as corporate structure is concerned. In Hong Kong a statutory secretary should be acted by a Hong Kong natural or legal person for and on behalf of the

company to ensure compliance with ongoing legal returns, accounts, audit and other requirements. Details of the company's directors, shareholders and secretary must be filed at the Companies Registry for public search.

3. REGISTERED CAPITAL

The registered capital for a Hong Kong limited company could be as low as HKD 10,000.00 and there is no need of capital paid up (capital injection), while capital duty should be levied at the rate of 0.1% by the government based on the size of the registered capital. Shareholder or director could decide later on the size of paid-up capital according to your business going. If you want to use this company to invest in China, you’d better raise your registered capital as high as one million RMB so as to reach the criteria required by the Chinese government.

4. REGISTERED ADDRESS

Hong Kong MICEDA can provide the registered address for you if necessary.

PROCEDURE OF INCORPORATION

Fill out an application form→ Payment→ Sign statutory documents personally→ Forward to relevant departments of Hong Kong government immediately→ Finish within 7-15 working days→ Collect the documents at designated office

THE SERVICE FEE AND TIME

The service fee is 5800 RMB and it needs about from 6 to 8 days.

SERVICE WE FOLLOWED FOR YOU

At WEBOND, we are able to prepare all the application forms and relevant documents and take care of all the procedures for you.

Certificate of incorporation

Business license

16 copies of memorandum and articles of association of the company

Share book

Statutory book

Four pieces of chops

A book of receipt

BANK ACCOUNT OPENING

Enterprise bank account can be applied after setting up the company .The client can choose local account in Hong Kong or offshore outside the Hong Kong. Shareholders and directors have to handle in person when opening a new account. WEBOND can help you open Hong Kong accounts in GUANGZHOU, BEIJING, SHANGHAI, TIANJIN etc. For details, please refer to “Bank accounts specification”.

FOLLOW-UP SERVICE

1.Accounting, auditing, tax layout and tax return and fee: If a company has business running on in Hong Kong, account book should be well kept monthly for an annual audit before you carry on a tax return to the Inland Revenue. WEBOND can arrange bookkeeping and auditing for you in time of need. Every company is required to finish tax return on the 18th month from the date of company incorporated in Hong Kong. Submission of “nil” profits tax return without auditor’s report and financial statement would be accepted for not yet commence business corporation, otherwise, the auditor’s report and financial statements must be submitted together with profits tax return after making the account books ready.

2. Taxation in Hong Kong: Hong Kong has created an image of low tax and few tax environments. The distinctive taxes for enterprises are Income taxes (salaries tax, profits tax); profit tax is levied at rate of 15% for unlimited and 16.5% for limited companies accordingly. Salaries tax ranges from 2% to 17% on net income (before deduction of the allowances). There are several features of the Hong Kong tax system. For most commodities, there are no import tax and export tax.

3. Business secretary: a commercial secretary would be an alternative offered by WEBOND. WEBOND commercial services include information and WEBOND processing, taking order, trade documents processing, telephone answering, travel arrangements, meeting planning, telephone transfer, mailing service, research work, and telephone survey. A secretarial service could be done virtually through e-mail, fax, telephone and the Internet to small, medium-sized, and home based businesses. Whatever gets the job done--non-traditional, but it works.

OTHER SERVICES IN HONG KONG

The providing services include of Checking the company names , Holding a Directors meeting ,preparing to make the legal documents,  writing the articles ,providing the company registered address and legal secretary ,taking the place of the applicant to sworn the founded company in registered bureau, collecting company registration certification.