How to Establish a Company in Hong Kong
People who are thinking of starting their own business should consider establishing a company in Hong Kong. There are many benefits of doing so. Hong Kong’s economy is one of the most developed globally, and it is highly influenced by global trade and other countries’ actions. It is possible to open any business globally, but doing so can be a very challenging task. Opening a business is usually seen as a risk.
How to establish a company in Hong Kong? As you may know, Hong Kong has become one of the leading trading centres in the world. Millions of dollars in goods are traded every day between different companies. Companies in Hong Kong may choose to establish an international company or an internal one. However, it is more often advisable to open a global company because it provides better chances of reaching out to other countries. You can also earn tax benefits, which is a good thing when you open a Hong Kong company.
Several procedures must be followed. One of them is that the business owner must apply for a business license. It will ensure that the government will recognize your company as legitimate, and it will open the doors of opportunity for the business owner.
Another requirement for you to open a company in Hong Kong is to open a registered office. This office is known as the office of the Secretary of State. You must make sure that you get this registered office, which will help you establish a valid address for your company. You must apply for a patent on the product or service you wish to market before selling these products or services to the customers.
After you have gained a legal business address for your company, you must then file the incorporation articles. It will make sure that your company is registered correctly in the correct category with the government. You also must apply for a registration number from the Commercial Registration Office. It will ensure that you are legally represented and that the open business account you plan to set up in Hong Kong is valid. When all these requirements have been duly completed, you can then start your business operations.
The next step in establishing a company in Hong Kong is to hire an accountant or a lawyer to handle the company’s financial aspect. It is to ensure that your finances are in order. Once the accountant and the lawyer have done their job, they will submit your documents to Hong Kong government offices. Upon submission of the documents, your company can now operate freely.
The next step on how to establish a company in Hong Kong is to open an office. It can be done by securing a space from a property developer. However, if you do not want to invest money into the property market, some offices can be rented out. All you need to do is find a space in the Central Business District (CBD), one of the busiest areas in Hong Kong. The area has many high-rise buildings, and there are also offices of different businesses in the area.
When you know how to establish a Hong Kong company, you are now ready to hire staff to help run your company. You can either outsource the work to a recruitment agency or choose the other advertising option in the local newspapers. By employing more staff members, you will be able to expand your business. Opening a bank account is also a legal requirement in this process, and you will need the accountant’s consent at the end of the process. Once you have this setup, you can start to expand your business.
How to establish a company in Hong Kong