Hong Kong has a thriving economy and is a hotspot for international finance, making it an ideal place to start your business. But opening a company in Hong Kong isn’t as simple as opening one in your home country. With foreign investment in Hong Kong increasing and the existing business environment evolving, it’s essential to understand the steps you need to take to open your company.
Whether you want to start a new company or expand with a new subsidiary, taking the first steps can be daunting. Being in business can be confusing and complicated, but you can succeed with a bit of knowledge and careful planning.
Open a Company in Hong Kong – The Steps
In general, the steps to opening a company in Hong Kong are:
Open an office. Register your company. Apply for the licenses required by the Hong Kong Companies Registry. File your first annual return. Enroll your company’s Memorandum of Association (M.OA.) Apply for a Certificate of Incorporation (C.I. or C.I.).
We’ll discuss each of these steps in detail below:
Step 1: Register Your Office and Open a Company in Hong Kong
First, you have to register your office and open a company in Hong Kong by appointing professional managers for your business. You will also have to pay a deposit for your registered office at this stage.
Make sure that you have enough funds to cover the costs of your new branch or subsidiary. You also need to cover the costs of your professional managers, such as their salaries and per diems.
Step 2: Apply for the Licenses Required by the Hong Kong Companies Registry
Once you have opened an office in Hong Kong, you need to apply for a set of licenses from the Hong Kong Companies Registry. These include a Certificate of Incorporation and a Business Registration Certificate.
Step 3: File Your First Annual Return
After you have applied for the licenses required by the Hong Kong Companies Registry and opened your office, you will be required to file an annual return.
The annual return is an application that details your company’s financial information. While your application will be accepted, you will be unable to receive a Business Registration Certificate and Certificate of Incorporation until the annual return is filed.
Step 4: File an Application for a Certificate of Incorporation (C.I. or C.I.)
The Certificate of Incorporation (C.I.) is a document that confirms your company’s existence, along with details about the company, shareholders, and directors. Once you have filed your annual return, you will receive your Certificate of Incorporation.
You may also be required to apply for a Certificate of Incorporation if your business structure is changed, such as when a new director or shareholder joins the company.
Step 5: Enroll your Memorandum of Association (M.OA.)
The Memorandum of Association (M.OA.) is a document that allows the Registrar of Companies to learn about your company’s ownership and management structure. Once the M.OA. is enrolled, the Registrar will issue a Certificate of Incorporation.
If you are changing your company’s ownership and management structure, you will also have to apply for a new Memorandum of Association.
It May Be Easier to Have Someone Do All of This for You
Opening a company in Hong Kong is typically complicated, with many details to consider. You might fight it easier to have someone else register business hong kong for you. They can do the work of registering and filing documents for you, often saving a lot of time and money.