How to Process for Hong Kong Company Registration?

Hong Kong is considered one of the most popular locations for business which attracts entrepreneurs and investors from all around the world. The country has been rated "the world's freest economy". It has impressed the world with its entrepreneurial spirit and creativity thus developing as an international financial center. 

Hong Kong is favored by global entrepreneurs and investors due to its acclaimed legal system, easy taxation system, well-established infrastructure and communication facilities, low taxation rate, and expert professionals. Due to the absence of foreign exchange controls, funds are capable of freely circulating and the credit operations can be handled in a convenient manner with ease. As per the law in Hong Kong, the tax has to be declared just once per year.

What are the general requirements for Hong Kong company registration?

• Minimum of one shareholder and director (an individual who is over the age of 18 years; or a company) is required in the Hong Kong offshore company. 
• One legal secretary (either a Hong Kong permanent resident or Hong Kong company)
• A registered address in Hong Kong
• The minimum share capital of HKD1.

What documents are needed for Hong Kong company registration?

Following documents and information shall be required for the purpose of Hong Kong Company Formation Procedure:

1. Copy of valid ID proof or passport of each shareholder ad each director,
2. Copy of utility bills or bank statement as proof of residential address of each director, not older than 2 months
3. Proposed Company Name in English and in Chinese. 
4. Authorized Share capital and Par Value Per Share
5. Nature of business,
6. Particulars of the Company Members- Chairman, Shareholders, Directors, Company Secretary.

The other documents required are as per the nature of the business. 

It takes about 10 working days for the Hong Kong company formation. 

Is Bank Account Opening mandatory after the registration of a company in Hong Kong?

Yes, opening a Corporate Bank Account after the company Registration in Hong Kong. For the purpose of opening a corporate bank account, the following documents are required:

• A bank account application, duly filled and signed by the authorized persons;
• Certified copy of Certificate of Incorporation and the Business Registration Certificate; 
• Certified copy of the Memorandum of Association, Articles of Association or By-Laws;
• A declaration by the manager in the prescribed format;
• Copy of the ID proof and a residential proof of all the directors and shareholders;
• Residential proof of business;
• Certificate of Incumbency (for offshore companies only);
• Proof of business& Business Plan;
• List of specimen signatures.

What are the key points to keep in mind for Company Name during Hong Kong company registration?

1. It is mandatory for every Limited Company that has been incorporated in Hong Kong to include the words "Limited Company" or "Limited" in the company name. This is done so as to indicate that shareholders bear limited liability for all future obligation.
2. A company can be registered with only an English name or only a Chinese name. Arabic numbers can be a part of the name. If entering a Chinese name; it shall be written in traditional Chinese characters and not simplified characters.
3. Since the scope of business of Hong Kong Company is not restricted; it is not required that the name of the company should relate to the nature of the business.
4. A company can change the name that was submitted at the stage of incorporation.