A PRIMER ON HONG KONG COMPANY REGISTRATION Hong Kong, a small Asian island in southeastern China, is home to a large number of booming enterprises. Abundance of faculties both native and alien complemented by reputable judicial and simple taxation laws make it a lucrative destination for both entrepreneur startups and established businesses. Any legal adult, over 18 years of age, is welcome to set up business here by registering their company, a policy that ensures a vibrant cosmopolitan atmosphere and robust economy.
Hong Kong Company Registration Procedure: Hong Kong Co Registration formalities essentially involve firstly, approval of the Company name and subsequently, the application for registration. Company Name Approval: The name selection can be in Chinese, English or a combination of both but without containing a mix of language in the character composition of the body. While English names should conclude with the word limited, the Chinese ones must pursue an equivalent Chinese counterpart. Additionally, Chinese names are required to incorporate the traditional Chinese characters used in the “New Sai Ming� font conforming to the ISO 10646 international coding standard. Some of the probable grounds for disqualifications of the proposed Company name could be: trademark infringement, co-existence of a similar name in the Index of Company Names and being of a derogatory or anti-social nature. Inclusion of words like Bureau, Cooperative, Trust, among others would attract additional sanction after due legal scrutiny for any legislative breach.
Application for Company Registration: Startupr.hk requires submitting of certain credentials following formal approval of the Company name. Incorporation form: this form contains the sanctioned Company name, all pertinent information regarding nature of Company activities, member composition and addresses including their accountabilities and privileges, fiscal worth, shareholders, legal secretary and other personnel with registered locations. Passport copies and alien addresses need to be submitted along with identity cards of all participating natives. Authentication is to be provided of all foreign holdings and their corresponding Directors. Certificate of Incorporation of Parent Company: this requirement pertains to Companies with corporate shareholders and directors. Now that the two major registration formalities are done away with, the Hong Kong Registry’s certificate of incorporation requires the payment of two fees to complete the whole process. Registration fee is charged at the rate of HKD 1.00 per 1000 shares while capital fee is charged at a nominal flat rate of HKD 30,000 for each of the proposed case. Typically, a minimum of ten days is required for processing the submission. Accorded approval notice is then communicated to the Company agent, whose credentials have been included in the Incorporation Form, requesting presence of self at the Registry Office for collection of the Certificate of Incorporation. While it is a mandatory requirement for the Certificate to be collected personally, judicious provision has been made for permitting the delivery to a Company authorized representative in order to make smooth the whole process of Registration. Transparency to the Set up your company in Hong Kong process and Company affairs is guaranteed by the presentation of all filed details to public scrutiny. Registered Companies are also advised to update any particulars regarding their holdings as and when they occur.