Company registration in Hong Kong is mandatory before conducting trade in the country. Opening a new business in the city requires you to open a company in the local language. Companies must have their business names registered in the Registered Office’s offices and the Registry of Companies. Hence, company registration in Hong Kong can be done online or through the traditional office system.
Company registration in Hong Kong is not an expensive affair. You do not need to pay an HK business registration fee to start your business. However, the Registration of an HK business registration business is a legal obligation responsible for preserving the register, maintaining it updated, and authorising the details of Company formation in Hong Kong. Any attempt by an individual to obtain a company registration for whatever purpose is considered a company crime. Company crime is an offence that carries a penalty and may lead to conviction and even imprisonment.
Registration of a business in Hong Kong is also not very costly. Besides, there are no taxes or administrative fees applicable to companies when registering in companies’ register. The Registration of a business also does not require you to open an office on the business premises. If you do not need any office to conduct your trade, you may choose to unlock a company’s branch registration certificate (Branch Registration Certificate). However, before you can apply for a branch registration certificate, you must comply with the Registrar of Companies’ requirements.
An essential requirement of company formation in Hong Kong is the requirement of a business address. To comply with this requirement, you may need to apply for a Registered Office Address (R.O.). The Registered Office Address needs to comply with the Companies Act 1985, which deals with regulating Hong Kong business activities. Besides, it also requires the submission of an application form to establish the company’s principal office.
The Companies Registry is one of the Hong Kong offices responsible for collecting and maintaining the files of all registered businesses in Hong Kong. Besides, the Registered Office Address serves as proof of identity for all persons who wish to become a company. This office address is also used as the leading company’s address, where the company’s directors meet for the meetings. There is a difference between the abbreviations of business names and the words “Limited Liability Company”.
Companies usually set up one of two types of business: general and partnership. The general business is typically a partnership that consists of different classes of shareholders. The partnership class usually consists of one director and a maximum number of partners. The company formation process usually requires the application of a registration number. The registrar issues this number to prove that the concerned company is established correctly and has all the registered requirements.
After obtaining the Companies Registry registration number, the applicant company can proceed with its name registration. The next step is for the registered office to prepare the company formation documents. These include the Memorandum and Articles of Association as well as the statutory declaration. The registrar determines the closing date of the company. According to the Memorandum and Articles of Association provisions, it is followed by a certificate of appointment, which is valid for one year and can be renewed annually after an initial year.