Changing your company registered address can be frustrating because you have to deal with the formalities while growing your business. This article will guide you on the procedure for changing the address of the registered office of a Hong Kong company.
Set up a Business in Hong Kong with Ease
You can set up a company in Hong Kong with ease, and it only takes two weeks to register. Known for its infrastructure, Hong Kong provides all the necessary facilities that your business will need. Companies can protect themselves from copyright problems by going through dispute resolution channels. Foreign investors can readily set up business in Hong Kong by applying for an appropriate work visa. The tax system is simple and business-friendly, changing registered office address of company at Hong Kong.
Create a Strategic Location for Your Business
- The location of Hong Kong makes it an accessible hub for businesses to enter the Asia-Pacific market
- Hong Kong, located on the southeast coast of Mainland China, is well-situated to provide access to other major Chinese cities like Shanghai and Beijing within a single day
- Hong Kong International Airport is the eighth busiest airport for international travel and services over 180 destinations around the world.
A Beneficial Tax Regime
- Taxes are the main worry for any entrepreneur who is setting up a business, and Hong Kong boasts about being a low tax jurisdiction
- An individual will have to pay 2% as a personal income tax for an income up to HKD 200,000. Income above that amount is taxed at 17%
- The corporate tax rate in Hong Kong is set at 16.5% of assessable profits. The corporate tax rate for unincorporated businesses is 15%
- The two-tier profits tax regime will lower the corporate tax rates for businesses with a first $2 million of assessable profit
- You will not be taxed on capital gains, dividends, interest, or social security.
What Is a Registered Address, and How Does It Affect Your Business?
The company must have a registered location to receive official correspondence for on-site inspections by government officials.
A registered office is required to Incorporate a Company in Hong Kong according to Section 658 of the Companies Ordinance of Hong Kong and must be a commercial address. A residential address or P.O. Box will not suffice.
A registered office can be a place where your business is conducted (a home address) but not where business activities are conducted. A business office can be a commercial building, such as a warehouse.
After incorporation, apply for a business registration certificate. This certificate will then be displayed at your place of operation. Every time you register a new office address, you need to show that your company is registered with the Companies Registry. You also need to show the relevant branch registration certificate.
Changing Registered Office Address of Company at Hong Kong
To change your company’s registered address, submit your application through e-Registry. Upon completion, your request will be shared with the Business Registration Office, which will share the updated business registration certificate with the new address on your company’s profile.
To-Do List for Changing Your Business Address
As soon as you’ve changed in registered office of company, these are the steps you should take to make the process easier:
- How to communicate your ideas
- Update financial institutions and insurance agencies
- Government agencies need to be informed
- Get your new address and update your company’s website today
- Reflect on any new address updates your company may have
- If you haven’t finished painting your company sign, place a temporary notice on the door of your new office
- A change of address is important so that all mail sent to your new company name can be received at the right place, and everyone who works with you will know to use that information
- Communication with the government, suppliers, and partners is important during these changes.
Conclusion
On the whole, setting up a business is just one side of a coin. Altering your business address needs to be done by fulfilling all the formalities discussed above.
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