There are many ways to register a company in the city. You can choose from one of them based on your needs. Do you know how much it costs to register a Hong Kong company? In order to register a company in Hong Kong, there are different types of registration fees. Find out what they are here!
Hong Kong is a major business hub in the Asia-Pacific region with a high concentration of modern businesses and entrepreneurs. This article details the steps involved in incorporating a company in Hong Kong business, from finding an appropriate site to beginning the registration process.
Advantages of Setting up a Business in Hong Kong
Before you can register a business, understanding the benefits is key:
- Hong Kong is the most business-friendly jurisdiction in the world. It is simple, affordable, and quick to form a company in Hong Kong
- You can continue to run your company, regardless of location
- By using an agency, they will be responsible for running the business on a daily basis, and it will grow progressively
- If you get an expert, the company will grow even faster, becoming all that you dream of in the process
- Hong Kong is a great gateway to mainland China, with a population of over 1 billion. Besides deals in Hong Kong, Taiwanese companies can enjoy preferential treatment from 30 countries that have signed treaties with Hong Kong
- Hong Kong is an autonomous region with its own business model
- They provide tax breaks and other incentives to ensure that you’ll succeed in the global market.
Incorporating a Company in Hong Kong As a Foreigner
Many companies are incorporated in Hong Kong because of the high level of freedom and ease of doing business. Hong Kong also has a low tax rate, which can be beneficial for many businesses.
People who want to open an offshore company in Hong Kong ought to consider the following points:
- Foreigners can register a company as the sole directors and shareholders. No local residency proof is required
- You do not need to be physically present for company registration, but you may want to be physically available for opening bank accounts
- Foreigners are free to operate a Hong Kong offshore company from overseas.
What is the Average Cost of Incorporation?
The Hong Kong business registration office is responsible for issuing the Business Registration Certificate. The company will need to pay an administration fee in order to have its certificate issued.
There are two types of certificates available:
- The cost of 1 Year’s registration is HKD 250
- The cost of 3 Year’s registration is HKD 866
Cost of Registering Other Business Types in Hong Kong
If you are opening a new branch of your company, which is already registered, you need to pay business registration fees.
- The cost of 1 Year’s branch location registration is HKD 250
- The cost of 3 Year’s branch location registration is HKD 866
Which Company Types in Hong Kong Need Business Registration
- Companies with Trade and Commerce as their niche segment
- Companies into professions or craftsmanship
- Companies that are service-focused like clubs
- Companies registered with the HK Companies Ordinance
- All foreign companies with businesses in Hong Kong.
In conclusion, Hong Kong is the perfect place for a company to be incorporated. It has many advantages that make it a prime location for incorporation. For example, it is one of the most business-friendly places in the world and offers low taxes and perks like no capital gain tax.