To operate a successful business in Hong Kong, one of the most important things you need is setting up a company. If you have an urgent need to run business, you might be asking how to set up a Hong Company fast, possible?
Often, many people get confused because of misleading information out there. Well, be smart and get reliable information about setting up a limited liability company in Hong Kong. In this post, we look at a comprehensive account on how to set up a Hong Kong limited company as fast as possible.
Why Hong Kong?
Many people might be asking why Hong Kong and not other places? Over the years, Hong Kong has stood out as a financial hub with its good policies and ideal location that gives you the gateway to the large market that is mainland China. Its financial system is enviable with flexible operations that do not have unnecessary fiscal controls. It is a perfect business environment with exponential potential.
To take advantage of Hong Kong’s location, ideal financial system, and a huge market, the first thing is registering a limited liability company.
Preparation for company registration
Before you knock on any door to start registering a company, it is prudent to have the following:
- A photocopy of your passport.
- Name suggestions for your company
- Your residence address
- A Hong Kong Secretary’s address
For a company formation in Hong-Kong, it will take about 2 weeks, and 2 more weeks to open a corporate bank account.
How to get a secretary in Hong Kong and company address ?
For the registration to go through, a secretary and a company’s physical address are required. You can opt for furnished offices in Hong Kong metropolitan area or consider virtual offices depending on how you want it. Make sure to factor the following requirements for your company as you select an office;
- Secretary services
- Mail collection and related services
- Phone replying services
- dedicated office
Selecting your company’s name
Searching a company’s name is very important so that you do not pick a name that has already been taken. Hong Kong operates an online database that every person anticipating to operate a company can access for free. While some people might argue that a name does not matter much; this is a great misconception. A name that matches with your business website helps build trust with clients.
Registering your business using an agency
The process of registering a company on your own can be lengthy and tedious. Think of the two weeks required to have the process completed and another two weeks to have a bank account. If you want to set up a limited company fast, a better way is using an agency.
Depending on the agency that you select, it might be possible to get banking introduction. Many agencies include services such as filing, bookkeeping, and secretary for one year. When selecting an agency, it is prudent to look for those that are trustworthy because you are doing business. This is even more important for people who want to run a company from abroad.
What to expect from the agency
Immediately you have provided all the required information for your company, a formal limited liability company green box will be sent in about two weeks containing a lot of great things for you. This is very important to run your Hong Kong Limited Liability Company. In the green box, you will find the following;
- Certificate of Incorporation
- Business Registration Certificate
- The book of decisions of the assemblies
- The articles of association
- The two stamps of new company
- The certificate of share ownership
- The seal of your company