Frequently Asked Questions - Incorporation Matters, HK Company

 

What's main difference of incorporation of a HK Company with an offshore one?

What is the time for incorporation?

What is the Memorandum and Articles of Association?

What's standard share structure of Hong Kong private limited company?

Can a Hong Kong company issue bearer share?

What is the minimum number of director and shareholder in a company?

What documents are required for incorporation?

When should the fees be paid and by what method?

When is the appropriate time for bank account opening if subscribing the Bank Kit Services?

Frequently Asked Questions - Incorporation Matters, HK Private Limited Company

Frequently Asked Questions - Annual Maintenance, HK Private Limited Company


What's main difference of incorporation of a HK Company with an offshore one?

Like other jurisdictions, clients may check which jurisdiction is best for their business or operations or for tax planning purposes. Hong Kong private limited company is normally selected for real operations, re-invoicing for global tax purposes, gateway to China etc.. A Hong Kong company is requiring to have annual audit of accounts and filing of Annual Return. Hence, the administration and maintenance costs of a Hong Kong private limited company is high when compared with that of other jurisdictions.

What is the time for incorporation?

For buying a ready-made or shelf company, the full registration time (including the filing of directorship and issuance of Business Registration Certificate) takes about 7 working days, excluding the time for courier and for signatures. For tailormade company, it takes about 14-21 working days, excluding the time for courier and for signatures.


What is the Memorandum and Articles of Association?

The Memorandum and Articles of Association of a Hong Kong private limited company is required to file at the same time of incorporation, it states the power of the company and its rules of the Management. Any amendments to the Memorandum and Articles of Association ("M&As") are required to be resolved and filed.

What's standard share structure of Hong Kong private limited company?

Hong Kong:- it is HK$10,000 divided into 10,000 shares of HK$1 each. There is no bearer share structure for a Hong Kong private limited company. Authorized share capital above HK$10,000 will incur additional government fees.

Can a Hong Kong company issue bearer share?

Bearer share is NOT allowed for a Hong Kong private limited company, the shareholder information may be searchable at public records. For confidentiality, some clients may select our nominee services.

What is the minimum number of director and shareholder in a company?

Thre is a minimum of ONE director, ONE shareholder and ONE secretary in a company. He/She may be the same person as director and shareholder. There is no residentship requirements for director(s) and shareholder(s). Corporate director or shareholder is allowed. The secretary is required to be residing in Hong Kong.

What documents are required for incorporation?

It includes passport/identification copy of each director/shareholder, respective residential address proof and respective reference letter. (Click here for more details)


When should the fees be paid and by what method?

The fees are required to be received in FULL in our bank account before the incorporation process could be commenced. At the moment, overseas client is required to wire transfer to our bank account (Hong Kong client is required to make cash deposit or by local transfer [or local cheque cleared], NO cash is received by our office) (click here for details). We DO NOT accept credit card payment at the moment.


When is the appropriate time for bank account opening if subscribing the Bank Kit Services?

After the corporation or company is incorporated, we will prepare documents for director & shareholder registration. After the registration documents are signed and returned, we will update the records and prepare the Bank Kit Set. The whole registration process is complete and all final documents (together with the Bank Kit Set) will be despatched to client. At this time, client may schedule to visit Hong Kong for bank account opening (but client is normally required to prepare business plan or collect business proof for bank account opening). If required, client may select our bank attendance services so our staff may attend the bank meeting during the bank account opening process. If for any reasons client omits to bring along some documents, he/she may send these to our office and we will follow-up with the bank.

Our aim is to provide a comprehensive service to our clients in Hong Kong and offshore operations. If you find above helpful, please free to contact us.