What is non-Hong Kong company?
What is non-Hong Kong company?
1. Nature of Non-Hong Kong Company. A foreign company which has a presence in Hong Kong but does not create legal obligations (i.e. a representative office) is not considered as having established a place of business in Hong Kong for the purpose of registration with the Registrar.
Does Companies Ordinance apply to non-Hong Kong companies?
Under section 776 of the Companies Ordinance, a non-Hong Kong company is required to register as a registered non-Hong Kong company within one month after the establishment of the place of business in Hong Kong.
Can a foreigner set up a company in Hong Kong?
In fact, you don’t even need to enter Hong Kong at all to open a business as a foreigner. If you wish to set up a sole proprietorship or a partnership, you must either be a Hong Kong resident or have an applicable work visa. You can read more about getting a Hong Kong work visa here.
How much does it cost to register a company in Hong Kong?
Fees
| Different Hong Kong entity types | Registration cost | Annual maintenance fees |
|---|---|---|
| PLC company | US$8,600 | US$4,900 |
| LLC with employment visa | US$15,205 | US$5,000 |
| Hong Kong company with China corporate bank account | US$11,655 | US$5,000 |
| Foreign trust | US$16,000 | US$11,600 |
How do I register a foreign company in Hong Kong?
The registration form should include the following particulars of the foreign company: name; place of incorporation; date of establishing the place of business and its address; address of principal place of business in Hong Kong; identity of company secretary and directors, together with dates of appointment and …
How do I open a representative office in Hong Kong?
There are no registration requirements with the Companies Registry for Representative Offices in Hong Kong. However, it must apply for a Business Registration Certificate with the Inland Revenue Department within one month from its date of commencement.
How long does it take to set up a company in Hong Kong?
Due to its simplified incorporation process and requirements, applicants are able to register for a Hong Kong corporate and speedily get the ready documents within 24 hours to run their business immediately.
How do I register my small business in Hong Kong?
Below are some steps to take in order to establish a new company in Hong Kong.
- Determine your company name.
- Choose a legal structure for your business.
- Register your company.
- Incorporate your business entity.
- Open a company account.
- Get permits and licenses.
- Hong Kong tax.
- Pensions and insurance requirements.
Can one person register a company?
The Companies Act, 2013 provides that an individual can form a company with one single member and one director. The director and member can be the same person.
Is it easy to start a business in Hong Kong?
Most importantly, opening a business in Hong Kong is relatively easy and cost-effective. As a foreigner you can own 100% of your business in Hong Kong, and you may be the sole director and shareholder. Attractively, Hong Kong is also a great gateway for establishing your business in China or other Asian nations.
How do I open a branch office?
To open a branch office, a company has to get approval from its directors. Hence a company must call a board meeting on a pre-decided date by giving notice to all the directors. Board of directors must pass a resolution to open a branch office. And BOD must authorize a director to carry on all the related activities.
Is Hong Kong offshore?
Hong Kong is often criticized as being an offshore tax haven. In reality, it is not a tax haven but simply a low tax jurisdiction.
What does it mean to be a non Hong Kong company?
Where a company incorporated outside Hong Kong establishes a place of business or branch office in Hong Kong as an extension of the investing company, it is referred to as an “Non-Hong Kong Company” (formerly known as “oversea company”) or “Branch Office”.
How to form a company in Hong Kong?
Incorporate your company with us and receive 500HKD credited in your Neat account! BBCIncorp offers multiple packages of Hong Kong offshore company formation to meet your demands. During this process, we also provide free consulting to help you set up the right company structure per your need.
What are disclosure requirements for non Hong Kong companies?
The Regulation aims to bring into line the disclosure obligations of non-Hong Kong companies with those of Hong Kong companies. The Regulation provides for the obligations of a non-Hong Kong company ( NHKC) to disclose its name, place of incorporation and members’ liability status, and also the offences for contravening the Regulation.
What are the different types of business entities in Hong Kong?
There are three business entity types prevalent in Hong Kong, depending on your business requirements. Branch Office: This is when a parent company – incorporated outside Hong Kong – wants to establish a place for carrying out its business in Hong Kong.