Missdream Store

How to Incorporate a Company in Hong Kong – Avoid Getting Stuck with Huge Tax Risks

Company incorporation in Hong Kong is an easy process, that is completed within a week and doesn’t require you to go to Hong Kong. But the opening of an offshore bank account is slightly more complicated and usually is requires the signatories and directors of the company to go to the financial institution for a Know Your Client (RK) meeting. But once you have signed up with your chosen bank, you have many benefits of company registration in Hong Kong. As you know, Hong Kong enjoys a higher standard of living, less tax payment, low cost of living, and a high employment rate. Thus, the advantages of registering a company in Hong Kong are many.

How to incorporate a company in Hong Kong? Companies can trade freely, making it easier to do business. The open market allows companies to compete and establish their own identity in the international market. Furthermore, as it is now a Chinese-dominated area, the company registration in Hong Kong offers another advantage of getting a business license. You are assured of getting legal approval for your company formation and open trading. You are not required to pay any customs taxes and income tax on your business’s operation’s earnings.

Opening a company in Hong Kong will not occupy much of your time and effort. You will only need a few hours to get your business license and start trading. Plus, you also get a three-year renewable lease for your office space from the Registry of Companies. Moreover, you get other facilities such as an inclusive year commercial lease, low capital costs, and a transparent document of your company’s status.

How to register a company in Hong Kong can be a daunting task. It is because this is a procedure that needs careful consideration before being carried out. As soon as you have decided to open a company in Hong Kong, you will be faced with the option to register it either by making use of the company registration service provided by the government bodies or through the individual entrepreneurs’ registration process. There are advantages and disadvantages to each of these options. You should carefully look at all the pros and cons before deciding which to take up.

Go through the company registration service provided by the government. You will have to submit all your financial documents and make sure that you have followed all the procedures correctly. If the company is established legally, you will have to fill in the form on its website and submit it to the Registrar of Companies. The company will be opened and running as per the rules of the Hong Kong SAR Government.

For instance, you can register your company through a professional company formation service provider. By using their services, you will open your business in Hong Kong without submitting any legal documents. You will have to pay a minimal fee, and you will be able to enjoy the benefits of opening your company with minimal hassle. In addition to this, you can open multiple businesses using the same company registration service provider.

If you are still not satisfied with incorporating a Hong Kong company, you can seek help from experts in the field. The best way to approach the issue is to hire a business lawyer to assist you. You can contact a renowned company registration service provider’s law firm and explain your requirements to them. Once they provide you with legal advice, you can open your business in Hong Kong without any hassle.