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Why incorporate in Hong Kong?
Hong Kong is a great place to open a business: there are no restrictions for foreigners, taxes are flat and rather low (profits tax stands at 8.25% for the first HK$2 million of assessable profits, and 16.5% for profits after that), the incorporation process is easy, fast, and can be done remotely. There are many well-established businesses and smart start-ups here, finance is available, and flights are plenty.
Can a foreigner be a director and a shareholder of a Hong Kong business?
Yes, Hong Kong allows foreigners to become directors and shareholders of a company registered here. As a foreigner, you can be the only director or hire as many as you need. There is no requirement to have any local directors.
You can be a shareholder as well. You need to have at least one (and as many as 50). They can be people of any nationalities or companies.
Do I need a company address?
Yes, all companies registered in Hong Kong must have a local address. It goes on all legal documents. If you don’t have an office address, use our service. We handle your incoming letters, scan and store them in your Osome account so you have easy access to all your documents.
Do I need a Company Secretary?
Every Hong Kong business must have a local resident company secretary. This officer is responsible for keeping your paperwork in order, making sure all changes on the company are processed correctly, on time and in compliance with the local legislation. This role can be performed by an individual or a corporation, known as a body corporate.
How long does it take to register a company?
Once all the documents are ready, it usually takes us less than an hour to register a company. It mostly depends on when you are comfortable with providing all the details, as well as the service hours of the authorities.
How to open a company in Hong Kong?
First, we check that the name you’ve chosen for your business is available. Next you send us your passport copy and details on other directors and shareholders (if any). We prepare all the necessary documents, send them to you for electronic signature, and submit them to Companies Registry (a government entity that registers companies). We then register your company with the Inland Revenue Department which issues the Business Registration Certificate. On your end, it’s just a message thread in a secure chat.
Are incorporation fees tax deductible?
In Hong Kong, expenses have to be incurred in the production of chargeable profits to be tax deductible. That means you had to spend the money to make sales. As such, expenses related to incorporating a company are tax deductible. Our accountants can advise you on how to file taxes correctly.
What is a Business Registration Certificate?
Business Registration Certificate is a document that every Hong Kong business must have. It specifies all the details of your company. It is issued by the Inland Revenue Department of Hong Kong usually for 1 year and has to be renewed annually.
How do I get a Business Registration Certificate (BRC)?
To get a BRC, you have to apply to the Business Registration Office,complete form IRBR 37, and pay a HK$27 fee. If you employ Osome to do that for you, the fee is included in the package.
After you’ve registered a company, you have 30 days to procure BRC.
What is a General Employment Visa?
It’s a type of working visa sponsored by a specific company so it can invite foreign professionals. It allows you to work exclusively for that company and come to Hong Kong. Its duration is determined by the length of the contract.
What are the requirements to get a General Employment Visa?
First, you need to have an offer of employment to fill a genuine vacancy. Second, you need to qualify for the job, which means your background, experience, and education should fit the requirements. Normally, the officials look for a first degree in the relevant field. Third, the salary you get should be about HK $40,000-$75,000. Finally, you must have a clean criminal record to be cleared by the security.
Incorporate a company with Osome: how it works
We make setting up a company in Hong Kong fast and effort-free. We prepare all necessary docs, send them for you to e-sign, and file for company incorporation with Corporate Registry.
We make setting up a company in Hong Kong fast and effort-free. We prepare all necessary docs, send them for you to e-sign, and file for company incorporation with Corporate Registry. We provide convenient solutions for government requirements: corporate secretaries with years of experience who answer fast online, a registered address with digital mailroom, and procure Certificate of Incorporation and Business Registration Certificate. Everything you need to open a business in Hong Kong.
Company registration is just the first step. To save you time, we’ve created software that processes routine tasks. After we register your company, we’ll keep on top of the government filings and remind you about upcoming deadlines. All your files get stored on a convenient platform forever and for free, easy to find and forward. And any letters sent to your registered address will be scanned and sent to you. With Osome, you can set up a business and figure out the reporting once and for all.