Hong Kong incorporation services are very carefully considered for new companies to run smoothly after being launched in the city. There are many things to be taken into consideration before the company name is registered. You must have a business plan that would state your goals clearly. Professional incorporation service providers to ensure that all these happen accordingly. They offer services like preparing the Articles of Association, registering the company name, paying the necessary fees to the Registry of Companies, and submitting the registration form to the Securities and Futures Commission of Hong Kong. After being through these procedures, your company name will be registered in the Commercial Register in Hong Kong.
Your chosen Hong Kong incorporation services will also ensure that you have a registered office address in the place of business. It should conform to the statutory requirements as specified by the Companies Act 1985. The company’s office address will become the permanent address of the company, notwithstanding the address change. Therefore, keeping significance controllers registers as requested by the law of Hong Kong.
The next step of incorporating a business in Hong Kong is to appoint the basic executive members of the board of directors, which consists of the following persons: the secretary or assistant secretary, and chief executive officer (or CEO), general manager, and compliance officer, and data information officer as per the Hong Kong law—having these people as executive members will facilitate proper communication among the other company officials, especially concerning business matters. Your company, the formation service provider, will draft the Articles of Association, your compliance officer, and data information officer, and take care of the rest. This company formation Hong Kong firms will also provide you with a business certificate, and business license, as per the law.
There are many benefits of registering your company in Hong Kong under the schemes offered by the companies’ formation of Hong Kong. Among these benefits are the tax benefits and exemptions on income and corporate gains, the absence of corporate taxation on your dividends, and exemption on capital gains and tips, and the deferment of tax payments on income under the scheme. Hong Kong company formation also provides you with the benefit of having a trade register, and the freedom of doing business without any restrictions whatsoever. Lastly, there are no restrictions on your management of the assets of the company in Hong Kong.
The first step in incorporating a business in Hong Kong is to choose the type of company you wish to open. If you want to open a private company, you must complete one application, and then the corresponding tax registration number. However, if you wish to open a public company, you must seek the Hong Kong authorities’ consent to do this. You can achieve the said task either by yourself or through an agent’s help, who can charge an annual fee for his services. On the other hand, if you decide to incorporate a commercial entity in Hong Kong under the open company system, you must apply to the Companies Registry and follow the necessary procedures.
Once you are ready with the application, you must submit it to the Companies Registry, together with the relevant corporate documents such as the Memorandum and Articles of Association, Annual Return, the S Registrar of Company Name, and the register of your company’s permanent address. Your application should be submitted in its entirety to ensure that all government fees are paid. Once the submission is made, you only must wait for the company registration officer to process your documents. Meanwhile, you can proceed with the rest of the process once the company registration officer receives your documents.
If you choose to incorporate a private company, you must pay an annual registration fee to the Companies Registry, including a tax fee. The tax fee includes the statutory rate and a yearly income tax inclusion. The statutory rate is the rate applied for corporate filings. The annual income tax inclusion is the amount of income tax that you must pay over the years as your company grows. Both these fees are included in the registration fee when you register a company in Hong Kong.