Guide to the process of starting a company in Hong Kong: Professional guidance for those starting a business in Hong Kong
Starting a company in Hong Kong is a choice full of opportunities for both local entrepreneurs and international investors. As a world-renowned commercial and financial center, Hong Kong has a sound legal system, a low tax environment and efficient government services, providing an ideal business environment for enterprises. The following is a detailed process for opening a company in Hong Kong, aiming to provide professional guidance for those who intend to start a business in Hong Kong.
Step 1: Establish the Company Category
Before officially registering a company, the first task is to clarify the type of company. Companies in Hong Kong are mainly divided into two categories: Limited and Unlimited. Limited companies are further subdivided into Limited by Shares and Limited by Guarantee. The liability of shareholders in a limited company is limited to the number of shares they hold, whereas shareholders in an unlimited company have unlimited liability for the company’s debts. It is worth noting that unlimited companies do not need to register with the Companies Registry and only need to register their business with the Commercial Registration Office.
Step 2: Name the company
Choosing an appropriate and unique business name is crucial. According to the “Hong Kong Company Name Registration Guidelines”, the name must meet certain standards and must not be the same or too similar to an existing company name to avoid confusion. It is recommended to use the Companies Registry’s online search system to check the availability of the name, and also use the Intellectual Property Department’s online search system to search trademark records to ensure that the name does not infringe the intellectual property rights of others.
Step 3: Fill out three important forms
Incorporation form: Depending on the company type (corporate limited company or other), choose to fill in the NNC1 or NNC1G form. The form must detail key information such as the company’s capital structure, director information, share distribution and company secretary. Please note that the form must be entered via computer and printed, handwritten versions will not be accepted.
Notification to the Business Registration Office (IRBR1 form): This form is used to notify the Business Registration Office of matters related to company establishment, including company name, place of business and nature of business, etc.
Company Articles of Association: This document stipulates the company’s internal management and operating mechanisms, including share structure, meeting procedures, directors’ rights and responsibilities, etc. You can choose to fill in a simplified version, but make sure all co-founders agree on its content.
Step 4: Pay the fee (fees are for reference only)
The company registration fee depends on the submission method (electronic or hard copy), which is HK$1,545 or HK$1,720 respectively. If the application is rejected, a partial refund will be provided, but the document storage fee will not be refunded. The business registration fee can be chosen for one year (HKD 250) or three years (HKD 3,950). The fee will be adjusted according to government policies. Please refer to the latest “Business Registration Fees and Levy Fee Schedule”.
Once the application is approved, the applicant can download or receive the “Company Registration Certificate” and “Business Registration Certificate” in electronic or printed form. Both certificates are statutory proof of the company’s legal operations. The approval process usually takes 2 to 3 days.
By following the above process, you will be able to open a company in Hong Kong efficiently. As an open business environment, Hong Kong not only provides a convenient registration process, but also has many policies and services to support entrepreneurship, providing a solid foundation for the growth and development of enterprises.
