Open company in Hong Kong is getting popular these days. The reason is that the laws and regulations of this Chinese metropolis are still less complicated than anywhere else in the world. Accounting is also known as CPA, one of the best ways to conduct business in Hong Kong and make you have financial freedom. Opening a company in Hong Kong is one of the best options if you want to take advantage of the benefits of company formation in Hong Kong. This article will discuss the benefits of company formation in Hong Kong for new entrepreneurs.
Open company in Hong Kong have always been famous for their low cost of ownership, low tax rates, high liquidity, and quick corporate laws and regulations. Hong Kong Company Incorporation Services has become more popular these days. This service provider would help you to create an offshore company through a simple process. The advantages of the company set up in Hong Kong include the following.
There is no need to pay the registration fees for the company administration in Hong Kong. You can choose to pay the registration fees if you want to apply for the Hong Kong company registration. But in most cases, the company administration will not require you to pay the registration fees. The reason is that they never operate or register any company that does not meet the statutory requirements of the law. If the statutory requirements are not met, then you cannot use your business as a company. Hence, Hong Kong company incorporation would be free for any person regardless of their ability to pay the registration fees.
Another advantage of the company set up in Hong Kong is that you need not pay any extra fee for the business registration certificate. Suppose you want to start a limited liability company (LLC) in Hong Kong. In that case, you need to get the business registration certificate from the Companies Registry under the Companies (honk Kong shi wai) Ordinance. Moreover, the company set up in Hong Kong also does not require you to pay the annual administration fees to the Companies Registry. The only extra fee you need to pay to start your business in Hong Kong is the business registration fee.
If you are already an existing company and want to incorporate it in Hong Kong, you would have to pay the Hong Kong Company Registration Office (GHRO). You need to pay the annual business registration fee of the Registration Office in addition to the company incorporation fee. You need not pay the additional statutory fees required for the open company in Hong Kong unless you want to incorporate a limited liability company. On the other hand, if you’re going to include a corporation, you need to pay the statutory fees for the open company in Hong Kong along with the annual business registration fee of the GHRO.
Before you open a company in Hong Kong, you must decide on the name of your company. After you choose the word, you also need to register the name with the Companies Registry. It is compulsory for all companies registered in Hong Kong to have a registered office address. Thus, all the correspondence relating to company matters will be sent to the registered office address. All the commercial activities carried out by the company will be carried out at the registered office address.
You must seek the advice of a chartered accountant to register your company. He or she will be able to guide you on the critical points of the company incorporation process. It is essential to keep in mind that a chartered accountant will be paid a fee for his advice and services. Thus, it is necessary to compare the rates offered by different chartered accountants before deciding on hiring. If you are a shareholder, you are not entitled to a share in the company, but you are still an essential part of the company. A shareholder should get a copy of the minutes of meetings of the board of directors and members and the shareholders’ meeting.