To ensure efficient business incorporation, Hong Kong has provided several useful tools for its residents to help them set up their own company. The Companies Statute has been amended to improve the reputation of Hong Kong as one of Asia’s premier system for setting up Hong Kong business formation and establishing a local business as an international firm. Here are some of the more prominent tools that you can use to get started and help you establish your business legally:
Companies House – The Companies House is one of Hong Kong’s oldest registrars of companies and provides its users access to an extensive database of all registered businesses. It provides information on the company’s directors, directorships, shareholders, officers, and even grants you access to information about a company’s financial statements. If you are considering incorporating your own business, this is an indispensable tool. As well, if you are setting up a joint venture or joint-venture agreement, Companies House will offer you access to vital information about the business and its partners.
Companies Offices of Limited Liability Companies – These two forms of the business establishment are the most common tools used by companies in Hong Kong to set up a commercial enterprise. However, there are specific requirements that you must meet before you can open these types of offices. You will find that most of these offices are either licensed or not-for-profit. The latter means that they will operate at a reduced rate of tax and will be required to abide by many regulatory standards.
Trade names – You can use trade names if you are thinking about setting up a trade business in Hong Kong. You can also use this form of company name if you are opening a branch in China. However, if you plan on establishing a local business, you will find that trade names are not a desirable option.
Business name – When it comes to business names, you will find that there are several different options available to you when you are setting up a business. The most common names include those of popular brands like McDonald’s and Starbucks.
Trade name – You should choose a trading name that will reflect your business’s theme, products, and services. Ideally, it should also reflect your business’s name, logo, colour scheme, logo, and colour of signage.
Business Registration Agent – You can hire a local commercial business registration agent in Hong Kong to help you with your formalities. He will assist you in the initial registration of your trade name, office location, and business address. He can also offer you advice on how to set up and maintain a business properly.
How to open a company in HK? Your chosen commercial agent will also help you with advice on obtaining the right permit form for your business, if necessary. He will also help you apply for any individual licenses and other requirements required for your business and will also guide you in the process of establishing your business. You can find out more about commercial agents through your local chamber of commerce.
When you are opening a branch in another country, you will need to ensure that you are using a company in the same industry as your business. If you plan on opening a coffee shop in China, you may have to comply with several regulations that are unique to the Chinese business environment. Similarly, in Hong Kong, you may need to provide evidence of your business’ existence to local authorities before you are granted a business license.