Company formation or registration is the process that conducts a comprehensive and legal method to launch a firm under the specific law in a country. When you decide to incorporate a company in Hong Kong, you will have to do a lot of things. Basically, it seems pretty simple to incorporate a firm in Hong Kong or any other country, but it is little challenging. When you are going for Hong Kong company formation, you need some important, primary and secondary measures to take. Initially, a foreigner will have more challenges and obstacles in company formation in Hong Kong. Employers and investors need to go through local laws, regulations, environment, available facilities and business opportunities in Hong Kong prior to incorporate their companies.
Is Company Formation Easy?
If you go through company formation in Hong Kong, you will come across it is the easiest thing ever for the locals. However, if foreigners are interested in company formation in Hong Kong, then it will be little complicated. The investors have to follow laws and regulations associated with Hong Kong register business process of this country before to launch a company. Basically, there are many business consultant companies and individual professional advisers who can help you to establish your company in Hong Kong quite easily and in a short course of time. There are also several types of businesses or companies in Hong Kong which the foreigners must choose according to their visions and nature of business. The most foreigners seem much interested in private and limited companies that have greater scope in Hong Kong as well as rest of the world.
Investors should hire some business consultants and professionals for establishing a company in Hong Kong. They should hire proper Hong Kong register business services and evaluate the legal as well as general requirements for company formation. You need following legal requirements for company formation in Hong Kong.
- Registered company name
- Brand or product type/nature of business
- Legal address of the company and office
- Company’s Registration Number
- License to operate
- National Certificate of Registered Companies
- Company secretary and shareholders
- Registered capital
- Directors etc.
Reasons & Motives of Company Formation:
Almost every investor has many motives and reasons to establish new companies in profitable regions in the world and does endless efforts for capital formation. Today, trends of Hong Kong company formation are increasingly becoming common among the foreign investors. There are several reasons behind the company formation in Hong Kong. Some of these grounds are;
- Capital formation
- Utilization of inexpensive and better labor
- Expanding the business
- Boosting total revenue and profit
- Earning good name
- Establishing relationships with international clients and consumers
- A move towards the horizon of success
- Saving production costs and taxes
- No income tax liability in Hong Kong
- Improvement in national economy
- Investing to provide more employment opportunities to the locals
- Personal motives of the investors
- Self-motivated and efficient workforce at low wage rate etc.