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New to Hong Kong?

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by

Matej Uhrín

on 17 June 2015

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Transcript of New to Hong Kong?

New to Hong Kong?
Articles of Association
Statutory Book
Share Certificates booklet
Chops
Metal seal
Certified true copies for bank account opening
Bank Account
STARTUP IN
HONG KONG

Limited Company
Company name search

Always include ‘Limited” at the end


Words that cannot be included:
“Trust”
“Chamber of Commerce”
”Bureau”
“Cooperative”
“Government”

Company Details
Director(s)

Shareholder(s)

Registered office
Place of business in Hong Kong

Company Secretary


Registered Commercial Address
Must be in Hong Kong
Cannot be a GPO BOX
Corporate Structure

Business Nature

Rights of Directors and Shareholders

Articles of Association: Memorandum of Articles

Certificate of Incorporation

Payment method for the Certificate of Incorporation:
Cheque ONLY
Registering with Inland Revenue
Maintaining
your company
Purchase of goods for resale
Wages , MPF Contribution
Professional service
Rents , Lease of venue, machines
Rates
Repairs
Lighting , Electricity
Internet , Mobile phone
Running costs of company
Entertainment
Accountancy fee
Company Secretary fee
Approved Charitable Donations
Education
Depreciation
Traveling costs in/out- side of HK Membership fees
Interest paid by borrowing for financing the business
Insurance
Business expenses
Book keeping

josephine@centreo.hk
9178 2609

josephine
Book an appointment 48 hours before

Required documents:
Green box
Office tenancy agreement
passport / HKID card
Proof of residential address
Business plan


All Directors and Shareholders must be present at the meeting

Company search fee:
approx. HK$ 1,000

Total Relationship Balance
Company Secretary
Appointing a company secretary is mandatory

HK resident / HK based company

Maintains the statutory books

Ensures company’s compliance with statutory requirements.
UNLIMITED
LIMITED
Please note that under HK Law (Section 154B of the Ordinance) the same person cannot sign or act as both director and secretary (e.g. you can’t sign as both secretary and director of your company for your annual tax returns).
within 1 month after receiving the Certificate of Incorporation
Applying for Business Registration Certificate:

Reason of setting up a bank account in HK

Potential or actual client and supplier list

Evidence of current business

Expected turnover

Business forecast

Website, brochure, flyers, name cards & other promo material

Company Structure; Displaying hierarchy of company employees and future positions
BUSINESS PLAN
Green Box
Company NAME
Registering with
Companies Registry
Type
Foreigners can own 100% of the company
16.5% Profit Tax (2014 - 2015)
Hong Kong Investment Visa
The most common type of a company in Hong Kong
Limited liability
Good reputation when raising capital
Transferring ownership is easier and more transparent compared to sole proprietorship and partnership
How to Incorporate?
Update changes to CR and IRD
Tax Return
Inland Revenue Department
Company Registry
Employee's Return
Business Registration Renewal
Accounting and Audit Report
Annual Return
Employer's Return
INCORPORATION
REGISTERED
OFFICE
COMPANY
SECRETARY
VIRTUAL
OFFICE
SERVICED
OFFICES
COWORK
SPACE
ACCOUNTING
&
AUDIT
TAX
SERVICES
Application process
Maintaining your company
DIY
COMPANY
SECRETARY
GREEN BOX
CERTIFIED
DOCUMENTS
CERTIFICATE OF
INCORPORATION
BUSINESS
REGISTRATION
TOTAL
3,000
1,500
2,000
1,720
2,250
10,470
7,200
2,250
1,720
3,230
THANK YOU
FOR COMING

$$$
0
Bank Statements
Company vs. Personal
Invoices
No VAT
Expenses
2 months before incorporation
Full transcript