This tutorial will concentrate on the most common type of Hong Kong business registration, the Private Limited business. We outline all the steps required for incorporating a company, including choosing a name, naming the directors and shareholders, determining the amount of share capital, naming the company secretary and designated representative, and finally filing all necessary paperwork with the authorities. Given below are the procedures for incorporation in HK.

Table of Contents

Choosing a Business Name

The first step in forming a company is deciding on a name. The entity will get addressed by the Hong Kong government using this name. Because the name may already be in use, three options should be considered. Company names that generate confusion or controversy cannot get approved by the Hong Kong Company Registry.

The Company’s Goal

The second stage would define the company’s goal and the activity developed in Hong Kong. A Private Limited Company may participate in many profit-making activities. However, some niche or specialised sectors may need multiple licences. As a result, it is critical to determine whether additional criteria exist to operate the firm.

The Organisation of the Company

A third stage would establish the Private Limited Company’s internal structure. The following posts must get filled by Hong Kong’s Companies Ordinance law:

There must be at least one stakeholder.
One acting director is required (at a minimum).
An acting Corporate Secretary.
A Designated Representative.
A registered business address where official notices can be sent.
Defining the fiscal year-end (this affects the date on which taxes are due within a fiscal year).

The Initial Investment and Shared Capital of the Company

The minimum number of shares required is one worth HKD$1 (Hong Kong Dollar). This is one of the dominant procedures for the incorporation in HK. The value of the shares and the number of shares can be changed and updated under the Articles of Association as the firm’s members see appropriate.

Meetings of the Company

Scheduling shareholder meetings is an approach to keeping track of developments and key corporate issues. According to the Articles of Association, the shareholder’s board can determine the number of times the meeting will be held based on their needs. The Annual General Meeting must be held at least once a year. These meetings’ decisions and resolutions get noted. It interacted with the members of the firm. The meeting minutes are the name of the record.

Company Formation Procedures

Once all of the criteria have to get determined, the next step is to submit the incorporation form, which contains the company’s name, purpose, and Articles of Association with all of the specifics of the member’s particulars, share capital, and meetings.

In Hong Kong, incorporating a company takes 5 to 10 working days.
The authorities issue corporate identity documents to the newly formed business.
Another dominant factor is the bank account, which allows the firm to receive and send money to begin operations.

Durable Power of Attorney

The promoter may choose someone to complete the challenging documentation of a company’s creates an attorney authorised to act on the company’s and its promoters’ behalf. The attorney can amend the memorandum, articles, and other documents submitted to the registrar.