Starting A New Company In Hong Kong For Beginners

When you run a business, in some cases it is necessary to officially set up a company where you get a business registered certificate.

When you deal with many international clients and vendors across different countries, in some cases it is beneficial to set up a company in Hong Kong.Hong Kong company setup cost is relatively inexpensive.

Do youhave to live in Hong Kong to start and run a company?

The simple answer is no.

Assume you reside elsewhere in the world. There is no need for you to physically work from Hong Kong.

What if you want to relocate in Hong Kong, can you do that?

It’s totally possible. But if you want to relocate to Hong Kong, there are two visa options.Your company will have to apply for a work visa or an investor visa for you.

Before you can obtain the required visa, you’ll have to prove that your company will benefit Hong Kong and the local work force.Hiring the local people is an indication. Other indications include the amount of taxes paid, product innovation, or more.

The exception is when it is a side business that you’re doing in your late evenings every day. A side business itself isn’t considered a serious or long term business. So don’t use the side business for the application of visa.

How long does it take to open a new Hong Kong company?

It usually takes 2 to a few weeks for the Hong Kong company registration.

For the HK company, are you expected tocreate a bank account? And are you expected to present in HK for the new bank account?

To open aHong Kong bank account for your company, you’ll have to make an appointment with the HK bank. When going through the actual account opening process, you’ll have to physically present at the bank.

In some cases, not everyone is able to present themselves at the bank. Alternative method is you can use an offshore bank account.

Can you get an agency to help register your company, and handle all the accounting and auditing procedures?

You can certainly get a local agency to do that. But it also depends. For example, the agency needs to have the staffs who are able to work on accounting and auditing.

Are you looking for a licensed agency that can help you register your Hong Kong company?

For Hong Kong company registration, why not do it yourself through an online platform, such as this one.