Company incorporation in Hong Kong is the easiest and fastest way to set up a Chinese territory business. Hong Kong is the financial hub of China and is the principal reason most Chinese people opt to start a business in another country. Opening a business in another country can be a precarious business because you risk being rejected by your competitors in your own country. In Hong Kong, however, there are no restrictions or laws that govern your business, making the place ripe for all kinds of companies. It is a free zone and has low taxes making it very attractive for anyone who wishes to open a company.
When you decide to form the company incorporation Hong Kong, you must pay attention to all company formation benefits in Hong Kong. It would help if you kept in mind that the company must be registered at the Companies Registry under the Companies Act 1985. The company’s office station is usually in the Central Business District (CBD), Commercial Street, Causeway Bay, or Wanchai. Still, if you wish, you can have an office at any of these locations. If you are interested in having your business open at any of these places, you must get a company administration license. It is one of the essential benefits of company incorporation in Hong Kong.
After getting the license, you can now proceed to register your company. You must pay a small amount of registration fee, and then you can run your business as you like. You also must pay the annual registration fee for the company, which is not more than $125. There is also a government fee, which is not included in the registration fee.
Another essential benefit of company incorporation in Hong Kong is that you cannot pay tax on your income. You must pay tax only when you make any profit. Your business’ income tax is only applicable to the company itself and not to the individuals who work for it. However, you are still expected to pay the income tax to the government.
One more benefit of company incorporation in Hong Kong is that you can save a lot of money by doing business here. There is no need to pay taxes on your profits since they are already taxable. The company secretary will take care of the registration and any other issues related to the business. Besides the registration fee, there are additional charges for company incorporation in Hong Kong, which are payable according to the terms and conditions. These include the registration fee, the annual fee for the company administration, the VAT, and the income tax.
When you start your company, you must register it at the Companies Registry. It is the safest place to report any company. You should provide the details of your company and its objective correctly. Then the company secretary will process the company incorporation in Hong Kong. You should keep the details of all the registered companies in your name to not have to pay the company administration fees every year.
Before the company incorporation in Hong Kong, you should look for the appropriate company secretaries. Company secretaries are usually registered agents of the companies they work for it.
Another essential step to take before company incorporation in Hong Kong is to submit your application for registration. You should apply for the company registration at the Companies Registry under the SSS (Securities and Standards Registry) of Hong Kong. After the submission of the application, you will receive an enrolment form from the Registry. You will have to attend the Annual General Meeting (AGM) of the Registration of Company. When you are invited to the AGM, you should forward all the relevant documents to the other companies’ company secretaries.