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Hong Kong Company Formation

Updated:2017-10-25 15:40:26    Source:www.tannet-group.comViews:254

Hong Kong company formation (also known as Hong Kong business setup, Hong Kong company incorporation, Hong Kong corporate formation, Hong Kong company registration) is one kind of Tannet's buisness investment service in China. Hong Kong is an international metropolis with abundant information and opportunities. With sound infrastructure and legal system of its own, it provides favorable financial & commercial environment for entrepreneurs and investors. Therefore, more and more people have established their own companies in Hong Kong with different purposes, which improve not only the image of the company itself, but also the competitive ability in the international market. The followings are the basic facts for your business success in Hong Kong.

If you live and work overseas, but want to invest or incorporate a business in Hong Kong, you can simply rely on Tannet in providing the service for you. Tannet can handle and help everything for you, because Tannet is familiar with business formalities and investment portfolio in Hong Kong, where Tannet is able to give you a tangible solution.

I. CORPORATE SHAREHOLDERS, DIRECTORS AND COMPANY SECRETARY
At least one shareholder, one director and one company secretary is needed for a Hong Kong limited company. A natural person aged above 18 years old is eligible for a shareholder or director or both. Shareholders could also be acted by a legal person, as far as corporate structure is concerned. In Hong Kong, a statutory company secretary should be acted by a Hong Kong natural or legal person for and on behalf of the company to ensure compliance with ongoing legal returns to, and other requirements from the Hong Kong government. Details of the company's directors, shareholders and company secretary must be filed at the Companies Registry for public search.

II. COMPANY NAME AND NAME SEARCH
In Hong Kong, a trade name is much easier to define as long as you do not infringe the trademark of other companies. The name of a limited company should be ended with “limited”. You can use English company name, Chinese company name or both. If you like, you can also add a country name or city’s name in front of or inside the company name, such as: France, USA, Italy, Japan, London, Beijing, Shenzhen, Shanghai and so on. Tannet provides free name search for any applicant.
 
III. BUSINESS SCOPE FOR HONG KONG COMPANY
In principle, there are no great restrictions on the business scope of Hong Kong companies. But we suggest you to define your business activities before you set up a Hong Kong company; you can decide whether to show the business activities on the business registration license or not.

IV. ISSUED CAPITAL AND SUBSCRIBED CAPITAL
In general, the standard issued capital and subscribed for a Hong Kong limited company will be HKD10,000.  

V. PROCESSING STEPS FOR A HONG KONG COMPANY
Fill out an application form→ Payment→ Sign statutory documents personally→ Forward the documents to the Hong Kong relevant government departments immediately→ Finish within 7-15 working days→ Collect the documents at the designated office within three months.

VI. DOCUMENTS REQUIRED FOR HONG KONG BUSINESS SETUP
If you want to have a company registered in Hong Kong, you are simply required to fill out an application form, with copies of the valid passport, and sign the whole set of statutory legal documents personally. Tannet will cater to your registered address and legal secretary if necessary.

VII. TANNET’S SERVICES, GOVERNMENT FEE AND SERVICE FEE
Tannet services include one business registration license, one certificate of incorporation, three chops, one copy of share certificate, 9 copies of M & A, one copy of statutory book for director’s record, one official receipt, incorporation form and one company kit; the registered address, the legal secretary for the first year and statutory filings (NNC1) . 
Terms of Payment: Our service fee is RMB 7800. The service will start when you fully paid the service fee.

VIII. BANK ACCOUNT OPENING AND SERVICE FEE
Tannet is often honored as valuable business partners by many local or international banks in Hong Kong. Tannet’s assistance in the bank account opening and follow up will make you easily establish business relationship and smooth paper processing with banks. Tannet’s services includes recommending banks, making appointment, offering certified true copy by our CPA, working as a referee and guide for the whole processing, providing contact address and following up bank documents.
For the bank account opening you might need business plan and address proofs (electricity or phone bills in the latest three month in English or Chinese vision) for bank reference.

IX. LEGAL SECRETARY, COMMERCIAL SECRETARY
Although a legal secretary is necessary and required by the local government for a Hong Kong limited company, a commercial secretary would be an alternative offered by Tannet. The commercial services include information and data processing, taking order, trade documents processing, telephone answering and transfer, travel arrangements, meeting arrangement, mailing service, policy study and market analysis, telephone survey. A secretarial service could be done virtually through e-mail, fax, telephone and the Internet to small, medium-sized, and home based businesses.

X. ANNUAL RETURN AND SERVICE FEE OF HK CORPORATE FORMATION
Each year the company must submit an annual return to the Hong Kong Companies Registry and the Hong Kong Inland Revenue. You can let it be done by Tannet by simply signing back the confirmation letter. Tannet will give you one month notice before it gets overdue. If failed, penalties will be implemented accumulatively, you can’t expect that the company will be suspended and cancelled eventually as China does, the maximum fine could be as high as HKD700 per day per owner.

XI. ACCOUNTING SERVICES: BOOKING, AUDITING, TAX LAYOUT AND TAX RETURN
If a company has business running within Hong Kong, account book should be well kept monthly for an annual audit before you carry on a tax return to the Inland Revenue. Tannet can arrange bookkeeping and auditing for you in time of need. Every company is required to finish tax return annually. Submission of “nil” profit tax return without auditor’s report and financial statement would be accepted for the companies without business operation. Tannet can not only make your accounts well kept, but also makes financial analysis to the previous years and budge report to your future development.

XII. TAXATION IN HONG KONG
Hong Kong has created an image of low tax and few tax environments. The new profits tax system will cut tax rate for the first 2 million HK dollars (256,410 U.S. dollars) of company profits from 16.5 percent to 8.25 percent. There are several features of the Hong Kong tax system. For most commodities, there are no import tax and export tax.

XIII. OTHER SERVICES IN HONG KONG
Tannet provides the SMEs with assistance services such as corporate legalization or notarization, bank reference letter, logistic and warehouse services, website design, trademark registration, ISSN and ISBN application, entry visa or work permit.

XIV. WHY CHOOSE HONG KONG
Due to the simply tax system in Hong Kong, Hong Kong has an intermediate character between Worldwide and Mainland China in geographic matters, setting up a Hong Kong company is much convenient to all SMEs to extend their business to worldwide or mainland China.

XV. WHY CHOOSE TANNET
Tannet had an abundant experiences (over 18 years) with company or business set up and also with a healthy co-operative platform between SMEs, Tannet can provide you all direction services which can help you to extend your international  business worldwide.

XVI. CONTACT US
If you have further queries, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143512, or emailing to tannet-solution@hotmail.com. You are also welcome to talk with Tannet online by simply joining our MSN: tannet-solution@hotmail.com.

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