How to Register a Company Fast in Hong Kong
Have you been looking forward to growing your business into a multinational? You need to make the first and most important step, which is incorporating it in an offshore jurisdiction of choice. A good offshore jurisdiction should have the right business environment, a straightforward tax regime, and supportive administration. One of the jurisdictions that fit this bill is Hong Kong.
Why Hong Kong?
Before we can look at the two main methods of registering a company in Hong Kong, it is important to answer the question, “Why is Hong Kong the best place for offshore business?” Here are the three main benefits of setting up a company in Hong Kong.
- Ease of Registering a Company
If you take a closer look at the process of registering companies in many jurisdictions abroad, it is very complicated, but Hong Kong is different. The process is guided by the Hong Kong Company Ordinance, which lists all the things that you need to register a company. You can even register a company without traveling to Hong Kong.
- Open-Oriented Market
For about two decades, Hong Kong has been ranked at the top of the Ease of Doing business by the World Bank. As one of the freest economies, Hong Kong supports almost all types of businesses, and you can even have a bank account in any location.
- A Business-Oriented Administration
The Hong Kong administration has been very proactive in passing creative pro-business policies that make it easy for foreign businesses to start and grow. The administration also runs incubation programs to support high-potential startups.
From these three points, you can see that this is a jurisdiction that is overflowing with potential, and you should not be left behind in taking your enterprise there. Keep reading to see the two main methods of registering a company in Hong Kong.
Methods of Registering a Company in Hong Kong
- Register a Company On Your Own
As we mentioned earlier, the process of incorporating a business in Hong Kong is so much simplified, and you can follow the process provided in the Companies Ordinance to prepare the documents, such as the articles of association, and memorandum of understanding. Then, submit them to the company registry for consideration.
However, registering a company on your own is still challenging for many people. First, many people find the number of documents needed too many, and some of them complex to prepare. Also, you will need to fly to Hong Kong severally during the process.
Getting a company secretary and an office in Hong Kong is also not easy. Imagine having to run several ads on Hong Kong newspapers and hopping from one skyscraper to the next looking for an office. It can be really tough! The best method is working with an agency.
- Incorporate a Company in Hong Kong with the Help of an Agency
Instead of trying to register a company on your own, the Companies Ordinance allows you to seek help from an agency. You will find the agency method very effective because you do not even have to fly to Hong Kong to file your documents with the registry.
Because agencies specialize with company registration, they will easily prepare all the documents you need, meaning that you will be able to complete the registration faster. Furthermore, the agency you select can also serve as your company secretary and address.
If you want to grow your business fast, Hong Kong has stood out as a high-potential jurisdiction that can help you to make it the multinational of your dreams. To make the process of company registration and getting started in Hong Kong easy, make sure to identify and work with a good agency. Click here to reach our professionals for help.
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