How much does it cost to start a business in Hong Kong?

How much does it cost to start a business in Hong Kong?

Fees

Different Hong Kong entity types	Registration cost	Annual maintenance fees
PLC company	US$8,600	US$4,900
LLC with employment visa	US$15,205	US$5,000
Hong Kong company with China corporate bank account	US$11,655	US$5,000
Foreign trust	US$16,000	US$11,600

How do I start a small business in Hong Kong?

Below are some steps to take in order to establish a new company in Hong Kong.

1. Determine your company name.
2. Choose a legal structure for your business.
3. Register your company.
4. Incorporate your business entity.
5. Open a company account.
6. Get permits and licenses.
7. Hong Kong tax.
8. Pensions and insurance requirements.

How easy is it to start a business in Hong Kong?

Most importantly, opening a business in Hong Kong is relatively easy and cost-effective. As a foreigner you can own 100% of your business in Hong Kong, and you may be the sole director and shareholder. Attractively, Hong Kong is also a great gateway for establishing your business in China or other Asian nations.

Is it good to start a business in Hong Kong?

It’s easy to open and operate a business in Hong Kong In fact, Hong Kong is ranked fourth globally in the “ease of doing business” rankings. The city offers low corporate taxes and even some tax breaks, with a great reputation for supporting SMEs. The government has many support initiatives for businesses, too.

Can a foreigner start a company in Hong Kong?

Foreigners Who Plan to Start a Business in Hong Kong A foreigner has the complete right to be the individual director and shareholder of a company in Hong Kong. There is no requirement for a local resident to do so.

What business is good in HK?

With thousands of startup business opportunities, have a look at this list of 10 small business ideas in Hong Kong and get started!

• Business Consultants.
• Travel Agency.
• Product Sourcing Agent.
• Call Center Agency.
• Freight Forwarder.
• Manufacturing.
• App Developer.
• Furniture Making and Remodeling.

How can I open a store in Hong Kong?

In order to open an online shop in Hong Kong investors will need to consider purchasing a domain name and incorporating a company that will act as the seller of the online goods. Our team of Hong Kong lawyers highlights the main aspects related to opening an online business in the city and its advantages.

Why should you invest in Hong Kong?

Benefits of investing in Hong Kong include: Leading Global Economy: Hong Kong is the freest country and perhaps the most important financial center in the world. Proximity to Asian Growth: Many of the world’s largest economies moving forward will be based in Asia, which puts Hong Kong in a strong geographical position.

Why do companies like to invest and do business in Hong Kong?

Companies in Hong Kong don’t only benefit from a low taxation regime. The company incorporation process is also simple and straightforward and is almost inviting foreign investors in the city. Hong Kong is not just the top Asian city to invest in. It could also be the city where your company will grow and prosper.

Who can register a company in Hong Kong?

Any person or organization is allowed to register a company in Hong Kong. Further, a minimum of one shareholder is required, whether local or foreigner. Note that the shareholders must be over 18 years. At least one director, local or foreigner, is also required.

What business can I start in Hong Kong?

How do I register a business name in Hong Kong?

How to Obtain Business Registration Application Forms

1. e-mail to [email protected], complete the form IRBR194 or request in writing by post or by fax (2824 1482) to the Business Registration Office.
2. Obtain in person at the Business Registration Office at 4/F of Revenue Tower, Wan Chai.

How to register a company in Hong Kong?

Select the appropriate company type. Initially,investors should consider their company’s needs,its size,their financial ability,and features of each entity type before incorporating a business.

Choose a company name. Unlike other offshore jurisdictions (BVI,Seychelles,Belize,etc.),the Hong Kong Companies Registry (CR) do not give provisional approval,or reservation,of company name.

Decide on the company structure. Registered address: it is compulsory to have a local address for company registration in Hong Kong. A P.O box is not permitted.

Proceed to open a company in Hong Kong. Copies of all company documents for corporate shareholders. Filing an application for approval of the proposed company name with the CR.

Apply for business licenses and permits. Most of business activities can be operated in Hong Kong freely.

Open a corporate bank account. Though you can have a corporate bank account in any countries for the Hong Kong company,banks in the same territory are most recommended

Do the annual maintenance filings. Annual renewal of the Business Registration Certificate: Applying for the renewal one month before the expiry date.

How long to spend in Hong Kong?

When you are planning a trip to Hong Kong, do not make it too lengthy (2 – 3 weeks) or too short like (3 – 4 days). The realistic time span to spend and enjoy in Hong Kong is about one week. It will be ideal for you to spend a lot of time discovering some of the beautiful and varied culture in Hong Kong.

How small is Hong Kong?

Hong Kong is a small-sized island covering 1,095 sq. km (423 sq. miles). However, there are currently many reclamation projects at hand, thus expanding the land area.

Is Hong Kong a market?

Costume Market. Hong Kong is a party town and this is its party market. There are novelty costumes, ball masks, and various other cheap accessories to make your soiree go with a swing. This place is packed during the run-up to Halloween.