Important Requirements for forming a company
An offshore company established in Hong Kong must appoint at least one director, however, the number of directors might be infinite. They do not need to be Hong Kong residents.
A minimum of one stakeholder is necessary, with a maximum of fifty. Either individual or a big company can have the shares.
The Get Started HK Company must additionally appoint a local individual or corporate resident to serve as the firm’s secretary.
Procedure
Foreign investors have two options when it comes to forming an offshore business in Hong Kong. They have the option of forming a new firm or purchasing an existing one.
Companies that are simply registered but do not have any obligations or assets are known as shelf companies, and they can be purchased by investors who do not have the time to wait for a new business to be formed. After purchasing it, investors may invest in the company’s directors and secretary, increase the share capital, and modify the name and registration address.
Investors who want to start a new firm must be aware of a few facts. First, the proposed company name must be checked at the Companies Registry. It can be reserved if it is neither a duplicate nor too similar to another one.
Documents needed:
- registration application form
- Memorandum of Association and Articles of Incorporation
- passport copy of the founders
- bank reference letter for non-resident shareholders or directors
- copy of Hong Kong identity card for Hong Kong resident shareholders or directors and copy of parent company registration
After 14 days of registration, the offshore firm must also deposit the following documents:
- report of the registered address
- the judgment to choose the director(s) and secretary, as well as their consent to serve in such capacities
- Depending on the nature of the business, the Business Registration Office may request additional documentation.
- A bank account must be opened, and the company must be registered with the Inland Revenue Department within one month of its formation.
Only if the above stages have been completed may overseas investors begin conducting business and reap the benefits of having register a company in hong kong offshore company formed in Hong Kong.
