Hong Kong Company Incorporation Services – 3E Accounting Can Assist You

Hong Kong Company Incorporation services is getting more popular recently. 3E Accounting understand why Hong Kong has attracted so much company interest for opening a business and setting up a company in Hong Kong. Check out our Article Why Setup Company in Hong Kong. As a premier provider of Hong Kong company incorporation services, we are in a unique position to offer you a FULL array of services at the most attractive prices for set up company in Hong Kong. You may refer to Guide to Hong Kong Company Registration for more information about incorporate company in Hong Kong and how to open company in Hong Kong.

Crowned as one of the most competitive economies in the world, Hong Kong is a gateway to China as well as the rest of Asia for international investors. The main reasons that attract global investors to the country are very appealing: close proximity to Asian markets, capital freedom, robust financial market, and vibrant investment climate. All these factors have been the important drivers that make Hong Kong a premier investment destination for investors across the globe choose to setting up a company in Hong Kong.

3E Accounting could help you to register your company in Hong Kong at HK$3,000 ONLY. The Best & Fastest Company Formation Services in Hong Kong with no hidden costs and tricky add-ons. Besides, we also offer Hong Kong company setup without physically presence in Hong Kong.

Plan to setting up a company in Hong Kong? 3E Accounting provides services in Hong Kong company incorporation and incorporate company in Hong Kong.

  1. Must have at least one shareholder and director who are both of age of 18 years to setup company.
  2. Must have a company secretary (can be either a Hong Kong permanent resident or a Hong Kong company) for incorporation of Company in Hong Kong.
  3. Must have one registered office address in Hong Kong for setting up a Company.

3E Accounting Company Incorporation Package

Being the top Hong Kong company incorporation service provider, we have helped thousands of business with the company incorporation process. We ensure quick company registration so that you can start your company in Hong Kong as quickly as possible without facing any hassle.

Our Hong Kong Company Incorporation Package Services at HK$3,000 covers:

  • Company name check – to check the availability of your proposed company name.
  • Payment of the Hong Kong Government incorporation fee of HK$1,720
  • Incorporate a company and obtaining Certificate of Incorporation;
  • Standard Articles of Association;
  • Company kit includes standard Articles of Association, share certificates, minute book, register of shareholders and directors
  • Provision of one set of CPA certified true copies of the company incorporation documents needed for opening of bank account in Hong Kong*
  • Minutes of the First Director’s Meeting for company incorporation
  • Filing details of first directors and the company secretary with the Companies Registry
  • Preparation of Significant Controllers Register and provision of a designated representative to liaise with the Hong Kong authorities for one year.
  • FREE bank introduction and bank account opening services in Hong Kong (including guidance on the choice of bank) **
  • FREE one-year Corporate Secretary Services worth HK$1,500
  • FREE filing of “Form NAR1 – Annual Return” when you renew the Corporate Secretary Services in the second year ***
  • FREE first year “.com” domain name registration (upon company incorporation, please send your request to: [email protected] for registration)
  • FREE GSuite email setup with .com domain (single user)
  • FREE advisory on compliance requirements
  • FREE monitoring of filing deadlines for one year through email
  • FREE company incorporation consultation services
  • For Hong Kong company setup with directors, shareholders, beneficial owners, registrable controllers and nominator of nominee director are of more than 3 persons or entities, an extra charge of HK$300 per person or entity applies.
  • Assistance will be provided for the processing of Business Registration Fee payable to the government. Please note that, the Company Incorporation Package does not include the Business Registration Fee itself ******
  • Add on Registered address services for an extra fee of HK$1,000 per year ****
  • Add-on one company round stamp for an extra fee of HK$200.
  • Add-on one company seal for an extra fee of HK$400. (Companies no longer required by law to have a common seal)
  • No lock in period and no exit fees for Hong Kong Company Setup

The above package does not include accounting and tax filing services. That said, accounting and tax filing services can be provided subject to agreement of an additional fee. 3E Accounting will quote a fee following a review of the company’s accounting records at the end of the accounting period. The quoted fees will reflect the number of transactions entered into by the company and whether the records are complete and properly organised.

* This includes one set of CPA certified true copies of the company incorporation documents ( the Certificate of Incorporation, Business Registration Certificate, Articles of Association, Form NNC1, Company Particulars Search, and the Directors Declaration) requested by the banks for bank account opening purpose.

** 3E Accounting will provide complimentary guidance on the choice of bank (for the new company) based upon the intended business activity of the company as well as the client’s business background. Guidance and service include

  • outlines what are the information client needs to provide to the bank
  • provides a link to the banks website (for client) to submit their bank account opening application
  • arranges their account opening meeting.

Please note that 3E Accounting will not review the client’s account opening application or supporting documents prior to submission to the bank. 3E Accounting will not attend the meeting with the bankers and all communication will be just between the bank and the client. The decision whether to open a corporate bank account is entirely at the discretion of the bank and cannot be influenced by 3E Accounting. 3E Accounting will accept no responsibility or any claim for loss should the bank decline or delay to open an bank account for your Hong Kong company.

*** The preparation and filing of “Form NAR1 – Annual Return” that has to be filed at the Companies Registry 42 days after the anniversary of the incorporation.

**** In Hong Kong, the Registered Office Address does not necessarily be the place where the company conducts its business activities. On top of that, the Registered Office Address is not limited to a commercial address. In other words, residential address could also be accepted as the Registered Office Address. However, residential premises will have to comply with regulations that are not for commercial use. If the residential address is rented, it is important to take note if the terms in the tenancy agreement allow its usage as a registered office address. The residential address must also be able to receive all communications and notices during business hours. Therefore, the company registry strongly recommend a company to use a commercial address as its registered address.

***** Kindly be reminded that there is no services available for setting up of a Company on a specific date. In the event of such request is being received, we will try our best to fulfill it on a goodwill basis. However, we shall not be held responsible for Any Loss or Damages incurred as a result of the setting up of the Company with a different incorporation date.

****** The Business Registration Fee will be renewed on an annual basis as the amount set by the government can vary yearly. For instance, the Business Registration Fee prior to April 2019 is set as HK$2,250 per year but with effect from April 2019, it is reduced to HK$250 per year.

Why 3E Accounting’s Company Incorporation Packages is the Best in Hong Kong?

Joining hands with 3E Accounting to perform company incorporation in Hong Kong will help you set up your company in a hassle-free manner. We offer a wide range of company formation packages so that our customers can easily start their business in Hong Kong. Clients can choose the best company formation package as per their business requirement and easily run their business.

 

Advantages of Incorporating a Company in Hong Kong

  1. Hong Kong has a good legal system for Company Formation and set up company in Hong Kong
  2. Global investors can gain international credit due to Hong Kong’s reputation in the world economy.
  3. Hong Kong is the international financial hub for Company Setup.
  4. Hong Kong has no foreign exchange controls hence funds can be circulated freely after open company in Hong Kong:
    • foreign currencies can be exchanged and transferred as and when needed,
    • faster credit operations
  5. There is no limitation on business scope to incorporate a company in Hong Kong.
  6. Hong Kong has a simplified taxation system with low taxation rate.

 

Incorporating a Private Limited Company in Hong Kong

Private limited company is the most common and most favoured business vehicle in Hong Kong for setting up a business. Most small to medium sized companies in Hong Kong are incorporated as “private companies limited by shares” and these companies are commonly known as “private limited companies”. It is often chosen over other types of business vehicles owing to its many advantages:

Advantages of Setting Up a Private Limited Company:

1. Separate legal entity

A private limited company is a separate legal entity – this allows the company to acquire assets, go into debt, enter into agreements, sue or be sued all in the name of the company.

2. Limited liability

The shareholder’s liability is limited to the amount of his respective investment. Generally, the shareholder’s personal assets cannot be targeted if the company goes into debt.

3. Perpetual succession

Any change of membership will not affect the company’s continued existence and operation. After set up company in Hong Kong, the Company’s shares can be transferred easily and any change in shareholders (death, resignation, or insolvency of shareholders or directors) will not change the company’s business operations. This means the company has perpetual succession notwithstanding.

4. Business capital can be raised easily

It is always easier for a limited company to secure business loans compared to other business vehicles.

5. Ownership can be transferred easily

A limited company allows the complete or partial ownership transfer either by selling all (or part) of its total shares, or through the issuance of new shares to additional investors. In addition, business operations will carry on unaffected and legal documentation is not complicated.

6. Tax Benefits and Incentives

Private limited companies in Hong Kong enjoy several tax benefits.

  • Corporate tax (also known as profits tax): set at 16.5% of assessable profits for corporations. The two-tiered profits tax rate regime applied starting from the year of assessment commencing on or after April 1, 2018. The profits tax rate for the first $2 million of profits of corporations will be lowered to 8.25 per cent. Profits above that amount will continue to be subject to the tax rate of 16.5 per cent.
  • The taxation system in Hong Kong follows a territorial basis of taxation. Only profits, which are generated from Hong Kong, are taxable.
  • Hong Kong does not have capital gains tax, withholding tax on dividends and interest, sales tax or VAT.
  • Taxes needed to be declared annually.

 

Information Needed for Company Incorporation

To incorporate a company, the following information must be submitted to us through completion of our Online Incorporation Form.

  • Proposed company names
  • A brief description of primary business activities
  • For Locals – Copy of Local Hong Kong ID and proof of residential address of the proposed Company’s director(s), shareholder(s), beneficial owner(s) if any. For Work Pass holder, please provide us your passport, work pass, proof of residential address. (There is no local resident requirement in Hong Kong)
  • For Foreigners – Copy of passport, proof of foreign residential address and national identity card, if any, of the proposed Company’s director(s), shareholder(s), beneficial owner(s)/controller(s), nominator of nominee directors, if any. (There is no foreign shareholder restrictions in Hong Kong – a foreigner is allowed to own 100 percent shareholding in the company)
  • If company shareholder is a business entity, please provide the corporate shareholders registration documents copy which are the Memorandum & Articles of Association/ Constitution, Business Incorporation Certificate, Certificate of Incumbency or equivalent document (download sample at Certificate of Incumbency), registered address proof and etc. If the shareholders of the corporate shareholders is also a company or corporation, please provide similar set of business registration documents as mentioned earlier. We will require such requirement for all corporate shareholders until we can identify the ultimate individual shareholder(s). Kindly also provide details of the corporate representative(s) of all corporate shareholder(s) together with written documents showing the authorisation has given by the corporate shareholder(s) to the corporate representative(s).
  • A breakdown of shareholding percentages if there is more than one shareholder.
  • Information of beneficial owner if he/she is not listed as the named shareholder.
  • Amount of issued and paid-up share capital (liability of the shareholder — minimum of HK$1) (The paid-up share capital amount must be deposited into the company’s bank account as soon as the company’s bank account is set up, upon incorporation. Therefore, 3E will support a company’s incorporation with a total issued and paid-up share capital of up to HK$10,000 only. This is the maximum acceptable amount to be taken as paid up by shareholders, in cash, without them producing the proof of funds. For any request to increase the issued share capital amount above HK$10,000, if required, we can assist clients to do so at an extra fee after the company is incorporated. The need for a higher share capital amount may be due to various reason including but not limited to requirement by certain local Authority, contracting party, shareholders’ agreement, etc).
  • An address proof of Hong Kong registered office address (registered office address or physical office address), if any. We provide Registered Office Service if required.
  • All Applicant, director, nominee director, nominator of nominee director, shareholder, beneficial owners/controllers’ contact information (name, telephone, email, etc.) and occupation
  • A written confirmation (email is acceptable) that each of the director(s), nominee director(s), nominator of nominee director(s), shareholders, beneficial owners/controllers, and agents (if any) are not a Politically Exposed Person #.
  • Address of principal place of business (i.e. place where the business operation is being/to be carried out)
  • Source and origin of funds used/to be used in the business? (e.g. Employment / Business / Investment income from Hong Kong)
  • Expected location of Hong Kong Company’s customers and suppliers
  • Purpose of setting up the Company in Hong Kong (e.g. running of business / investment holding / any other purposes)
  • Estimated annual turnover of the Hong Kong Company to be generated from Hong Kong and Overseas.
  • Will the business operation be based in Hong Kong?
  • In addition, kindly scan us the following information (commonly requested by the Hong Kong’s banks), if any:-
    • Communication record with Clients in Hong Kong / China
    • Business Plan
    • Website for the company
    • Business ownership proof of existing overseas or Hong Kong company
    • Existing company’s financial report OR income tax report
    • Existing company’s latest 3 months business bank account statements
  • Agents contact information (name, telephone, email, etc.)
  • Agents copy of passport, proof of residential address and national identity card, if any
  • Agents copy of company registration documents containing the Certificate of Incorporation, and Certificate of Incumbency or equivalent document (Click Certificate of Incumbency to download the sample), if any
  • Copy of Authorization letter that the customer has appointed the agent to act on his behalf

# Politically exposed person refer to the individual or person who has been or is entrusted with any prominent public function in foreign country or Hong Kong, or a person or individual who has been or is entrusted with any prominent public function by an international organisation, and this includes a close associate or immediate family member of such a person or individual.

Steps to Incorporate a company in Hong Kong

  1. Complete and Submit the Online Company Incorporation Form
  2. We will do the company name search and check the proposed name(s) availability and contact you within 24 hours (See Guide to select your Company Name for more information)
  3. Email us the company name preferred for reservation together with the required company information and payment proof of our Hong Kong company formation fees
  4. Once we receive your payment, we will reserve the company name at your request
  5. Once the company name is approved by CR , we will then email you all the Hong Kong company registration documents for your signatures.
  6. Once we receive the scanned signed documents from you, we will contact you to perform a basic identity verification with you.
  7. Courier us the original company registration documents for submission to CR.
  8. Upon receipt of the original company registration documents, we will proceed to incorporate the company with CR
  9. Issuance of Certificate of Incorporation by CR
  10. Upon completion of company incorporation process, 3E Accounting will email you all the relevant registration documents for your records.

Based on 3E Accounting’s past experiences on opening a business and registering company with CR, the entire Hong Kong company incorporation process will take approximately 3 – 5 working days.

Hong Kong Company Incorporation Services

Company incorporation in Hong Kong can be easy with the assistance and guidance of the professionals. Contact us today and let us guide you further for set up company in Hong Kong!