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How to Register a New Company - Cr.gov.hk

Updated: Feb 11


How to Register a New Company - Cr.gov.hk | Bestar
How to Register a New Company - Cr.gov.hk | Bestar


Registering a Company in Hong Kong


How to Register a New Company - Cr.gov.hk


Registering a new company in Hong Kong can be done electronically via the e-Services Portal of the Companies Registry (CR) or by delivering the documents in hard copy to the CR with the correct fees.   


Here's a quick guide on how to register a new company in Hong Kong through the e-Services Portal:


  1. Prepare the required documents:

    • Incorporation Form NNC1 (for company limited by shares) or Form NNC1G (for company not limited by shares)   

    • A copy of the company's Articles of Association (samples are available for use at e-Services Portal)   

    • A Notice to Business Registration Office (IRBR1)   

  2. Access the e-Services Portal:

  3. Log in to your account:

    • If you are an individual user who has subscribed to e-Filing Services, you can log in using your existing credentials.

  4.  Select "Incorporation > Local Company" to form a company limited by shares or a company not limited by shares.   

  5. Input the required data in the web form and complete the incorporation and business registration process.


Once you have submitted your application, it will be processed by the Companies Registry. If your application is approved, you will be able to download or collect the Certificate of Incorporation and Business Registration Certificate electronically.


More Comprehensive Information


Here's more information on registering a new company in Hong Kong:


Types of Companies You Can Register:


  • Private Company Limited by Shares: The most common type, offering limited liability to shareholders.

  • Public Company Limited by Shares: Can offer shares to the public and list on a stock exchange.

  • Company Limited by Guarantee: Formed for non-profit purposes, where members guarantee a certain amount in case of the company's dissolution.

  • Unlimited Company: Members have unlimited liability for the company's debts.


Key Requirements:


  • Company Name: Must be unique and comply with specific guidelines (e.g., cannot be misleading or offensive).

  • Registered Address: A physical address in Hong Kong where official correspondence will be sent.

  • Shareholders: At least one shareholder is required.

  • Directors: At least one director is required.

  • Company Secretary: A resident director or a corporate secretary licensed in Hong Kong.

  • Memorandum and Articles of Association: These documents outline the company's purpose, structure, and internal rules.


Incorporation Process:


  1. Choose a Company Name: Check availability on the CR website.

  2. Appoint Directors and Shareholders: Obtain necessary identification documents.

  3. Prepare Incorporation Documents: Complete the necessary forms (NNC1 or NNC1G) and draft the Articles of Association.

  4. Submit Application: File the documents online through the e-Services Portal or in person at the CR.

  5. Pay Fees: Pay the required government fees.

  6. Obtain Certificates: Upon approval, receive the Certificate of Incorporation and Business Registration Certificate.


Post-Incorporation Steps:


  • Open a Corporate Bank Account: Required for conducting business transactions.

  • Obtain Necessary Licenses and Permits: Depending on your business activities, you may need additional licenses or permits. 

  • Comply with Ongoing Obligations: Maintain accurate company records, file annual returns, and comply with relevant tax laws.


Additional Consideration:


  • Virtual Office: If you don't have a physical office space, you can use a virtual office service to fulfill the registered address requirement.


Hong Kong Company Incorporation Costs


The main costs involved in incorporating a local limited company in Hong Kong can be broken down into government fees and professional services. Here's a general price guide:


Government Fees:


  • Incorporation Fee: This is payable to the Companies Registry. For electronic submission, it's HK$1,545 for a company with share capital.

  • Business Registration Fee: This is an annual fee payable to the Inland Revenue Department. It's currently HK$2,000 for a 1-year certificate.


Professional Services:


  • Company Secretary: Every Hong Kong company must have a company secretary, who can be an individual or a corporate entity. Costs vary depending on the service provider and the complexity of the company's needs. Expect to pay anywhere from HK$2,000 to HK$10,000 or more per year.

  • Registered Address: Every Hong Kong company must have a registered address in Hong Kong. Costs vary depending on the service provider and the location of the address. Expect to pay anywhere from HK$1,000 to HK$5,000 or more per year.

  • Other Services: You may also need to pay for other professional services, such as:

    • Company Formation: Some companies offer packages that include company registration, business registration, company secretary, and registered address services. Costs vary depending on the package.

    • Legal Advice: If you need legal advice on any aspect of company incorporation or operation, you will need to pay for legal services.

    • Accounting and Auditing: You will need to engage an accounting firm to prepare your company's financial statements and have them audited. Costs vary depending on the size and complexity of your company.


Total Costs:


The total cost of incorporating a local limited company in Hong Kong will vary depending on your specific needs and the service providers you choose. However, you can expect to pay at least HK$5,000 to HK$10,000 in government fees and professional services in the first year.


Additional Considerations:


  • Complexity of the Company: If your company has a complex structure or requires specific services, you can expect to pay more.

  • Service Providers: Costs vary depending on the service providers you choose. It's important to compare prices and services before making a decision.

  • Ongoing Costs: In addition to the initial incorporation costs, you will also need to pay ongoing costs, such as the annual business registration fee, company secretary fees, and registered address fees.


Tips for Saving Money:


  • Do it yourself: If you are comfortable with the process, you can save money by handling some of the tasks yourself, such as preparing the incorporation documents.

  • Shop around: Compare prices and services from different service providers before making a decision.

  • Use online resources: There are many online resources available that can help you with the company incorporation process.

  • Consider a virtual office: If you don't need a physical office, you can save money by using a virtual office for your registered address.


Resources


Here are some resources that you may find helpful:



How Bestar can Help

How to Register a New Company - Cr.gov.hk


Bestar can provide invaluable assistance during the company registration process in Hong Kong. Here's how we can help:   


  • Guidance and Advice:

    • Can provide expert advice on the most suitable company structure (e.g., limited liability company, partnership), applicable laws and regulations, and compliance requirements.   

    • Can advise on tax implications, accounting standards, and financial reporting requirements.   

  • Document Preparation:

    • Can assist in preparing the necessary incorporation documents, such as the Memorandum and Articles of Association, ensuring they are accurate, complete, and compliant with legal requirements.

  • Name Availability Check:

    • Can help you choose a suitable company name and check its availability with the Companies Registry.

  • Application Filing:

    • Can assist with the online or offline filing of incorporation documents with the Companies Registry, ensuring a smooth and efficient process.   

  • Post-Incorporation Support:

    • Can provide ongoing legal advice on corporate governance, employment law, and other legal matters.

    • Can assist with bookkeeping, tax filing, and financial management, ensuring compliance with all relevant regulations.   

  • Risk Mitigation:

    • Can help identify and mitigate potential legal and financial risks associated with company operations.   


Key Benefits of Engaging Bestar:


  • Expertise and Knowledge: Bestar has in-depth knowledge of Hong Kong's company laws and regulations.

  • Efficiency and Accuracy: We can streamline the incorporation process and ensure accuracy in all documents.   

  • Peace of Mind: Knowing that the process is being handled by Bestar can provide significant peace of mind.

  • Reduced Risk: Bestar can help identify and mitigate potential legal and financial risks.   


By engaging Bestar, you can significantly increase the efficiency and accuracy of your company registration process while ensuring compliance with all relevant laws and regulations.   





 
 
 

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