Register Hong Kong Company
- a22162
- 22 hours ago
- 5 min read
Register Hong Kong Company
Registering a company in Hong Kong is a straightforward process, especially with the availability of online e-Services Portal. The key steps include choosing a company name, preparing necessary documents (Articles of Association, Incorporation Form, Notice to Business Registration Office), and submitting these to the Companies Registry. The entire process can be completed remotely within a few days.
Here's a more detailed breakdown:
1. Company Name:
The name must be unique and can be in English, Chinese, or both.
If using Chinese characters, they must be traditional characters found in specific dictionaries and the ISO 10646 standard.
The English name must end with "Limited," and the Chinese name must end with "有限公司".
You can check for name availability through the e-Search Services on the e-Services Portal.
2. Documents Required:
Articles of Association:
Defines the company's structure, share capital, and operational procedures.
Incorporation Form:
(NNC1 or NNC1G) Captures details about the business, including its nature, registered address, share capital, and information on directors, shareholders, and the company secretary, available on the Hong Kong Companies Registry.
Notice to Business Registration Office:
A notice to inform the Business Registration Office of the company's new business.
Identification Documents:
Certified copies of passports or Hong Kong ID cards for all directors and shareholders.
Proof of Address:
Utility bills or lease agreements for directors and shareholders.
3. Submission and Fees:
Documents can be submitted online through the e-Services Portal.
Alternatively, they can be submitted in hard copy to the Companies Registry.
The incorporation fee is currently HK$1720, with a potential 10% reduction if submitted through the e-Registry.
Business registration and levy fees are also payable, with options for one-year or three-year certificates.
4. Timeline:
The entire process, from document preparation to certificate issuance, can be completed within a few days, with online submissions often resulting in faster processing times.
5. Other Important Considerations:
A registered address in Hong Kong is mandatory.
A company secretary is required, who can be an individual or a company.
A Designated Representative (DR) is needed to assist with the Significant Controllers Register (SCR).
While there's no minimum share capital requirement, it's common practice to have around HK$10,000.
Consider engaging a service provider to assist with the process, especially if you are a foreigner.
6. Business Registration:
All businesses operating in Hong Kong must register with the Inland Revenue Department (IRD) within one month of commencing business.
Changes to registered details must be reported to the IRD within one month.
The IRD maintains a public Business Register.
The Unique Business Identifier (UBI) is now used as the universal identifier for all entities under the Registrar of Companies, simplifying the identification process.
Fees
The fees for registering a company in Hong Kong are comprised of various government fees and, if you use a professional service, service charges from Bestar. The costs can be broken down into one-off setup fees and recurring annual maintenance fees.
One-off Company Registration Fees (Government Fees)
Company Registration Fee: This is the fee for incorporating a company with the Companies Registry.
For a company limited by shares, the fee is HK$1,720 for hard copy submission and HK$1,545 for electronic submission.
There is a non-refundable lodgment fee and a refundable registration fee component.
Business Registration Fee: This is a separate mandatory fee paid to the Inland Revenue Department for a Business Registration Certificate.
For a one-year certificate, the fee is approximately HK$2,200.
For a three-year certificate, the fee is approximately HK$5,870.
Note that the levy for the Protection of Wages on Insolvency Fund (which is usually a part of this fee) has been temporarily waived for a period.
Ongoing Annual Fees
Annual Return Filing Fee: All Hong Kong companies are required to file an annual return (Form NAR1). The fee for timely submission is HK$105. Late submissions incur significant penalties that increase with the delay.
Business Registration Certificate Renewal: The Business Registration Certificate must be renewed annually (or every three years, depending on your choice). The renewal fee is the same as the initial registration fee (e.g., HK$2,200 for a one-year certificate).
Company Secretary and Registered Address: Every Hong Kong company is legally required to have a company secretary and a local registered address in Hong Kong.
You can expect to pay around HK$2,500 per year for a package that includes both services.
This service is provided by Bestar.
Accounting, Auditing, and Tax Filing: These are also ongoing costs. The fees for these services are highly dependent on the company's size, turnover, and the complexity of its transactions.
Total Costs
The total cost to set up a new company in Hong Kong using Bestar can range from HK$8,500 to HK$30,000 or more, with many packages including the government fees, company secretary, and registered address for the first year. These packages offer convenience and ensure compliance with all legal requirements.
How Bestar can Help
For many entrepreneurs, especially those who are not residents of Hong Kong, using a professional service to register a company is a highly effective and popular option. Bestar offers a range of benefits that streamline the entire process.
Expertise and Efficiency
Navigating Regulations: Hong Kong's company formation process is straightforward, but it has specific legal requirements and procedures. Bestar has in-depth knowledge of these regulations and can ensure your application is accurate and compliant, preventing costly delays or rejections.
Faster Processing: Bestar is well-versed in the required documents and submission processes. Bestar offers digital-first solutions and can complete the electronic registration with the Companies Registry quickly, often within a few business days.
Comprehensive Support and Compliance
Mandatory Requirements: Every company in Hong Kong is legally required to have a local registered address and a company secretary. Professional services include these as part of our packages. We can provide a registered office address and act as your company secretary, fulfilling these mandatory requirements.
Document Preparation: Bestar prepares and files all the necessary incorporation documents on your behalf, including the Incorporation Form (NNC1), the Articles of Association, and the Business Registration Form (IRBR1). This reduces the administrative burden on you and ensures everything is prepared correctly.
Ongoing Compliance: Beyond the initial setup, Bestar also provides ongoing support for annual compliance. This includes filing the Annual Return (NAR1), renewing the Business Registration Certificate, and maintaining the company's statutory records.
Additional Services
Bestar offers a suite of services that go beyond just company registration, helping you get your business up and running smoothly. These can include:
Bank Account Opening: A significant challenge for non-residents is opening a corporate bank account. Bestar assists with this process, helping you prepare the necessary documents and sometimes even facilitating the application with their partner banks.
Accounting, Auditing, and Tax: We can provide accounting and auditing services to ensure you meet your financial reporting obligations. We also offer tax planning and filing services, which are crucial given Hong Kong's territorial tax system.
Visa and Immigration: If you plan to work in Hong Kong, Bestar can assist with visa applications, such as the "Employment as a professional" or "Investment" visas.
Business Advisory: We can offer strategic advice on choosing the right company structure, optimizing your business for tax purposes, and navigating the local business landscape.
In essence, using a professional service allows you to focus on your core business activities while we handle the complexities of legal and administrative compliance. This is particularly valuable for foreign entrepreneurs who may not be physically present in Hong Kong or familiar with its specific business laws.