Registration of Company Limited by Guarantee
Here's an overview of registering a company limited by guarantee in Hong Kong:
What is it?
A company limited by guarantee is a type of company suitable for non-profit organizations and clubs. Members guarantee a set amount to contribute if the company needs to wind up (close down). They don't have shares like a traditional company.
Registration Process
Name Search: Ensure your desired company name is available.
Articles of Association: This document outlines the company's rules and regulations.
Incorporation Form: Use the standard Form NNC1G from the Companies Registry.
Appoint Officers: You'll need at least one member, two directors (can be individuals or companies), a company secretary, and a Hong Kong resident as designated representative.
Business Registration Certificate: Apply for this with the Inland Revenue Department (IRD) unless you qualify for tax exemption.
Documents Required
Certified copies of ID (passport for non-residents, HKID for residents) for members, directors, company secretary, and designated representative.
Duly completed Incorporation Form NNC1G.
Proof of registered office address.
Activity and budget plan for the first year (if applying for charity status).
Time and Fees
Registration typically takes 4-6 weeks.
The fee depends on the number of members (HK$170 for 25 or less, increases incrementally).
Business registration fee may be waived if tax-exempt.
Additional Considerations
Applying for charity status under Section 88 of the Inland Revenue Ordinance is a separate process and can take over 6 months.
Resources
Companies Registry - Types of companies and changes affecting companies limited by guarantee: https://www.cr.gov.hk/en/faq/companies-ordinance/types-n-changes.htm
Setting up a Company Limited by Guarantee in Hong Kong: https://bestar-asia.com/
How Bestar can Help
Here's how Bestar can help with registering a company limited by guarantee in Hong Kong:
Streamlined Process: We have experience navigating the company registration process in Hong Kong, saving you time and ensuring all the necessary steps are followed.
Documentation Assistance: We can help complete the Incorporation Form (NNC1G) and ensure you have all the required documents in the proper format.
Meeting Legal Requirements: Our expertise can help you avoid common pitfalls and ensure your company adheres to all legal requirements.
Business Registration: We may assist with applying for the Business Registration Certificate with the Inland Revenue Department (IRD).
For complex registrations, particularly if aiming for charity status, consult Bestar. We have proven experience in Hong Kong company registration, especially for companies limited by guarantee.
Contact Bestar. We have experience with company registration limited by guarantee in Hong Kong. We have experience navigating the process for obtaining charity status (Section 88).
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