The Essential Guide: How to Register a New Company in Hong Kong

The Essential Guide: How to Register a New Company in Hong Kong | Bestar

Registering a Company in Hong Kong

The Essential Guide: How to Register a New Company in Hong Kong

Hong Kong is one of the world's most dynamic and business-friendly environments, offering a strategic gateway to mainland China and the broader Asian market. Its low corporate tax rate and robust legal system make it an attractive location for entrepreneurs globally.

If you're looking to establish your presence in this financial hub, here is an SEO-optimized, step-by-step guide on how to register a new company in Hong Kong.

Step-by-Step Company Registration Process

Registering a company in Hong Kong is a straightforward process, typically completed by incorporating a private limited company (the most common structure).

1. Choose and Reserve a Unique Company Name

Your chosen name must be unique and not already in use by another registered entity. You should search the Companies Registry (CR) website to check for availability and ensure compliance with naming guidelines. The name can be in English, Chinese, or both.

2. Determine the Company Type and Structure

The vast majority of foreign and local businesses opt for a Private Limited Company.

• Structure: You must set up the company's structure, which includes determining the number of shareholders and directors, and defining their respective roles.

  • A Hong Kong Private Limited Company requires at least one shareholder and one director. Both can be the same person and do not need to be a Hong Kong resident.

• Share Capital: The minimum required share capital for a private limited company is a nominal HK$1.

3. Appoint a Company Secretary and Provide a Local Address

Hong Kong law mandates that every company must appoint a Company Secretary and maintain a local registered office address in Hong Kong.

• Company Secretary: This individual or corporate body is responsible for ensuring the company complies with all ongoing statutory laws and regulations, such as maintaining official records and filing annual returns. The secretary must be a Hong Kong resident or a corporate body with its registered office in Hong Kong.

4. Prepare and File the Incorporation Documents

Once the structure is finalized, you must file the required incorporation documents with the Companies Registry (CR). The key forms include:

• Form NNC1 (Incorporation Form for a Company Limited by Shares)

• A copy of the company's Articles of Association (AA), which govern the company's internal management.

5. Obtain the Business Registration Certificate

Upon successful incorporation, the CR will issue the Certificate of Incorporation (CI) and automatically process the application for the Business Registration Certificate (BRC). The BRC is issued by the Business Registration Office and is mandatory for all businesses operating in Hong Kong.

6. Open a Corporate Bank Account

Finally, you will need to open a corporate bank account for your new company to handle all financial transactions. This process requires thorough due diligence and may require the director(s) to be physically present in Hong Kong, although some banks offer remote options.

Key Administrative and Financial Considerations

When planning your company registration, keep the following important details in mind:

Item	Detail
Processing Time	The incorporation process can take as little as 1-2 business days if filed electronically, or up to 10 working days via paper submission.
Government Fees	The standard government fees are approximately:
	- Incorporation Fee (CR): HK$1,720 (one-time)
	- Business Registration Fee & Levy (BRC): Approx. HK$2,150 (annual)
Tax Rate	Hong Kong's corporate tax rate is highly competitive: 16.5% for profits exceeding HK$2 million, and a reduced 8.25% for the first HK$2 million in assessable profits.
Legal Compliance	It is crucial to have a clear understanding of the laws and regulations. Consulting with an experienced corporate service provider is highly recommended to ensure your company is fully compliant from day one.

Frequently Asked Questions (FAQs)

Q: What is the main benefit of registering a company in Hong Kong?

A: The main benefits include a strategic location with access to mainland China, a stable and transparent business environment, a low and simple tax system (16.5% corporate tax and no capital gains, VAT, or withholding taxes), and a well-developed legal framework.

Q: How much does it cost to register a company in total?

A: The total cost typically includes the mandatory government fees (approx. HK$3,870) plus any professional fees charged by a corporate service provider for handling the incorporation, acting as the company secretary, and providing a registered address.

Q: Do I need to be a Hong Kong resident to own a company?

A: No. There is no requirement for the director or shareholder to be a Hong Kong resident. However, the company must appoint a company secretary who is either a Hong Kong resident or a corporate body based in Hong Kong.

Why Engage a Professional Corporate Service Provider?

While the process is clear, many international and local entrepreneurs choose to engage a professional firm to manage the incorporation.

A corporate service provider, like Bestar, offers several key advantages:

• Expertise and Compliance: They ensure all documentation is correctly filed, saving you time and preventing costly errors. They guarantee your company is compliant with all Companies Ordinance and Business Registration Ordinance requirements.

• Convenience: They handle all the paperwork, filing, and ongoing compliance requirements (like annual returns and maintenance of statutory records), allowing you to focus entirely on your business operations.

• Statutory Requirements: They can efficiently fulfill the mandatory requirements for a company secretary and a local registered office address.

Ready to launch your business in Hong Kong? Consulting with a corporate services specialist can help you navigate the process efficiently and ensure your company is set up for long-term success.

Why Choose Bestar Hong Kong for Seamless Company Registration

The Essential Guide: How to Register a New Company in Hong Kong

Establishing a new business in Hong Kong is a strategic move, but navigating the legal and administrative complexities can be time-consuming for entrepreneurs. This is where a dedicated and expert corporate service provider like Bestar Hong Kong becomes invaluable.

By leveraging Bestar's comprehensive services, you can ensure your company is fully compliant from day one, minimizing risk and allowing you to focus on core business growth.

Bestar's Full-Service Solution for Hong Kong Company Setup

Bestar offers an integrated suite of services designed to simplify every stage of the company registration and compliance journey, acting as your trusted partner in Hong Kong.

1. Expedited & Expert Company Incorporation

Bestar's team are specialists deeply familiar with the Hong Kong Companies Ordinance and the latest regulatory changes.

• Efficiency: By handling all electronic filing and documentation, Bestar can significantly expedite the incorporation process, often completing it in as little as 1-2 working days.

• Compliance Guarantee: They ensure your chosen company name, Articles of Association, and all statutory forms (like Form NNC1) are correctly prepared and filed with the Companies Registry (CR) and the Business Registration Office (BRO) on the first attempt, preventing costly delays and penalties.

• Choosing the Right Structure: Bestar provides strategic advice on whether a Private Limited Company, Sole Proprietorship, or other structure best fits your business goals and tax strategy.

2. Mandatory Corporate Secretarial & Registered Office Services

Hong Kong law requires every limited company to appoint a Company Secretary and maintain a local registered office address. Bestar fulfills these critical, non-negotiable requirements:

• Appointed Company Secretary: Bestar acts as your official Company Secretary, ensuring ongoing statutory compliance. This includes:

  • Filing the mandatory Annual Return (NAR1) with the CR on time.

  • Maintaining the company's statutory records (e.g., Register of Directors, Register of Members).

  • Managing and maintaining the Significant Controllers Register (SCR), a mandatory record of beneficial ownership.

• Local Registered Address: Bestar provides a compliant Hong Kong office address for receiving all official government mail and notices, essential for maintaining legal standing.

3. Critical Bank Account Opening Assistance

For non-resident directors, opening a corporate bank account in Hong Kong can be the single most challenging hurdle due to strict anti-money laundering regulations. Bestar streamlines this process:

• Pre-Screening & Document Preparation: They help you prepare a robust application package that meets the stringent requirements of traditional Hong Kong banks.

• Liaison and Introductions: Bestar can act as a crucial link between your company and the bank, often facilitating a smoother application process and increasing the chance of approval.

• Alternative Solutions: Bestar can advise on and introduce you to modern fintech and virtual banking alternatives that may offer faster, fully online account opening options.

4. Comprehensive Post-Incorporation Compliance (Holistic Services)

Beyond the initial setup, Bestar offers integrated services crucial for your company's long-term health and growth:

Service Category	Bestar's Key Offering	Value to Your Business
Accounting & Bookkeeping	Handling daily bookkeeping, preparing financial statements, and maintaining accurate records.	Saves administrative time; ensures accurate financial reporting.
Tax Advisory & Filing	Expert guidance on Hong Kong’s territorial tax system; preparation and filing of Profits Tax Returns.	Maximizes tax efficiency and ensures compliance with IRD regulations.
Audit and Assurance	Arranging and facilitating the mandatory annual audit by a Certified Public Accountant (CPA).	Fulfills statutory obligations; builds investor confidence.
Immigration Support	Assistance with Employment Visa (Employment Pass) applications for foreign staff and directors.	Enables essential overseas talent to relocate and work in Hong Kong legally.

Focus on Growth, Leave Compliance to Bestar

By partnering with Bestar Hong Kong, you secure more than just a company registration service—you gain a strategic partner committed to your success in the Asian market.

• Risk Mitigation: Reduce the risk of government penalties, fines, or delayed incorporation due to administrative errors.

• Time Savings: Free up valuable time and resources by outsourcing complex, non-core compliance work.

• Peace of Mind: Operate your business knowing that a professional team is managing all your statutory and regulatory deadlines.

Ready to start your venture in the Asia-Pacific region? Contact Bestar Hong Kong today to transform your business plan into a compliant, operational company with speed and certainty.