Hong Kong Company Registry And Management 101
Hong Kong company registry is something that we get asked about on a daily basis, and even though it's comparatively easier to set up than a traditional China WFOE or a Representative office in China, there are still lots of questions that we find are repeated when we have meetings with new clients that we'd like to bring to light!
In part 1 of this two part blog (Read part 2 of these Hong Kong company registry FAQs here) we will take a look at answering questions in different areas surrounding the registration and management of a Hong Kong company:
Let's get started!
Tell Me More About Starting A Business In Hong Kong
Q1) What are the requirements for registering a limited company in Hong Kong?
Registering a limited Company in Hong Kong requires that at least one Chinese resident holding an ID card or a foreign national holding a passport that is 18 or above to act as shareholder and director.
Q2) How long does it usually take to register a Hong Kong Company?
It usually takes 2 weeks (10 working days)
Q3) Does the business scope have to be filled in on the Business Registration Certificate?
It is not mandatory to fill it in. Investors may choose to leave this blank
Q4) How can one check if the registered company is a lawful entity?
Investors can consult the Companies Registry to search for their own business licence information. These records can be checked 16 working days after the date of registration
Hong Kong Company Deregistration
Q1) Is it possible to deregister a Hong Kong company?
It is possible as long as the following conditions are met:
- Mutual consent of deregistration is reached by all shareholders;
- No running or operating any business of the company, or stopping operations for more than 3 months before applying for deregistration;
- No unpaid debts, including government charges and taxes; and
- Notice of No Objection issued by the Commissioner of Inland Revenue obtained.
Q2) How long does it usually take to apply for Hong Kong Company deregistration?
It usually takes about 6 months to apply
Q3) What documents are required to apply for Hong Kong company deregistration?
- Certificate of incorporation;
- Business Registration Certificate;
- Latest Annual Return; and
- Latest financial statements.
Naming Your Hong Kong Company
Q1) Can a registered company change its name?
Q2) Is it possible to register a company name in only Chinese or English?
Yes, but no bilingual name is allowed
Q3) Are there any restrictions in naming the company?
Company names cannot contain the word "Bank" or "Insurance" as well as words which may mislead people to believe it has any relation with the Government
That's it for the first part of our extended FAQ concerning Hong Kong company registry and management.
If you have any other questions regarding these specific areas of Hong Kong company setup, please feel free to ask us in the comments sections below.