<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=780236292101201&amp;ev=PageView&amp;noscript=1">
Blog Extended FAQ On Hong Kong Company Registry & Management (Part 2)

Subscribe to the Blog

By checking the box below you consent to receive marketing communications from Hongda. Your data will be stored securely and not shared with third-parties. If you would like to manage your subscriptions please do so in the email that will follow.

Extended FAQ On Hong Kong Company Registry & Management (Part 2)

by Bobby Lee | 30 December 2015

Extended_FAQ_concerning_Hong_Kong_company_registration.jpgLet's Talk About Hong Kong Company Registry & Management

A few weeks ago we brought you part one of the extended FAQ on setting up and running an Hong Kong company.

Last time we took a look at some questions in the areas surrounding Hong Kong company registry, namely registration, deregistration and naming of a Hong Kong company.

This time around we are going to be answering some questions with regards to:

  • Directors, Shareholders and the Company Secretary
  • Registered capital
  • Banking

So read on to get answers to some of the more involved questions regarding Hong Kong company registry and management...

Hong Kong company directors, shareholders and the company secretary

hong kong company registry faqs

Q1) Can the Shareholder and Director be the same person?

Yes

Q2) Can a limited company act as the shareholder or director of another limited company?

Yes

Q:Can a limited company act as the shareholder or director of another limited company?A:Yes.- See more at: http://www.conpak.com/FAQs-of-Hong-Kong-Company-Incorporation.html#sthash.HjLEF7PH.dpuf

Q3) What is the least amount of shareholders and directors that a limited company is permitted to have?

At least one shareholder and director, which can also be the same one person.

Q4) What are the duties of the company secretary?

This person is in charge of managing and tracking of administrative functions such as arranging meetings, opening bank accounts, and presenting statutory documents to governmental department in order to ensure the company meets statutory requirements.

Q5) Who may act as Company Secretary?

Hong Kong residents over the age of 18 or above/Limited Company registered in Hong Kong are eligible to fill the role of Company Secretary.

>> Is Hong Kong company registry necessary for doing business in China? Find out here! <<

 

Hong Kong company registered capital

Q1) What does the registered capital represent?

  • The company's maximum financing capacity
  • Shareholders' maximum liability

Q2) Does one have to pay an additional fee to increase the amount of registered capital?

Increasing the initial amount of registered capital (minimum of HKD10,000) will incur  no additional governmental fees

>> Read a head to head comparison of Hong Kong VS Singapore companies here! <<

 

Hong Kong company bank account

Q1) What documents are needed in opening bank account?

  • Certificate of Incorporation (copy certified by accountant)
  • Business Registration Certificate (copy certified by accountant)
  • Notice of appointment of director and secretary (copy certified by accountant)
  • Articles of Association (copy certified by accountant)
  • ID card/passport of each director
  • Proof of personal address of each director

Q2) Are there any limitations for cash withdrawal, remittance and foreign currency exchange from a Hong Kong bank?

Capital is free to come and go in Hong Kong and is freely circulated without limitation

Q3) How long after the company has been registered and the bank account opened can it be used?

Being that opening a bank account is a prerequisite for opening a Hong Kong company, it usually takes about 2 weeks

 

That brings us to the second part of our extended FAQ concerning Hong Kong company registration and management.

PS. Don't forget to read part 1 of these FAQs here.

If YOU have any other questions regarding these specific areas of Hong Kong company registry and running, please feel free to ask us in the comments sections below.


 

MOF - The Foreign Company’s  Guide To Starting A Business  In Hong Kong eBook - LP

Q:What is the difference and relation between registered capital and issue of shares?A:Registered capital shall be registered with Government first while issue of shares shall be made after capital is registered, so the amount of issue of shares shall not exceed that of the registered capital. Shareholders shall fully pay the issue of shares on proportion of shareholding instead of registered capital. The future obligation to be incurred by the company shall be calculated on the basis of issue of shares.- See more at: http://www.conpak.com/FAQs-of-Hong-Kong-Company-Incorporation.html#sthash.Iz5kbNWb.dpuf
Q:Are there any restrictions applied to the Company’s expansion on other business if the scope of business is specified on the Business Registration Certification?A:The scope of business specified in the Business Registration Certification generally indicates the core business of the Company and no restriction applies to the scope of business nor the Company’s expansion on other business.- See more at: http://www.conpak.com/FAQs-of-Hong-Kong-Company-Incorporation.html#sthash.Iz5kbNWb.dpuf
What are the requirements for incorporating a limited company in Hong Kong?A:Incorporating a Hong Kong limited Company requires at least one Chinese resident or overseas person holding passport or ID card aged 18 or above acting as shareholder and director. In additional, a Hong Kong address must be provided as a registered address and a Hong Kong resident or professional company must be act as the statutory secretary of the Company.- See more at: http://www.conpak.com/FAQs-of-Hong-Kong-Company-Incorporation.html#sthash.Iz5kbNWb.dp

Topics: Doing Business in Hong Kong

Bobby Lee

Bobby Lee

Helping make China companies easy since 2007 as a Senior Consultant

Comment: