Registering a Hong Kong Company is Simple & Fast
To start a business in Hong Kong, first and foremost, you must open a Hong Kong-registered limited company. One Success delicately helps you handle all the tedious procedures, including company and business registration, secretarial services, opening a bank account, making a company seal, etc. All these will be done efficiently and orderly, allowing you to save valuable time and energy to focus on your entrepreneurship.
Benefits of setting up a Hong Kong Company
through One Success
One Success concentrates on helping dreamers kickstart their businesses. Our team has worked side by side with thousands of local SMEs and start-ups. We provide customized company registration and other services that fit you the best.
No hidden charges forever.
The average time to open a company is less than one week.
We provide a cloud accounting management service that helps companies complete the digitalization of management.
We provide face-to-face or video consultations to meet the needs of customers. Our service process can be 100% online, depending on your needs.
We have the knowledge and experience across multiple industries.
We provide a one-stop solution to meet the needs of SMEs
Steps of Setting up a Hong Kong Limited Company
One Success provides a one-stop service that helps customers handle all the cumbersome procedures of starting a company. We value transparent relationships with our customers and always intimately explain everything SME owners need to know when setting up a company so that you can make a good start easily.
Step 1：Decide your company name
If the company name you have filed has already been used or is too similar to an existing company, the Companies Registry may oppose it.
Step 2：Submit application documents and fees
Complete and submit the incorporation form (NNC1 or NNC1G), Memorandum and Articles of Association, and the Notice to Business Registration Office (IRBR1 form) to the Companies Registry through electronic or hard copy. Pay the business registration fee and company registration cost at the same time.
Step 3：Get your Certificate of Incorporation (CI）
Once the application is accepted, the Companies Registry usually can issue the “Certificate of Incorporation” and a “Business Registration Certificate” within a few working days. If you open a company through One Success, you can also receive a “green box”, which includes the company’s articles, seal, chops, stock book and the company record book, etc.
Step 4：Open a Bank Account
After completing the business registration and company registration procedures, you can now open a bank account. During the application, banks may require the applicants to provide supporting documentation such as business certification and source of funds. Our professional team will assist you all along the process to ensure a quick and smooth experience.
Limited Company VS Unlimited Company:
What are the differences?
A limited company and an unlimited company have different legal status, debts and tax liabilities. The main differences include:
A limited company is a legal entity with independent legal status that can sign contracts with other individuals or organizations, borrow money in the company’s name, and perform related obligations and responsibilities. A limited company must appoint a Certified Public Accountant (CPA) to audit every year and then submit an annual return and pay profit taxes to the Inland Revenue Department (IRD).
An unlimited company has no independent legal status. It operates in the name of an individual or a partnership, and the owner is responsible for its debts. It does not need to submit an audit report every year.
FAQs About Hong Kong Company Registration
Get Ready to establish a Hong Kong company?
Should I apply for a limited company or an unlimited company?
A limited company provides shareholders with more comprehensive legal and debt protection. Once a limited company is insolvent and liquidated, the shareholders generally do not have to be liable for debts. Their private property will not be affected. By contrast, the owner of an unlimited company has to use personal assets to pay off the debts if the company is in the same financial dilemma.
What is a "company green box" and what does it include?
After opening a Hong Kong company through One Success, we will provide you a “green box”, which is a customized welcome package consisting of useful items according to clients” needs and requests:
- The company’s Articles of Association: it’s a document specifying the nature of its business, founders, registered capital, the scope of powers of the directors, etc., which are necessary official documents for any limited companies.
- A company stock book: a company issues it to its shareholders to certify the number of shares they hold.
- A company record book: it records the company’s vital information, including the company names, addresses, appointment dates, and the information of the directors, shareholders, secretaries and significant controllers.
- The company seal, round stamp and signature stamp: The company seal is generally used for critical contracts such as buying and selling properties, stocks and going public. The person-in-charge of a company is usually responsible for keeping the seal.Meanwhile, staff commonly use the round stamp in daily operation, such as signing general contracts and quotations. Staffs also use the signature stamp to stamp a valid authorized person’s signature to make a contract valid. A signature stamp is often used to open bank accounts, sign contracts, issue checks and remittance orders, etc.
When deciding a company's name, is there any regulations business founders have to follow?
The Companies Registry accepts company names registered in English or Chinese in traditional characters but not a mixture of both. The application will not be accepted if a name has already taken by an existing company. Using specific words such as “trust” and “chamber of commerce” has to be screened and approved by the Registrar of Companies.
What are the fees to be paid to the Hong Kong government when starting a company?
To establish a limited company in Hong Kong, you have to pay the company registration fees and business registration fees to the Hong Kong government. There are two types of business registration fees, respectively, the one-year certificate and three-year certificate.
Why is the business registration fee not the same every year?
According to the local economic situation and business environment, the Hong Kong government sometimes reduces or exempts business registration fees. This beneficial policy is usually announced during the financial budget.
What are the differences between a company limited by shares and a company limited by guarantee?
Most companies in Hong Kong are companies limited by shares. The legal liability of company members is based on the Articles of Association and limited to each member’s unpaid amount of shares. A company limited by guarantee does not have a share capital, and the legal liability of company members laid on the Articles of Association and limited to the amount each member promises to pay as the company’s assets when the company is liquidated. If you have any questions about the type of company to be established, please feel free to contact One Success.
What are the differences between the NNC1 form and the NNC1G form?
In general, form NNC1 is for use by limited liability companies in which most Hong Kong companies use this form when establishing. Form NNC1G is for non-corporate limited companies. Some common examples include unlimited companies, companies limited by guarantee with no share capital, and non-profit organizations.
What is the minimum number of shareholders and directors in a limited company?
Every limited company must have at least one shareholder and one director, and shareholders can also serve as directors.
When a Hong Kong person start a business, should he/she set up a Hong Kong company or an offshore company?
The profits generated from business operating in Hong Kong are subject to Hong Kong profits tax. Therefore, local SME owners generally choose to set up a Hong Kong company. Some Hong Kong people choose to open an overseas or offshore company out of privacy and tax concern or simply because their businesses do not have anything related to Hong Kong. Popular offshore company locations include the British Virgin Islands (BVI), Bermuda, Cayman Islands, etc. If you have any questions about the type of company to be established, please feel free to contact One Success.
Can Mainland Chinese citizens or foreigners set up a Hong Kong limited company?
Yes, the ideal business conditions in Hong Kong attracts entrepreneur from Mainland China and overseas. Interested parties are welcome to contact One Success to learn about the easiest and fastest way to start a Hong Kong company.
What are the advantages of non-Hong Kong citizens registering a company in this city?
Hong Kong’s business environment advantages include a low tax rate, relatively simple taxation system, no foreign exchange control, convenient inflow and outflow and legal protection for enterprises. Besides, Hong Kong is a well-known international city where many overseas companies or individuals start businesses or establish branches in Hong Kong to seize business opportunities.