Start an offshore company in Hong Kong

Requirements to open a company

An open Hong Kong offshore company must supplement at least one director, but their number can be unlimited. They are not required to be Hong Kong residents.

A minimum of one shareholder and a maximum of fifty are required. Shareholders can be natural persons or companies.

The company incorporated in Hong Kong must also appoint a local resident natural or legal person to act as company secretary.

Procedure to start your business in Hong Kong

Foreign investors have two options for incorporating an offshore company in Hong Kong. They can register a new company or buy an already registered one.

Companies that are only registered but have no liabilities or assets are called dormant companies and can be bought by investors who do not have time to wait for a new company to be incorporated. After buying it, investors can invest directors and secretary of the company, increase the share capital, and change the name and registered address.

Investors wishing to register a new business need to know some facts. First, the desired company name must be verified at the Companies Registry. If it is not a duplicate or very similar to another, it can be reserved.

After that, the following documents must be submitted to the Registry:

• the registration application form,

• the Deed of Incorporation and the Articles of Incorporation,

• the copy of the passport of the founders,

• bank reference letter for non-resident shareholders or directors,

• copy of Hong Kong ID for Hong Kong resident shareholders or directors and copy of parent company registration

• documents (for corporate shareholders only).

After 14 days from registration, the incorporated offshore company must also deposit the following documents:

• notification about the registered address,

• the decision to appoint the director(s) and the secretary and their consent to act in that position

• Other documents requested by the Mercantile Registry Office, depending on the nature of the business.

A bank account must be opened and within one month from registration, the company must register with the Internal Revenue Department.

Special requirements to operate a business

Operating a business enterprise, retail store, travel agency, restaurant, employment agency, education business, financial service agency, event management agency are activities that require receiving a license, so It is important to request it from the competent authorities. The type and number of permits and licenses required vary greatly from business to business. We recommend seeking the help of a qualified Hong Kong lawyer or business consultant for professional advice, which will certainly help you to be sure that you will start your business correctly and within the legal framework of this city-state.

Only if the above steps are completed can foreign investors start operating business and enjoy the benefits of having an offshore company open in Hong Kong.