Hong Kong corporation is one of the most popular types of business registration that could ever be taken advantage of by anyone. Company formation in Hong Kong gives many benefits, the very few being that it has the most streamlined administrative system on earth today. Furthermore, it also has some of the lowest taxes that are required in any European nation.
Any person or group who wants to establish a Hong Kong corporation registration needs first to decide the type of business they wish to create and choose a name. After that, they need to look for a suitable place to conduct their business and pick a plan of action. The best way to pick action plans to pick one that is closely connected to the products or services that you will offer to customers in the future. For example, if you are creating a website for a clothes manufacturing company in the future, your site name should mention the brand name or its main ingredient. It should also incorporate the primary purpose of opening the store in the customer’s mind.
After making these decisions, you can now go about the actual process of company registration in Hong Kong. The next step after choosing the name of your new company is to register it at the Companies Registry. However, before the Companies Registry can do anything, you must submit all the information that you will need. These include the full names and addresses of all shareholders, the nature of your business, the number of employees that you would require, the purpose of your formation, and more.
The next important document that you need to submit for company registration in Hong Kong is the application for the establishment. This application for company registration must be accompanied by the statutory fees that are fixed by the law. You can get this fee waived by going through the prescribed channels. The law requires you to pay the registration fees within 28 days of your application.
The third document that you need to submit for company registration in Hong Kong is the signed contract. This contract will be signed by you and the company that you are establishing. This contract will indicate the type of shares that will be provided for the company and will also state that it is an open corporation.
After this, there will be a voting procedure wherein the shareholders will determine whether they support the company and will ratify the contract that was stated in the application form. The shareholders can also determine whether they reject the company’s proposal or agree to it. The shareholders can also decide whether to accept the funding that was put forward in the deal. There are two options that they can choose from here. They can either accept the share funding or reject the offer. If the latter happens, then the company will need to seek approval from the civil registry office before it can continue with the process.
In case they do not, there will be a possible investigation and review conducted by the Office of the Secretary of State. The review will then determine whether the course of participants of the transaction violated the prescribed laws in Hong Kong. Upon the receipt of the report, the applicable authorities in Hong Kong will become the directors and the officers involved in the transaction will be arrested.