To grow and expand their market share globally, If you are in Hong Kong, you would have noticed that there are quite a number of these firms who are available and all of them claim to be the best when it comes to company formation in Hong Kong. However, you should know that not all of them offer you the same benefits. Here are some of the benefits of Hong Kong company formation that you should know if you plan to set up an office in the Chinese capital.
Hong Kong company setup service is relatively easy to do if you opt for it for the first time. With the help of a qualified consultant, you can fill up the application form and submit it to the Companies Registry. From here, you will have to wait for a couple of business days while the document will be checked and processed. Once this is done, you can get yourself your company registration number (usually called PTR), a letter of appointment from the Companies Registry as well as your business permit.
When you have all these things in order, you can move on to the next step, getting an independent license for your company. It is referred to as the business license, and you will find that there are different requirements for different types of businesses. You will have to ensure that you provide all the necessary information to the relevant authorities to approve your application. During your Hong Kong company setup service or incorporation, you will have to take note of the following stipulation set by the rules:
The Company Registration. It is an essential part of the entire Hong Kong company setup service. Without this, you cannot open any offices or have any dealings with other companies. You are not even allowed to handle cash directly. Therefore, make sure you pay attention to this critical stipulation before proceeding with the application.
Business License. Companies set up in Hong Kong must obtain their business license following the Chinese Government’s regulations. You will have to submit all the information regarding your previous place of residence, contact details, your name as a company secretary, and of course the identification number of your mainland China company.
Administrative Location. Your office or company headquarters is where you conduct all business affairs. It is also where you hire a company secretary and accountant. Thus, make sure you select a location that is easy to access by your employees. The administrative area should be accessible from the road so that your employees can go in and out of it quickly.
Company Formation Requirements. If you wish to open a business in Hong Kong, you will have to comply with all the rules and regulations for company registration in Hong Kong. You will need the following to start your business: a business license, an application form for the Business Registration of Hong Kong (formally called the Schedule of Formalities), the Articles of Association for a company, and the trade register commerce. In addition to these, you will need to present a business proposition to the Registrar of Companies.
Hong Kong Company Formation Service provides you with all these benefits. In addition to that, they will even help you handle your paperwork, provide you with a valuable list of contacts, a useful list of testimonials, and even provide you with a free business book on how to run your business successfully. Thus, the advantages of using a Hong Kong company formation service are many, which is why more people are choosing them to set up their businesses. However, it is essential to note that not all company formation services are of good quality. Some companies will only offer you a basic package, which leaves you with practically no benefits whatsoever.