Company Formation in Hong Kong – A Brief Introduction to the Corporate Formations Process

If you wish to open a business in Hong Kong, it is wise to get a professional company registration service. Hong Kong has become one of the cosmopolitan commercial centres in the world. Companies and individuals from around the world register business in Hong Kong for several reasons. The central government in China has made many changes to set up small and medium-sized enterprises in China. Consequently, companies and individuals that wish to open a business in China now need to register their business under the new laws.

Hong Kong company registration service main aim is to get unique economic benefits and avoid excess taxation. Among the many beneficial aspects of business registration in Hong Kong are the Managing Director (or CEO) appointment and the Board of Directors’ appointment by the statutory office. This appointment is carried out by the Secretary to the State of Hong Kong. The statutory office exercises power to approve or refuse to support the Managing Director and the Board of Directors. The Company Acts contain provisions for the Management and Board of Directors’ review by the Annual General Meeting of the Company and the holding of Annual Meetings of the Management and the Board of Directors.

Another primary reason for registering a business in Hong Kong through a service provider is the ability to benefit from reduced corporate tax. Hong Kong has one of the lowest tax rates globally and some of its most favourable tax rates. Consequently, any company that wishes to register in Hong Kong and take advantage of its low tax rate must do so through a qualified service provider. Such a provider would arrange the necessary paperwork, provide the required certifications, and get the lowest corporate tax rate.

A significant reason why many companies choose to register in Hong Kong rather than any other place is that it is a well-developed region. Hong Kong company registration service enjoys an exceedingly high standard of living, excellent transportation facilities, low crime rate, low unemployment, and a strong economy. The economic growth in China is also remarkably high, and the two complement each other. Chinese people are amicable and hospitable, and they like to do business with foreigners. In recent years, there has been a dramatic increase in the number of expatriates coming to Hong Kong to take advantage of the fantastic business opportunities available. Many Chinese companies have established manufacturing units in Hong Kong, and expatriates can take advantage of the low cost of living in the region to invest in the business that they are interested in it.

Many entrepreneurs often wonder how they should go about finding a qualified registration agent. The first thing you need to do is look up the name of a reliable company registration service in your country. Then you should compare the services offered by each firm. There is one company that offers all the services that you require plus more. You also need to check out the registration agent’s profile to see whether they are honest and trustworthy. If you are new to the area, this is especially important.

Once you have found a registration agent, you should schedule an appointment with him or her. You need to discuss your project thoroughly with the registration agent before he or she starts to answer your questions. Since most people coming to Hong Kong are not aware of the procedures required to start a business there, a right registration agent will explain everything to them in a detailed manner.

Most of the time, companies that register in Hong Kong offer various benefits such as tax benefits, low fees, and convenience. However, there are still many other benefits that you can enjoy if you register a company. A right registration agent will tell you about these benefits and even show you some before-mentioned examples so that you know what to expect.