{"id":35821,"date":"2020-09-17T12:31:46","date_gmt":"2020-09-17T04:31:46","guid":{"rendered":"https:\/\/zegal.com\/?p=35821"},"modified":"2023-03-10T13:45:53","modified_gmt":"2023-03-10T05:45:53","slug":"how-to-start-a-business-in-hong-kong","status":"publish","type":"post","link":"https:\/\/zegal.com\/en-hk\/blog\/post\/how-to-start-a-business-in-hong-kong\/","title":{"rendered":"How to start a business in Hong Kong"},"content":{"rendered":"\r\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-37946\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-1280x865.jpg\" alt=\"How to start a business in Hong Kong\" width=\"1280\" height=\"865\" srcset=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-1280x865.jpg 1280w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-320x216.jpg 320w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-768x519.jpg 768w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-1536x1038.jpg 1536w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-2048x1384.jpg 2048w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-640x433.jpg 640w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-1024x692.jpg 1024w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-1200x811.jpg 1200w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/08\/rikki-chan-B8ZFV4E0YOw-unsplash-1920x1298.jpg 1920w\" sizes=\"auto, (max-width: 639px) 98vw, (max-width: 1199px) 64vw, 770px\" \/><\/figure>\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"font-weight: 400;\">This article covers the main points on how to start a business in Hong Kong. <\/span><\/p>\r\n<p style=\"text-align: center;\"><strong>Read on for details on Hong Kong\u2019s requirements, procedures, and the estimated timeline to register a company.\u00a0<\/strong><\/p>\r\n<p><a href=\"https:\/\/zegal.com\/company-secretary\/\">Zegal: FREE COMPANY INCORPORATION<\/a><\/p>\r\n<h4><b>\u00a0Minimum Setup Requirements to Register a Company in Hong Kong<\/b><\/h4>\r\n<ul>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Designated Representative &#8211; 1<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Individual Director &#8211; 1<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Shareholder &#8211; minimum 1 and maximum 50<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Company Secretary &#8211; 1, must be based in Hong Kong\u00a0<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">No minimum share capital requirement\u00a0<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Have a local Hong Kong registered address for the company<\/span><\/li>\r\n<\/ul>\r\n<h4><b>Registration Timeline\u00a0<\/b><\/h4>\r\n<p><span style=\"font-weight: 400;\">The Hong Kong Companies Ordinance has undergone a recent amendment in 2018 and has since streamlined the process of incorporation in Hong Kong. The entire process to incorporate in Hong Kong will take around <\/span><b>5 to 7 days<\/b><span style=\"font-weight: 400;\"> (subjected to the completion of the required documents).\u00a0<\/span><\/p>\r\n<h4><b>Step 1: Get Companies Registry&#8217;s Approval for Your Company Name<\/b><\/h4>\r\n<p><span style=\"font-weight: 400;\">The Companies Registry is Hong Kong\u2019s official formal organization that oversees the incorporation of companies in Hong Kong. Your application must first be submitted via electronic means or in hard copy before the registration of your company can be approved.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">The very first step is to choose the <\/span><b>type and name of your company<\/b><span style=\"font-weight: 400;\">. In Hong Kong, there are 2 types of companies:<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Company limited by shares<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Company limited by guarantee\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><span style=\"font-weight: 400;\">The name of your company must be in compliance with the <\/span><a href=\"https:\/\/www.cr.gov.hk\/en\/companies_ordinance\/docs\/Guide_RegCompName-e.pdf\"><b>Guideline on Registration of Company Names for Hong Kong Companies<\/b><\/a><span style=\"font-weight: 400;\">. Additionally, the company name must not:<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Appear on Hong Kong\u2019s Cyber Search Centre or Company Search Mobile Service\u00a0<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Infringe the intellectual property rights (IPR) of a third party\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><span style=\"font-weight: 400;\">Next, it is the delivery of the application &#8211; either electronically or in hard copy. Electronically should be done through Hong Kong\u2019s \u201ce-Registry\u201d or \u201cCR eFiling\u201d whilst the hard copy must be submitted to the Shroff on the 14th floor of the Queensway Government Offices.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">The application stage requires <\/span><b>3 sets of documents<\/b><span style=\"font-weight: 400;\">, namely:<\/span><\/p>\r\n<ol>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Incorporation Form (Form NNC1 &#8211; Company limited by shares, Form NNC1G &#8211; Company not limited by shares)<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Copy of the company\u2019s articles of association\u00a0<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Notice to business registration office (IRBR1)<\/span><\/li>\r\n<\/ol>\r\n<p><span style=\"font-weight: 400;\">Approval of the company application will occur <\/span><b>within an hour<\/b><span style=\"font-weight: 400;\"> if it is done electronically while hard copy will be approved within <\/span><b>4 working days<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">To register your company name, visit the<\/span><a href=\"https:\/\/www.cr.gov.hk\/en\/services\/register-company.htm\"><span style=\"font-weight: 400;\"> Companies Registry\u2019s website<\/span><\/a><\/p>\r\n<h4><b>Step 2: Prepare Documents to\u00a0start a business in Hong Kong<\/b><\/h4>\r\n<p><span style=\"font-weight: 400;\">to start a business in Hong Kong you&#8217;ll need to provide:<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An official copy of the Articles of Association for the company\u00a0<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Company name<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The company\u2019s registered address<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A Brief description of the business activities conducted<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The particulars of the shareholders, directors, and company secretary\u00a0<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Liability of company\u2019s members<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Share capital registered upon the incorporation of the company<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The number of shares taken up by subscribers\u00a0<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An official copy of the parent company registration documents (e.g. Certificate of Incorporation and Articles of Association) for corporate shareholders and directors<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Official copies of passport, overseas residential address proof &#8211; for non-resident shareholders and directors<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Official copies of Hong Kong identity card and residential address proof for resident shareholders and directors<\/span><\/li>\r\n<\/ul>\r\n<p><span style=\"font-weight: 400;\">*If the documents are in a language other than English, an officially endorsed translated copy is required.<\/span><\/p>\r\n<p><a href=\"https:\/\/zegal.com\/legalguide\/incorporate-your-business\/\"><span style=\"font-weight: 400;\">Read more: Documents required when incorporating your business<\/span><\/a><\/p>\r\n<h4><b>Step 3: Submit Application to Companies Registry\u00a0<\/b><\/h4>\r\n<p><span style=\"font-weight: 400;\">As mentioned above, the application forms required must be submitted either electronically or in a hard copy to the Queensway Government Offices in Hong Kong.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">The correct <\/span><b>registration fees of HKD$1,720 <\/b><span style=\"font-weight: 400;\">must also be submitted along with the application forms. If the application is unsuccessful, a refund of HKD$1,425 may be made. The registration fee for a 1-year certificate is HKD$250 while a 3-year certificate is HKD$3,950.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">In order to retrieve the registration forms (e.g. Form NNC1\/NNC1G), the charges differ depending on whether it is<a href=\"https:\/\/www.icris.cr.gov.hk\/\"> viewed\/downloaded electronically<\/a> or obtained in hard copy.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">*Onsite: 13th Floor, Public Search Centre, Queensway Government Offices, Hong Kong<\/span><\/p>\r\n<h4><b>Incorporating a non-Hong Kong company?<\/b><\/h4>\r\n<p><span style=\"font-weight: 400;\">A non-Hong Kong company is a company that is incorporated outside of Hong Kong but it has an established place of business in Hong Kong. It is compulsory to apply for registration as a non-Hong Kong company within a month of its establishment as a place of business in Hong Kong.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">Documents required for submission: (either electronically or in hardcopy)<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Form NN1\u00a0<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A certified copy of the instrument defining the company\u2019s constitution (e.g. charter, statutes or memorandum &amp; articles of association)<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A certified copy of the company\u2019s latest published accounts<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A Notice to Business Registration Office (Form IRBR2)<\/span><\/li>\r\n<\/ul>\r\n<p><span style=\"font-weight: 400;\">The approval upon submission of the correct and completed forms along with the registration fees will take approximately <\/span><b>10 working days<\/b><span style=\"font-weight: 400;\">.<\/span><b><br \/>\r\n<br \/>\r\n<\/b><\/p>\r\n<h4><b>After Incorporation<\/b><\/h4>\r\n<p><span style=\"font-weight: 400;\">Once the company has been incorporated, within a month of commencing business, the business must be registered with the Business Registration Office of the Inland Revenue Department. It is compulsory to display the Business Registration Certificate at the place of business.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">Hong Kong allows for a simultaneous application for business registrations together with the application for company incorporations. The additional business registration fee of HKD$2,000 (1-year certificate) or HKD$2,500 (3-year certificate) must be made together with\u00a0 these documents:<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A Notice to Business Registration Office (IRBR1)<\/span><\/li>\r\n\t<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Levy to the Protection of Wages on Insolvency Fund (1-year Certificate, HKD$250 or 3-year Certificate, HKD$750)<\/span><\/li>\r\n<\/ul>\r\n<p><span style=\"font-weight: 400;\">If the simultaneous business registration is done electronically, it would take <\/span><b>an hour<\/b><span style=\"font-weight: 400;\"> or <\/span><b>4 working days<\/b><span style=\"font-weight: 400;\"> for hard copies.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">If it is a separate business registration, it can only be done in hard copy and it would take <\/span><b>30 minutes <\/b><span style=\"font-weight: 400;\">in person or <\/span><b>2 working days <\/b><span style=\"font-weight: 400;\">by post.\u00a0<\/span><\/p>\r\n<h5><b>Accounting<\/b><\/h5>\r\n<p><span style=\"font-weight: 400;\">The Hong Kong Institute of Certified Public Accountants (HKICPA) issues official standards relating to accounting and auditing practices. The Hong Kong law requires all Hong Kong-incorporated companies to prepare audited financial statements. All private companies must keep and maintain proper books of account. Companies must also file annual returns specifying directors, members, and the location of a registered office.\u00a0<\/span><\/p>\r\n<h5><b>Annual General Meeting<\/b><\/h5>\r\n<p><span style=\"font-weight: 400;\">All companies must convene their annual general meeting in respect of each financial year of the company, as opposed to every calendar year.\u00a0<\/span><\/p>\r\n<h5><b>Annual filing<\/b><\/h5>\r\n<p><span style=\"font-weight: 400;\">All Hong Kong-based companies are required to meet annual filing requirements with the Inland Revenue Department (IRD) and Companies Registry, once every calendar year.<\/span><\/p>\r\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\r\n<p style=\"text-align: center;\"><b><i>This article does not constitute legal advice.<\/i><\/b><\/p>\r\n<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">The opinions expressed in the column above represent the author\u2019s own.<\/span><\/i><\/p>\r\n<p style=\"text-align: center;\"><a href=\"https:\/\/register.zegal.com\/\"><b>Start managing your legal needs with Zegal today<\/b><\/a><\/p>\r\n<p>MORE IN THIS SERIES: Company Incorporation: <a href=\"https:\/\/zegal.com\/blog\/post\/how-to-start-a-business-in-hong-kong\/\">Hong Kong<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-singapore\/\">Singapore<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-japan\">Japan<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-new-zealand\/\">New Zealand<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-australia\/\">Australia<\/a>,<a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-taiwan\/\">Taiwan, <\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-step-by-step-macau\/\">Macau<\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-singapore\/\">, <\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-china\/\">China<\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-singapore\/\">, <\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-philippines\/\">Philippines<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/incorporation-british-virgin-islands\/\">BVI<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-step-by-step-vietnam\/\">Vietnam<\/a>,<a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-thailand\">Thailand<\/a>,<a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-step-by-step-indonesia\/\">\u00a0Indonesia<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-step-by-step-cayman-islands\/\">Cayman Islands<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-united-kingdom\">United Kingdom<\/a><\/p>\r\n<p><a href=\"https:\/\/zegal.com\/legalguide\/incorporate-your-business\/\"><span style=\"font-weight: 400;\">READ MORE: Documents required when incorporating your business<\/span><\/a><\/p>\r\n<p><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-hong-kong\/\">READ MORE: Company Incorporation Hong Kong: Foreigner&#8217;s Essential Guide<\/a><\/p>\r\n<p><strong>Follow us on<\/strong> <a href=\"https:\/\/www.facebook.com\/getzegal\">Facebook<\/a>, <a href=\"https:\/\/www.linkedin.com\/company\/getzegal\/\">Linkedin<\/a> &amp; <a href=\"https:\/\/twitter.com\/getzegal\">Twitter<\/a><\/p>\r\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":96,"featured_media":37940,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","inline_featured_image":false,"footnotes":""},"categories":[14278,14281],"tags":[25,26,30,10307],"usecases":[13715,13716,13717],"businesstypes":[],"country":[13736],"class_list":["post-35821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-management","category-legal","tag-company-incorporation","tag-company-secretarial","tag-hong-kong","tag-z-syndicate","usecases-set-up-a-founders-agreement","usecases-set-up-a-shareholders-agreement","usecases-set-up-your-board-of-directors","country-hong-kong"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to start a business in Hong Kong | Detailed Guide | Zegal Hong Kong<\/title>\n<meta name=\"description\" content=\"There are plenty of reasons to choose to register your business in Hong Kong. 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