6 Essentials For Setting Up a Business in Hong Kong

Due to free port and the importance of this city, a lot of foreign businessmen go for opening their own business offices or companies in Hong Kong. Are you thinking about it too? I am here to support you in this regard. For

starting a business or establishing a company anywhere across the world, you need to have sound knowledge about it. Go through the content to know the essentials of company establishment in Hong Kong.

Business registration

In the process of setting up a business in Hong Kong, you need to register your company here. Registering a business here is quite simple, easy and fast. You can get your company registered within a day by fulfilling a few requirements. For your business registration, you need the followings:

• One director

• One shareholder • One company secretary residing in Hong Kong • Office address

• Filing the profits tax and employer's returns annually • Audited accounts on an annual basis

• Government filings of registered directors and shareholders are open to the public • A copy of Articles of Associations • And allied others

Business address

You should have a proper office address for your business here. For office address, you need to hire a space on rent or purchase an office. Get a lease or purchase agreement for it and submit a copy of electricity bill,

rent/purchase agreement, etc as a proof of your office address.

Bank account

For setting up a business in Hong Kong, you need to have a company account. You can open it in the HSBC,

which holds a monopoly in personal as well as business banking. By depositing the requisite amount along with a copy of your business address, you can easily open your business account here.

Visa

For opening and running your business in Hong Kong, you need to attain a Visa of this country. For this, you need to be above 18 years, a copy of passport, a copy of detailed business plan, a copy of business registration,

two passport size photographs, proof of educational qualifications along with professional experience, etc. Communication

In order to run your business, you need to have a proper communication setup. You can avail landlines and

mobile phones along with hiring an Internet service provider to make your communication easier. Networking

For running your company after its establishment, you need to establish a network so that you can spread your

business here. In Hong Kong, there are several networking events. Attending such events will help you to meet business owners, entrepreneurs and executives.

I hope that you will be able to set up and run your business in Hong Kong after fulfilling all the above mentioned essentials.

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