Guide to Registering a Non-Profit Company in Hong Kong

Guide to Registering a Non-Profit Company in Hong Kong | Bestar

Hong Kong Non-Profit Registration Guide

Guide to Registering a Non-Profit Company in Hong Kong

Understanding Non-Profit Companies in Hong Kong

In Hong Kong, a non-profit company is typically a company limited by guarantee. Unlike a company limited by shares, it doesn't have shareholders and is used for non-commercial purposes like charities, clubs, or professional associations. The key feature is that members guarantee to contribute a nominal amount (e.g., HK$1) if the company is wound up.

Step-by-Step Guide to Registration 📜

Step 1: Prepare the Necessary Documents

You'll need to prepare several key documents for submission to the Companies Registry (CR).

• Articles of Association (A&A): This is the most crucial document. It must clearly state the company's non-profit objectives and include a clause prohibiting the distribution of profits or assets to its members. The A&A must also specify that any surplus assets upon winding up will be transferred to another non-profit organization.

  
  

• Application Form (Form NNC1G): This form is for the incorporation of a company limited by guarantee. It requires details about the proposed company name, registered office address, and the names of the first directors and company secretary.

  
  

• Consent to Act as Director/Secretary: Each proposed director and the company secretary must sign a consent form.

Step 2: Submit the Application to the Companies Registry

Once the documents are ready, they must be submitted to the Companies Registry. You can do this through their online service, e-Registry, or by mail/in-person at their office.

Step 3: Await Approval and Receive the Certificate of Incorporation

After submitting the application, the CR will review the documents. If everything is in order, they'll issue a Certificate of Incorporation and a Business Registration Certificate. This process usually takes a few business days for online submissions.

Post-Registration Procedures

• Open a Bank Account: You'll need to open a corporate bank account in the company's name. The bank will require the Certificate of Incorporation, Articles of Association, and proof of identity for the directors.

  
  

• Apply for Tax Exemption (Optional but Recommended): To be recognized as a charity and enjoy tax-exempt status, the company must apply to the Inland Revenue Department (IRD). The IRD will assess the company's objectives and activities to determine if it qualifies under Section 88 of the Inland Revenue Ordinance.

Key Considerations ⚠️

• Company Name: The name must be unique and not identical to any existing company name. You can perform a search on the CR's website.

  
  

• Registered Office: The company must have a registered office in Hong Kong. This can't be a P.O. Box.

  
  

• Directors and Secretary: A company limited by guarantee must have at least two directors and a company secretary. The secretary must be a Hong Kong resident or a company with a registered office in Hong Kong.

  
  

• Financial Reporting: Even if tax-exempt, the company must keep proper books of accounts and prepare annual financial statements.

Launching Your Business in Hong Kong? Here's How Bestar Hong Kong Can Help You Succeed

Guide to Registering a Non-Profit Company in Hong Kong

Navigating the complexities of business setup in a new market can be a daunting task. For entrepreneurs and companies looking to establish a presence in Hong Kong, a strategic partner is essential. Bestar Hong Kong provides a comprehensive suite of professional services designed to streamline the entire process, from initial company formation to ongoing compliance and operational support.

Your Partner for Seamless Hong Kong Company Formation

Bestar Hongar Kong acts as your expert guide through the entire company incorporation journey. We handle the intricacies of the process, allowing you to focus on your business vision.

• Expert Guidance and Advice: We provide tailored advice on the most suitable business structure for your specific needs, whether it's a private limited company, sole proprietorship, or partnership. We'll help you understand the implications of each, including liability and tax considerations.

  
  

• Document Preparation and Filing: We take the guesswork out of paperwork. Our team prepares all the necessary incorporation documents, including the Incorporation Form (NNC1), Articles of Association, and the Notice to Business Registration Office (IRBR1), ensuring accuracy and completeness.

  
  

• Fulfilling Mandatory Requirements: Bestar helps you meet all mandatory legal requirements, such as appointing a local company secretary and securing a registered address. We can act as your company secretary, handling all statutory duties, from maintaining official registers to filing annual returns.

Comprehensive Business Solutions for Long-Term Success

Beyond company formation, Bestar Hong Kong offers a wide range of services to support your business's growth and daily operations.

• Corporate Secretarial Services: We ensure your company remains compliant with all local regulations. Our services include maintaining statutory records, organizing meetings, and preparing minutes, giving you peace of mind that all your legal obligations are met.

  
  

• Accounting and Bookkeeping: From managing daily transactions to preparing financial statements, our professional accountants provide meticulous bookkeeping services, allowing you to have a clear and accurate view of your company's financial health.

  
  

• Tax and Financial Advisory: We offer expert tax planning and advisory services to help you navigate Hong Kong's simple and low-tax system. Our team can also assist with audits, due diligence, and financial advisory to help you mitigate risks and capitalize on opportunities.

  
  

• HR and Payroll Outsourcing: Bestar can manage your payroll and HR functions, ensuring your employees are paid on time and in compliance with local labor laws. This frees up your valuable time and resources to concentrate on your core business.

Why Choose Bestar Hong Kong?

• Expertise and Experience: Our team of professionals has extensive experience in accounting, tax, and corporate services, with a deep understanding of the Hong Kong business environment.

  
  

• Streamlined Processes: We simplify complex administrative tasks, saving you time and money. Our efficient services minimize delays and help you avoid costly mistakes.

  
  

• Holistic Support: We provide a comprehensive suite of integrated services, offering a one-stop solution for all your business needs. You can rely on us from the initial setup phase all the way through to ongoing compliance and growth.

For new entrepreneurs and established companies alike, Bestar Hong Kong is a trusted partner committed to helping you establish and grow a successful business in Hong Kong.

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