How To Set Up a Limited Liability Company in Hong Kong
Here's a breakdown of the process for setting up a Limited Liability Company (LLC) in Hong Kong:
1. Choose a Company Name
Pick a unique and available company name that complies with Hong Kong's naming regulations. You can do a preliminary name check through the Companies Registry's online portal.
2. Appoint Directors and Shareholders
You need at least one director and one shareholder for your LLC. There's a maximum of 50 shareholders, and residency restrictions don't apply.
3. Prepare Necessary Documents
Articles of Association: This document outlines the company's internal rules and governance.
Incorporation Form: This form captures essential details about your company.
Business Registration Notice: This notifies the Business Registration Office of your company formation.
Share Capital Information: Specify the company's total share capital and individual shareholder details.
Translated Documents: If any documents are not in English, have them officially translated.
4. Register Your Business
You can register your LLC online via the e-Registry or by submitting a paper application.
The Companies Registry will review your application and issue a Certificate of Incorporation upon approval.
5. Obtain Business Registration Certificate
Register with the Inland Revenue Department to get a Business Registration Certificate. This allows you to operate your business and comply with tax regulations.
Additional Considerations:
Registered Office: Maintain a registered office address in Hong Kong to receive official communications.
Business Bank Account: Open a corporate bank account to manage your company's finances.
Professional Services: Consider using a service provider to assist with the incorporation process, ensuring adherence to regulations.
Fees Associated with LLC Formation Services
The fees associated with LLC formation services in Hong Kong can vary depending on the specific services offered by the provider and the complexity of your situation. Here's a breakdown of the cost factors:
Government Fees:
These are fixed costs set by the Hong Kong government and include:
Incorporation Fee: Around HK$1,545 - HK$1,720 (depending on filing method)
Business Registration Fee and Levy: Around HK$2,150 (subject to change)
Annual Return Filing Fee: HK$105 (if filed within the deadline)
Formation Service Fees:
These fees cover the service provider's assistance with the incorporation process. They can range from HK$8,500 to HK$30,000 or even more, depending on the provider's experience and the services included. Here are some typical inclusions:
Name availability check
Drafting and filing incorporation documents
Assistance with registered office address (if needed)
Liaison with the Companies Registry
Company seal and other necessary items
Initial guidance on business registration and tax matters
Additional Services:
Some formation agents may offer additional services for separate fees, such as:
Opening a corporate bank account
Appointing a company secretary (required for some companies)
Legal consultations
Assistance with tax registration and accounting
Here are some resources to help you estimate the cost:
Companies Registry - Major Fees under the Companies Ordinance
[Cost to Set Up and Run a Hong Kong Company (2024 Updated)]
[Hong Kong Company Incorporation Fees and Incorporation Packages]
Remember, this is a general overview. It's advisable to research further based on your specific circumstances. For in-depth guidance, consider consulting a lawyer or a professional firm specializing in Hong Kong company formations.
How Bestar HK can Help
Bestar HK can likely assist you in setting up a Limited Liability Company (LLC) in Hong Kong in several ways:
1. Streamlining the Incorporation Process:
We can help gather and prepare the necessary documents like Articles of Association, Incorporation Form, and Business Registration Notice.
We can ensure the documents comply with Hong Kong regulations and expedite the registration process.
2. Expertise in Regulations:
Bestar HK professionals are familiar with the intricacies of Hong Kong company formation regulations.
We can guide you through legalities like director and shareholder requirements and registered office address.
3. Business Registration and Tax Guidance:
We can assist with registering your LLC with the Inland Revenue Department to obtain a Business Registration Certificate.
We can advise you on tax obligations and filing requirements for your LLC in Hong Kong.
4. Additional Services:
Bestar HK offers additional services like opening a corporate bank account or recommending lawyers for complex legal matters.
By leveraging Bestar HK's expertise, you can:
Save time and effort navigating the intricacies of company formation.
Minimize the risk of errors or delays in the registration process.
Gain valuable insights into ongoing tax and accounting obligations for your LLC.
By consulting with Bestar HK, you can determine if their services align with your needs for setting up your LLC in Hong Kong.