Hong Kong Frequently Asked Questions

1) Incorporation of Hong Kong Limited Company – General FAQ

• Who can form a Hong Kong company?

• Can I form a company with just one person?

• Do I have to have a local secretary?

• What is a company and how is it structured?

• What are the minimum statutory requirements for forming a company in Hong Kong?

• Do I have to have a physical address for my business in Hong Kong?

• Do I have to have a bank account in Hong Kong?

• You don’t need a Hong Kong bank account and you also don’t need to operate your business in Hong Kong. We work for many international clients who are using Hong Kong corporations to do business in other countries. You are free to do business and open a bank account in other states or countries of your choice. Startupr can help you bring your business to other countries as well. Can I conduct business in other countries?

• What are the rules for company names?

2)   Startupr service FAQ

• How long does the Hong Kong company formation procedure take?

• How much does it cost and what do I receive?

• Do I need to be present in Hong Kong during the company incorporation process?

• What documents do I need to send in order to incorporate a Hong Kong company? Do I need to sign anything?

• Where can I find out about the entire incorporation procedure from start to finish?

• What do I receive when all incorporation is complete?

• How do I form and register a local limited company in Hong Kong?

• How long does it take to open a corporate bank account in Hong Kong?

• What currency can I use as share capital of a Hong Kong Company?

• Do I (as a foreigner) need to have a Hong Kong partner to incorporate a company?

• Are Corporate Directors permitted?

• Can I change the company name once I register the company?

• How can I deregister, strike off and wind up a Hong Kong company?

1) Incorporation of Hong Kong Limited Company – General FAQ

• • Who can form a Hong Kong company?
  • Anybody can form a Hong Kong company.  However, a Hong Kong company must have at least one director, one secretary, and a physical location. Startupr will provide a registered office address and secretarial services so that you can serve as the director of the company. Back to questions

• • Can I form a company with just one person?
  • Yes, the minimum is one shareholder/director. Your company must have a director and a secretary (secretary must be either a Hong Kong resident or local incorporated company). The director also serves as a member of the company. Back to questions

• • Do I have to have a local secretary?
  • Yes, but this is not the type of secretary who does clerical or secretarial work. Hong Kong incorporation requires you designate a corporate secretary who audits the company to ensure legal and regulatory compliance and represents the company for their legal documents. Startupr is ready to function as your corporate secretary if you cannot provide your own. Back to questions

• • What is a company and how is it structured?
  • A company is a legal entity made of up directors, secretaries, and shareholders (members). The director is responsible for the day to day running of the company. The secretary is responsible for general government duties such as making sure returns are filed on time, notifying when addresses change, etc. The shareholder owns the company through holding shares. Back to questions

• • What are the minimum statutory requirements for forming a company in Hong Kong?
  • A minimum of one shareholder or director. They do NOT have to be a citizen of Hong Kong and they can be the same person. A minimum issued/paid-up capital of one share worth 1 HKD.  The general norm is usually 1,000 HKD. Back to questions

• • Do I have to have a physical address for my business in Hong Kong?
  • Yes, you need to have a local registered address (P.O. Box not allowed). You can use Startupr’s registered address if you do not have one yourself.  Back to questions

• • Do I have to have a bank account in Hong Kong?
  • You don’t need a Hong Kong bank account and you also don’t need to operate your business in Hong Kong. We work for many international clients who are using Hong Kong corporations to do business in other countries. You are free to do business and open a bank account in other states or countries of your choice. Startupr can help you bring your business to other countries as well. Can I conduct business in other countries?
  • Yes! Citizens of other states and foreign countries are able to own and operate a Hong Kong corporation. You can live anywhere in the world. It’s no problem. Hong Kong jurisdiction does not require you, as shareholder(s) or director(s), to hold meetings in Hong Kong. Back to questions

• What are the rules for company names?
• You cannot use a name that is already in use or in the process of being registered. Company names already in use can be found in the Hong Kong Company Registry’s Cyber Search Center. If you don’t find your company name in the Registry, it is free to use.
• The Company Name Guidelines require that an English company name must end with the word “Limited”. This suffix is “Limited” and not “Ltd.” However, some companies are using the suffix “Ltd.” or do not use the suffix at all. Back to questions

2)   Startupr service FAQ

• How long does the Hong Kong company formation procedure take?
• Startupr is the fastest incorporation provider in Hong Kong. Using the Company Register (CR) provided by the Special Administrative Region (SAR) of Hong Kong, Startupr can form a Hong Kong Company in two hours.  Back to questions
• How much does it cost and what do I receive?

• You can customize your order according your needs. If you have a Hong Kong address, a secretary (Hong Kong resident), know how to get incorporation documents and know how to open  a bank account, you can choose the incorporation service and pay 689 US$ (Hong Kong government  fees + 89 US$ Startupr Incorporation fees) Back to questions

• Do I need to be present in Hong Kong during the company incorporation process?
• You do not need to be physically present at the time of company registration. Startupr will make the necessary arrangements so that you will be able to register your company in Hong Kong remotely, legally and painlessly. If you would also like to open a bank account remotely (e.g. with HSBC center), Startupr can also help you with that. Back to questions

• What documents do I need to send in order to incorporate a Hong Kong company? Do I need to sign anything?

• Yes, you will need to sign the NC3 form. Startupr will need the NC3 form, the Consent to Act as First Director. The director must sign the NC3 form and dispatch it to us along with our order form.  The NC3 form will be provided once Startupr incorporates a company.
• No identification is required.  For our records, Startupr requires scanned copies of your passport(s) and utility bill(s) (phone, water, electricity, etc.) Back to questions

• Where can I find out about the entire incorporation procedure from start to finish?
• We’ve already made a page explaining how our online registration works. Please visit the “How do we register your Hong Kong company?” link on the bottom of the page. Back to questions

• What do I receive when all incorporation is complete?
• You will receive the official documents from the Hong Kong government in order to open a bank account. It will include the following: NC1-Certificate of Shares, Memorandum and Articles of Association, and Business Certificate. Back to questions

• How do I form and register a local limited company in Hong Kong?

1. Choose a company name first.
2. Download our order form and send it back.
3. Forms will be checked if properly filled out and if Startupr received payment.
4. Incorporation will be processed within a few working days (usually 24 hours).
5. Incorporation Forms: NC1 (for company limited by shares), Memorandum and Articles of Association, and Business Certificate.

Back to questions

• • How long does it take to open a corporate bank account in Hong Kong?
  • Once Startupr has the incorporation documents from the Company Registry, we can proceed with bank account opening. Startupr usually open new accounts with HSBC but we can use a different bank based on your preference. The turnaround time for processing is two to ten days. Back to questions

• • What currency can I use as share capital of a Hong Kong Company?
  • Share capital of a Hong Kong company can be in any major currency. Usually, share capital is represented in Hong Kong Dollars (e.g. 1 share = 1 HKD). Back to questions

• • Do I (as a foreigner) need to have a Hong Kong partner to incorporate a company?
  • No, Hong Kong companies do not require a local shareholder or a director. Back to questions

• • Are Corporate Directors permitted?
  • Yes. A single natural citizen or a board of directors can be appointed. For example, a company incorporated in British Virgin Island can act as director. A natural person, like an Indian citizen, can act as corporate director. Back to questions

• • Can I change the company name once I register the company?
  • Yes. You have to pass a special resolution called a Notification of Change of Company Name. This has to be filed with the Hong Kong Companies Registry.  Back to questions

• How can I deregister, strike off and wind up a Hong Kong company?
• Deregistration of Hong Kong is a quick and inexpensive procedure for closing HK company. A company can only deregister if it never actually commenced business.
• Winding up is the process of clearing the accounts and liquidating the assets of a HK company for the purpose of making distribution of the net assets to members.
• Striking off is process when Company Registry decides to close a company in case of any violation against to Company Ordinance.
• eregistration, winding up or striking off of a company will result in the dissolution of said company. Back to questions