Tips on how to Register a new Company in Hong Kong

Based on an agreement signed by China and the UK on 19 December 1984, this region became the Special Administrative Region (SAR) of China on 1 July 1997. In this agreement, this rich territory will like a high degree of autonomy in every matters except foreign and defense affairs for the next 50 years. And under China's "one country, two systems" formula, the chinese government has promised that China's socialist economic system will not be imposed on Hong Kong. Additionally it has got the advantaged location which is found in Eastern Asia, bordering the South China Sea and China, and convenient for trading.

The region is one of many world's most crucial and efficient financial centers. Takeing the main advantage of no exchange control, sound legal system, efficient transportation and huge communication networks, establish company in Hong Kong the company in Hong Kong are attractive for traders around the world. This area is ranked the freest economy in the world. Since then, how to join up a business in Hong Kong?

By statute a Hong Kong company should have the following conditions to form. To begin with, it must offer a new name of the corporation and have a look at if the name is available. Secondly, copies of ID cards or passports of shareholders are indispensable, and there must be no less than one adult shareholder. Thirdly, it is necessary for a business have the registered capital. If the fund has ended 10000 HK Dollars, there's statutory requirement that the us government will levy 0.1% of stamp tax. Furthermore, the proportion of shares allocated should be confirmed among directors and shareholders. Last although not least, the company ought to fill in accordance contact information, including directors' and shareholders.

Besides, nowadays, an increasing number of individuals elect to entrust some reliable agents to attain the company formation. And the method has essential steps below. First, both parties such as the corporation and the agent should sign for an electrical of attorney and an agreement. Second, the firm must prepay 50% of total charge to the agent. Then your agent will draw legal forms and information from Companies Registry and Inland Revenue Department, and constitute the articles of association of the company. Third, shareholders should autograph several legal documents and related information which have to be back again to the agent subsequently. Later the agent will submit the above mentioned documents to CR and Inland Revenue Department to register. When the company formation is completed, the company will probably pay the remainder to the agent.