Company registration in Hong Kong has always raised a lot of questions especially if you wanted to set up a business remotely. We are ready to prove that setting up a company in Hong Kong remotely is still possible. Moreover, such a service can be convenient and relatively affordable.
- Reduce the risks (related to COVID-19, opening a bank account, taxes and/or accounting, legal support, etc.).
- Accelerate the company registration procedure in Hong Kong significantly and launch your business.
- Execute all the necessary documents in the right way at once.
- Enjoy an extended set of extra services. There are quite a lot of options in this connection, and you can choose the items you need. Most often our clients choose the corporate account, extended visa support, accounting services and redomiciliation of the existing company to Hong Kong from the offshore / mid-shore jurisdictions when registering a company in Hong Kong (remotely or visiting the jurisdiction).
- Cooperate with a reliable and trusted provider of business solutions.
Important information. Please note that the company formation in Hong Kong as the experts of Offshore Pro Group and International Wealth portal see it, is an integrated turnkey solution for business of any scale and industry. One cannot compare our approach and just a company registration in Hong Kong when the client is often left alone with the issues that might arise.
- Company registration in Hong Kong remotely is an advantageous and popular integrated corporate solution.
- The top level of service. When registering your company (remotely or in person), you will have an assigned expert who knows all the potential client’s needs.
- The client doesn’t have to communicate routinely with technical staff. But if you wish to control every stage of remote company registration in Hong Kong in person, we will provide you with such an opportunity.
- Continuous monitoring of the situation. If there are any difficulties or problems during the remote company registration in Hong Kong, we will definitely take control of the situation.
- Fast-track remote business registration with the due level of quality.
- Reduced costs.
- Data security is guaranteed (to the extent possible nowadays).
Conditions for Remote Company Registration in Hong Kong
All procedures related to the registration of a business / a legal entity in Hong Kong are governed by simple and clear laws. Remote company registration is no exception. But this does not mean that you can do everything yourself. The risk of making a mistake when setting up a company in Hong Kong yourself is very high, and any savings will be negligible in the long run.
Basic requirements for a company (and actually, any business) in Hong Kong:
- 1 shareholder which can be a natural person or a legal entity. Their residency does not matter.
- 1 director on the same conditions (they must be permanently present in the jurisdiction).
Important note. All information on the company secretary, directors and shareholders in Hong Kong is publicly available. If this is no option for you, you might consider using the professional services of those officers when establishing a company / business in Hong Kong remotely.
Important information. When planning remote company registration in Hong Kong, one should keep in mind that bearer shares are prohibited here.
Remote Company / Business Registration in Hong Kong Step by Step
Our experts will update you on all the peculiarities of the procedure. If you wish so, you can control every stage of your company registration in Hong Kong, but usually there is no need for this.
What is the best sequence of steps?
- Submit an initial request. At this step you contact the International Wealth experts in a convenient way (here are the communication options). If your business is eligible for company formation in Hong Kong, we will discuss the list of basic / extra services, listen to your expectations and special requirements for remote company or business registration in Hong Kong.
- Pay for the service. We will issue an invoice which you can pay in several ways (here are the payment options). In most cases the amount is final. But if the service of remote company registration in Hong Kong requires additional steps and/or actions, the total amount may increase.
- Choose the company name. We recommend preparing 3 to 4 options. If one of them is unavailable during remote company formation in Hong Kong, we will use a backup name.
- Send your set of documents. The minimum set of documents for remote company registration in Hong Kong consists of copies of passports of the director and shareholders, as well as documents confirming their address of residence (a recent paid utility bill will do as proof of residence).
Important information. All documents for remote company registration in Hong Kong must be either in English or translated into English and notarized.
- Provide our experts with the initial information on your company / business in Hong Kong, i.e. scope of business, registered address (the basic option is registration at the address of our representatives’ office in Hong Kong) and authorized capital (10,000 HKD, with certain options).
Important information. If you are interested in setting up a company in Hong Kong in person, or if you prefer to monitor the main stages of business registration, there may be additional conditions and requirements.
What will I get? Documents confirming the successful remote company / business registration in Hong Kong:
- Hong Kong Business Registration Certificate.
- Hong Kong Certificate of Incorporation.
- In order to legally run a business in Hong Kong you may also need licenses and/or permits for special types of business, etc. Therefore, upon remote company registration in Hong Kong, please talk to our experts and discuss the necessary steps in that regard.
Cost of Setting Up A Company in Hong Kong Remotely
The prices mentioned below are relevant at the time of this article publication for typical (more or less standard) cases. If the remote company registration in Hong Kong requires extra effort, we will discuss the available alternatives with you individually.
The total cost of remote company/business registration in Hong Kong is 2,640 USD. What is included? See the list below:
- Execution of documents, stamp production, state registration fee, the first year of company operation in Hong Kong 1,200 USD.
- Services of a professional secretary (a company) 350 USD per year.
- Registered address 350 USD per year.
- Start of the register of key controlling persons 350 USD.
- Representative’s services for keeping and updating the register of key controlling persons 390 USD per year.
All companies upon registration in Hong Kong (be it remote or in-person) are required to have the following:
- Secretary, resident of Hong Kong (natural person/legal entity).
- Registered address in Hong Kong (no mailbox option). Please note that you should not save on substance when setting up a company in Hong Kong. It is dangerous and risky.
- Register of key controlling persons.
The cost of our services covering these requirements is 1,625 USD, payable one year after remote company registration in Hong Kong.
- Local registered office, filing the address with the Hong Kong Companies Registry and the Inland Revenue Department 350 USD per year.
- Services of local secretary (company) 350 USD.
- Services of the representative keeping and updating the register of key controlling persons 390 USD per year.
- State fee 300 USD per year.
- Annual report on corporate structure of the company in Hong Kong 235 USD.
Accounting and Audit in Hong Kong (In Case of Successful Remote Company Registration)
Upon registration, every company in Hong Kong must keep accounting records at all times (they are submitted to the auditors for annual audit). Accounting records are kept at the company’s registered office in Hong Kong or in another place (approved by the decision of the company’s directors). Please note that in case of remote company registration in Hong Kong this requirement is still applied.
The cost of preparing the accounting reports is calculated on the basis of the Hong Kong company turnover. It also depends on the accuracy of the transactions and records of transactions in the company. If a company has no in-house accountant, please discuss it with our experts. There is an option of outsourcing the bookkeeping. The best way is to order this service immediately upon the remote company registration in Hong Kong.
Accounting reports can be prepared once a month, quarterly or annually (before the audit). It all depends on the volume of transactions. It is recommended to start monthly or quarterly, and then decide what suits your company best.
Outsourced accounting and bookkeeping service (1 year) from 700 USD per year*:
- Comprehensive information on the company’s financial situation in Hong Kong.
- Cash flow forecasting and cash flow management.
- Preparation of income statement, balance sheets and reports of subsidiaries on a quarterly basis.
- Analysis of ratios to evaluate company performance.
- Proposed solutions to reduce company costs.
Annual mandatory audit service from 1,200 USD/year* (performed remotely, your presence is not required):
- Preparation of company audit report in Hong Kong with balance sheet, income statement, cash flow statement and notes to financial statements.
- Review and arrangement of accounting supporting documents, ledgers, financial statements, bank statements, invoices, contracts, etc.
- Review of the company’s bank reconciliation and minor expenses.
- Review of company inventory in Hong Kong.
- Preliminary audit before the annual audit.
- Access to financial policies such as depreciation method, cost system, pricing policy.
- Revision of payroll register.
- Internal control and due diligence.
Tax Accounting for A Company in Hong
It is rather difficult and not very practical to discuss all the intricacies of business taxation in Hong Kong in a single article especially if it is focused on remote company formation. On the other hand, you should clearly understand that any tax law violations yet explained solely by your inexperience are very severely punished in Hong Kong.
Therefore, in this article we will cover only the factors that make it possible to classify a Hong Kong company as a legal entity making profits within the jurisdiction (the final decision is made by the IRD). For key points on taxation and detailed information on the subject please see our other materials on Hong Kong or ask your questions to our experts.
Signs that a Hong Kong company/business makes profits within the jurisdiction which leads to corporate tax liabilities:
- Analysis of commercial operations of the company/business in Hong Kong (what was done to make a profit and where). After the remote business registration and the actual commencement of business operations, there may be a situation when some of the profits will be qualified as made in Hong Kong and some as made overseas, but such cases require separate consideration. The regulator will mostly analyze large transactions, as well as your company’s interaction with other business entities in Hong Kong.
- The place where the actual decisions on doing business in Hong Kong are made. In some cases, you may be asked to provide the director’s passport, as well as data on border crossings.
- The source of the company’s income in Hong Kong. If you qualify for tax benefits and/or corporate tax exemption, be sure to keep any documentary evidence of working with local companies after registering your company remotely. You may have to provide them.
- Business presence of the company in other countries. If your company does business only with customers from Hong Kong, the likelihood of obtaining a tax exemption will be extremely low.
Should you have any further questions on setting up a company in Hong Kong remotely or maintaining it, please feel free to contact us in a convenient way to get customized assistance and choose a strategy for further action. Please e-mail us at firstname.lastname@example.org or use alternative communication channels.
Open a Corporate Investment Account in Hong Kong