Every time that an investor thinks of taking a business offshore, picking a destination is never easy. While a lot of jurisdictions are marketed as the best, you can never be sure before interrogating their systems.
However, one region that has remained a top investment hub in the entire globe is Hong Kong. Hong Kong operates as a Special Administrative Region of China which is a completely independent jurisdiction.
At this point, it is important to ask; why Hong Kong? Hong Kong has taken more than half a century to develop robust systems for a great business economy. In particular, the economy has the following advantages for investors.
- Highly supportive administration
- It serves as a gateway to the mainland China and the entire Far East
- The company has a highly developed infrastructure
- There is a constant supply of highly skilled staff
- Hong Kong is a global financial
To start operating a business in Hong Kong, investors are required to open limited liability companies. This business formation is preferred by the authorities because the investor’s liability is limited to the share he/she holds.
How to register a company in three simple steps
Simplifying the company registration process is part of Hong Kong administration effort to make doing business easy and enjoyable. Here are the three steps required to incorporate a company.
- Collect all the required documents. The documents required include a memorandum of understanding, article of association, and photocopies of shareholders and directors.
- Get a company secretary, address, and complete name search: The company secretary and address are very important components of the registration process. You should also carry name search to avoid conflict of interest.
- Present the documents to the Companies Registry: Once all the documents are ready, you are required to present them at the company’s registry or upload them in their portal. You should also pay the required fee and then wait for 4-14 days to get the certificate of incorporation.