How to Register a Company in Hong Kong a Step-by-Step Guide

Types of Companies in Hong Kong

When starting a business, understanding the available company structures is essential. In Hong Kong, there are several types of companies to choose from, each catering to different business needs and operational goals. The most common types include:

• Private Limited Company: Ideal for small to medium-sized businesses. This structure limits the liability of shareholders and is the most popular choice among entrepreneurs in Hong Kong.
• Public Limited Company: Suitable for larger businesses aiming to raise capital through public offerings. This structure requires more compliance and reporting.
• Sole Proprietorship: A simple structure for individuals running a business. While easy to set up, it doesn’t offer liability protection.
• Partnership: A structure where two or more individuals share ownership, similarly, it doesn’t offer liability protection.

When deciding, consider factors like liability, taxation, and long-term business goals. Consulting with a professional can help you make the right choice for your situation.

Company Name | Choosing the correct company name

Selecting the right company name is a critical first step in the registration process. A well-chosen name not only defines your brand but also ensures compliance with legal regulations in Hong Kong.

Key Considerations for Naming Your Company

1. Uniqueness and Availability
   • The name must be distinct and not identical to an existing registered company. Use the Companies Registry’s online search tool to verify availability.
   • Avoid names that may cause confusion with government bodies or other established organizations.
2. Compliance with Legal Requirements
   • The name cannot include prohibited words or phrases that may mislead the public.
   • If your company is a limited entity, the name must end with “Limited.”
3. Relevance and Brand Alignment
   • Choose a name that reflects your business’s nature and values. A relevant name can enhance customer trust and brand recall.
   • Keep it simple and professional to appeal to a wider audience.

Steps to Reserve and Register Your Company Name

1. Perform a name search through the Companies Registry’s electronic portal.
2. Once you find an available name, include it in your incorporation documents.
3. Submit your application along with the required fees.

Example Scenarios

• A startup in technology might opt for a modern, innovative name while adhering to naming guidelines.
• A family-owned business may prefer a name that reflects tradition and heritage, ensuring it complies with registration rules.

Your company name is more than just a label; it’s a foundation for your business identity. Ensure it aligns with your brand, complies with legal standards, and is unique within the marketplace. Taking these steps early can save time and avoid complications during the registration process.

Incorporation Documents

Registering a company requires the submission of specific incorporation documents. These documents form the backbone of your business’s legal identity and ensure compliance with Hong Kong’s regulations.

What Documents Are Required?

1. Incorporation Form (Form NNC1 or NNC1G)
   • The form depends on whether your company is limited by shares (NNC1) or other types (NNC1G). It includes essential details such as the company’s name, registered address, and directors’ information.
2. Articles of Association
   • This document outlines the rules governing the company’s operations and internal management. While a template is available from the Companies Registry, you can tailor it to suit your business needs.
3. Identification Documents for Directors and Shareholders
   • A copy of a valid ID (such as a passport or Hong Kong ID card) is required for each director and shareholder to verify their identity.
4. Business Registration Certificate Application
   • This application is submitted alongside the incorporation form. It allows your business to legally operate in Hong Kong and serves as a tax registration.

Tips for Preparing Your Documents

• Double-Check for Accuracy: Ensure all information is consistent across forms and supporting documents to avoid delays.
• Use Professional Services: If you’re unsure about the requirements, professional service providers can help prepare and submit your documents correctly.
• Stay Updated on Requirements: Regulations may change, so consult the Companies Registry website or a professional to confirm the latest guidelines.

Example Scenario

Imagine a retail startup incorporating a private limited company in Hong Kong. They prepare the incorporation form (NNC1), customize the Articles of Association to include specific decision-making procedures, and submit valid IDs for all three directors. By ensuring everything is accurate, their application is approved within the standard processing time.

The preparation of incorporation documents is a vital step in establishing your company. Taking the time to complete them correctly ensures a smoother registration process and sets the stage for your business’s success. Always seek professional advice if you encounter challenges.

Registration Fees

Understanding the costs involved in registering a company is essential for effective planning. In Hong Kong, company registration fees vary depending on the company type and the services used during the incorporation process.

What Are the Key Costs?

1. Incorporation Fee
   • The basic fee for submitting incorporation documents to the Companies Registry. This fee is mandatory and applies to all company types.
2. Business Registration Certificate Fee
   • A separate charge for obtaining the business registration certificate. The cost depends on the validity period, typically one or three years.
3. Additional Service Charges
   • Using professional services for assistance with incorporation or document preparation will incur additional fees. These services often simplify the process but vary in price.

Fee Structure Overview

• Private Limited Company: Typically incurs a fixed incorporation fee along with the business registration certificate fee.
• Public Companies: The fees are generally higher due to additional regulatory requirements.
• Online vs. Offline Applications: Online applications may offer lower fees and faster processing times compared to manual submissions.

Tips to Manage Costs

• Plan for Additional Expenses: Consider costs for professional advice, legal consultations, and optional services like virtual offices or company secretarial support.
• Check for Updates: Fees can change periodically, so review the latest fee schedule on the Companies Registry website.
• Explore Discounts: Some service providers offer bundled packages, which can reduce overall costs if you require multiple services.

Example Scenario

A startup incorporating as a private limited company might pay the standard incorporation fee plus the one-year business registration fee. By using an online application, they save time and potentially reduce costs compared to an offline process.

Knowing the registration fees upfront allows you to budget effectively and avoid unexpected expenses. Regularly checking for updates and exploring cost-saving options ensures you remain prepared and financially efficient during the company registration process.

Electronic Service Portal

The Companies Registry’s electronic service portal simplifies the company registration process by offering a digital platform for filing and managing applications. This service is particularly useful for entrepreneurs and professionals seeking convenience and efficiency. Before going to the Companies Registry for user registration, the identification document should be prepared beforehand.

For individual user accounts, you may prepare a digital certificate of your identity document, or a certified true copy of the identification document. The document should be a Hong Kong Identity Card or overseas passport certified by a qualified accountant, chartered secretary or lawyer. If you would like to submit the identity document in person, you can present the original documents to the Companies Registry. The verification counter is on the 13th floor of the Queensway Government Offices.

Key Features of the Portal

1. Online Application Submission
   • Entrepreneurs can file incorporation forms, submit supporting documents, and pay fees directly through the portal. This eliminates the need for physical visits or manual submissions. 
2. Document Verification and Updates
   • Users can track application statuses and receive notifications about required corrections or approvals. This feature ensures transparency and helps resolve issues quickly.
3. 24/7 Accessibility
   • The portal is available round-the-clock, allowing users to manage tasks at their convenience, regardless of time zones or business hours.
4. Secure Payment Options
   • The portal supports multiple payment methods, ensuring secure transactions for registration and related fees.

How to Use the Portal

1. Create an account by registering your details on the portal’s website.
2. For individual user accounts, you may prepare a digital certificate of your identity document, or a certified true copy of the identification document. The document should be a Hong Kong Identity Card or overseas passport certified by a qualified accountant, chartered secretary or lawyer. Non-HK citizens can contact a CPA firm for assistance. 
3. Log in and select the relevant service, such as filing an incorporation form or applying for a business registration certificate.
4. Upload required documents and review your application before submission.
5. Pay the associated fees through the portal’s secure payment gateway.

Practical Scenario

A tech entrepreneur launching a private limited company in Hong Kong uses the portal to submit the incorporation form and articles of association. Within hours, they receive confirmation that their documents are under review, saving time compared to traditional submission methods.

The electronic service portal is a valuable tool for simplifying and accelerating company registration. Its accessibility, transparency, and convenience make it an essential resource for modern entrepreneurs navigating the incorporation process.

Processing Time

The processing time for company registration in Hong Kong can vary depending on the method of application and the accuracy of submitted documents. Knowing what to expect helps you plan ahead and avoid unnecessary delays.

Standard Processing Times

1. Online Applications
   • The Companies Registry typically processes online applications within one working day. This is the fastest option and is ideal for entrepreneurs seeking a quick setup.
2. Offline (Paper) Submissions
   • Applications submitted manually take longer, usually around  seven to ten working days. The additional time accounts for document handling and manual verification processes.
3. Corrections or Missing Information
   • If any required documents or details are incomplete or incorrect, processing may be delayed further. Ensure accuracy to avoid these setbacks.

Factors Influencing Processing Time

• Peak Periods: Registration volumes can spike during certain times of the year, such as at the start of a new fiscal year. This can slightly extend processing times.
• Nature of the Application: Complex applications, such as those for public companies, may require more time for review.
• Technical Errors: Issues with online portals, though rare, can occasionally delay digital submissions.

Example Scenario

A small business owner filing an online application ensures all documents are accurate and uploaded through the portal. Their application is processed and approved the next day, allowing them to proceed with operations promptly.

Understanding the expected processing times ensures you can plan other aspects of your business launch effectively. Choosing online submission and double-checking your documents can significantly reduce delays, enabling you to get started sooner.

After Incorporation

Once your company is successfully registered, there are critical steps to follow to ensure compliance and prepare for business operations. This stage is just as important as the registration process itself, as it lays the groundwork for your company’s long-term success.

What Comes Next?

1. Open a Corporate Bank Account
   • A business bank account is essential for managing finances. Most banks in Hong Kong require your company registration certificate, business registration certificate, and identification documents for directors and shareholders.
2. Consult with your Company Secretary
   • Every company in Hong Kong must appoint a company secretary. This individual or entity ensures compliance with local regulations, including maintaining statutory records and filing annual returns. After the company is registered, it is important to discuss with your company secretary about the different deadlines in renewing the company, and you can mark it in your calendar in advance.
3. Set Up Accounting and Tax Records
   • Accurate record-keeping is mandatory under Hong Kong law. Implement an accounting system to track income, expenses, and other financial transactions. Ensure you meet the Inland Revenue Department’s requirements for tax filings.
4. Obtain Necessary Licenses or Permits
   • Depending on your business activities, you may need additional licenses or permits. For example, food and beverage businesses require health and safety approvals.
5. Register for Mandatory Insurance
   • Employers are legally obligated to provide Employees’ Compensation Insurance for their staff. Depending on your industry, additional insurance types may be advisable.

Example Scenario

A newly registered eCommerce business in Hong Kong opens a bank account to facilitate online transactions. They appoint a local company secretary to handle compliance and implement accounting software for seamless tax reporting. With these foundations in place, the business is ready to launch.

After incorporation, taking these steps ensures that your company operates legally and efficiently. By addressing these requirements early, you’ll avoid future complications and establish a strong foundation for growth.

Our Company Formation Packages

At GetStarted HK, we understand that starting a business in Hong Kong requires careful planning and expert guidance. That’s why we offer tailored company formation packages designed to meet the unique needs of entrepreneurs and businesses of all sizes. Each package is crafted to simplify the registration process, ensure compliance, and set you up for success.

What’s Included in Our Packages?

1. Deluxe Package: For Entrepreneurs who run General Business
   • Ideal for small startups or sole proprietors who want to handle day-to-day operations independently.
   • Includes preparation and filing of incorporation documents, business registration, one year of company secretarial and registered address service.
2. E-commerce Package: For Entrepreneurs who run E-commerce Businesses
   • Best suited for companies which requires support to open a Paypal account 
   • Covers incorporation, business registration, a registered office address, professional accounting setup to help you stay compliant with tax regulations. Other than that, we also help with getting a Hong Kong telephone number so we can create the Paypal account for you easily. 
3. Trading Package: For Entrepreneurs who runs import / export trading business 
   • Designed for those who needs to import and export large amount of goods internationally
   • Customer can choose (upgrade) a 2 year old ready made company from our list. 
   • Includes all features such as virtual office services, employee insurance registration, and assistance with opening a corporate bank account.

Why Choose GetStarted HK?

• Expert Support Every Step of the Way
  Our team of professionals ensures that your application is accurate, complete, and processed quickly.
• Transparent Pricing
  All our packages come with clear pricing, so you’ll never encounter hidden fees or unexpected costs.
• Tailored to Your Needs
  We work with you to choose the right package, ensuring it aligns with your goals and business structure.

Real-Life Example

An e-commerce entrepreneur chose our e-commerce Package to incorporate a private limited company. Within a week, they had their registration documents, a registered office address, and an accounting setup ready for operations. They also got a HK phone number, a Paypal account, and also an Airwallex bank account/ The entrepreneur appreciated the seamless integration of our services, which allowed them to focus on growing their business.

Whether you’re launching a startup or expanding your operations, GetStarted HK’s company formation packages offer the tools and guidance you need to succeed. Contact us today to find the perfect package for your business journey.