Table of Contents
Contents
- CHAPTER 1: The Basics and Definition Guide
- CHAPTER 2: Ways to Register a Company in Hong Kong
- CHAPTER 3: The Costs for Company Formation
- CHAPTER 4: How To Open a Corporate Bank Account in Hong Kong
- CHAPTER 5: Taxation in Hong Kong
- CHAPTER 6: How to Conduct Due Diligence in Spotting Scammers and Middleman
- CHAPTER 7 : How To Choose the Ideal Company Formation Agent in Hong Kong?
- Conclusion
- References
When entrepreneurs plan for an offshore business, they often decide to register a company in Hong Kong. Not only is Hong Kong an easy gateway to enter into China market, offshore profit is not taxable by the Hong Kong authority. However, registering a company in Hong Kong can sometimes be difficult and time-consuming especially you have to conduct a comprehensive research to understand the local regulations and requirement. In this guide, we’re going to break down the process of creating your business in Hong Kong. We will also highlight some common complications faced by foreign entrepreneurs, and how we can overcome these issues.
First of all, why incorporate in Hong Kong?
Aside from being the best business-friendly city to start a business, I have summarized 10 points about why many foreigners choose to incorporate their companies in Hong Kong.
- Straightforward and easy process for company formation.
- Business outside of Hong Kong is tax-free (Hong Kong Offshore status) – 0% Tax Rate.
- Low and simple tax regime; the tax rate for onshore profit is only at 8.25%.
- No tax on dividends.
- No withholding tax, sales tax or VAT.
- Business Center in Asia.
- Excellent world-class business infrastructure and facilities.
- The easy way to enter the international market.
- 100% ownership by a foreigner is permitted.
- Enjoy an efficient banking system & multi-currency bank accounts.
CHAPTER 1: The Basics and Definition Guide
Before we go further, we’ll need to go over some terminologies and processes that you may encounter when you register a company in Hong Kong as a foreigner.1. How To Choose Your Company Name
The first step to register a company in Hong Kong is to choose a company name. A Hong Kong limited company can have its name expressed in English or in Chinese, or with names in both languages. If you adopt an English name, then “Limited” shall be the last word of the name. If you adopt a Chinese name, then it shall end with “有限公司”.
Traditional vs Simplified Version
Foreigners shall be reminded that there are two types of written Chinese – Traditional and Simplified version. Hong Kong adopts Traditional Chinese while Mainland China uses Simplified Chinese. If your company has a Chinese name, it must be in Traditional Chinese. The Hong Kong Companies Registry does not recognize simplified Chinese in the application form.
Tips When Choosing a Company Name
Additionally, there are several important points to note when you choose the name of your company. First, the name must not be the same as a name appearing in the Registrar index. You can contact a company formation agent for verification. Name search result can usually be available as fast as 15 minutes. Second, the use of the name must not be offensive or contrary to public interest. For example, wordings which express “revolution, violence, army” may need further approval. Third, some specific phrases such as “levy”, “trust”, “trustee”, “savings”, “chamber of commerce” are usually not allowed. If the Hong Kong Company Registry refuses to accept a name, the application fee is only partially refundable. Hence, foreigners are recommended to conduct a proper name search before submitting the application.
Check the Availability of Your Company NameYou can check the availability of your Company Name in Companies Registry’s 24×7 Cyber Search Centre (http://www.icris.cr.gov.hk/normal.html). Should you find the process complicated, you can follow our guideline “How to conduct a name search” to check the availability for registration.
2. How To Appoint a Company Secretary & 6 Important Tips
At Get Started HK, we are proud to have over 1,000 Google reviews and more than 100 real video testimonials from satisfied clients. These video testimonials are powerful because they feature genuine customers speaking about their experience, not just anonymous text on a website. When you register a company in Hong Kong, you need to have a “company secretary” who is either a Hong Kong resident or a Hong Kong company. A company secretary is not an administrative role. It is a role to comply with the registration purpose. There are 6 important tips when choosing a company secretary service provider.
- Look at the older reviews and see if they mention the same company name.
- If you find reviews referring to a totally different company in another jurisdiction, commenting on unrelated products or services, you should be cautious.
- They provide accounting reports that are not audited and cannot be used for tax filing.
- Later, they charge you again for auditing services.
- The first tax form in Hong Kong is only received 18 months after incorporation, meaning you don’t need to pay accounting and auditing fees until the second year.
- By charging you upfront, they hold your cash unnecessarily and give you reports that cannot be submitted directly to the tax department.
- Always verify reviews and licenses (see tips above)
- Don’t fall for upfront accounting/auditing fees or “free” gimmicks.
- Be cautious of “unlimited” promises that hide restrictions.
- Pay fair market rates, not inflated packages.
- Rely on professional CPAs, not middlemen.
- Never risk appointing unqualified friends or family as company secretary.
3. What are the Requirements for Directors and Shareholders?
Unlike Singapore, foreigners are allowed to have 100% control of their limited company in Hong Kong. In other words, a foreigner can be the sole director and shareholder. There is no need to have a local director or shareholder. While there are no express restrictions in nationality, most licensed agents are not willing to accept applications from UN-sanctioned countries unless the customer can fulfill their KYC and AML checking requirements. As of November 2018, these countries include, but not limited to, Burma, Cote d Ivoire, Cuba, Iran, North Korea, Syria.
The Minimum Requirement for Share Capital
A Hong Kong company needs to issue a minimum one share. While the principle for par value has been abolished in Hong Kong, the norm for the value of each share is usually HK$1. For easy reference, the norm in Hong Kong is to have 10,000 shares with 10,000 share capital. You can increase the share capital and allot new shares to new shareholders in the future Apart from allotting new shares, you can also transfer your shares or ownership to other parties.
4. The Importance of Having A Registered Address
To register a company in Hong Kong, it is fundamental to have an address in Hong Kong as the registered office. There are 18 districts in Hong Kong while most foreigners will choose the Central Business District, and “Central” is the Central Business District (CBD) in Hong Kong. Foreigners only need to have a virtual address. There is no need to rent a physical office in Hong Kong.
The Hong Kong government will send 2 – 4 letters to your virtual address / registered business address per year. All of these letters have a time frame to reply and a late fee will incur if one does not reply before the deadline. Hence, you should ensure your service provider will scan you these important letters upon receipt. For Bank Letters, almost all banks in Hong Kong provide e-statement these days. You can download these statements outside Hong Kong and you can have full control of your bank information remotely.
Mail Scanning & Forwarding ServicesOther than fulfilling the regulations to have a business office address / virtual address in Hong Kong, sometimes entreprenuers may require mail scanning and mail forwarding service. We offer a scanning service at HK$30 handling fee per mail. For ease of payment, we usually charge when the service fee reaches HK$600 (i.e. 20-time scanning) so you don’t have to pay for each request. All government letters scanning are free of charge. If you would like the letters to be forwarded to your physical address, we will check the mailing fee with the courier service provider and let you know before forwarding.
Can I change the registered address in the future?
After the company is registered, company owners can still change the registered address. If you decide to update your registered address, we have three (3) important reminders. If you need more details or a step to step guide, you can check out our blog “How to change your registered address“.
- You should reserve a minimum 1-month processing time in updating the address. Sometimes there are red tapes in the HK banking system. Most banks require customers to fill up a form. You cannot update the address by writing a letter or email to your account manager.
- You should inform the Hong Kong Company Registry by submitting Form NR1. It is an offense if the company fails to notify the government in time. Each responsible person of the company can be liable for a late fee of $1000 per day.
- The company owner should inform the Inland Revenue Department by submitting Form IRC3111A within one month of such change. Advanced notice will not be accepted. Failure to comply may lead to prosecution.
CHAPTER 2: Ways to Register a Company in Hong Kong
There are two (2) ways to register a Company in Hong Kong: paper submission and online submission.
The Timeframe for Paper Submission: In the Hong Kong Company Registry website, the Government states that company incorporation takes 4 business days[2]. However, many incorporation agents will tell you the shortest time frame in practice is around 5 to 7 business days. You may be curious why is there such an inconsistency. The fact is that processing time usually excludes the filing date. After the Government registers your company in record, certificate of incorporation and business license will only be issued on the fifth day. Hence, you can expect a time frame of 6 – 7 business days for paper submission.
The Timeframe for Online Submission: The government has introduced the e-Registry system in recent years. The term “online submission” has confused many non-locals during the year. In fact, there is a pre-requisite for using the system. Foreigners need to present their passport to the Company Registry in person. Alternatively, they will need a Hong Kong Practicing CPA or Chartered Secretary recognized by the HKICS to certify their passport copy. If non-locals want to make use of the E-registry system, you must hire a TCSP licensed agent. Processing time via e-Registry usually takes 1 business day.
The Main Procedure in Setting up a Company Online
If you use our service at Get Started HK, we can incorporate your company within 1 business day remotely. We only require three (3) things from you.
- Proposed Company Name,
- Copy of your passport, and
- Copy of your residential address proof.
Residential address proof can be a personal bank statement, utility bill or a phone bill which was issued within the past 3 months. You can fill up our application form using this link. After you have successfully placed your order, we will email you draft incorporation documents for review within 3 business hours. After you confirm the documents, we will submit to the government for registration. The certificate of incorporation will then be ready in 1 business day.
CHAPTER 3: The Costs for Company Formation
We provide a range of packages tailored to your needs. Our most popular choice is the Deluxe Package at US$990, which includes the government filing fee, mandatory company secretary service, and a prestigious registered business address in Hong Kong’s Central business district, plus many additional features to give your business the strongest start. We will handle all the paperwork with both the Companies Registry and the Inland Revenue Department. Once your company is incorporated, you’ll receive the Certificate of Incorporation, Certificate of Incumbency, and the Business Registration Certificate. Alert: Sneaky “Free Incorporation” Claims Some incorporation agents advertise “free incorporation” and even claim they will cover the government fees US$510 for you. At first glance, this sounds attractive, but let’s be honest, there is no free lunch in this world. These agents still need to make money, and the way they do it is by hiding costs and charging you later in ways that are far more expensive. Here’s how the trick works:- They ask you to pay accounting and auditing fees upfront on day one of incorporation.
- They then provide accounting reports that are not audited and therefore cannot be used for tax filing.
- Later, when your first tax form arrives (18 months after incorporation), they charge you again for proper auditing services.
- In reality, you don’t need to pay accounting and auditing fees until the second year, but by locking you in early, they hold your cash unnecessarily and give you reports that have no legal use with the tax department.
CHAPTER 4: How To Open a Corporate Bank Account in Hong Kong
NeoBanks such as Airwallex and Payoneer have become some of the most popular bank opening options for foreigners in recent years. NeoBanks are willing to open accounts for clients remotely and they have been taking a lot more market shares.
What’s more? For three consecutive years (2023, 2024 & 2025), Get Started HK has been awarded Airwallex’s No.1 Partner Award, a recognition of our unmatched expertise and client success. So Why settle for #2 (the others), when #1 – Get Started HK – is proven, trusted, and undefeated. We don’t just provide referrals, we build relationships. Together with Airwallex, we empower startups and SMEs with:- Multi‑currency accounts for seamless global transactions
- Fast, digital onboarding with fewer hurdles than traditional banks
- Integrated payment solutions for scaling businesses
FAQ #1: Can I open an account remotely?
Neobank accounts can be opened 100% remotely, no travel or paperwork headaches. You’ll receive Visa cards with global access, and as a multi‑year top‑ranked banking partner, Get Started HK can connect you directly with a designated bank officer for priority support. However, if you’d prefer a traditional bank account at HSBC, OCBC, DBS, then you need to fly over to HK for a face to face interview.FAQ #2: Can I appoint a representative to meet with bankers on my behalf?
No. Banks in Hong Kong need to meet with the director and shareholder. They do not meet with representatives. That being said, there is no need to worry, opening a neobank account is quick, simple, and fully online. Everything is guided step‑by‑step, so the whole process is fast and hassle‑free.FAQ #3: How long does it take to open a bank account in Hong Kong?
The average account opening time ranges from 3–4 days for neobanks to around 14 days for traditional banks.FAQ #4: Which documents must be submitted to open an account?
Bankers often ask for 5 documents, i.e. the Certificate of incorporation, Business license, Incorporation form NNC1 and articles & associations, and the certificate of incumbency. These items are included in all our incorporation packages.FAQ #5: What are the common questions banks ask?
Banks often ask about the nature of your business, your target customers, the countries you plan to operate in, and the source of funds. They will want details about the products or services you provide, and may inquire about your work or business experience to ensure your answers are consistent and credible.CHAPTER 5: Taxation in Hong Kong
FAQ #9: Do I have to pay tax in Hong Kong?
Hong Kong adopts a territorial source principle of taxation. In other words, offshore profits are not taxable by the Hong Kong local authority. Hence, if your source of income is outside Hong Kong, you can apply for offshore status. Once the Inland Revenue Department grants you the status, the corporate tax rate is 0%.
Conversely, if your source of income is in Hong Kong, you are subject to the Hong Kong profit tax. Hong Kong government recently sends a welcoming message to business starters who are looking for opportunities in HK by mulling huge cuts to profit tax since February 2018. The reduction confirms to be from 16.5% to only 8.25% for the first HK$2 million (US$256,000) in profit.
Foreigners shall also note that Hong Kong does not have a Value Added Tax (VAT). Hong Kong also does not have Capital Gain Tax.
CHAPTER 6: How to Conduct Due Diligence in Spotting Scammers and Middleman
When choosing a company formation service provider in Hong Kong, it’s critical to perform due diligence. Unfortunately, there are imposters and middlemen who use misleading tactics. Here are the key red flags to watch out for:1. Communication Channels
Legitimate Hong Kong CPA firms only communicate through email, WhatsApp, office landline phones, or in‑person meetings. If someone insists on using Telegram, to hide their identity, it’s a strong indication that they may be an imposter. When you conduct your research on company formation service providers, you shall always use the copy and paste email function. Typing can have typo and sometimes type to a wrong email address.2. Payment in Cryptocurrency
Payments made in crypto are untraceable, and scammers can vanish without a trace once they receive them. Licensed TCSP firms in Hong Kong are required to verify clients’ source of funds and do not accept cryptocurrency payments. If you receive a message from your CPA, asking you to pay in crypto, there is a high chance the message is from an imposter.3. Bank Account Details
Payments should always go to a Hong Kong bank account under the company’s name. If the invoice asks you to wire funds to a personal account or to a bank outside Hong Kong, that’s another clear sign of a scam. All HK CPAs will have bank accounts in Hong Kong, and support multi-currency. If have doubts, always check with the staff via the official site.4. Verify Contact Information
Always cross‑check the email address and WhatsApp number listed on the agent’s official website. If someone contacts you using a different number or email, you shall confirm with the official firm before proceeding. This step is important especially when you deal with a well‑known or popular company. The more famous a firm becomes, the more likely it is to attract imposters who try to exploit its reputation. Scammers often pretend to represent established names because they know clients are more likely to trust them without question.5. “Free Incorporation” Gimmicks
Be cautious of agents who promise free incorporation if you pay for other services upfront, such as accounting. The government fee alone is US$510 (HK$3,870) — no one can genuinely waive this. These offers are simply bait to lock you into hidden charges later.6. Website Security
Check the agent’s website. A legitimate site should use https:// for secure communication. If it’s only http://, avoid entering sensitive details or making payments. Here are some important points to consider to check the legitimacy of a Hong Kong company formation agent:CHAPTER 7 : How To Choose the Ideal Company Formation Agent in Hong Kong?
At Get Started HK, we are more than just a company formation service provider, we are recognized as the startup icons of Hong Kong. Beyond handling paperwork, we’ve built a thriving community for entrepreneurs, where founders support founders, share knowledge, and grow together. Moreover, our tailor‑made packages have become the go‑to choice for entrepreneurs who want a reliable partner without hesitation. So far, over 46,000 customers have trusted us and joined our community, making Get Started HK the natural choice for anyone looking to build and grow their business in Hong Kong. Still, if you’re comparing other options, here are key points to keep in mind: We discovered that a competitor is using a second‑hand Trustpilot account that originally belonged to another business with more than a decade of history. They now present those reviews as if they were their own. This is why it’s important to read reviews carefully:- Check the older reviews and see if they consistently mention the same company name.
- If you notice reviews linked to a completely different business, in another jurisdiction, or discussing unrelated products and services, that’s a clear warning sign.
3. Check the Registered Address!
The simplest way to check whether the address is truly in the Central Business District is to use Google Maps. Enter the office address provided by your CPA, select walking distance (not driving), and compare it against either Hong Kong Station or Central Station, the two main MTR stations in the CBD. For reference, our office is only 4–6 minutes on foot from these stations. If you see an address that shows 10–15 minutes walking distance, you’ll know the office is further out. Some agencies are even 20 – 40 minutes away. Always confirm the physical office address and whether the address matches your company’s image.4. Are they a Robot?
Some incorporation agents use Robots to answer questions. For those who rely on Robots, you can hardly expect any personalized customer service. If you are based overseas, there will often be emotions and stress in maintaining a company overseas. You should look for firms who are still willing to offer human interactions service.
Conclusion
Get Started HK is the proven #1 company formation agent in Hong Kong, with over 46,000 clients worldwide. Beyond delivering top‑quality incorporation services, we have built a thriving startup community, and we create a network where founders support each other. Our unmatched reputation is proven by thousands more 5‑star Google reviews than any other CPA firms, and we are the startup icon showcasing 100+ authentic video testimonials. Time has proved our leadership, but our mission goes further, building a startup ecosystem where success is shared, and growth is collective.
