A small reminder about Company Incorporation: basic rules and advises for shareholders and directors

Centre O INCORPORATION

A small reminder about Company Incorporation: basic rules and advises for shareholders and directors

There are some basic rules to follow if you are going to create your own business in Hong Kong even if, to do it here, it is easier and faster compared to other countries.

Anybody can form a Hong Kong Limited company.

A limited company is a legal entity made of up directors, secretaries, and shareholders (members).
The director is responsible for the day to day activities of the company.
The secretary is responsible for general government duties such as making sure annual returns are filed on time, notifying when there are any changes of the company, addresses change, etc.
The shareholder owns the company through holding of shares.
Hong Kong limited companies do not require a local shareholder or a director, they can all be living outside Hong Kong.

The minimum is to have one director as the shareholder as well.
A non-Hong Kong resident can be appointed as a director and as shareholder.
Shareholders can be of any nationality, be resident anywhere in the world and meetings can take place everywhere.

The Company Ordinance requires that an individual must be over the age of 18 years old to hold shares in a Hong Kong company limited.
Once a client of ours was opening his company and he would like to make his family an integral part of the business; when he asked us if his children of 3 years old could own some shares in the company, it is not possible to, he can include in the: he can include only his wife in his business but not his child as the child is below 18 years.

A Limited Company is the most commonly-used company type; the owner can take advantage of all the tax benefits and concessions available to any fully incorporated business.
For limited companies incorporated in Hong Kong, the company name must not be the same as a name appearing in the index of company names kept by the Companies Registry.

You may conduct a company name search free of charge before deciding which will be your company ones.

You cannot use a name that is already in use or in the process of being registered. Names already in use can be found in the Hong Kong Company Registry.
If you don’t find your company name in the Registry, it is free to use.

We will be glad to help you, for any inquiries don’t hesitate to contact us!

Please visit our webpage : http://centreo.hk/business_support

 

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