The businessman is given the option to pick the type of responsibility for recently opened venture. The most widely recognized among them are:
- Individual endeavor;
- Commercial organization;
- Private restricted responsibility organization. The most mainstream is the last type of business association.
Basic requirements for registration in Hong Kong
A bunch of prerequisites for a business undertaking in Hong Kong:
- Choosing of the name of the organization;
- Legal address;
- Secretary is an obligatory individual in each organization;
- Authorized capital;
- Taxation framework;
- Public data to be posted;
- Financial proclamations.
Title of the enterprise
The name of an endeavor enrolled in Hong Kong fundamentally incorporates a condensing for the hierarchical and authoritative document. For instance, for a simple LLC, it will be LLC (Limited Liability Company), and for an Open Joint Stock Company – Limited by shares.
While enrolling an organization in Hong Kong, it ought to be noticed that nearby enactment avoids from organization names a fairly enormous number of words that can’t be utilized: “Trust”, “Office of Commerce”, “Department”, “Agreeable”, “Government” – they need earlier endorsement chief, who should consistently be a resident of the PRC.
Words and expressions: “Bank” or “Stock Exchange” should mirror the genuine extent of acts of the enrolled organization.
Enrollment of a Hong Kong organization permits the task of names in English, Chinese or English and Chinese dialects, copying each other in significance.
Blending of Chinese and English words in the name is permitted. Names that are hostile (revolting), according to the perspective of the Chinese language, character or as opposed to the interests of the state, are not dependent upon enlistment.
Additionally, prior to enrolling an organization in Hong Kong, all names are checked for character with existing organizations working together in Hong Kong.
Founder of the enterprise
There are no requirements for the residency of the director in Hong Kong. It can be a citizen or resident of any country.
Enlistment of an organization in Hong Kong requires a secretary, as this is an obligatory individual in the design of the organization.
Just a Chinese public can be a secretary. An individual is fundamentally a resident of Hong Kong at any rate 18 years of age, or a legitimate element is a particular organization enrolled distinctly in the managerial district of Hong Kong. Consolidating the elements of the overall chief with the elements of the secretary isn’t permitted.
The secretary is answerable for the organization’s bookkeeping and outer relations with the administrative specialists.
Hong Kong has a breaking point on the quantity of investors in a LLC. There can be from one to fifty.
In the event that the quantity of investors is more than fifty, the organization is re-enlisted as a business entity. In contrast to the chief and secretary, there are no exacting citizenship prerequisites for investors.
They can be outsiders or nearby inhabitants, investment of neighborhood and unfamiliar capital of any extent is permitted. There are no prerequisites for the strategy for holding gatherings of LLC investors. They can occur in any country on the planet.
Hong Kong LLC is described by the presence of two sorts of approved capital:
The authorized capital – it has no size limit, yet normally begins from 10,000 HKD and is partitioned into shares worth 1 HKD. Investors can increment or decline its size whenever. It is possible to do this after enlistment and installment of assessment in the measure of 0.1% of the sum surpassing 10,000 HKD.
There are charge limitations. Despite the expanded offer capital, the assessment can’t surpass 30,000 HKD.
The base gave capital is one offer in divisions of 1 HKD, which is openly adaptable starting with one investor then onto the next.
The offer capital is settled up in any money convertible to HKD. On the records of the organization, both mono and blended monetary standards can be put away. Move of offers starting with one investor then onto the next is liable to stamp obligation.
A fundamental condition is the restriction on the issue of unknown conveyor shares.
Data pretty much all individuals from the organization in Hong Kong is public. Data about chiefs, secretary and investors should be given to Company Registrar – the Registrar of Companies.
This doesn’t block the protection of the classification and namelessness of investors or chiefs. For this, it is feasible to name “candidates” through specific law offices.
Just the organization secretary can’t be chosen one. On the other hand, you might be offered a rack organization in Hong Kong that is as of now enlisted. For this situation, the divulgence of data about people – proprietors can be kept away from.
Tax collection in Hong Kong is 16.5% of evaluated benefits. The current arrangement among Russia and Hong Kong disposes of twofold tax collection.
For Residents working as per Hong Kong laws, there is a yearly documenting of budget reports, which are examined by affirmed evaluators.
For recently opened organizations, an elegance period is accommodated recording an affirmation – no later than year and a half from the date of enlistment.
Ensuing expense forms are documented at regular intervals at the Inland Revenue Department (IRD) – Hong Kong Tax Department. A compulsory enrollment charge is payable when recording a presentation.
Investors’ gatherings ought to likewise be held at customary timespans schedule year. Be that as it may, a postponement in holding gatherings is permitted, which doesn’t surpass a time of 15 months.
Rather than a gathering, it is permitted to present a composed choice endorsed by the chief and the secretary.