Owning a Company in Hong Kong – a Real Creditable Job

Being located at the south- eastern tip of China with a total area of 1104 sq km and with an overwhelming population of 8 million Hong Kong is famous for its culture, business development and much more. It’s a place in China where both English and Chinese are official languages. But here the administration is quite strong and strict enough to handle with the law and order of the city. But the most important thing that is necessary to set up company in Hong Kong is the registration and license that matters the most.

Registration process of a new company in Hong Kong:-

For any company to start with, it’s quite important to have a proper registration and license that will give a proper identification to the business, though the government here does the work quicker, easier and with an affordable online process. The registration process of the company is duly responsible for processing the following applications like that of the incorporation of local companies, registration of non local companies that are from outside or which are owned by the outsider but have an established place to set up the business.

But to set up company in Hong Kong it is necessary to understand and undergo proper channel of the procedure that will help to get the license easily. There are certain organizations who are called one stop company where there is needed is the registration for the entire process. It is under the one- stop company and business registration services where any person can deliver an application for incorporation of a local company or even for a non- local company. These companies will then issue a certificate of registration and even the business registration certificate that will permit you to open the company in the city.

The next important thing that is necessary is the licensing which is related to government permits, license and certificates that is an approval to start the business or the company in the city. To avail the services, it is also possible to go for an online application, but the license depends on what type of company does the individual want to establish. Then is the taxation, where the government task, department will direct you to source the detail information about the profit tax, the tax obligation of the business operators and employers.

If you are enforcing labor in your company, then it is even important to enter the statutory obligations and duties to your employees that include compensations, occupational safety and health conditional charges. When it comes to the law and that too intellectual property rights, it is must to take steps to exploit, protect and manage the IPR to reap the most of commercial values arising from its ownership.

Advantages and disadvantages:-

For every company when established its important to first understand its advantages and disadvantages, so that you can easily recover with the situations or even can be aware of further issues that might happen. While on the way setup company in Hong Kong, it’s also the same to know the advantages and disadvantages. Like these may be an advantage as the city of Hong Kong is the business door of the county China and here at a rate of 16.5 {92645261ac6f7451ba63fa4126a94c819c6bc986afe46127c72ab63f9522a9bc} you can avail the simple taxation with an excellent banking and financial service. The processing for authorization, registration and other government and administration proceedings are quite easy and cheap. At this place a company can get an attractive foreign investor policy with no restriction of ownership and its legal system is highly recognized in other countries across the world. But at the same time there are even disadvantages like it is a compulsion to have a local company secretary, and even is required to file annual returns and audit report, in this city the cost of living is quite high and even have expensive office premises.

But, when even an individual plans have an established business in the city like Hong Kong it is necessary to have the maximum amount of money for investment to avoid further problems.