Businessmen around the world are getting serious to know about how to register a company in Hong Kong. In this age of globalization, businesses are no longer confined within any geographical restrictions and Hong Kong is becoming a more popular place for doing business of almost any types. Both Asian and European businessmen along with some other countries have found Hong Kong as the right place to expand their business and take it to the next level. It is obvious that, the businesses need to fulfill some prerequisites in order to form a company in Hong Kong, as like as any other country in the world.
According to the official company formation law of Hong Kong, both public and private limited businesses are allowed to open their branches and continue their business activities. Yet, most of the businesses preferred to start as a public limited company, as this is one of the most flexible options of doing business in Hong Kong. Doing business as a public limited company is a common practice for many businesses around the world, and there are some specific rules and regulations which the businesses must follow while doing business in Hong Kong.
There should be at least one shareholder of the business, who could either be a local Hong Kong residence or a foreigner. There is only one restriction on the age of the shareholder, and he/she must have the age at least 18 years and above. There is no particular limit for the minimum share capital in order to register a company in Kong Kong, and this is another big reason for why both investors and businessmen prefer doing business from Hong Kong. But, there is common practice according to which companies are getting incorporated in Hong Kong with an authorized share capita worth of ten thousand Hong Kong Dollar.
It is compulsory for businesses to have a local address (registered) of Hong Kong, as it is not possible to register a company in Hong Kong just by using any PO Box number. The company must also appoint a company secretary, as it is another prerequisite to register a company in Hong Kong. There is a restriction that none of the shareholder can act as the company secretary as per the rules and regulation. These are some common and general terms, which must be followed by any company to start and doing business in Hong Kong.