Room 602 & 604, 6/F., Taurus Building
21A/B Granville Road, Tsimshatsui, Hong Kong
Tel: (852)27399698  Fax: (852)27399313
Email: vc@vcpa.com.hk
  Certified  Public  Accountants (Practising)  
 

Company Formation


The frequently asked questions for company formation in Hong Kong are as follows. Please call us at (852)27399698 for more information.
  1. How many types of company are there in Hong Kong?
  2. What is the minimum capital of a limited company?
  3. What is the qualification of director and shareholder?
  4. Is a Hong Kong registered office required for a limited company?
  5. Is a company secretary required for a limited company?
  6. How long will it take to incorporate a limited company?
  7. What will I get after the incorporation?
  8. What is the minimum number of director and shareholder?





1. How many types of company are there in Hong Kong?

Basically, there are three types of business organization :
  1. sole proprietorship
  2. partnership
  3. limited company
The owner of a sole proprietorship takes all the profits and bears all the risks. His/her liability is unlimited for the debts of the business. In a partnership, there are at least two persons enter into an agreement and operate their business as a partnership. The partners are jointly and severally liable for the debts. Both of the two business organizations require to apply for the business registration certificate issued by the Business Registration Office.

A limited company is a separate legal entity and should be registered under the Companies Ordinance. The liabilities of shareholders are limited to the registered share capital. According to the Companies Ordinance, a limited company is required to prepare audited accounts.

 


2. What is the minimum capital of a limited company?

There is no statutory minimum capital requirement in Hong Kong. In practice, the issued share capital could be as low as HK$1.

 


3. What is the qualification of director and shareholder?

The directors and shareholders of a limited company need not be Hong Kong residents. Only persons who have attained the age of 18 can be appointed as directors. A body corporate (other than a listed company) can act as a director of a company.

 


4. Is a Hong Kong registered office required for a limited company?

Yes. Every company incorporated must notify the Registrar of Companies of the situation of its Hong Kong registered office and any change within 14 days after the date of incorporation of the company or of the change.

 


5. Is a company secretary required for a limited company?

Yes. Every company incorporated in Hong Kong must have a Secretary. The secretary must be a Hong Kong resident or a body corporate having its registered office in Hong Kong. However, a sole director of a limited company shall not also be the secretary of the company.

 


6. How long will it take to incorporate a limited company?

It takes about 5 days to found a new limited company. For a shelf company (ready-made company), it takes about 1 to 2 days.

 


7. What will I get after the incorporation?

After the incorporation, you will get:
  1. one set company kit including
    • Share certificate
    • Articles of Association
    • 1 common seal
    • 2 rubber stamps
    • 1 statutory book (including register of directors & members)
  2. Minutes of first directors meeting
  3. Certificate of incorporation issued by the Companies Registry
  4. Business registration certificate issued by the Inland Revenue Department
  5. Statutory forms filing to the Companies Registry

 


8. What is the minimum number of director and shareholder?

According to the Companies (Amendment) Ordinance 2003 which became operative on 13 February 2004, it permits the formation of a limited company by one or more shareholders. It also permits a limited company to have at least one director.



| Firm profile | Services | Newsletters | Tax deadlines |
| Tax questions | Other links | Contact us |


 
K. Y. CHAN & CO.
Hong Kong CPA
Room 602 & 604, 6/F., Taurus Building
21A/B Granville Road
Tsimshatsui
Hong Kong

Tel: (852)27399698
Fax: (852)27399313
Email: vc@vcpa.com.hk