Three Things You Must Get Right When Starting a Business in Hong Kong

Are you anticipating taking your enterprise abroad? The success you can get depends on the jurisdiction that you select. About 100-50 years ago, the best investment destination was Europe and America. This narrative has changed over the years as jurisdictions reposition themselves to support emerging enterprises. One special jurisdiction to consider is Hong Kong.

It has become an irresistible attraction because of its strategic location and diverse culture. You will be surprised to realize that though the local languages are common, most enterprises are multinationals and transact their enterprises in English.

The government is also very supportive while the market has been growing from strength to strength. Therefore, your decision to take the business to Hong Kong provides the assurance of funds availability and faster growth. To grow your business even faster, here are additional three things you must get right.

You need to register a limited liability company

The first crucial thing that you need to get right is the business registration. In Hong Kong, the recommended outfit for offshore enterprises is a limited liability company. The process of registration and requirements are outlined in the Companies Ordinance.

The good thing about this requirement is that you do not have to fly all the way to Hong Kong. You can simply contract a company incorporation agency to help with the registration process. The agencies are run by experts who will help you craft top-notch documents within a very short time.  You only need to select the right agency and send all the documents for the process to start immediately.

The company must have a resident secretary

Every company operating in Hong Kong is expected to have a resident secretary. The Company’s Ordinance considers the company secretary as the main link between the company and the administration. The secretary is the custodian of all the legal documents for the company and to produce them or checking by government agencies. While picking a company secretary can be a huge task, you probably don’t have to follow that route. There is a better option.

The agency allowed to help businesses register in Hong Kong can also serve as your secretary. The agency is also allowed to use its offices to serve as company addresses. This implies that once you get a good agency, you no longer need to place a lot of ads on the dailies or hop from skyscraper to another looking for an office. 

The investor must demonstrate the company structure

Before your certificate of incorporation can be granted, you are required to provide the structure of the business. The Hong Kong administration wants to know the nature of the business you target starting in Hong Kong and gauge its suitability.

By providing a clear business structure, the Hong Kong administration can tell from that early stage whether additional support is needed and even plan for additional logistics. The secret is to ensure that your business proposition is clear and easy to identify with.