Company formation in Hong Kong is a complicated process. In the traditional Chinese method, there were three parties in the registration process: the lawyer, the Secretary, and the registering person (the agent). But in modern-day Hong Kong company formation, the leading players in the registration are the following: the register, the company secretary, and the company’s agent. The company secretary is responsible for answering any questions about the formation and registering for the document signing.
Most Hong Kong company formation services make use of the ‘one agent per company’ rule. It means that a company name with more than one agent will not be registered in Hong Kong. Companies will usually register in Hong Kong under one or two directors’ names and then one or two company secretaries. When conducting company name registration in Hong Kong company formation services, the following minimum number of people should be involved: the company secretary/registered agent, one director, and two company secretaries.
Forming a Limited Liability Company (LLC) is mandatory in most instances in Hong Kong. To proceed with the Limited Liability Company formation, you must appoint a company secretary or a director. When selecting a company secretary or a director, it is essential to note that there is no minimum limit on the number of directors appointed. It means that you are free to have as many significant controllers register under your company name as you wish.
A register is usually maintained at the Secretary’s office to the Companies (SCC), Government Departments of Business and Trade (GDP); all company information is kept. The SCC also maintains the Register of Effectiveness of Public Offices (ROMEO). The minimum number of shareholders who can be registered in a Limited Liability Company is two. It is important to note that the two shareholders must be from the same family and not be relatives.
Once you have a registered company, all its activities are supervised by the Board of Directors. It also includes the main office and the registered office in the country.
Companies usually provide their registered office with a post office box. For these companies, the Registered Address of the company secretary is the best address to be used as the contact point. This address must be submitted along with the application forms.
These include the full name of the shareholder, his contact details, and his annual salary. All the shareholders will need to provide the statutory authorized information on its annual income and tax rate. The tax rates and official statutory information are mandatory requirements that must be met by the company before it can become a registered agent for tax purposes in Hong Kong. In case there are any additions or changes to this information, the company secretary has the power to make these corrections and resubmit the application.
Company Formation Services in Hong Kong also provides the necessary assistance to register the new company shareholders. They help in completing the Articles of Association and the lodged company seal. The company secretary also has the power to add the shareholders of the new company. Once all these procedures are completed, all that remains is to issue the document and enjoy a dynamic stock market’s benefits.