Sign In | Join Free | My
Search by Category
Home > Spa Supplies >

Easy Bank Account Opening Company Formation Services Private Company Limited

Categories Company Formation Services
Brand Name: WorldVillage
Model Number: Customized
Certification: Experienced, Professional, Trustful
Place of Origin: HongKong
MOQ: 1 pcs
Price: 99-299usd/day
Payment Terms: TT/ PayPal /Western Union/ Negotiable
Supply Ability: VIP Customized service
Delivery Time: Immdiately
Packaging Details: Professional, Reliable, Trustful, Responsible
Language: English,Chinese,Mandarine,Cantonese,Spanish,French
Service: Corporate Bank Account service
Private sourcing agent: easy bank account opening
One stop service in China: Private company limited by Shares
strategic sourcing: Hong kong expat guide for business
  • Haven't found right suppliers
  • Our buyer assistants can help you find the most suitable, 100% reliable suppliers from China.
  • And this service is free of charge.
  • we have buyer assistants who speak English, French, Spanish......and we are ready to help you anytime!
  • Submit Buying Request
    • Product Details
    • Company Profile

    Easy Bank Account Opening Company Formation Services Private Company Limited

    Easy Bank Account Opening Company Formation Services Private Company Limited

    The guide of incorporation, tax, employment, and dispute resolution in Hong Kong for Expats.

    The brief guide of relocation and doing business in Hong Kong for expatriate entrepreneur. It has all the essential information you need to know to launch a startup in Hong Kong.

    Further comprehensive guide covering Hong Kong business registration, incorporation, taxation, accounting, immigration, business licensing and employment, please feel free to take a look at our Guide to Hong Kong.


    Fact at a glance

    • Population: 7.2 million
    • Official Languages: English and Traditional Chinese
    • Dialect: English, Cantonese and Mandarin
    • Time zone: GMT+8
    • Currency: Hong Kong dollar
    • Climate: Subtropical weather with long, usually humid and hot summers (May to September) and mild cold winters

    Political Environment

    Since 1 July 1997, the Hong Kong Special Administrative Region (HKSAR) was established. On the same day, the People’s Republic of China (PRC) resumed its sovereignty over Hong Kong after a hundred year of British colonial era.

    Prescribed on The Basic Law, the constitution of Hong Kong, HKSAR retains its political, social, commercial and legal systems for 50 years after sovereignty handover to PRC, and will enjoy a high degree of autonomy, free market and trade system (capitalist economy) that supports Hong Kong to be a renowned international financial hub, free port and city of doing business.

    Reference: History of Legislature

    Legal System

    English common law and rules of equity are the backbone of HKSAR legal system, they are strictly adherence to the principles of the rule of law and independence of the judiciary. With a very few exceptions, the legal system are maintained after handover to PRC.

    Reference: Legal System in Hong Kong


    Hong Kong adopts capitalist economic system and retains its operation of a free enterprise and free trade market as prescribed in The Basic Law, it can be illustrated by minimal government interference in all the sectors, and small number of duties and tariffs on import and exporting of goods and services.

    For freedom of enterprise, no exchange control is imposed so companies and individuals are allowed to import or export at their own discretion, and flow of capital is free as dividends and profits derived from business in Hong Kong are allowed for free conversion and remittance to foreign currency and territories. Moreover, no taxation is imposed on dividends.

    Reference: Hong Kong Economic Trends


    The freedom of doing business in Hong Kong is made by its generally lack of restrictions on investment and time-to-time stimulus program to encourage investment.

    The simple and low taxation regime, effective and clean government and workforce in HKSAR provides a pro-investment climate for both local and oversea investors to venture their business in the city.

    Reference: Doing Business in Hong Kong

    Finance and banking

    Since 1983, Hong Kong dollar has been pegged to US dollar at a rate of HK$7.8 to US$1 and trading in average between HK$7.75 and HK$7.85 to US$1 nowadays.

    This linked exchange rate is backed by the Exchange Fund holding foreign assets valued at HK$2700 billion in January 2015 for stabilization. The fund is managed by Hong Kong Monetary Authority (HKMA), the de-facto central government bank of Hong Kong. Since the absence of a official central bank, there are 3 banknote issuing banks in Hong Hong – HSBC, Standard Chartered Bank and Bank of China.

    The stock exchange in Hong Kong has been developed to serve the not only local but also international market. The Hong Kong Stock Exchange (HKEx) is Asia’s 2nd largest stock exchange in terms of market capitalization, and the 6th largest worldwide.


    Hong Kong monetary and banking stability – key functions of Hong Kong Monetary Authority (HKMA)

    Operator of Hong Kong stocks exchange market – Hong Kong Exchanges and Clearing Limited (HKEx)

    International Relationships

    As prescribed in the Basic Law, Hong Kong possesses high degree of autonomy especially in conducting its external commercial relations: conclude and implement bilateral or multilateral trade agreements with foreign territories and international organizations. For example: Hong Kong is a founding member of the World Trade Organization (WTO) and is also a member of the Asia-Pacific Economic Co-operation (APEC) forum.


    HKSAR is a member of WTO

    HKSAR is a member of APEC

    PRC Relationships

    The unique historical background of Hong Kong as a trade port between businesses in Mainland China and the worldwide and its adjacency to Mainland China make the unique relationship with the PRC – agateway of businesses between PRC and the world. A huge part of the PRC’s inbound investment takes the route via Hong Kong, while PRC is one of HKSAR’s largest trading partners.

    The deep and close business co-operation and integration between Hong Kong and the PRC offer huge business opportunities to the businesses in Hong Kong as well as overseas entrepreneur. The signing ofthe Closer Economic Partnership Arrangement (CEPA) was the first and major free trade agreement between PRC and Hong Kong which opened up huge opportunities for Hong Kong businesses by allowing Hong Kong goods and services to gain greater access to the PRC market. Meanwhile, CEPA can also be beneficial to PRC since Hong Kong serves as a benchmark of global standard to show PRC businesses to enter global market, a important step to promote PRC integration with the global economy. For oversea entrepreneur, establishment of businesses in Hong Kong is the best business vehicle to utilize the CEPA benefits and stepping stone to access the vast opportunities that the PRC market offers.

    The market of offshore renminbi (RMB) businesses is growing rapidly, Hong Kong possesses the world-class financial infrastructure to make it an international financial hub as well as the pioneer in this field – the first offshore RMB market to launch RMB related financial services since 2004. A growing variety of offshore RMB products and services have been launched in Hong Kong since the demands of local and overseas entrepreneur and financial institutions. Both investors in Hong Kong and Mainland China are beneficial to positive development of offshore RMB trade and more business opportunities.

    Launched on 17 November 2014, Shanghai – Hong Kong Stock Connect is first and ever cross-boundary investment channel that connects the Shanghai Stock Exchange and the Hong Kong Stock Exchange (HKEx). Under the program, investors in each market are able to trade shares on the other market using their local brokers and clearing houses.


    Introduction of Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA)

    Renminbi (RMB) Business in Hong Kong as International Financial Centre

    Shanghai – Hong Kong Stock Connect


    Companies Ordinance (CO) is a laws to rule companies in Hong Kong. The old Companies Ordinance (Old CO) underwent a rewriting exercise commencing from 2006. As a result of the rewriting exercise, the new Companies Ordinance (new CO) became effective on 3 March 2014. The new CO aims to achieve four main objectives, to enhance corporate governance, ensure better regulations, facilitate business and modernize the law. Various major initiatives have been introduced under the CO for achieving the four main objectives such as abolition of par value for shares, abolition of memorandum of association, allowing companies to dispense with annual general meetings and making the keeping and using of a common seal optional etc.

    Feel free to contact us for the updates on CO.

    Reference: New Companies Ordinance of Hong Kong

    Types of Business Vehicle

    For oversea entrepreneur to carry on business in Hong Kong, the most commonly considered carriers are as follows:

    • “Private Company Limited by Shares” incorporated in HKSAR
    • “Non-Hong Kong company” incorporated in HKSAR representing a foreign company as “branch in Hong Kong:
    • “Representative Office” (or liaison office) of a foreign company (Important: this is an unincorporated body)

    For reference, sole proprietorship, partnership (including limited partnership) are unincorporated bodythus they are but very rare for carrying business from oversea. We have an article to tell the details of all above “carriers”.

    A frequently asked question by our customer: “Can I setup a branch office in Hong Kong?” Technically, a foreign company is impossible to setup a “branch” since “branch” is a legal entity as an extension of present and brand name of an existing local business. We have a comparison between Hong Kong company and representative office as well as “branch”.

    Reference: Company Registry – Authority of Hong Kong and non-Hong Kong companies registration and regulation

    Business Registration

    By the law (Company Registration Ordinance), any person (including companies and individuals) who are the principle operator of a business must obtain a Business Registration Certificate from Inland Revenue Department (IRD) within one month of commencing business for its principle office address in Hong Kong as well as its intended business nature.

    Business Registration Certification (BRC) does not serve as a license to run the owner’s intended business in Hong Kong, the owner must obtain specific license in some restricted industries after the obtaining BRC.

    For oversea entrepreneur, they are not required to be a Hong Kong resident, nor be a Chinese national to complete this business registration. They should age 18 or above. However, they should obtain the suitable VISA / Entry Permit that allow them to commence business in Hong Kong, the Visit VISA holder (i.e. non-Hong Kong resident as a visitor to Hong Kong) are not allowed to establish or join in any business in Hong Kong and thus the holders cannot complete the Business Registration. The solution is to utilize the business vehicles that have separate legal entity – Private company limited by shares incorporated in HKSAR or non-Hong Kong Company (i.e. representative office)

    It is because the One-stop Company and Business Registration Service, jointly launched by the IRD and Companies Registry (CR), serves any person who applies for incorporation of a Hong Kong company and/or non-Hong Kong company at CR is deemed to be made an application for business registration simultaneously. Since the incorporation process does not require the physical presence of the applicant in Hong Kong, nor the applicant must be a Hong Kong resident and Chinese nationals. The successful incorporation means the successful business registration at the same moment, before the business commencement.


    Inland Revenue Department – Authority of Business Registration in Hong Kong and Everything of Taxation

    Business Registration Office in Inland Revenue Department of HKSAR Government

    Sample of Business Registration Certification

    One-stop Company and Business Registration and One-stop Notification of Change of Company Particulars

    “Business” Required to be Registered and Application for Business Registration in Hong Kong

    General Business Related Activities allowed for Hong Kong Visit VISA holders

    Restricted Industries

    Certain businesses may require a specific license of other consent of the authority to before their commencement in Hong Kong. Some of these businesses include the following:

    • Financial Institutions
    • Telecommunication
    • Broadcasting radio and television
    • Catering and restaurants
    • Travel agencies
    • Employment agencies
    • Real Estate agencies


    It is the most popular business vehicles in Hong Kong, almost 1.2 million of local companies and nearly 10 thousands of non-Hong Kong companies that have remained registered in CR until February 2014. Local companies can be classified as the following:

    • Public company (most of them are listed on The Stock Exchange of Hong Kong Limited – HKEx – subjected to additional compliance, a discussion of which is beyond the scope of this guide).
    • Private company limited by shares
    • Private company limited by guarantee (usually set up by non-profit organizations)

    Over 98% of local companies are incorporated in a form of Private Company Limited by Shares, which is characterized in the following form:

    • The liability of each shareholder is limited to the amount (if any) unpaid on the shares held by that shareholder.
    • The rights of shares transfer is restricted by its constitution.
    • Number of shareholders are capped at 50 persons (both individual and corporate shareholders inclusive).
    • Any invitation to the public to subscribe for any shares or debentures of the company is prohibited.


    Companies Registry (CR) is the only government authority to process the companies registration and their compliance in Hong Kong. Every application is submitted to this body with the required document as follows:

    • A copy of the new company The Articles of Association (it serves as the new company’s regulatory constitution between shareholders and the company)
    • A completed CR’s incorporation form bearing information about particular of principle directors, company secretary (must be either a local individual or company) and founder members (i.e. shareholders), arrangement of share capital, and a Hong Kong address as registered office
    • A completed form of Notice to Business Registration Office (#)
    • Government fee and levy

    Remark #: In February 2011, the launch of Inland Revenue Department One-stoop company and business registration help to speed up process of incorporation. When the application is submitted to CR, a simultaneous application for Business Registration (handled by IRD) is deemed to be made, so the Notice must be submitted together.

    The incorporation process does not required the present of any directors or shareholders to be physically present in Hong Kong. Submission through local agent is allowed. However, company secretary and registered office address by be present in Hong Kong.

    The application processing usually takes 1 week. Upon the approval of an incorporation by CR, the Certificate of Incorporation certifying the company name and date of incorporation of the company is issued by CR, while the Business Registration Certificate certifying the company’s registration of doing business in Hong Kong and its expiry date is issued by IRD. Collection of both document can also be done via local agent.

    To further speed up the incorporation process, the application can be submitted electronically via CR e-Registry service which is a 24-hour web portal, the approval can be done as fast as 2 hours, and the Certificate of Incorporation and Business Registration Certificate are delivered electronically as well.

    Online Hong Kong companies registration (provided by Companies Registry) is now available here.


    Frequently Asked Questions of Incorporation in Hong Kong – CR

    Incorporation of a Hong Kong (local) Limited Company – CR

    Company Name

    The first rule of naming your company is that no two company names in the companies registrar are identical, free company name search on CR’s website to check if the proposed names are already in use is a must. There are also regulation on the use of certain restricted words that are related to government authorities and public interests. CR does not offer company name reservation in advance. A company may register either a English Name, a Traditional Chinese Name, or both, no other language is allowed. The word “Limited”/”Ltd” or “Company Limited”/”Co Ltd” must be shown on the suffix.

    Reference: Companies Registry Companies Name Search by Cyber Search Centre

    Share Capital

    No restriction on the maximum and minimum amount of share capital for any type of Hong Kong companies is prescribed in Hong Kong companies law. All of the share capital must be classified intodifferent classes of shares with special rights attached to each of them. The class of shares and their attached rights must be prescribed on the company’s Articles of Association which is submitted to to CR during incorporation. The common classes of shares are Ordinary Shares, Preference Shares of Deferred Shares.

    Shareholders (Founder members)

    The maximum number of shareholder is 50 persons (individuals or corporates) regardless of their nationality or place of incorporation. However, one of the shareholders named as principle shareholder must submit whose particular to the CR and exposed to the public record.


    Although either individuals (must aged at least 18) or corporates can act as director of a company, at least one of the directors must be natural person. No restriction on nationality, place of incorporation, domicile and residence of directors, except that no corporate director is allowed when a private company which is a member of a group of companies of which a listed company is a member.

    The latest particular of directors must be submitted to CR and exposed to the public record, the record must be kept updated in case of any change.

    The directors are responsible to attend annual general meeting, CO poses no restriction on where and when the meetings be held, oversea entrepreneur prefers meetings by telephone as well as video conference technology to save time and cost in traveling. A written resolution which is provided by the companies’ constitution signed by all directors is as valid as if the resolution had been passed at a meeting.

    Company Secretary

    Every company incorporated in Hong Kong must have and maintain at least one statutory Company Secretary (Note: this position is not the same as the administrative assistance to management staff) which is either an Hong Kong resident who aged 18 or above or another Hong Kong company. For oversea startup which usually utilize a Hong Kong company with sole director, please be reminded that the sole director of a Hong Kong company is not allowed to take up the position of company secretary of this company at the same time. The particular of the company secretary are exposed to public like that of the director.

    The company secretary’s statutory duties are to maintain the company’s statutory records including the registers of directors and shareholders, arrangement of and minutes of directors’ and shareholders’ meetings and the certificate books, and to prepare the documents which have to be filed on public record in CR.

    Since the position of companies secretary requires knowledge in Hong Kong companies law, it is often that the oversea entrepreneur hire local firm to handle those secretarial works.

    Registered Office

    Every company incorporated in Hong Kong must have and maintain a registered office address in Hong Kong which act as the legal communication address and to be exposed to the public. This address can be the same as or different from the company’s address for doing business. For privacy protection, entrepreneur often rent this address from business center.

    Accounts and Annual Auditing

    Except for those companies entitled to audit and accounts reporting exemption, Hong Kong companies must prepare for and keep “proper” books of accounts and financial statements to provide a true and fair view of the companies’ financial position and performance to the interested party.

    Companies’ accounts must be audited and signed by Hong Kong Certified Public Accountant (CPA) per every accounting year and submit the audited accounts to Hong Kong Inland Revenue Department in prior to the prescribed deadline on notice of tax return to the companies.

    The submitted accounts of a private company are not published or filed on any public record.

    Reference: Profit Tax Returns for Corporate – Inland Revenue Department

    Annual Filing Requirements

    In addition to obligation of maintaining the updated records of companies particular in CR (i.e. updates CR for any of changes such as alternation of Articles of Association, company name, registered office address, etc), Hong Kong companies are also required to file an Annual Return to CR which shows the most updated particulars of the companies. In other word, the fill in incorporation form again with the latest information and pay the incorporation renewal fee and levy accordingly.

    Reference: Annual Returns Requirement of Hong Kong Limited Companies

    Business Registration and Renewal

    The initial Business Registration is deemed to be made when incorporation applicants submit their incorporation documents to CR. For renewal, the applicants need to deal with IRD separately before the prescribed deadline shown on IRD demand note.

    Reference: Renewal of Business Registration – Inland Revenue Department


    De-facto branch of oversea corporates in Hong Kong

    Overseas corporations (i.e. the body corporate incorporated outside Hong Kong) are allowed to establish “a place of business” in Hong Kong to perform business activities and thus profit-making. These oversea corporates are required to register such offices as “Non-Hong Kong companies” in CR withing one month after the “place of business” is established.

    The most important differentiation between non-Hong Kong companies and local companies by Hong Kong law is that an non-Hong Kong company is not a separate legal entity from its oversea owner, this entity is deemed as an “oversea brand office in Hong Kong” of its owing oversea company to carry on business in “a place of business” in Hong Kong physical address, this branch must use the same business name of its oversea owner who also bears full control and liability of this branch when it is carry on business in Hong Kong.

    In general, local companies (companies incorporated in Hong Kong) and non-Hong Kong companies are subjected to the same statutory filing requirement and taxation consequences in the matter of Hong Kong laws.

    Reference: Registration of a Non-Hong Kong Company in Hong Kong- CR

    Registration, Accounts, Annual Filing

    Companies Registry is the authority to handle the registration, while Business Registration Office under Inland Revenue Department is the authority to handle the business registration of Non-Hong Kong Company.

    The oversea corporations are required to authorize at least one local representative of a non-Hong Kong company who must be either a local residential individual or a Hong Kong company. The statutory duties of this representative is similar to that of Company Secretary in a local company.

    In addition to application form of formation and business registration, Hong Kong authorities requires document of the oversea company includes the certified copy of Articles of Association (or its equivalent), a certified copy of Certificate of Incorporation (or its equivalent), and a certified copy of the latest audited accounts prepared under accounting requirement in the oversea jurisdiction of incorporation.

    Except certain incorporation laws or laws of stock exchange in some jurisdictions, oversea companies are required to file a copy of its latest published accounts on public record of CR on registration as well as the annual renewal of the Non-Hong Kong Companies. This filing basis is also applied to the incorporation particular of the oversea companies.

    Alike local companies, any updates on the oversea companies particular related to its incorporation have to be filed to CR immediately.



    In the matter of Hong Kong laws, oversea corporations who do not have the need to handle any profit-making activities and capital raising transaction in Hong Kong are allow to engage in certain business-related activities in Hong Kong. In such a case, a business entity named Representative Office(sometimes it is known as Liaison Office) in Hong Kong representing this oversea corporations is appropriate.

    Representative Office is not an incorporated body – the fundamental difference between local companies and non-Hong Kong companies.

    Technically, Representative Office must not transact any business in Hong Kong which creates any legal obligations (unable to make any transaction that generate profit within the taxation regime in Hong Kong). It is allowed to engage in activities such as entering into usual arrangements with utility companies; with landlords (in respect of the lease of its office premises); and with its employees. As a result, its functions is limited to acting as a liaison office between the corporation and the corporation’s offices elsewhere and introducing Hong Kong customers to those offices.

    Reference: “Business Registration Certification” is needed to run Representative Office


    Registration of representative office is not handled by Companies Registry, its registration requirement is to obtain a Business Registration Certification handled by Business Registration Office of Inland Revenue Department (IRD).

    The business name of the Representative Office must be the same of its oversea corporations. An ongoing local office address and the particular of a local residing individuals act as “manager” of this office must be submitted for registration.

    Annual Filing

    Since Representative Office must not generate profit within the scope of Hong Kong taxation, the officeMAY apply to the IRD for exemption from filing Profit Tax Returns on the ground that the office does not carry on business in Hong Kong.

    In practice, the office can fill the return on a “NIL Profit Tax Return” basis for less workload but the same effect.


    Unincorporated business entities (i.e Sole Proprietorships and Partnerships) are never an appropriate vehicle for oversea entrepreneur carrying business in Hong Kong because they are not a separate legal entity, all its debts and liabilities are the personal responsibility of the owners, and the entities itself does not have continual existence.

    The only step of its registration is to obtain a valid Business Registration Certification from Business Registration office in Inland Revenue Departmentwithin 1 month after the commencement of the business.


    Business Registration for Business in Hong Kong

    Sole Proprietorship

    For sole oversea entrepreneur without valid Hong Kong residence statue or Hong Kong Employment / Business VISA, registration of Sole Proprietorship is almost impossible since they are not allow to work and engage in direct business activities and thus cannot provide proof of business commencement in Hong Kong for its registration.

    Buy Easy Bank Account Opening Company Formation Services Private Company Limited at wholesale prices
    Send your message to this supplier
    To: WorldVillage Intl Co.,Limited
    Characters Remaining: (0/3000)
    Find Similar Products By Category:
    Inquiry Cart 0