Small business setup in Hong Kong
As an international business hub with a strong financial center, Hong Kong offers promising opportunities in finance, trade, and services for small businesses. We specialize in supporting both start-up companies and those looking to expand. Our knowledge of the local market and expertise in company formation allow us to help you navigate the necessary documentation and procedures to establish your small enterprise in Hong Kong. Let’s explore the benefits of starting a small business in Hong Kong and how our tailored solutions can enhance your success.
Formalities and procedure
Registering a small enterprise in Hong Kong can be done in a few weeks through a series of steps.
Choose a business name
The name of the business must be original and not currently being used. You can verify if a name is available by visiting the Hong Kong Trade Registry’s website.
Select legal entity type
Choosing the right legal structure is crucial for the prosperity of your small business. We offer expert advice on Unlimited Company, Company Limited by Shares, Non-Hong Kong company (Branch Office), and Holding Company to assist you in making a well-informed decision that suits your specific needs and future goals.
Set up legal address
It is crucial to have a valid address when establishing a business, as this is where government agencies, legal authorities, and important business communication will be directed. Selecting a legal address that complies with local regulations and fits the needs of your business is crucial.
Get the necessary paperwork ready
Our team of specialists will assist you in developing detailed and tailored documentation specific to your company’s structure and objectives. We ensure compliance with all legal regulations and will manage the filing process on your behalf.
Open a bank account
Starting a business in Hong Kong necessitates having a corporate bank account. We will guide you through this procedure, making sure you adhere to the rules and aiding you in establishing a bank account with a well-respected financial organization in Hong Kong for your small business dealings.
Company registration
We take care of the registration process with entities such as the Trade and Companies Register and tax authorities, freeing you from the administrative responsibilities. This ensures that your small business is properly recognized and meets legal requirements from the beginning.
Setup accounting
In order to effectively start a small business, it is crucial to keep precise financial records. Our accounting specialists can assist in creating efficient accounting and bookkeeping procedures that adhere to the regulations in Hong Kong.
Small business examples
Small businesses can be found in various industries and sectors, each with their own unique requirements. The following are examples of small businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Hong Kong
Hong Kong is an appealing place for establishing small businesses, providing a variety of benefits:
Strategic location
Hong Kong’s reputation as a global business hub with a strong financial sector draws in companies in finance, trade, and services. Its prime location, competitive taxes, and open-market economy offer a range of benefits for businesses aiming to access the Asian market.
Favorable tax regime
Hong Kong operates on a territorial tax system, which means that only income generated from within Hong Kong is liable for corporate income tax. The tax rate is a flat 16.5%, with no capital gains tax. Hong Kong is a prominent financial center and serves as an entry point to the Chinese market.
Banking
Hong Kong’s status as an international banking hub offers a variety of financial services, global connections, and investment prospects, making it an appealing choice for individuals looking for a prominent financial center.
Our small business setup solutions
We acknowledge the significance of your time and resources. This is why we offer two convenient choices to make the company formation process easier.
Business formation online
Through the online platform offered by Hong Kong, individuals can start and finalize the process of setting up a business from any location worldwide. Being able to oversee the progress, upload necessary documents, and access our services via secure digital platforms guarantees a hassle-free and user-friendly experience.
Business formation remotely
If you would rather not deal with the paperwork, we can take care of it all for you. Our knowledgeable team will handle all the necessary documents, fill out the required forms, and communicate with the appropriate personnel to ensure your peace of mind.
Contact us today and launch your small business success
Get in touch today to schedule a consultation and begin pursuing your business goals. Let’s embark on this journey together.