Company registration in Hong Kong is not mandatory for the following reasons: Creating or owning a business (you can do that in English) Business change or transfer must be done following the law in the individual’s country. Applying for a business loan from a bank in Hong Kong requires a business number. If you plan to open a retail business in Hong Kong, you will have to register a trade with the Chinese Restaurants and Food Business Department. Applying for company registration in Hong Kong does not require a business license or company registration.
Benefits of company registration Hong Kong are many. You have to remember that your company becomes liable to the Companies Registry when you become a registered company. Registration in the Companies Registry makes your company a legal entity. It allows you to receive credit and insurance from other companies, even though you have not registered your company in the Companies Registry. The company is also obliged to pay income tax and receive the appropriate tax concession on its taxable income. A company formation in Hong Kong gives you complete legal protection. A company formation in Hong Kong will protect the interests of the business entity, even in bankruptcy.
There are two basic options for company registration in Hong Kong: Company Registration with an Office or Individual Registration. The chance that is chosen depends on the type of business and the status of the company. To select the best option, you need to consider the benefits of company registration in Hong Kong that apply to your company. There are six benefits of company registration in Hong Kong that enable you to benefit from a qualified company lawyer’s services. These are:
Tax concession – When you decide to register a Hong Kong company, you can avail of a tax concession. The privilegeapplies to the payment of income tax and any other taxes on behalf of the company. Thus, tax benefits become a significant advantage of company registration in Hong Kong. Most local governments in the region are lenient in allowing a business to register a company without paying income tax and corporate taxes.
Company’s standing in the business world – A company registered in Hong Kong has the reputation of being more reputable than other companies in the same industry. The company’s charter protects its exclusive rights to trade, money, resources, and contracts. Moreover, it guarantees that the company’s shareholders are entitled to a share of its profits. Thus, by registering a company, one can ensure its reputation as a legitimate business entity and a company on which it can rely when facing competition. Therefore, company registration in Hong Kong becomes very important to all businesses.
Protection from negative remarks – A company registration in Hong Kong gives the company the right to issue trade protection and commercial activities statements. These statements protect the company from any criticisms and charges of defamatory and unfair comments. Additionally, this also provides the company protection from any imposed penalties in case of any false commercial comments or complaints. Such actions can be very detrimental to the company’s reputation and credibility.
Comfortable establishment and registration process – Hong Kong has remained a favourite place for expatriates looking for a business environment conducive to business success. It is because it has developed into one of the fastest developing business cities in the world. Thus, by getting your company registered in Hong Kong, you can enjoy a smooth and hassle-free registration process that will not take much time. Furthermore, the process does not involve the submission of numerous applications and legal documents. All that is required is a simple fax of the necessary documents.
These are just some of the reasons why company registration in Hong Kong has become increasingly popular among business people. If you are looking for a stable and expanding business, then getting your company registered in Hong Kong would be ideal. You will also enjoy various other benefits, such as a recognized company name, a dynamic business platform, easy application procedures, and other facilities that will help your company succeed. For more information on company registration in Hong Kong, please visit Explosive Company.
company registration Hong Kong