If you are planning to set up a business in Hong Kong, there is a lot to consider, and unless you are extremely knowledgeable regarding the laws in Hong Kong, you will need the services of a local business lawyer. As you would expect, there are numerous ways to set up a business in Hong Kong, which are as follows.
- Representative Office – This is ideal for the foreign company that wishes to carry out some market research in Hong Kong, and this non-trading entity has limited business activities and is not subject to local law compliance. Fortunately, there are legal experts who specialise in facilitating business registration in Hong Kong, and if you are looking to investigate the Hong Kong market, this is the ideal set up for you.
- Private Limited Company – Setting up a private limited company limits your liabilities, and this trading entity supports work visas for you and any others you plan to involve. Furthermore, there is no minimum share capital, and you are subject to local compliance, but you are not limited in your business activities. Everything can be completed within 10 days, and with work visas, you and your shareholder or partner can legally work in Hong Kong. Here are a few SEO tips to boost your new business.
- Foreign Branch Office – If you run an established business and wish to expand with an office in Hong Kong, this is the ideal solution. You are a trading entity and can have one branch manager, while being unrestricted in your business activities, and there is no minimum share capital to worry about. The business would be compliant to local laws, and with a local legal expert in your corner, the process will be completed in 30 days, then you can trade with confidence, knowing your company is legally registered. Here is some further reading on setting up a business in Hong Kong, which is well worth investigating.
The first step is to search online for a Hong Kong business lawyer, one that has extensive experience in setting up businesses for their clients. Due to Covid-19, the lawyer would be happy to give you a video call, when you can tell him or her your needs, then the expert can advise you accordingly and facilitate the formation of the company. It is possible to complete the entire procedure online, which is more than a little convenient.
The commerce laws in Hong Kong are indeed complex, which is why you need a leading lawyer that focuses on setting up businesses for foreign clients. Once the lawyer understands your business objectives, he or she can advise you on the best way to formulate the company, which will ensure that you are always compliant, plus they can facilitate work visas for you and others. Once armed with the essential information, you can plan you entrance into the Hong Kong market, and if you start with a representative office, you can always change that to a limited company when you are ready.
Setting up a business in Hong Kong is much easier with the assistance of a local law firm, who can facilitate the process in a very short time.