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How to register a company in HK ?

Discussion in 'Business & Tax Advice' started by nakamura, Dec 15, 2014.

  1. nakamura

    nakamura Senior Member

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    Hi, I don't wanted to hijack the another thread that's why I opened this one.

    I saw there are a few persons on BHW which registered a company in HK successfully.
    I want to open one aswell, since I have high income with IM. I went to HK for vacation two months ago and also have some friends there (actually I don't know if they can help me).

    I checked some websites and I found there are companies (like HK Commons) which do the whole process for you.

    My questions are to the people who already have a HK company:

    Are you also living in HK?
    How did you create the bank account over there and which bank did you go with?
    Was the whole process of register and dealing with it complicated or stressful in your opinion?
    How much did you pay for everything?
    Is there anything very important I should take care of before I try/or do register a company in HK?
     
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  2. netdealer

    netdealer Newbie

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    Hi,

    It's actually really easy to form a HK company. There are a lot of different agents that will setup your Hong Kong corporation just by filling out the paperwork online. The cost ranges anywhere from USD$600.00 - USD$1500 depending on the the company you're using and any additional services you may be looking for. I can send you in the right direction with some places I've used for HK company setup and others that colleagues have used.

    1. You Don't have to LIVE in HK to open a HK Company. You don't have to be a resident or anything of the sort.
    2. You'll want to use another firm to give you a virtual address in HK, for mail forwarding, etc... and needed for the HK Corp.
    3. It's not at all complicated. It is one of the easiest places to open an offshore Corp. in my humble opinion. And the tremendous advantage is that Hong Kong corporate tax rate is 0% for transactions outside of HK. What this means is that any money your corp makes, that was NOT earned from within Hong Kong, is not taxable - and therefore, you pay 0% tax on this income.

    ** The most important thing however is that YOU WILL need to visit Hong Kong to open a bank account there. I have yet to find any service that will open a bank account for you. You have to be present, with corporate documents in hand, at the bank, and they will open a bank account for you - usually no questions asked at all - on the spot (takes about 20 - 30 minutes from the time to walk in the door to walking out with your ATM card, account details, etc...)

    Hope that helps.
     
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  3. calory89

    calory89 Registered Member

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    send me more information please. thanks
     
  4. ChrisX

    ChrisX Jr. VIP Jr. VIP Premium Member

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    Many years ago I registered through a service I found online. Don't remember their details exactly but it cost about $700. I'm not in HK so they sent me a pack of documents, which I signed and sent back. Got a HSBC business account and a debet card with that as well. Part of the fee went towards opening the bank account so I had like $100 in the account when I first logged in. Do keep in mind they have maintenance fees for the account and you also pay about $400 per year for company renewal.
     
  5. RosuC

    RosuC Regular Member

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    I just want to add for the ones that posted above the following:
    - the bank account can be open even though you don't have a based .ltd in HK (I've started like this 6 years ago)
    - the company that you create is not made 100% on your name (there are some delegates that will represent you)
    - there are in this moment 4-5 big companies that are doing only this and they'll "host" your created .ltd in their headquarters (this is what is happening with my .ltd and is all fine for the last 4 years)
    - having a company in HK will allow you to escape from many taxes from Europe but from USA they will start to report all the incomes based on a new convention between China and USA, as well if you want to transfer money from HK to Europe you will need to have very good commodities contracts to be covered against the tax department from any European Country (it happened to me first time and I learned my lesson)
     
  6. nakamura

    nakamura Senior Member

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    Wow. Thanks for the great help guys. Could you suggest me a service you used?
     
  7. adflow123

    adflow123 Newbie

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    I used company AsiaBS, they were very helpful and it wasn't so expensive I thought.
    Was able to finish the process in about 1 month.
     
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  8. chuk94

    chuk94 Newbie

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    Hello , i earn like 7/8K/month , but i want to know if it's legal to open a company in HK?
     
  9. chuk94

    chuk94 Newbie

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    Hello , i earn like 7/8K/month , but i want to know if it's legal to open a company in HK?
     
  10. nakamura

    nakamura Senior Member

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    Yes. But it depends on how you are earning it?
    If you offer a SEO service and so on then it might be no problem and absolutely legal.

    I guess there are dozens of BHW members who are having a company in HK. I will make one too in a few months.


    By the way: Could anyone suggest me a service?
     
  11. nakamura

    nakamura Senior Member

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    I just saw lots of comments by people who are owners of a offshore comp. in HK and they were not able to open a bank account in HK (HSBC). The bank just declined it. Seems like it gets a lot harder to set up an bank account in HK.
     
  12. chuk94

    chuk94 Newbie

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    I'm doing CPA MARKETING , WH ! :)
     
  13. I-marketer

    I-marketer Regular Member

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    HK is cheaper and also more popular than Singapore, but still expensive.

    For opening a bank account, you can rarely get it opened remotely - it's necessary to show up in person.
    What you should know - your name as the owner of the company will be publicly available - so don't open HK company for anonymous reasons. Every single company must have their financial accounts audited. I recommend going with www.bycpa.com, they specialize in this region and offer complex services - from incorporation to audit.
     
  14. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    There are plenty of places where you can get your offshore account opened remote, there is a list here and you may also aproach many of the banks in other offshore jurisdictions to find the best for your needs.

    In regards to company, I would rather look at the BVI, Cyprus or Seychelles for your needs, faster, cheaper and more privacy.
     
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  15. midion

    midion Newbie

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    Thankyou for posting this link! I will most likely open a offshore company and bank account in Cyprus.
     
  16. xtremedoc

    xtremedoc Newbie

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    hi, i think the best countries are BVI, Cyprus or Seychelle. I've found some trust website's where you can open different versions of offshore companies:
    offshorecompanyquick
    sfm-offshore

    you can find some other companies for this business if you search for "offshore company"
     
  17. Shiftchrisd

    Shiftchrisd Newbie

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    I work at Shift Forex and we setup offshore companies and bank accounts. Lookup my company online company or reach me on Skype so that we can discuss your needs. My ID is shiftchrisd