Why You Should Consider Setting Up Your Company In Hong Kong

As a result of the City’s prominence as a free port and financial center, many foreign entrepreneurs choose to transact their business in Hong Kong. If you prefer to relocate here, then you should be conversant with some key issues like taxes, visas and business entities. Setting up company in Hong Kong can prove to be a complicated affair.

Company Registration - Hong Kong Company Registry (in 1 Biz Day)

Nonetheless, it is not an impossible task. Information can be obtained from the Government to facilitate starting up a company or investing in one. However, the time and effort required to open up a business in this Asian City should not be underestimated 香港開公司.

There are visa options in-case you need to establish a new company or merge with an existing business. You will still need a sponsor to do so. You need to establish a professional network prior to making an attempt to start-up a business in this city. Apart from having some knowledge of the local business world, it would also be beneficial to understand the Hong Kong business culture and work on improving your Chinese skills.

Even with all the support you may receive, operating your own business in this city still requires a lot work, time and money. You need to have a thorough business plan and some local support for your business. There are some guidelines available for starting up a business or investing in one that is established. Nevertheless, these cannot take the place of expert advisors. You should consider hiring the services of a local accountant, lawyer or consultant.

Owning your Business in Hong Kong; Self Employment Visas

A visa category is available for investors who need to establish new companies or team up with existing ones. This provides you with the chance to be your own boss. You don’t have to prove that the niche your company will be filling is unfilled by local entrepreneurs. However, this visa requirement does not apply to residents of mainland China and nationals of some countries. These nations include Albania, Afghanistan, Cuba, Cambodia, Laos, North Korea Nepal and Vietnam.

In filling your application, some necessary requirements include a good education and some professional qualifications. Any police records of serious crimes may disqualify you. Loitering or jaywalking may not be considered as serious crimes. Your business should qualify as a significant contributor to local economy.

Like many other work visas, a sponsor is required in the process of setting up company in Hong Kong. Your sponsor should fit the required criteria i.e 18 years and above and a local resident whom you are well acquainted with.

Application forms for ID 999A and sponsor ID 999B can be downloaded from the immigration department’s official webpage. These forms can also be obtained at any Chinese missions. Some supporting documents are also required to support your application forms. These include recent passport photographs, proof of professional experience, academic qualifications, a copy of your passport, a copy of your business registration certificate, investor’s background information, investor’s background activities and a detailed two-year business plan.

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