Hong Kong is known to have one of the most liberal economies in the world.
There are almost unlimited advantages to opening a company in Hong Kong, especially as a foreigner.
For those located in mainland China, Taiwan, Thailand, and other surrounding countries, registering your company in Hong Kong could be one of the best decisions you make.
Setting up a company from Thailand in Hong Kong is cheap, fast, and easy.
What more could you ask for?
Another benefit of setting up your Thai company in Hong Kong is that you can do it all without even stepping foot outside of the country.
An important note is that you can only open a limited company unless you are living in Hong Kong full time and have a resident permit.
Even so, a limited company does still require you to rent an office and have a full-time secretary.
Luckily, there is a way around this.
In Hong Kong, you can work with companies who offer the service of providing a secretary and address for about 5-6,000 HKD per year.
They can keep the cost down since the same address and secretary can be used for many companies.
Additionally, all paperwork and forms can be done online along with payment through credit card or PayPal.
This means you won’t have to worry about the cost of travel to and from Hong Kong as you set up your new entity.
Now, let’s take a look at the necessary steps to registering your new company in Hong Kong.
You need to come up with a name for your company and pay the company secretary’s fee.
The licensed company secretary you’re working with will advise if the name you’ve chosen is available in Hong Kong, so have a backup ready in case you need it.
After you have your company name approved, it’s time to produce some documents.
What you need includes:
Next, your company secretary will set the company up by e-registration.
The process takes about two hours and when it’s completed, you will be given the company’s certificate of incorporation and the business registration certificate.
Now you have a new company registered in Hong Kong. Easy as that!
The entire process takes about five business days from start to finish.
If you want to register without ever stepping foot inside of Hong Kong, it’s highly recommended to use a company secretary.
It’s not a requirement, but the forms can be complicated if you’ve never done them before.
You want to avoid making a mistake so that it doesn’t take any more time or money than it should.
Now that we’ve gone over the steps on setting up a limited company in Hong Kong, let’s talk about the cost associated with it.
The first year is going to be more expensive since you’re having to set it up from scratch.
Each company incorporation agency, or in Hong Kong they’re called Company Secretaries, charge differently, but on average, it costs around HKD10,000.
Though typically the price will swing wildly between each provider from as little as USD90 to as much as USD5000.
So you’ll need to do some shopping.
Cheap, efficient, and trustworthy more your style? Consider registering with us here at Air Corporate today and get your Thai business registered in Hong Kong in under 48 hours, guaranteed.
You will be paying for the incorporation documents, company registration fee, the Business Registration Certificate which is a government fee, the office and secretary fee, e-registration handling fee (if you don’t enter the country), and for assistance in opening your bank account.
You can open an account yourself, but if you don’t want to put in all of the efforts and spend the time to do so, you can pay for assistance.
After your first year, the fees associated with a limited company are the Business Registration Certificate, annual return, and the amount you’re paying for a secretary and office.
After 18 months, your company will have to start filing an income tax return.
If you used a good company secretary to set the company up, they will likely also be able to assist with accounting and filing taxes.
If you’ve noticed, a licensed company secretary is pretty crucial to have this process run as smoothly as possible.
So what are you waiting for? Register with Air Corporate today for as little as $90 and get a company in Hong Kong in less than 48 hours!
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