Slay Your Startup with Low Taxes : Legally Launch Your Venture in HK with the Right Business Licence

Securing the right business licence is a crucial step that sets your Hong Kong venture up for success. It ensures your company operates legally and demonstrates your commitment to compliance with Hong Kong’s stringent regulatory standards. This validates your venture’s right to trade in specific industries, whether you are in retail, finance, or professional services.

The nature of business directly influences the type of licence required for establishing a company in Hong Kong. Identifying the appropriate licences varies based on whether you operate in a regulated sector such as finance or hospitality. Understanding these requirements at an early stage allows you to streamline your startup and ensures all legal obligations are met from the beginning.

Master company setup in Hong Kong – from securing your Business Registration Certificate to obtaining the right licence with a seamless application.

• Why a Business Registration Certificate Matters
• Which Business Licence Does Your Startup Need?
• AsiaBC Makes Business Setup a Breeze

The Business Registration Certificate (BRC) is a mandatory document issued by the Inland Revenue Department (IRD) to all businesses operating in Hong Kong. It serves as official proof of a company’s legal existence and reflects full compliance with local regulations.

As of 1 Apr 2025, the BRC fee is HK$2,200 annually, and companies are required to renew it each year to maintain active status. This certificate is a fundamental part of business registration in Hong Kong, confirming that businesses meet statutory obligations from the outset.

The BRC must be obtained immediately after incorporation and before engaging in any business activities. It is a critical step, and hiring a service provider helps ensure that your company is legally registered and ready to operate.

Failure to secure or renew a BRC on time can lead to serious penalties, including fines of up to HK$5,000 for late registration. Continued non-compliance may lead to legal action or even the suspension of business operations.

In the process of setting up a Hong Kong company, identifying which licence your venture requires is critical for ensuring smooth operations. Here’s a quick guide to the most common licences for businesses in Hong Kong :

• Employment and Recruitment – Issued by the Hong Kong Labour Department, this licence ensures recruitment practices align with local labour laws, protecting both businesses and their workforce.
• Travel Agencies – Managed by the Travel Agents Registry under the Commerce and Economic Development Bureau, this licence is essential for companies involved in travel-related services such as booking and ticketing. It helps to uphold consumer protection standards and promotes trust within the travel industry.
• Trading – For companies involved in importing and exporting goods, the required licence depends on the specific type of goods being traded. Here are the key types of trading licences :
  • Dutiable goods and controlled chemicals – Customs and Excise Department for goods such as alcoholic beverages, tobacco products, oils, and certain chemicals.
  • Animals and birds – Agriculture, Fisheries and Conservation Department’s Import and Export Division.
  • Foodstuffs – Centre for Food Safety under Food and Environmental Hygiene Department.
  • Textiles – Trade and Industry Department.
  • Pharmaceutical products, medicines, and dangerous drugs – Pharmaceuticals Import/Export Control Unit in the Department of Health.
  • Pesticides. Plant and Pesticides Regulatory Division within the Agriculture, Fisheries and Conservation Department.
• Food and Beverage – The Food and Environmental Hygiene Department issues this licence for businesses involved in food preparation, distribution, and sales. It ensures that all food-related operations adhere to Hong Kong’s stringent food safety and hygiene standards.
• Financial Services – Companies offering financial services, including investment advisory, securities trading, and asset management, require a licence from the Securities and Futures Commission (SFC). This licence guarantees that financial services are conducted in accordance with Hong Kong’s robust financial regulations.

Identifying the correct licence ensures legal compliance from day one.. A professional service provider can help navigate the complexities and streamline the application process.

Navigating the intricacies of setting up a company in Hong Kong can be overwhelming, especially when it comes to securing the right business licence for your venture. With a super-low profits tax rate of just 8.25% – significantly lower than most countries – Hong Kong is an attractive hub for entrepreneurs seeking tax efficiency and business growth. AsiaBC simplifies the company setup process with our all-inclusive Business Booster package, ensuring that your business starts on a solid foundation.

Here’s how we provide comprehensive solutions :

• Business Licensing Made Simple – AsiaBC handles the process of obtaining your Business Registration Certificate (BRC), ensuring your company fully complies with Hong Kong’s local regulations without any hassle.
• End-to-End Incorporation Solutions – Beyond setting up a company in Hong Kong, we offer a comprehensive suite of services, including company secretary support, a registered office address, and assistance with opening a multi-currency FinTech account—all in one seamless package.
• Tailored Expertise for Every Venture – Our specialists deliver customized solutions designed to meet the specific needs of your business, ensuring a smooth and compliant corporate service that aligns with your goals.

It all starts with a simple “hello.” Have a chat with our team via email at business@asiabc.com.hk, and get started in building your entrepreneurial dream in Hong Kong.