12 Years of Experience
Expert of Hong Kong Limited Company Registration and Maintenance
Bank Account Opening
Qualified Bank Account Opening Intermediary of Hong Kong Banks
TCSP Licensee
Licensed Trust or Company Service Provider in Hong Kong (TC001346)
Paid in Confidence
Online Checkout by PayPal Available
2021 HK budget highlight – wavier of business registration fees
Details
According to the 2021/22 Budget, the Inland Revenue Department (IRD) will waive 1-year Business Registration (BR) fee [HK$2,000 / US$250] starting from 1 Apr 2021 to 31 Mar 2022. Application of 1-year BR Certificate within the waiver period will be free of charge. AsiaBC has already reflected this change on our quotation of All-Round HK Company Formation Package.
Here’s a quick summary of the latest reliefs for enterprises announced by the HK Govt, chat live for any queries!
- ‘$0’ Business Registration Fees
- ‘$0’ Annual Return Fees
- 100% Profits Tax & Salaries Tax Reduction for 2020/21
- Max. 6 Million Low-Interest Loan for HK Enterprises
Note: The levies on BR Certificate and Certificate of Incorporation, which are collected by the IRD and Companies Registry respectively, remain unchanged.
1-day HK private limited company formation
and 1-day HK business banking account opening
AsiaBC sets up Hong Kong private limited companies (commonly known as “Hong Kong limited companies”) which:
- Accept both natural person and corporation as directors and shareholders (at least one director must be natural person);
- Allow members of any nationality, residency and place of incorporation (director must be at least 18-year-old);
- Suit both local and foreign investors and enterprise, for investment holding, global tax structure and trading businesses.
Updated on Feb 2021 AsiaBC offers bank account opening service in two ways:
HK is your offshore low-tax haven:
profits tax rate lowered to 8.25%
No restriction to company age, size and member’s locality, every Hong Kong incorporated companies can enjoy fixed 50%-off tax discount on their first HK$ 2 millions accessible corporate income annually, starting from tax year 2018-2019. This newly adopted 2-tier tax rates is:
| Accessible Corporate Income (HKD) | Tax Rate |
|---|---|
| Up to $2,000,000 | 8.25% |
| Any part of it over $2,000,000 | 16.5% |
We guarantee no hidden fee.
HK company remote formation service packages
(Optional) Online opening of HK banking account
- All-Round:
With Multi-Currency Business Account - US$ 1,050
or HK$ 8,250 - Remote
Incorporation Handling - Government
Disbursement - Company Secretary
– Nominee - Significant Controllers Register (SCR)
- Registered Office Address
with Letters Forwarding - Remote Online Opening of
Hong Kong Multi-Currency Business Account
- All-Round:
With Multi-Currency Business Account - US$ 1,050
or HK$ 8,250 - 1 New Company
- 1 Year License
- 1 Year Service
- 1 Set
- 1 Year Service w/
USD 100 Credit * - AirWallex , Currenxie , Neat , Statrys , Payoneer , WorldFirst
- Basic:
Incorporation Service only - US$ 550
or HK$ 4,280 - 1 New Company
- 1 Year License
- nil
- nil
- nil
- nil
Package: All-Round (US$ 1,050 / HK$ 8,250)
- Remote Incorporation Handling: 1 New Company
- Government Disbursement: 1 Year License
- Company Secretary – Nominee: 1 Year Service
- Significant Controllers Register (SCR): 1 Set
- Registered Office Address with Letters Forwarding: 1 Year Service w/ USD 100 Credit *
- Online Remote Opening of Hong Kong Multi-Currency Business Account: WorldFirst , Statrys , Neat & Currenxie
US$1,050 (Hong Kong Dollar (HKD) $8,990)
* The Fee of All-Round packages have included refundable USD 100 credit in your delivery-expense account for letters forwarding.
Package: Basic (US$ 550 / HK$ 4,280)
- Incorporation Handling: 1 New Company
- Government Disbursement: 1 Year License
US$550 (Hong Kong Dollar (HKD) $4,280)
* The Fee of All-Round packages have included refundable USD 100 credit in your delivery-expense account for letters forwarding.
All-round package
Everything in Basic, plus compliance and money account opening in Hong Kong. All are done remotely.
Remote online opening of HK multi-currency business account
Updated on Feb 2021 Pinpointing the pain of startups and small business, AirWallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst, offer multi-currency accounts for companies to settle transactions with conventional banks globally. You will find Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst business accounts are the best alternative or the perfect backup solution to the traditional bank accounts because:
- Online remote account opening & account management: No more visiting Hong Kong
- Rapid approval of account opening: Get accounts ready as quick as 1 day instead of months
- Simplified due diligence: Directors and shareholders passports, and company registration document only
- Cutting-out upsells products: No investment, insurance, loans, savings. Just the account for money transfer
- Dedicated bank account number with beneficiary of your own: Transfer fund with conventional banks globally
Please refer to below FAQ section for details. If the Multi-Currency Business Account by Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst cannot meet the need of your business, or you need a business bank account in conventional bank instead, you are recommended to join AsiaBC “Success Guarantee” Corporate Bank Account Opening Service (US$ 5,500 up).
Compliance
- Company Secretary – Nominee: We act as your company secretary of your company from the start of registration and will take this position for one year after incorporation.
- Significant Controllers Register (SCR): It is a legally required document, we will prepare your SCR in electronic format for your Hong Kong company based on your provided information
- Registered Office Address with Letters Forwarding: We share our Hong Kong commercial address with your company, this address will remain your company’s Registered Office Address for one year. During this period, we forward only government letters quarterly and deduce the delivery expense from your delivery-expense account of USD 100 delivery credit (refundable).
Basic package
Company remote formation
- Government Disbursement: We settle the application fees of the Certificate of Incorporation and the Business Registration Certificate of your company (1 year license).
- Incorporation handling: We handle the setup of your Hong Kong company, we do company name search, produce the Article of Association for your company, file the government incorporation form for your signature, and submit the signed form to the Companies Registry.
Steps of HK limited company formation and optional multi-currency business account opening:
Procedures of company remote formation & multi-currency business account online opening
1. Preparation
Request FREE Company Name Search
- You request a Company Name Search for free (online form), leave your contact information to us.
- We check the eligibility of the name, and make suggestions of English name.
- We help you to arrange the shares distribution and director appointment.
Send your document copies to us
- We receive the identification or incorporation documents of director and shareholder in digital copy.
- For Basic package, please send us the documents of your Company Secretary and address proof of your Registered Office Address.
- We will send you the invoice of package fee after checking the documents.
2. Incorporation
Sign the incorporation forms
- We prepare the incorporation forms of your proposed company and email the incorporation forms to you.
- You print the form on plain A4 size papers, and place your signature on the required areas.
- You return the original of the signed incorporation forms to our office.
Getting your Hong Kong Limited Company ready
- We submit the incorporation form to the government together with government disbursement.
- We receive the result of application within 1 business days from the government.
- We will email incorporation documents to you, your Hong Kong company is ready to use.
Remark: We will act as your Company Secretary and share our address as your Registered Office Address in All-Round packages.
3. Account opening
Getting the required documents ready in advance
For the process of due diligence, you will be asked by the provider to submit:
- Passport of all directors
- Passport of all shareholders with 25% or more of the company’s control or shares
- Valid Business Registration Certificate
Get answered by
frequently asked questions
Shelf company
Can I choose shelf company in the above packages?
No. The above packages are not applied to Hong Kong shelf company (a.k.a ready-made company).
Can I buy shelf company from you?
Yes, we can. Just tell us your requirement of the age of the shelf company, we will send quotation to you. Since there are some extra costs in maintaining shelf company, the cost of buying shelf companies are higher than that of forming new companies.
Company kit
I cannot find the item “Company Kit” or “Green Box” in you packages, why is that?
To save you money from making and storage of standard but unnecessary Company Kit, we prepare Company Kit by request, and we have removed this tem in our Hong Kong company formation packages. Hong Kong government and banks have widely adopted online services, you can manage your Hong Kong company via the internet online regarding its business operations, bank transactions and government services applications, Company Kit loses its importance in Hong Kong company formation.
What is “Company Kit”?
Company Kit is a term created for marketing purpose, it refers to a set of hardware including printed copies of your company’s Certificate of Incorporation & Business Registration Certificate, the Articles of Association, the Share Certificates, and the Statutory Book; common seal, signature stamp, and 22mm round stamp bearing your company name; and a green cardboard storage box with your company name printed on it. There is no statutory requirement to Hong Kong companies in preparing these items, you can buy them optionally.
Delivery
How long can my new Hong Kong limited company be ready to use?
After collecting the signed incorporation forms and payment, we will then submit your application to Hong Kong Companies Registry. The Registry takes as quick as 1 working day to process the company registration application, we will email you the application result and incorporation documents in no time. Please check the “details” of each package for the complete schedule.
What incorporation documents will I get from AsiaBC?
Incorporation documents refer to Certificate of Incorporation, the Articles of Association, Incorporation of Local Companies Form NNC1 and Business Registration Certificate. We will send the incorporation documents to you by email. The electronic form documents have legal effect, so we will not produce printout of your documents for you.
Why "same day online incorporation" is not available?
Hong Kong Companies Registry (CR) offers online e-incorporation service to allow incorporation in same day. However, the service has more stringent requirements which need you to provide certified personal identification documents by Hong Kong professionals for CR to complete “user registration”, leaving this service more suitable for person who incorporate Hong Kong companies frequently or in bulk quantity. We stick to offline hard-copy submission method which can save you from the burden of “user registration”. We have an post to talk about it here.
Company secretary
What will AsiaBC do as the company secretary nominee of my company?
We take the position of your Company Secretary only for company registration purpose. We can provide all range of duties as your company secretary for your company but we will charge separately on all services to be carried out on the capacity of your company secretary, actual service charge will be quoted separately.
Address & letters
How does AsiaBC handle my bank and government letter?
We will forwards all the government letters of your company to a designate address quarterly, postal or delivery expense incurred in sending the letters will be deduced from your delivery-expense account with USD 100 credit initially. Please ensure that your designated address is correct.
Can I use this shared address for receiving other mails?
No, you cannot. This shared address can only be used as your registered office address only for company registration purpose and communication with the government and the banks. We will not receive any letters from 3rd parties, parcels, or packages. If you want to use this address as your business correspondence address of Hong Kong company, please purchase our Virtual Office Service.
What will happen when I run out credit in my delivery-expense account?
We will stop forwarding the letters when the account does not have enough credit. You can recharge your account anytime during the service period.
Banking account
Are Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst banks in Hong Kong?
Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst are not banks nor competitor of the traditional banks, they are an innovative online platform for multi-currency transfer globally. They relief the pains of startups in the setup of a corporate bank account in traditional banks by offering simplified account opening and rapid approval.
After account opening, your Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst accounts allow you store money their, receive payments and send money between the conventional bank accounts via common bank transfer. They are also known as an alternative of bank account for startups.
How do Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst business account work?
You can think of your business account in Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst as a simplified online banking account, although they are not banks.
As the account holder, you will be assigned dedicated instructions to handle bank transfer. In other words, you will have your dedicated bank account number with dedicated name of beneficiary for you to receive and send fund between other bank accounts, by the mean of conventional bank transfer.
Can Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst business accounts replace conventional bank accounts?
It depends on you needs.
For startups, Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst business accounts are known as the alternative to bank accounts. Startups are complaining about how difficult to open business accounts in conventional banks (like HSBC) as these banks adopt stringent “Know Your Clients” and due diligence policy. This procedure not only adds months of delay in the approval process but also screens out lots of new business due to the lack of operational proof (ironically, startups are new in nature). These fin-tech platforms enable your newly registered Hong Kong company to open your business multi-currency account – instantly and remotely.
For established businesses, Statrys, Currenxie, Payoneer, Neat, Airwallex and WorldFirst business accounts are the best backup solution to bank accounts. These platforms adopt computerized mechanism to automate a large part of the due diligence procedure, so that they can review each application within 48 hours. In case your business bank accounts are in trouble e.g. your bank freezes it due to non-compliance, these fin-tech plateforms are quick and simple to apply for.
What are the limitation of Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst business accounts?
Account Limit
Unlike the accounts in conventional banks, multi-currency accounts in Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst are given ceiling on the account balance, top-up amount and transaction amount.
Fee
Airwallex, Currenxie, Neat, Statrys, Payoneer and WorldFirst can only make money from your account because they have no financial tools to upsell, they charge on withdrawal transactions you make, and sort of membership fee to keep your account alive.
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