Step Right Up in Registering
Your HK Company Anywhere
Hong Kong company registration in just 15 minutes
Guaranteed multi-currency banking account
After-sales care from our HK incorporation specialists
Step Right Up in Registering
Why Hong Kong Incorporation ?| HK Incorporation  Payment Discount Curious about the Ultimate Mystery Offer? Talk to Our Experts Dare to find out how much you could save? Our mystery offer is all set to make your incorporation journey surprisingly affordable. Speak directly with our specialists for the exclusive details! |
| Business Booster
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| Services you get with Business Booster :  Remote HK company registration with e-stamp
 Total inclusion of Government fees
 Designated company secretary
 Significant Controllers Register (SCR)
 Registered office address
 Global transfer FinTech account
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| Market Launcher
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| EVERYTHING in Business Booster, plus :  Corporate identity services
 HK bank account consultation
 Accounting & tax consultation
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| Business Booster
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| What do I get?  Remote HK company registration
 Total inclusion of Govt fees
 Designated company secretary
 Significant Controllers Register (SCR)
 Registered office address with electronic company stamp
 Global transfer FinTech account
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Let’s get you started
Here’s what you need to know about company registration in Hong Kong and how we cover essential compliance for you.
Process Time
- The company registration process of an all-new Hong Kong company takes 1 business day.
- Ownership transfer for a ready-made company takes 1 week to process.
Basic Requirements
Registered Address
Low Tax System
Secretary & FinTechs
Company registration made simple
Don’t stress out. Here are 4 easy steps to register a company in Hong Kong.
  Let’s check if your preferred business name for company registration Hong Kong is available. We’ll also help arrange your director(s) and shareholder(s)’ ownership details in the process. 1 FREE company |  |  We will prepare a full set of incorporation Hong Kong & KYC documents for your original signature. Please feel free to send an electronic copy of your signed documents back to us if you are overseas. 2 Sign incorporation |  |  We will submit your company formation paperwork, fully completed, to the Companies Registry to finalise your incorporation Hong Kong application. You will receive a valid Business Registration Certificate. 3 Send to Companies Registry |  |   You’re almost set! Initiate your business transactions by opening a complimentary multi-currency account with our esteemed FinTech collaborators. Following HK company registration, popular options include Airwallex, RD Technologies, Currenxie, Statrys, and Rapyd (Neat), among others. 4 Open a banking account |
Discover the right digital banking for your registered company
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3-minute banking account success
likelihood test
Ready to take your newly registered company in Hong Kong to the next level with a centralised multi-currency account?
Skip the endless applications with no guaranteed results. Take our 3-minute test and find the perfect commercial account solution for your incorporation in HK or anywhere in the world.
Get your complete guide to
company registration in 30 seconds
Eyeing to launch your Hong Kong incorporation asap? Watch this 30-second reel here to learn how to register a company in Hong Kong stress-free and travel-free. Multi-currency banking account, local compliance, prestigious address and accounting services included!
We’re fully prepared to facilitate your company registration, enabling you to tap into the vibrant business hub of Asia’s World City. Expand your horizons and grow your business across borders, whenever and wherever you choose.
Why Hong Kong matters for company formation?
Transform the future. Start building your business at the heart of Asia.
Business Hotspot
Its unique spot allows business to access different countries easily, especially China, making incorporation HK engaging for global entrepreneurs.
Quick Incorporation HK
Remote company registration in Hong Kong only takes about 1 to 5 business days, making it a striking convenience for entrepreneurs.
Simple Tax Regime
Its corporate tax system is highly favourable at 8.25% or 16.5% depending on assessable profits. A very low rate for company registration HK.
Competent Workforce
Registering a company in HK gives access to a pool of skilled and knowledgeable labor forces that are versatile, well-informed, and with high qualifications.
Superb Infrastructure
Efficient shipping, logistics, and freight forwarding that support HK’s registered companies, with advanced and competitive telecommunications network.
Legal Safeguards
It offers a safe environment and sound legal framework that provide excellent protection for int’l business when registering company in Hong Kong.
You can ask us anything
Take a look at our popular company formation FAQs and see if we answered your queries.
About Company Formation …
01 | Do I need to be in Hong Kong for company registration?
No. We will do an identity verification once all requirements and documents are sent through electronic means, so you can start your newly registered company without flying to Hong Kong.
02 | Can foreigners register a company in Hong Kong?
Definitely yes! Hong Kong has no nationality restrictions when it comes to Hong Kong incorporation. Foreigners can register a new company in HK and they can be the sole director and shareholder of the company. However, a resident company secretary is required, and AsiaBC can provide one for you as part of our company formation services.
03 | What are the main benefits of Hong Kong incorporation?
Hong Kong is one of the leading corporate hubs in Asia, specialising in the commercial and finance industry. Foreign investors and entrepreneurs continue to register company and reap the city’s various strengths :
- Prime location with easy access to neighboring countries, especially mainland China.
- Low tax regime with the profits tax rate at 8.25% on the first HK$2 million of net profits for a registered company.
- A computer-literate, productive, skilled, and English-proficient workforce.
- Highly developed free-market economy and the second largest foreign exchange market in Asia.
- Remote company formation with digital banking accounts for convenient global transactions.
04 | Is Hong Kong a crypto-friendly region?
Hong Kong has a rather strict standpoint on crypto-related businesses since they are decentralised and not regulated by an intermediary bank, lacking proper Anti-Money Laundering (AML) and Know-Your-Client (KYC) regulations. Additionally, applying for a blockchain and cryptocurrency license as part of the Hong Kong company registration process can be challenging and time-consuming. Therefore, foreign entrepreneurs tend to incorporate a crypto business in another jurisdiction as an alternative.
To achieve such, AsiaBC has a wide connection that can support cryptocurrency businesses registering a company in other overseas jurisdictions. Our consultants will assist you in finding a suitable company registration location like BVI, Cayman Islands, Seychelles, St. Vincent and the Grenadines, etc. On top of it, utilizing our extensive banking network, we will look for a partner that can cater to your cryptocurrency needs such as Caribbean banks and more.
05 | What is a ready-made company?
It is also known as a ‘shelf company’ or ‘shell company.’ This Hong Kong registered company doesn’t have any prior business activities, making it clear from debts and is all ready for reselling to a new business owner.
While shelf companies are still required to comply with the same set of requirements similar to all-new companies, corporate directors and shareholders are allowed and have no restrictions on their nationality. This flexibility makes shelf companies a favored choice for those seeking a company registration in Hong Kong with established history.
06 | What’s the difference between ready-made and all-new companies?
| Ready-Made Company | All-New Company | |
|---|---|---|
| Registration Date | Since it is ready-made, an older company registration date can convey a sense of established credibility to entrepreneurs. | Opposite to ready-made companies, all-new companies might take time and effort to build their credibility for their customers and suppliers. |
| Process Time | It takes around 1 week to process the ownership transfer for company registration in Hong Kong. | It only takes 1 business day for HK company registration. Company director(s) and shareholder(s) are required to appear. |
| Fees | Generally, the fees for a shelf company are higher than those for a brand-new company. However, the price of some shelf companies can be particularly high due to their early company registration dates and the accumulated Government fees paid previously. | For all-new companies, the US$1,300 incorporation in HK package fee is the only cost the clients need to settle at AsiaBC, plus optional add-on services (e.g., call answering, etc.) they would want to avail. |
| Annual Renewal | The renewal date of a ready-made company is earlier than the date of purchase, meaning that the due date is less than 1 year after the purchase. | The renewal date of a newly registered company is on the anniversary date of Hong Kong incorporation. |
07 | What is a Business Registration Certificate?
A Business Registration Certificate (BR) is a mandatory requirement and document issued by the Inland Revenue Department (IRD), which allows a registered company in Hong Kong to operate in the region. A HK-registered company or non-HK company doing business in the city must apply for a valid BR within 30 days after starting the venture. Please refer here for the business registration fee and levy table.
08 | When should I renew my Business Registration Certificate?
A Business Registration Certificate (BR) is renewed annually unless you apply for a 3-year validity. The Inland Revenue Department (IRD) will send a renewal note mid-month before your renewal date — for example, if your renewal date is November, the IRD will send it to you in mid-October.
If you did not receive your renewal notice, you must write to the Commissioner within 1 month of your BR’s expiration. The good news is an experienced Hong Kong incorporation agent like AsiaBC will remind you of all critical company renewal / tax filing dates to help you avoid late penalties by the Government.
09 | Why does incorporation in Hong Kong need a registered office address?
Getting a registered company address in Hong Kong is part of the company formation process. It will serve as your official business address, where you will receive all legal documents, notices, financial statements, and the like. You can also put it on your name card and website as the contact point, and therefore using a prestigious office address will help your company enhance its image and reliability considerably.
Note :
- A P.O box address is prohibited.
10 | What is the role of a company secretary?
A company secretary is the business’s representative and must ensure that your registered company complies with Hong Kong Companies Ordinance. It is a mandatory requirement to hire such a role when registering a company in HK provided that the assigned person will be responsible for the following duties :
- Prepare and submit Annual Returns.
- Act as the designated representative for the Significant Controllers Register (SCR).
- Maintain communication with the Government and regulatory bodies like Companies Registry, IRD, SFC, and HKEX.
- Keeping statutory records.
- Ensure compliance with Hong Kong laws and regulatory requirements.
11 | What is a Significant Controller?
A Significant Controller is a mandatory requirement by the Hong Kong Companies Registry for all companies incorporated in Hong Kong, and its main role is ‘to obtain and maintain up-to-date beneficial ownership information by way of keeping a Significant Controllers Register which should be open for inspection by law enforcement officers upon demand.’ Learn more about Significant Controllers here if you are interested in company registration Hong Kong.
The assigned Significant Controller can either be a natural registrable person or a legal entity with significant control, directly or indirectly, over the company. This duty can be managed by AsiaBC’s assigned company secretary, which is already included in our Business Booster Package for your smooth company formation.
12 | Who can be a Significant Controller?
As per Companies Registry requirements, the Significant Controllers of incorporation in Hong Kong must have a direct or indirect influence on the company and meet one or more of the following criteria :
- Have more than 25% shares in the company.
- Have more than 25% voting rights.
- Have the right to appoint or remove the company’s majority of the Board of Directors.
- Have the right to take control of the company.
- A trustee or a member who has significant control over the company’s activities or duly fulfilled the first conditions.
AsiaBC can help you fulfill this Significant Controller position to ensure that your company complies with the Companies Registry requirements and carries out its international obligations in Hong Kong when your company registration takes place.
13 | How does AsiaBC work to register a company in Hong Kong?
Our company formation services include conducting checks for the availability of your preferred business name and providing suggestions if necessary. Then, our HK company registration specialists will provide you with all the required documents for company formation online. Directors and shareholders must complete these documents carefully and provide their signatures before we submit the incorporation HK paperwork to the Companies Registry.
Team AsiaBC aims to extend a local helping hand to entrepreneurs like you, especially if you are abroad, relieving you from all the stress of company formation and regulatory compliance by all-inclusive HK incorporation handling so you can focus more on your business confidently.
14 | Are there any other jurisdictions where I can register company?
Yes. AsiaBC’s company formation services can assist you with company registration in jurisdictions like Singapore, BVI, Seychelles, Caymans Island, the Philippines, Dubai, United Kingdom, Estonia, Turkey, Brazil, and many more.
15 | How do you register company in another overseas jurisdiction?
AsiaBC’s company formation specialists will understand your specific background, collect all necessary information and liaise with our regional consultants abroad to assist in a one-stop-shop overseas company registration process according to your preferred jurisdiction.
If you choose to handle company registration on your own, be aware that it can be time-consuming, labor-intensive, and may require travel that can disrupt your business operations. That’s where AsiaBC steps in. Our regional consultants are dedicated to removing the hassles of registering a company with a hands-on approach. We ensure a smooth, efficient, and cost-effective process for cross-border company formation, leveraging our extensive local networks and expertise. With us, there’s no need to chase multiple compliance solution providers, a process that can prove to be frustratingly ineffective.
Whether you are considering incorporation in HK or company registration abroad, you can rely on our comprehensive online company formation assistance to streamline the process and ensure a successful outcome. Click here to discover the locations of our regional consultants.
About Bank & FinTech Accounts …
01 | Can I open a Hong Kong commercial account remotely, or do I need to visit a branch in person?
Hong Kong traditional banks have a reputation for lengthy and prudent account account opening processes since they strictly comply with their Know-Your-Client (KYC) procedure and still prefer face-to-face appointments. That being said, there are company formation services with extensive banking networks that can help you open a commercial account in Hong Kong remotely without direct presence, especially when you can fit some specific criteria.
02 | Is there another way to secure a business account without flying to Hong Kong?
Of course! International entrepreneurs can choose between an offshore bank account or a FinTech if they look for quicker but still secure alternatives that don’t require a trip to Hong Kong.
We recommend hiring a local company formation service provider to assist you with your submission to save you time and effort. They offer pre-assessments to check if your company profile suits their partnered banks’ preferences, help you with compliance processing, and suggest what you can do to enhance the whole application for a trustworthy business account.
In light of this, for a better chance at securing a business account following your Hong Kong incorporation, collaboration with seasoned professionals is a wise move. By enlisting the help of a reputable company formation services agency, you can streamline the registration process and leverage their expertise to meet the specific requirements of your preferred banking institutions. Please click here to learn more about their comprehensive services and how they can support your company registration in Hong Kong and banking needs.
03 | What is a digital banking (FinTech) account and why should I open one?
FinTech is coined from Financial Technology, an alternative multi-currency banking platform for entrepreneurs who are in the process of obtaining a formal bank account following their incorporation in Hong Kong. FinTech services enable a newly registered company to open a quick account remotely and conduct international business transactions, such as paying suppliers or receiving payments from global bank accounts, at any time. Some entrepreneurs use FinTech accounts as a temporary solution while they await approval for a traditional bank account after company registration.
Note :
- Just as when applying for an account at a traditional financial institution, there are also restrictions on which companies and nationalities can open an account, due to the respective sanction lists maintained by different FinTech companies.
- These providers usually charge handling fees per payment, both incoming and outgoing. They also have a subscription fee to maintain your business account.
04 | Do Hong Kong banks only accept Hong Kong company applicants?
While they typically show a preference for opening business accounts for HK registered companies, there are service providers like AsiaBC that can offer guidance to overseas company owners. These well-versed agencies have the capability to recommend opening commercial accounts in alternative locations such as Singapore, Malaysia, Mauritius, St. Kitts & Nevis, etc., which could more closely align with their specific business requirements.
Please note that the approval of a business account in these jurisdictions may vary depending on client preferences and could have a different cost. Registering your company in HK is still highly advisable to enhance the chances of success.
05 | Are there any alternative countries to open my bank account?
Absolutely. Jurisdictions like Malaysia, Switzerland, Mauritius, St. Kitts & Nevis, among others, offer excellent alternative banking destinations for remote corporate account openings, regardless of whether you register a company in Hong Kong or another jurisdiction (assessments are conducted on a case-by-case basis).
Aside from opening an overseas commercial account, entrepreneurs can also opt for FinTechs (Financial Technology), a type of digital solution that offers global remittances, international payments, and issues IBAN and swift codes. FinTechs in Hong Kong are under monetary protection since their custodian partner banks are licensed ones that are being regulated, and therefore such accounts have become a popular choice for fast-moving startups that have just finished their company formation online.
About Accounting & Taxes …
01 | What is zero tax for a registered company in Hong Kong and who is eligible to apply?
Hong Kong is renowned for its company formation incentives, following the Territorial Source Principle of Taxation. This means that a registered company in HK whose operation and profits are gained inside the region will be subjected to HK’s profits tax collection. Comparatively, a HK registered company that operates and drives an income outside the city is not subjected to profits tax in HK.
Zero tax is a key financial incentive for companies undergoing Hong Kong company registration. It allows a HK registered company to waive the standard corporate tax of 8.25 – 16.5% on assessable profits. To be eligible for zero tax benefits, a Hong Kong registered company must demonstrate that it has no activities in HK and that its income is derived from operations outside the jurisdiction. This is achieved through an ‘offshore claim’ application, which confirms the company’s offshore status with the IRD.
The process for claiming this tax benefit requires meticulous documentation and is assessed by the IRD on a case-by-case basis. Companies seeking to maximize their tax efficiency through company formation services should ensure all business and financial records are thoroughly prepared. Our tax consultants can assist you in leveraging these benefits as part of our company formation online services and company registration in Hong Kong.
For those who are considering this strategic approach to taxation, we invite you to connect with our team for personalised advice. Moreover, our blog offers a wealth of information on ‘offshore claim’ services provided by AsiaBC, which is just one aspect of our 360° all-round support for Hong Kong company registration. Whether you’re in the initial stages of registering your company or looking to refine your tax strategy, AsiaBC is here to provide the assistance you need every step of the way.
02 | When to file my first audit report and Profits Tax Return to the IRD?
Newly registered companies in Hong Kong receive their first Profits Tax Return within 18 months after company formation, and a submission period of 3 months will be given to business owners to get the accounting records ready for submitting their first audit report with the completed tax return to the IRD. Remember to prepare your accounting records and audit report on time since your Profits Tax Returns will be issued yearly. It’s an essential duty for company registration Hong Kong that startups shall bear in mind and not get penalized due to late submission.
03 | Can I set my corporate tax deadline?
Absolutely. You can set your financial cut-off date as 31 December or 31 March, but most foreign entrepreneurs with Hong Kong company registration choose 31 March to align with the Hong Kong Government’s fiscal cut-off date. Some may choose 31 December to match with their overseas company accounts. The tax filing deadline will vary based on your cut-off date, and please read our recent blog about Tax Optimisation here for more details on company formation in this place.
Furthermore, selecting an alternative month for your financial year-end is also possible, according to your business needs. It’s important to weigh all the implications thoroughly to ensure a sound long-term fiscal strategy, particularly upon completing Hong Kong company registration. If you’ve recently finalised company formation online and need guidance on setting your tax deadline, our seasoned consultants are ready here to assist. Feel free to request professional advice tailored to the specifics of your company incorporation in HK.
04 | Is it possible to do accounting and audit by myself?
Of course. Keeping yourself familiar with your business’s cash flow statements, profit and loss accounts, balance sheet, trial balance, and general ledger is an advantage. However, please be reminded that your audit work is required to be taken care of by a Hong Kong Certified Public Accountant (CPA). Also, if your self-preparing accounting records are not organized in a proper way, your appointed CPA may not be able to use them to proceed with auditing. Therefore you have to be thoughtful and avoid wasting your time unexpectedly in the end.
Engaging with a proficient company formation services provider can significantly alleviate your workload and help keep your financial affairs in order, especially if you’ve gone through a proper Hong Kong incorporation. Many startups or foreign entrepreneurs who have initiated company registration in Hong Kong choose to outsource their accounting functions by hiring a reliable local provider, enabling them to concentrate on the growth of their venture more effectively. Additionally, for a business that has recently completed company registration in Hong Kong, having well-prepared accounting and audit reports provides a strong base for future tax-efficient planning, which becomes invaluable as your business begins to generate profits.
05 | What services can AsiaBC provide to take care of my tax and accounting needs?
Managing taxes on your own requires time and effort and, if not handled properly, can seriously impact your business growth and earning power. For businesses, especially those involved in incorporation in Hong Kong, navigating the local tax landscape is crucial for maintaining compliance and optimizing growth. AsiaBC offers a comprehensive suite of services designed to cater to the tax and accounting needs of businesses at every stage, from company registration to ongoing financial management.
New company formation clients can utilise AsiaBC’s under-one-umbrella accounting, audit, and tax arrangement services. This approach simplifies communication, ensuring that all local Government compliance requirements are met promptly and efficiently before their due date.
Our team of consultants is well-versed in Hong Kong incorporation requirements and will assist in preparing your accounting records for annual audit reporting. Acting as your tax representative, we offer strategic advice for filing your HK Profits Tax Returns in the most tax-efficient manner possible. What’s more, you can elevate your company registration experience by utilising our 4-in-1 Accounting Package alongside AsiaBC solutions for Registered Office Address and Company Secretary, all conveniently coordinated through one platform.
With AsiaBC, you can rest assured that important correspondences, such as Business Renewal Demand Notes, Employer’s Returns, or Profits Tax Returns, will never be missed. We proactively remind our clients about how to handle different notices and provide consistent follow-up on items requiring immediate attention, ensuring your HK registered company remains in good standing.
Why choose AsiaBC company registration?
We go beyond the extra mile to give you a seamless Hong Kong incorporation process.
1Savvy Service Provider
With 13+ years of experience in company formation services, our team has served 3,000+ clients and successfully built strong connections with overseas partners.
2Direct Pricing System
No hidden charges, just pure services. Providing quality company formation solutions without breaking your budget, we are transparent with our costs and benefits.
3Stress-Free Application
Our hands-on incorporation HK specialists always make necessary follow-ups and never miss a chance to keep you posted with your company registration progress.
4Trusted Advisors
Knowledgeable in Hong Kong company registration and banking process, our team goes beyond the extra mile to give you tailor-made advice and end-to-end assistance.
524-Hour Support
We are just one DM away. Your time is of the essence and our reliable experts are always on stand-by to answer your Whatsapp message on incorporation Hong Kong anytime.
6One-Stop Platform
Never stress out looking for an effective solution after you register a company in Hong Kong. We have everything you need from A to Z so you can focus on your business.
Other services we excel at
Here are other ways we can help to grow your business while you can relax.
Xero Cloud Accounting & Tax
for Easy Bookkeeping
Control your business finances smoothly with every entrepreneur’s perfect partner – Xero. It’s a cloud-based accounting platform embedded with AsiaBC’s audit and tax arrangement that lets you efficiently manage your newly registered company’s bills, invoices, and payroll anywhere, anytime.
Using Xero accounting documents, you will also get a designated person to monitor and file taxes for your business – a complete e-bookkeeping and tax solution for incorporation Hong Kong.
 Founder, Santex Aerospace  Shahzad Ahmad  Founder, King Traders  Florina Gjinovci |
Equip your business with Hong Kong incorporation blogs
Learning never stops. Boost your practice with our hot blog topics.
HK Insider’s Playbook : Ultimate Smooth Company Setup & Next-Gen Bank Guide4 min readShow more
Hong Kong is one of the world’s best cities for company registration. Businesses can expand more quickly and easily in this city because company formation online in this globally recognised jurisdiction is rather simple, has a secure business environment, and has a low-tax collection system plus stable financial point.
Choose Asia’s World City as your startup gateway and explore its strategic location that connects your business to neighboring regions, particularly mainland China. Incorporation in Hong Kong is straightforward, allowing you to start operating your company within 3 to 5 days. Moreover, Hong Kong boasts a low profits tax rate of 8.25% (one of the lowest globally) with no withholding tax on dividends or interest, no capital gains tax, and no estate duty. Entrepreneurs eager to register a company in Hong Kong will find the city’s business culture supported by a skilled and adaptable labor force.
Prepare to establish your business empire in Hong Kong and familiarise yourself with the various business structures that can optimise your tax management and strategic planning. The preferred business structure for registering a company in this city is the Limited Liability Company, which safeguards the company’s assets against potential risks and liabilities. Begin shaping your corporate identity by selecting a unique and representative business name for your HK company registration. You have the flexibility to choose an English name, a Chinese name, or a combination of both, provided it is not already in use by another entity. After you successfully register a company in Hong Kong, you will be able to open a business account with leading HK banks or FinTech companies, enabling you to conduct global transactions with ease.
Hong Kong has become a worldwide monetary centre with its impressive record of 274.6 billion USD FOREX trade and for housing 71 global banks. All more reasons why entrepreneurs register company in Hong Kong and open a business account here, and with digitization and internet exposure, digital banking has emerged — FinTech and Virtual Banking.
As an overview, FinTech represents a good alternative, offering multi-currency accounts after company formation and enabling instant global money transfers for newly HK registered companies. However, these service providers do not operate physical branches like traditional financial institutions. Virtual Banking, in contrast, is a digitised banking service that meets the needs of local and international clients through the internet at any time and from any location. It is important to note that this type of banking also lacks on-site branches and staff for in-person interactions.
Entrepreneurs who register a company in Hong Kong may also consider opening overseas bank accounts. Options include jurisdictions like Mauritius, St. Kitts & Nevis, and Puerto Rico, which allow for multi-currency transactions without extra fees. These accounts also offer the benefits of credit and debit cards for different currencies, and they provide access to investment opportunities and reduced rates on international payments.
When opening a corporate account for your Hong Kong registered company, you will need to submit all relevant documents including a completely filled-out online application form with your signature. It’s much better to receive a pre-approval assessment from an experienced agent first to know your success rate or what areas you can improve to meet the criteria.
A bank officer will arrange a video call interview to confirm your application within 7 to 20 working days, and directors must be physically present in Hong Kong. But some financial institutions are now utilising an online application process due to the earlier pandemic on a case-by-case basis.
Be aware that traditional financial institutions in Hong Kong adhere strictly to the Know-Your-Client (KYC) procedures to thoroughly assess your application. To enhance the likelihood of approval after company formation online, it is advisable to provide a KYC certificate, certified copies of the identification for all directors, beneficial owners, and shareholders with 10% or more shares in the company, as well as bank references. Utilising company formation services that specialise in Hong Kong incorporation can make the process easier and help guarantee that your company registration HK meets all regulatory requirements and is completed smoothly.
First Things First : 3 Must-Do Priorities for Hong Kong Company Formation5 min readShow more
Are you interested in doing business internationally? Hong Kong is the definite ‘company registration’ place to be (and we will let you know why).
Its former British ruler brought a highly independent legal system to Hong Kong, which has remained a business-friendly city-state in the Heart of Asia, making it an excellent jurisdiction to register a company. The Heritage Foundation bestowed Hong Kong the title of ‘World’s Freest Economy’ for many consecutive years. The US-based research institute praised the Hong Kong Government for maintaining a global economy that supports international businesses with a simple and low-tax collection system – an aspect highly attractive for startups looking to register company in Hong Kong and for those pursuing company registration in Hong Kong.
If you’re an entrepreneur ready to dive into Hong Kong’s business community, here are 3 key areas for you to work on first before registering your company in HK :
Focus 1 : Hong Kong Company Registration
The Hong Kong Government allows individuals to register company that can either be a Sole Proprietorship, Partnership, or Limited Liability Company (LLC) and operate their business in the region. Without a doubt, an LLC is the best fitting company structure for foreign entrepreneurs when it comes to company registration since Sole Proprietorship and Partnership are limited to Hong Kong residents who possess valid Hong Kong ID cards.
The region’s flexibility regarding the business structure makes it easier to do company registration in Hong Kong. Such company formation does not have restrictions on the nationality of the company’s shareholders and directors. But keep in mind that there should be at least one director who is 18 years old and above and can be a non-HK resident, and a maximum of 50 shareholders upon company registration HK.
Focus 2 : Get Ready for Tax, Accounting, & Statutory Audit
Your business will receive its first Profits Tax Return within 18 months after its company registration, in which you must select one date as your fiscal year. Based on your chosen end date (usually 31 December or 31 March), the IRD will decide the deadline for your next tax return submission.
Once you have settled your Profits Tax Return due date, there is no need to update the company’s financial statement immediately. Simply prepare all additional documents right before your due date. Make sure to choose the best accounting period for your cut-off date based on the expected or recorded number of sales.
It is highly recommended to enlist the services of a professional accounting and bookkeeping specialist. A proficient provider of one-stop-shop company formation online services will be equipped to guide you through Hong Kong’s tax policies and ensure you never miss a deadline. By leveraging such company formation services, you can focus on growing your business while staying compliant with local regulations.
Focus 3 : Opening a Commercial Account
After completing company registration, the next step is to prepare for opening a Hong Kong banking account to manage your business finances, taxes, and related matters. However, it’s important to note that traditional Hong Kong financial institutions undergo a careful and lengthy process. They strictly adhere to Know-Your-Client (KYC) and due diligence procedures to meticulously screen all applications and accurately verify their clients’ sources of funds.
With the rise of technology, FinTechs (Financial Technology) provide an excellent interim solution for businesses that have recently completed company formation online. While waiting for a formal commercial account, newly registered company entities can continue their global transactions. These platforms facilitate entrepreneurs in receiving payments from customers, remitting funds to suppliers, and providing IBAN and swift codes for traditional money transfers. This convenience is why such alternatives are gaining popularity among startups post-company formation services.
However, it is best to remember that FinTechs like Airwallex and Currenxie are technically not banks. Still, they benefit from monetary protection as their custodian bank partners are licensed and regulated by the Hong Kong Monetary Authority (HKMA). Furthermore, these partners are covered by the Deposit Protection Scheme, which affirms that your financials are secure after the Hong Kong incorporation process.
For a comprehensive overview, read our full blog below and discover the detailed 3-step guide on company registration Hong Kong. This guide is an indispensable resource for navigating the incorporation in Hong Kong process with ease.
Starting a Small Business? 6 Key Steps to the Right Company Registration in HK4 min readShow more
“How to launch a small business?” – The most common question aspiring business owners ask when they are ready to turn their ideas into reality. But registering a company without prior experience may be a bit too adventurous, particularly if you don’t have a reference point to work from.
The key to a successful company formation is finding the product or service you want to provide for your target market, but developing one that will fit your audience’s wants or meet their needs takes time and effort. So, here are 6 key points to guide you in launching your right venture :
- Develop an effective strategy for your business growth by creating a detailed business plan, which is a pivotal step in the company registration process. Before initiating your online company formation, thorough planning can lay a solid foundation for your venture.
- Research your target audience and discover their interests through surveys, social listening, and interaction.
- Get a better understanding of your product and what differentiates you from your competitors.
- Take advantage of social media and promote your products or services on your chosen platform.
- Open a business account to track your expenses and monitor your spending easily. Before your application, document pre-assessment is usually provided by an experienced HK company registration agent to ensure your success rate.
- Register your company in Hong Kong to avoid legal issues and build a credible image for your potential clients and suppliers via a reputable jurisdiction.
Entrepreneurs’ most significant challenge is finding the right product or service that will perfectly work for their target audience. Up-and-coming company registration owners usually create their startup or small business that generates income out of their passion. Embracing company formation online streamlines the process, allowing them to focus on in-depth research, active social listening, and conducting surveys. These tools help them identify what they need to offer to their market that can solve an existing problem or fulfill a need.
Here’s a concise guide to methodically developing your business from scratch, focusing on crucial steps like completing the incorporation in Hong Kong process and effectively managing the ins and outs of Hong Kong company registration requirements.
From Taxes to China Market Access : Launch Your Dreams, HK Has Your Back4 min readShow more
Investors are drawn to register their companies in Hong Kong because it’s simple and reasonable. They also discover a wide range of benefits and advantages when they register company in this Asia’s World City.
In case you are still wondering, company formation in Hong Kong is a great choice for growing your business because such company registration does not have restrictions regarding the nationality of a company’s director and shareholders. As you may know, Hong Kong has held the record for being the World’s Most Free Economy for a long time because of the city’s competitive profits tax rates.
International entrepreneurs also value the area’s stability, robust business infrastructure, and the legality of incorporation Hong Kong. Incorporation in HK is perceived as compliant and legitimate, rather than a tax evasion strategy. Additionally, sourcing a skilled workforce is effortless when you register a company in HK, thanks to the local talent that is versatile, well-educated, and technologically adept. Moreover, English serves as the main business language, facilitating smooth and straightforward business operations, alongside Cantonese, the region’s other primary language.
Hong Kong is considered the best course to work with China because of its location on the global map. Plus, their Closer Economic Partnership Arrangement (CEPA) has opened up vast economic sectors to its products and ventures, significantly improving Hong Kong’s financial collaboration with mainland China. Some overseas SMBs or digital nomads opt for company registration in Hong Kong based on this unique incentive.
Launching a venture overseas might seem challenging, but with these substantial advantages, HK company registration positions your business for growth. For those eager to streamline the setup process, our company formation online portal offers quick and efficient solutions. Whether you’re pursuing company registration in Hong Kong or incorporation in Hong Kong, AsiaBC’s comprehensive service packages support every phase of your business journey. To discover more about beginning your entrepreneurial adventure, check out our full blog below – the perfect resource for company formation online guidance.
Why HK Remains Optimal to Start a Business & Get an Offshore Bank Account5 min readShow more
The quickest and easiest option to start your own business from scratch may be to register company in a reputable jurisdiction and world-class financial centre like Hong Kong. But other business owners might wonder: Is this a good moment for me to do incorporation in Hong Kong now, given the current unanticipated state of the world? Shall I simply put all of my company formation plans on hold?
Even though the earlier epidemic may have impacted your business strategy, Hong Kong continues to offer compelling advantages as a premier business hub. “Crisis creates opportunities,” as the saying goes, and the proactive measures taken by the Government affirm this. They’ve lowered a range of administrative costs associated with company registration Hong Kong and implemented substantial tax reliefs. These benefits are specifically tailored to support startups and SMBs interested in registering a company in Hong Kong, bolstering the sector and opening doors for new ventures.
Asia’s World City has the most stress-free remote company formation and local compliance solutions among many countries across the globe. Plus, online multi-currency accounts are well-developed and instantly available at a fair price. We can say that this is the ideal time to do your first HK company registration.
Here are the top three hot measures you can benefit from when you register company in HK. Take great advantage of these useful perks like ‘0’ Business Registration Fees, ‘0’ Company Annual Returns for 2 years, and 100% tax breaks for businesses and individuals.
As the world moves beyond travel restrictions, your wellbeing remains a priority. AsiaBC promises to be the bedrock of your business initiatives by simplifying the process of registering your company. With our expert guidance, all steps of incorporation HK can be completed remotely, ensuring you can establish your business presence from the comfort of your home with ease and confidence.
Now, schedule a complimentary online consultation session with our company formation experts, who are ready to provide personalised advice and address all your questions about company registration in HK. Following your company formation, our team will assist with the setup of a multi-currency digital banking account through top-tier FinTech companies such as Airwallex, RD Technologies, WorldFirst, among others. This service, included as part of our comprehensive package, guarantees that you can begin business activities promptly and without interruption.
The Leading Hubs for Doing Business in Asia : Hong Kong vs. Singapore4 min readShow more
Entrepreneurs must begin somewhere, but where exactly? Which region in the globe offers the best chances for your company formation and business growth?
Certain factors can make or break your business’s future – market, suppliers, accessibility, convenience, and more. These elements are what business owners keep in mind when choosing the right location to register company.
As part of the 4 Asian Tigers, which also include South Korea and Taiwan, Hong Kong and Singapore consistently vie for the title of the most business-friendly city in Asia. Here are the key reasons these 2 metropolises are top choices for registering a company and why they should be considered for your company formation list as well :
In the Heart of Asia – Hong Kong and Singapore connect their businesses to different countries and neighboring Asian regions, giving them a vast network and market for international entrepreneurs after finishing company formation.
Hong Kong is the best place to register company when doing business with mainland China, where you can easily travel back and forth to Shanghai, Beijing, and other cities. In comparison, Singapore is famous for its trading activities, boasting excellent harbors and one of the busiest airports, making it ideal for company formation or company registration.
Tax-Friendly Framework – Hong Kong follows a 2-tier tax administration with a profits tax rate of 8.25% for the first HK$2 million net profits, a standard salary tax rate of 15%, and a rate of 15% for property tax. The 8.25% profits tax rate is very appealing for entrepreneurs to go for Hong Kong company registration.
Singapore, on the other hand, has a single-tier tax system with a 17% tax rate for profits tax, a 15% salary tax rate for non-residents, and a property tax collection based on the annual value of the property. This tax-friendly environment makes Singapore an attractive destination for company formation with its favorable tax rates and incentives.
Dynamic Workforce – Incorporation Hong Kong and Singapore offer a competent workforce that is highly motivated, skilled, versatile, and English-speaking human resources, each with its area of specialisation.
Hong Kong’s population focuses on finance and business, deeming it Asia’s Financial Hub. At the same time, Singapore takes pride in IT and software development firms and is recognized as Asia’s Tech Hub.
Stable Economy – Hong Kong incorporation and Singapore company registration offer robust economies, cutting-edge telecommunications, and competitive infrastructures, and that’s why both are popular jurisdictions for company formation online.
But Hong Kong was labeled as the World’s Freest Economy because of its free trade, free enterprise, and free-market regulation. While Singapore became a dynamic exporter mainly in electronics, machinery, and equipment, making it easier for business owners to find buyers. These factors contribute to the attractiveness of both cities for company formation and company registration.
Opening a Commercial Account – Both Hong Kong and Singapore boast an array of prestigious financial institutions and top-tier FinTechs catering to international business transaction needs. However, these cities adhere rigorously to the Know-Your-Client (KYC) procedure to meticulously vet applications, ascertain the origin of funds, and anticipate the types of transactions expected in the accounts. Consequently, engaging experienced company formation services for a pre-assessment is vital to gauge the likelihood of successfully applying for a commercial account in either jurisdiction following incorporation in Hong Kong or company registration in Singapore.
Due to the lengthy application process at traditional financial institutions, some business owners choose FinTechs (Financial Technology) as an alternative to conducting instant global transactions, also serving as a backup account while waiting for the approval of a traditional one.
Easy Company Registration – Incorporation in Hong Kong is straightforward and can be completed in just 1 day. Since there are no nationality restrictions, company registration HK requires only one sole director, who can be a non-HK resident, and one HK resident company secretary. Most company formation services providers can assist with this requirement. In contrast, when registering a company in Singapore, the entity must appoint at least one resident director and one company secretary; both must be Singapore residents.
Selecting the “best” or “perfect” location for your company registration plan may be too broad an aim. Your individual preferences, needs, and various other factors play a crucial role when deciding where to register your company. With the convenience of company formation online, both Hong Kong and Singapore offer unique advantages and potential drawbacks for the growth of your business. Extensive research, detailed analysis, and strategic networking are essential to determine the most suitable location for establishing your company.
FinTech Frontier : Top 7 Digtial Banking Choices vs. Traditional Banks4 min readShow more
Are you having second thoughts about exploring new global financial markets because of the lengthy and tedious procedures of opening a corporate bank account? Do you constantly wonder how to shorten the time required for this process? Are there any alternatives besides traditional financial institutions? If your answer to these questions is a big YES, learn about the available FinTech options for your business now: Airwallex, RD Technologies, WorldFirst, Currenxie, Status, and Rapyd (Neat). These innovative solutions not only simplify your Hong Kong incorporation but also streamline your global business transactions, making it a hassle-free experience for entrepreneurs like you.
Opening a traditional bank account has long been a major challenge for small-scale digital nomads, often standing in the way of their entrepreneurial aspirations. The global pandemic highlighted the need for company registration processes that support remote operations, including digital banking account opening. Keeping pace with the rapid growth of Hong Kong’s FinTech sector, company formation services have adapted, now offering international entrepreneurs the convenience of online company formation and FinTech account services, circumventing the requirement for physical travel.
In today’s digital age, selecting the ideal digital banking platform from an array of options can be a daunting task for entrepreneurs with a Hong Kong registered company. To assist you in navigating this landscape with greater clarity, we’ve curated a list of the top 7 FinTechs, detailing key features to consider when choosing the right financial partner for your business needs :
Airwallex – A flexible option for digital entrepreneurs engaged in global trading, Airwallex simplifies the company formation process with a versatile multi-currency account supporting HKD, USD, EUR, RMB, and 7+ more. With no opening or monthly fees and a zero minimum balance requirement, it’s an ideal choice for those undergoing company registration in Hong Kong.
RD Technologies – Catering to the needs of businesses in the midst of Hong Kong incorporation, RD Technologies offers wallet-to-wallet transfers, ideal for local FPS and international wire transactions. Available in HKD, CNY, USD, JPY, EUR, and more, RD Technologies bolsters the company formation online experience with additional services like a company registry search, inviting businesses from Hong Kong, Commonwealth, and EU countries to enjoy their services.
WorldFirst – A convenient and flexible solution for Asian startups, WorldFirst streamlines company formation by offering a digital banking account within 48 hours, crucial for entrepreneurs aiming to initiate a global business from Hong Kong, Singapore, or China. Their multi-currency account, which includes HKD, USD, EUR, GBP, and 6+ additional currencies, removes the hassles associated with traditional financial institutions by eliminating opening and monthly fees, and requiring no minimum balance, thereby supporting company registration Hong Kong.
Currenxie – Suitable for entrepreneurs in need of timely access to domestic accounts within the EU, UK, US, CA, or AU, Currenxie offers a significant advantage for online company formation. With Amazon PSP approval and features such as the Payout API and FEC, it’s a robust platform for those undertaking incorporation in Hong Kong to facilitate a smooth integration. Currenxie stands out by accommodating major currencies like HKD, USD, EUR, RMB, and 16+ others, without imposing opening or monthly fees, and with no minimum balance requirements, making it an attractive financial partner for business owners throughout the process of HK company registration.
Statrys – Designed for business owners prioritizing international payments and customer service during their company formation journey in Hong Kong, Statrys offers streamlined account opening with just a Business Registration and a director’s passport. This platform supports multiple currencies including HKD, USD, EUR, GBP, and 7+ others. There’s no fee to open an account, although certain special cases might incur charges depending on incorporation location or company structure complexity. With a modest monthly fee of HK$88, clients enjoy unlimited incoming payments without any transaction limits, complementing the Hong Kong incorporation process.
Rapyd (Neat) – For corporate expense management, Rapyd is a prominent FinTech alternative in the Hong Kong incorporation arena, offering a debit card and supporting major currencies including HKD, USD, EUR, and GBP. Significantly, Rapyd does not charge an opening fee, nor does it impose monthly fees or minimum balance requirements. This fee structure enhances the HK company registration experience by providing businesses with a straightforward and cost-effective way to manage their finances.
Boost Your Image : 4 Reasons Why an Office Address in HK Enhances Trust5 min readShow more
The Companies Registry of Hong Kong mandates that entrepreneurs maintain a registered office address when they register company in the region. This requirement ensures that your registered company HK has an official business address, which can enhance your corporate image, especially if the address is in a prestigious commercial area.
However, there are a few guidelines a registered company should observe when processing company formation online, such as ensuring the address given will receive all legal documents, notices, and statements. Business owners can use a home address if they have permission from the rental agreement and will not invade their privacy. Keep in mind that using a P.O. box is strictly not allowed.
Using a registered office address provided by a HK company registration agent allows you to keep your personal address private. It also gives the Government and your suppliers a specific location for business correspondence and can reduce office-related expenses such as utilities, supplies, and equipment. Furthermore, it aids in establishing a credible image, ensuring that partners and clients have a positive perception of your company registration HK.
Connecting with a reliable company formation services provider such as AsiaBC can facilitate a smooth, efficient, and compliant process for your Hong Kong company registration. Newly registered companies in HK have the opportunity to elevate their corporate image through AsiaBC’s provision of a registered address for one year or more. This service includes forwarding Government and bank mail to a specified destination chosen by the client, as well as digital corporate stamps.
Discover why a premium HK office address is essential for company registration in HK by exploring our full blog below.
Colours, Logo & Beyond : Creating a Captivating Corporate Identity for Your Brand4 min readShow more
Establishing a vibrant corporate identity is essential in the modern competitive landscape, particularly for businesses navigating the process of Hong Kong company registration. This blog explores the intricate art of developing a cohesive visual and verbal identity that not only engages clients but also differentiates you from your rivals.
Your brand’s essence is more than just a logo. It’s the unique personality and values of your company, conveyed through logos, color schemes, fonts, and brand messaging. These elements work in harmony to establish a strong corporate identity, which is vital for brand differentiation and recognition. This is notably important when you’re navigating the competitive waters of registering a Hong Kong company and striving to make your mark immediately after your company formation online.
A sound corporate identity stands as a beacon of your business’s professionalism and trustworthiness – traits that consumers prioritise in their decision-making after searching for Hong Kong-registered companies. Moreover, a well-defined identity bolsters market growth and fortifies customer allegiance, milestones that are significantly pivotal in the wake of Hong Kong company registration.
While often confused, corporate identity and brand identity are distinct concepts. Corporate identity includes the visual aspects, such as logos and typography, serving as an extended part of step-1 company formation services. In contrast, brand identity encompasses the brand’s values and messaging. Both are essential after registering a Hong Kong company, contributing to how customers perceive and interact with your brand.
AsiaBC is your partner in establishing a corporate identity that commands attention. Our Corporate Identity Service is tailored to assist startups and SMEs, especially those undergoing company registration in Hong Kong. We focus on creating compelling business cards, logos, and letterheads that communicate your brand’s value proposition – a critical step after company formation online .
In summary, a strong corporate identity is fundamental to your business’s success, especially following your Hong Kong company registration. AsiaBC offers comprehensive company formation services, which extend beyond mere registration. Our corporate identity solutions encompass the creation of a unique brand persona, professional logo design, customised typography, and the production of cohesive marketing collateral, including letterhead, business cards, and other branded materials.
Our services extend to ensure that every aspect of your corporate identity aligns with your business goals and resonates with your target audience. By partnering with AsiaBC for your startup and corporate identity needs, you can confidently navigate the intricate landscape of Hong Kong’s company registration requirements. We are committed to helping you build a reputable, recognisable brand that stands out in the marketplace.
Whether you’re looking for end-to-end company formation online services or need to understand the intricacies of Hong Kong register company procedures, AsiaBC is here to help. Our expertise in Hong Kong company registration is unparalleled, providing you with the necessary tools and support to thrive in Asia’s World City, the gateway to a vibrant financial epicenter.
Power Up Your Finances : Top 3 Reasons Why High-Flying Startups in HK Prefer Xero4 min readShow more
Do you dream of effortlessly managing your business finances, even when asleep at night? Imagine accessing your financial information from anywhere in the world, right at your fingertips. Since its launch in 2006, Xero Accounting Software has revolutionised company formation online, transforming how businesses operate, simplifying financial management to keep you on top of your business in real-time.
Xero gives access to affordable bookkeeping, reporting, bank reconciliation services, and handling tasks like payroll and invoicing. It is designed specifically for small businesses and registered companies in Hong Kong, empowering growth by increasing efficiency, improving revenue flow, and optimising operations.
With cloud-based flexibility, this accounting software provides the ability to manage your HK registered company’s financials from any device. It simplifies essential tasks such as bookkeeping and invoicing and offers the advantage of real-time reporting, which is crucial for informed decision-making.
The platform is also revolutionizing collaboration and workflow for startups and small businesses, significantly contributing to economic expansion. With small and medium-sized enterprises comprising the vast majority of business entities in Hong Kong and providing over a million jobs, the software plays an integral role in energising the city’s dynamic economy and enhancing the Hong Kong company registration landscape.
Xero optimises the management of your business finances, ensuring that you remain in control. While there are numerous advantages to integrating Xero into your business, a few key reasons stand out :
- Improves cash flow and enables faster payments. Xero sends online invoices to speed up the payment process for your Hong Kong registered company. It has a wide selection of professional and customisable invoice templates to suit your needs.
- Easy financial management and seamless collaboration. Startups that avail company formation services with in-house CPA can be costly. Xero’s user-friendly interface makes accounting tasks simple and accessible, creating a convenient solution for businesses of all sizes.
- Affordable and easy to use. With options for every budget, you can choose a plan that suits your needs. From the USD$20 starter plan to the USD$40 premium plan, Xero provides features like bank transaction reconciliation, bill processing, and invoice generation. Plus, a Hong Kong registered company can enjoy a free 30-day trial to experience the convenience firsthand.
Hey Tax-Savvy HK Startups! 3 Direct Taxes You Should Know for Maximum Savings5 min readShow more
Every entrepreneur aspires to achieve global recognition for their brand, and it takes guts to take that leap of faith. Still, the outcome is always rewarding when you select the ideal jurisdiction for your company formation.
This is your sign to expand your business internationally! Growing your company means more than just establishing a strong reputation; it also involves thriving by venturing into larger markets.
Expanding your business internationally opens up new opportunities. It allows you to tap new customer bases, explore emerging markets, gain access to skilled professionals, boost sales, and reduce costs like materials, labour, import and export. Registering a company in Hong Kong is the perfect gateway to take your venture to the next level.
When venturing into global markets, business owners carefully consider a country’s economic and political stability, as these factors greatly influence their business’s future. Entrepreneurs often regard Labuan, much like Hong Kong, as an ideal option for company formation due to its favourable company registration laws and attractive tax benefits. Labuan offers zero or low taxes depending on the specific type of offshore company formed, making it an appealing choice for those looking to expand internationally but are considering alternatives to Hong Kong.
Nevertheless, with the current global situation, specific countries, such as the Federal Territory of Labuan, are reevaluating their tax policies, leading businesses to no longer consider them tax havens. As an example, Labuan recently implemented an increase in its corporate tax rates, as outlined below :
- Labuan Companies that meet the substance requirements are subject to a 3% tax on their net audited profits.
- Labuan Companies that fail to comply with the substance requirements face a 24% tax rate on their net audited profits.
- The tax rate for Pure Trading Companies in Labuan is yet to be determined. Companies should directly contact the Inland Revenue Department for clarification.
- A tax rate of 3% is applied to the net audited profits of Licensed Entities and Special Entities in Labuan. These entities need to adhere to the substance requirements to maintain their good standing for future licence renewals.
If you are searching for a thriving hub that can drive your business towards success, we strongly suggest considering Hong Kong incorporation, especially if Labuan was not your choice. Asia’s World City is the perfect location for your expansion.
For several reasons, small and medium enterprises and established entities choose to register their companies in Hong Kong. These include the convenience of HK company registration, the availability of readily accessible company formation services, a strategic location, competitive telecommunication and transportation infrastructure, a strong labour force, and the exceptional quality of life that it offers. However, one standout benefit that entrepreneurs take advantage of is Hong Kong’s simple and low tax rate system.
We have outlined below the compelling factors that make registering a Hong Kong company highly attractive to business owners :
Profits Tax
All incorporated businesses are subject to the Profits Tax, operating under a 2-tier tax system. A tax rate of 8.25% is applied to the first HK$2 million of net profits and 16.5% for net profits above HK$2 million.
Salaries Tax
Individuals are subject to the Salaries Tax, which is based on their net chargeable income and follows a progressive tax rate. The application of tax rates is as follows :
| Net Chargeable Income (in HKD) | Rate |
| $0 – $50,000 | 2% |
| $50,001 – $100,000 | 6% |
| $100,001 – $150,000 | 10% |
| $150,001 – $200,000 | 14% |
| Above $200,001 | 17% |
| Net total income (no allowances) | Standard rate 15% |
Property Tax
Enterprises renting out a property in Hong Kong are subject to a standard Property Tax rate of 15% on the property’s net assessable value.
In addition to having the lowest tax rate worldwide, Hong Kong does not impose additional taxes, including :
- Retention charge on profits or interest
- Business charges
- Capital additions expense
- Inheritance charge
- Capital gains
- Withholding tax; and
- Tax for imports
Whether you’re a startup or an established company with expansion plans, Hong Kong’s simple tax system presents a vibrant opportunity to foster your business’s growth and compete globally. Opting for HK company registration in this dynamic city provides access to robust company formation services that can streamline the process of setting up your business. It offers a conducive environment for your venture to flourish and build a strong presence in the international market.
Newcomers in the business world often find taxes overwhelming and confusing. However, having a good grasp of the basics before registering your HK company gives you an edge, empowering you to establish a solid business foundation and avoid potential financial mistakes in the future.
Fueling Global Connections : Actionable APEC Travel Card Tips for Entrepreneurs6 min readShow more
“Investment in travel is an investment in yourself” – and as an entrepreneur navigating the dynamic business landscape, travelling becomes a strategic move for company formation services, going beyond just experiencing new cultures and exploring picturesque destinations. It becomes a gateway to endless opportunities that build strong connections with suppliers, gain insights into foreign markets, and expand your business globally.
The APEC Travel Card (ABTC) simplifies the travel procedures for business professionals engaging in company formation and other activities within the 21 member countries of the Asia-Pacific Economic Cooperation (APEC). The ABTC promotes economic collaboration and enhances trade opportunities for eligible individuals with accessible and efficient entry and exit processes within the APEC region.
The ABTC grants individuals a 5-year ID card validity and allows them to stay in each territory for 60 or 90 days, exclusively for business-related purposes such as company registration. Applicants planning to travel for leisure must apply for a tourist visa.
The APEC Travel Card marks the beginning of a new era in international business travel, driving entrepreneurs to explore new frontiers. Here are 5 influential aspects that showcase how the ABTC boosts operational productivity and fuels global connectivity :
- Swift entry. Convenient and efficient business travel with faster immigration processing and simplified travel procedures in APEC member economies, minimising company registration delays.
- Visa-free or visa-on-arrival access. The ABTC empowers cardholders to effortlessly enter participating countries for business trips by eliminating the need to apply and pay for individual visas, giving more time and money for company formation.
- Multiple entries and extended stay. ABTC cardholders have the advantage of multiple entries to APEC member countries valid for 5 years and are allowed for an extended stay of up to 90 days per visit.
- Preferred lane. Specialised lanes or fast-track immigration channels are made available at airports and other entry points, bypassing regular queues and enhancing the overall travel experience for individuals planning to register company in Hong Kong or other APEC member territories.
- Networking on a global scale. It facilitates the expansion of business networks, trade, and investment opportunities within the APEC region, enabling professionals to enhance their professional credibility and establish valuable connections with potential partners for registering a company in Hong Kong or other jurisdictions.
APEC Member Countries
Experience the vibrant collection of ABTC member countries that foster cross-border collaboration, innovation, and growth within the dynamic global business landscape :
Australia, Brunei Darussalam, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, The Philippines, The Russian Federation, Singapore, Chinese Taipei, Thailand, Vietnam.
Canada and the United States are two APEC member economies who are currently transitioning into the ABTC program.
Eligibility Criteria
- Must be a citizen of one of the APEC member economies.
- Should be actively engaged in trade, services, or investment activities related to the endorsing economy.
- Must be a frequent traveller for business-related matters.
- Should have a clean criminal record and be of good character.
Requirements
- Completed application form.
- Valid passport with 6 months validity.
- Business documents involved in trade, services or investment activities related to the endorsing economy.
- Proof of international travel related to business matters.
Processing Time
- The processing time can vary depending on the country, but it generally takes 2 weeks to process.
Travelling goes beyond leisure adventure but acts as a strategic gateway for entrepreneurs to establish valuable connections, venture into new markets and stay ahead of industry trends.
Experience stress-free business travel across Asia-Pacific borders with AsiaBC’s latest offering – the APEC Travel Card. This card not only ensures easy travel but also facilitates seamless company registration in Hong Kong, paired with a leading bank account that requires your physical presence for application.
This new service is designed to support entrepreneur travellers frequently on the move to expand their businesses. Our dedicated team handles the entire ABTC application process, from the initial documentation to responding to queries, securing a hassle-free experience. This allows entrepreneurs to dedicate more time and energy to HK company registration and the growth of their business.
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