Timelines for Pre and Post Company Formation formalities in Hong Kong
Hong Kong has one of the most efficient business incorporation systems in the world. Even foreign entrepreneurs can complete their company formation formalities in the city within a matter of a week without even being present in Hong Kong during the entire process. However, while the entire procedure might be extremely simple, you need to be aware of the pre and post company registration formalities and their timelines to effectively plan your business activities in Hong Kong.
Pre-Registration Formalities:
1) The first thing you would need to do is contact a professional Hong Kong company registration firm and ask them about the documents that are required to complete the company formation procedure. Arranging of the documents should be simple enough as the only things required are usually your address proof, passport copy, complete details regarding the proposed company in Hong Kong and the duly filed company setup application form. Once the documents are arranged, you need to courier this to the company registration firm in Hong Kong which might take a few days to reach depending upon the courier service you choose.
2) The next step is to get your proposed company name approved by the concerned authorities. Please note that unless the company name provided by you is rejected by the authorities, this step takes only about an hour to complete after which you can immediately proceed to actual company registration.
3) The final pre-registration formality is to actually apply for the company registration and complete the process. It takes about a week or so for this step after which your company incorporation certificate is issued and your Hong Kong Company comes into existence.
Post-Registration Formalities:
1) After your company formation has been completed in Hong Kong, you need to immediately proceed to opening of a corporate bank account. This may take anything between two days to more than a week depending upon the choice of the bank and also whether you are present in Hong Kong for account opening. It might take a week to open the corporate account if you are not present in Hong Kong and have to schedule a telephonic meeting with the bank executives.
2) Also within one month of company registration in Hong Kong, you will have to register with the Inland Revenue Department and acquire your Business Registration Certificate. Usually this step does not take much time at all and you can complete it within one month of company formation.
3) The final post-registration formality is to acquire business licenses if required for your type of company. This takes about 2 to 8 weeks depending upon the license you may need before commencing with business operations.
Author Bio
Bryan Wong is a business analyst in the Asia-Pacific region and in his free time writes business articles. In this article, Bryan talks about Hong Kong company registration firm and Opening a Hong Kong company.
Processing your request, Please wait....
