Basically, everyone in Hong Kong can become self-employed and start a business. You have the options of setting up a representative office or a branch office in Hong Kong, operating as a sole trader, running a company or a partnership.Hong Kong is one of the main economic, financial and service centres in Southeast Asia / Far East and is of central importance as a hub for trade with China. In this small (1097 km ²) and densely populated area (7 million inhabitants), there are a variety of motives for starting a company or building a presence:
- With its extremely powerful container port and air cargo centre Hong Kong is currently the eleventh largest trading nation in the world.
- Hong Kong has been chosen for the seventeenth consecutive year as the world's "freest economy". There are in Hong Kong for example, no trade barriers, no investment restrictions and no control of the currency market.
- Due to its excellent infrastructure and geographical location Hong Kong is an ideal regional headquarters location for Austrian companies dealing the People's Republic of China and the surrounding East and Southeast Asian markets.
- The government in Hong Kong is very business-friendly. Foreigners can set up companies in Hong Kong and operate without restriction. The capital and profit transfer is hardly subject to restrictions.
- The control system is very simple; the tax rates are low by international standards.
- Hong Kong has the status of a free port, through which most products (with the exception of alcohol, tobacco and fuel) can be freely imported and exported duty and tax free.
- The legal system is designed clearly and logically. The case law is efficient and smooth enforcement of judgments is guaranteed. British Common Law is still (at least until the year 2047) in application.
The most commonly used legal form in Hong Kong is Private Limited Company, referred to as "Limited" or "Ltd." respectively.
A limited company can be established by a domestic or foreign natural and / or legal person without personal appearance and without notarial form easily and quickly and registered at the Companies Registrar (Central Commercial Register in Hong Kong). The founder of the company is the shareholder (shareholder or member). He owns the company and he is entitled to the profits of the company.
Shareholder appoints at least one manager (CEO), who represents the company. He must not be based in Hong Kong. It is possible that the shareholder appoints himself as manager. However, it is not permissible to appoint a legal person as sole manager.
Both positions, i.e. shareholder and director, can be transferred to specialized Trustees (Nominees). We offer our clients this service.
The company also needs a secretary, and a registered office as a link to the commercial register and the local administration in Hong Kong.
Talk to us - We are your partner in Asia