Fall In Love With Onlinecompanyregister

Hong Kong is one of the top global cities to set up a business. Getting started is relatively quick and easy, setup costs are low and the overall environment encourages businesses to thrive. Onlinecompanyregister is always available to assist businesses in Hong Kong. Feel free to get in to

Furthermore, you’ll need to write a business plan (your agency should help you prepare it if you don’t have previous experience). In my experience, the business plan doesn’t need to be too detailed, but you do need to provide a direction for your business (what services you intend to offer, in which countries you intend to operate and so on).

 

In order to open a bank account, you’ll have to go to the bank’s branch in Hong Kong. There is no other way around this. However, for a small fee (1,000 HKD, which is already included in the incorporation package fee), your agency will provide you with an advising service, pre-screening service and will set up an appointment on your behalf with the bank you wish to use. If the bank allows it, an employee of the agency will also accompany you to the bank and follow up with the account opening status. The face-to-face interview shouldn’t take more than one hour.

 

Just remember to bring your passport and 10,000 HKD in cash (this will be the registered capital of the company and must be deposited into your company bank account on the same day you open the account).

 

Note that if you’re located in a Chinese designated coast city, such as Guangzhou, Shenzhen, Beijing, Shanghai or others, you can open the bank account at designated banks without traveling to Hong Kong. However, we still recommended that you visit Hong Kong so that you have more bank options to choose from and get faster approval. Another option is to open an alternative bank account in Hong Kong using one of the startups that are now offering this service.

 

These startups usually an easy and fast onboarding process. Most likely you will be able to send and receive money in different currencies, not only HKD. They usually offer integrations with Paypal, Stripe, Amazon Pay, and other merchants, which is a key feature, especially if you plan to sell online. In this case, you can usually open the account without visiting Hong Kong

 

These are not “banks”, and thus you might not expect all the services offered by a bank, such as for example: It’s also possible to open an off-shore bank account (for instance in Singapore or Switzerland) without visiting Hong Kong. I recommend that you discuss these details with your agency, as choosing the right bank is extremely important.

 

Besides low taxes and an extremely efficient system, the Hong Kong government also offers several grants and funding schemes to small and medium enterprises (SME). The SME Export Marketing Fund (EMF) provides financial help to advertise your company outside Hong Kong;

The SME Loan Guarantee Scheme (SGS) helps your company to secure a loan; The Innovation and Technology Fund (ITF) aims at strengthening technological and innovative enterprises; The Social Innovation and Entrepreneurship Development Fund (SIE Fund) offers resources to NGOs and other organizations that work on reducing social exclusion, poverty, and similar issues; The Patent Application Grant helps local companies and individuals to protect their own intellectual property via patents registration.

 

Note that the Hong Kong government defines an SME as a local company that employs less than 50 people in Hong Kong (for a non-manufacturing business) and a local company that employs less than 100 people in Hong Kong (for a manufacturing business). Note also that every funding scheme has its own criteria for eligibility, and that these criteria might differ greatly, according to the funding scheme.


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