All the details of a Hong Kong company
General information, legal form, and share capital
General information about the jurisdiction of Hong Kong
Official languages: English and Chinese
Political stability: Excellent
Application of the European Savings Tax Directive: Not applicable
Taxes on profits: No tax if the company's income does not originate directly or indirectly from Hong Kong
Time required to register a company: “Express” registration: 24 hours (requires your presence in Hong Kong). “Normal” registration: 7 working days from receipt at our Hong Kong office of your company's signed registration documents.
The company ("company")
Company type: Private Limited Company. The "offshore" status does not exist in Hong Kong; this is a tax exemption for activities carried out outside Hong Kong.
Legal system: English Common Law and local laws
Permitted activities: The company may engage in any activities except banking, insurance, and financial activities (such as currency exchange).
Registered local agent: Mandatory. Our company, Merritt Asia Limited, is authorized to represent you and will therefore be the "Company Secretary" of your company.
Pre-established companies available: Yes (list available upon request). We always have approximately 500 companies available.
Language used for documents: English or Chinese. We are, of course, available to assist you with any translation and help you understand them.
Company name: English or Chinese, or both. The use of certain names is regulated (bank, federal, trust, etc.). Contact us to check the availability of a desired name free of charge.
Share capital and shares of the company
Share capital currency: HKD (Hong Kong Dollar)
Minimum paid-up capital: HKD 1
"Basic" capital amount upon incorporation: HKD 10,000
Maximum authorized capital: Unlimited. However, we recommend not exceeding HKD 10,000, as this is the usual capital of a company in Hong Kong.
Payment of the remaining capital: Not mandatory and not subject to any time limit
Minimum number of shareholders: One
Maximum number of shareholders: Maximum 50 shareholders
Bearer shares: Not permitted
Permitted share classes: Ordinary shares, preference shares, voting or non-voting shares
The main players in society
The company secretary or agent ("Company Secretary")
Role: Represents the company before the Hong Kong Authorities for all administrative procedures. They are therefore the point of contact for the Authorities regarding all legal, accounting, tax, and social matters concerning the company. Not to be confused with a “secretary” as understood in French, this is a mandatory appointment!
Company Secretary required: Yes.
Local Company Secretary: Yes, they must be registered with the Hong Kong Registries.
Do you offer a Company Secretary? Yes, since this is our business! This appointment is handled by our company Merritt Asia Limited.
The Director ("director")
Role: They are the company's representative (agent), equivalent to the "manager" in civil law countries.
Eligibility: Any individual (private person) or legal entity (company), regardless of nationality.
Minimum number of directors: One (may be an individual or a legal entity).
Maximum number of directors: No limit.
Disclosure to authorities and the public: The register of directors is public (but access is subject to a fee).
Director's place of residence: May reside anywhere in the world.
Requirement to have a local director: No.
Nominee director available: We no longer offer nominee services.
The partner or shareholder ("shareholders")
Role: Holds part of the company's capital ("share").
Minimum number of shareholders: One.
Maximum number of shareholders: Fifty.
Eligibility: Any individual or legal entity, regardless of nationality.
Public disclosure: The Shareholders' Register is public (but access is subject to a fee).
Nominee shareholder available: We no longer offer nominee services.
Location of general meetings: Anywhere in the world.
Administration, accounting and bank account
Company administration and accounting
Maintenance of accounting records: Mandatory. We will put you in contact with a third-party accountant, it being understood that we have no access to your accounting records, either directly or indirectly, nor any control over or visibility into the management of your company.
Annual audit of the accounts: Mandatory. We will put you in contact with a third-party auditor, it being understood that we have no access to your accounting records, either directly or indirectly, nor any control over or visibility into the management of your company.
Supporting documentation for expenses and income: All expenses must be supported by an accounting document (invoice, receipt, etc.). To be deductible, an expense must be related to the company's business activities. It is important to consider the concept of a “permanent establishment” if your business is conducted from a country other than Hong Kong. As this matter falls outside our area of expertise, we invite you to confirm with a tax attorney the details of your business activities and the reporting of your income in your country of residence. They will then be able to provide you with a precise answer based on your situation.
Bank account
Location of the bank account: It can be located anywhere, but we recommend opening it in Hong Kong.
Possibility of having a bank account in Hong Kong: Yes
Banks offered in Hong Kong: We offer HSBC, Standard Chartered Bank, Citibank, DBS Bank, and Hang Seng Bank, but any other bank is possible according to your instructions.
Remote opening of the bank account: This is possible with certain online banks ("fintechs") located in Hong Kong and outside Hong Kong.
Internet Banking: Yes (for all banks).
Bank account currencies: Multi-currency (for all banks): EUR, USD, GBP, etc., including RMB.
Authority and access to the company's bank account: You are the ONLY person with access to the company's bank account. We have no signing authority, access, or visibility into your accounts. The banking relationship, if accepted, is solely between the bank and you.
Bank card: Visa Gold or Visa Platinum debit (ATM) and credit cards (limit = amount blocked as security).
Exchange controls: No
Deposit required when opening the account: Depending on the type of bank: from a minimum of HKD 10,000.