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HK company setup questions

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  1. #1

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    HK company setup questions

    Whilst my friend is away for several months, I've been tasked in finding out how to open a limited company in HK for her. I don't have much experience in this (previously was all done by my accountant back in UK), so I've got a few basic questions.

    To reduce a lot of hassle, she can get buy a previously registered company from one of the various businesses that does this. She understands that the name of the company cannot be changed:

    A. Can she then trade as under a different name?

    B. What's the approximate cost in this? (Taking into consideration the agency fees and legal fees)


    If she registers the company herself, I've looked at: Hong Kong company incorporation | English

    1. Is it necessary to have both a Director and Company Secretary?

    2. What is a Natural person?


    Sorry for the amount of questions....


  2. #2

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    Natural person is a human being.
    Company requires a director and a secretary. Same person can act in both capacities ( If I remember correctly).
    The cost of doing it yourself online is much less than going through an accountant.
    The problem will be how to open a Bank account.

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  3. #3

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    Secretary has to be HK resident.

    One director has to be a natural person (individual). Corporate directors can sit alongside them.

    I wouldn't recommend buying an existing company, it's much better to start with a clean slate.

    I work for a CSP we charge in the region of HKD 10k to incorporate but we generally offer full package (directors, co sec, reg office, accounting) so there is a lot more work for us in terms of KYC and systems set up than just simply incorporating the Company. Generally our clients are based overseas also.

    You can actually do it yourself through the CR website for HKD 1,720 plus the BR fee which is 250 at the moment.

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  4. #4

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    Quote Originally Posted by Trebor:
    I wouldn't recommend buying an existing company, it's much better to start with a clean slate.
    I think you mean to say : Dont buy a company with a history.

    There is nothing wrong with buying an existing (off the shelf) company with minimal history. Its quick, easy and painless.

  5. #5

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    Quote Originally Posted by HowardCoombs:
    I think you mean to say : Dont buy a company with a history.

    There is nothing wrong with buying an existing (off the shelf) company with minimal history. Its quick, easy and painless.
    Well yea, there is that. I don't see why companies maintain shelf companies though. The BR fee is still applicable and so is the NAR1 just seems like a drain on resources. Only benefit is it's quicker but you can incoporate online in 24 hours now anyway if you have profile on the CR eregistry.

  6. #6

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    Quote Originally Posted by Trebor:
    Well yea, there is that. I don't see why companies maintain shelf companies though.
    Not quite sure but I have several companies (HK as well as BVI) and all of them were purchased off the shelf. Looked at a long list of available ones and picked a decent sounding one.
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  7. #7

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    Quote Originally Posted by HowardCoombs:
    Not quite sure but I have several companies (HK as well as BVI) and all of them were purchased off the shelf. Looked at a long list of available ones and picked a decent sounding one.
    Can she then trade as a different name? Back in the UK I had a limited company and traded in two separate names, eg:

    Happy Fish Ltd T/A Funky Goods

  8. #8

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    Quote Originally Posted by Proplus:
    Can she then trade as a different name? Back in the UK I had a limited company and traded in two separate names, eg:

    Happy Fish Ltd T/A Funky Goods
    I think so, yes - I recall my accountant telling me something about that and even can get bank accounts in the different trading names too but the details escape me as I'm not doing that. Best check with someone qualified.

  9. #9

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    Quote Originally Posted by Proplus:
    Can she then trade as a different name? Back in the UK I had a limited company and traded in two separate names, eg:

    Happy Fish Ltd T/A Funky Goods
    Yes. You may need a branch BR certificate ... "Registered Name: ABC Ltd. Branch Name: Funky Goods". You can open an acct on the branch name if you choose. (My info is about 7-8 years old. Who knows what the rules are these days with banks...)

    Not sure if you can make do with 1 BR with company name and branch name.

    Many companies will use their co sec's office for the resistered address and use their office address as a branch.

  10. #10

    Of course you can change a new name for the shelf company you bought. I am a little confused about trading under two different company name, is it that A company is responsible for marketing, and all the payment settled by B company?

    It is quite convenient and easy to open a new company in HK, and good news is that the director and sharehold can be of any nationality, and need not be resident in Hong Kong, you will be asked to appoint a company secretary for the new start-up, of course a registered address is also required. You can choose to set up by yourself or agent.


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