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Setting up a tourist agency in Hong Kong

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  1. #1

    Join Date
    Feb 2019
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    Setting up a tourist agency in Hong Kong

    Hello,

    I am thinking of setting up a tourist company here in Hong Kong but I am not living here. So I wonder if anyone can help me with some queries about setting up a business here.

    1.
    Can someone open a bank account in Hong Kong with a tourist visa?

    2.

    Is it possible to open online or do I have to physically be present at the bank in Hong Kong?

    3.
    How can a foreigner set up a company in Hong Kong? Is it necessary to set up with a local citizen? Is it a must to get a tourism license in order to set up a tourist agency here.

    4.

    How difficult will it be to liquidate money on credit through a local bank if I set up a small business like this? Any requirements I have to fulfil?

    Any insights will be much appreciated. Thank you.

    Best,
    Amy

  2. #2

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    3. You have to pass an exam before you get the license. And pay a deposit to TIC for operating a travel agency. A few years ago it was 500k hkd.

    Last edited by Drunken Master; 21-02-2019 at 10:01 PM.

  3. #3

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    In theory, you can open a bank account here - but that would be a personal account and not suitable for business. In practicality quite difficult for a tourist to open an account and have it functioning in a short period.

    Start here for the basics on how to open a company / licenses required etc.

    https://www.gov.hk/en/business/suppo.../licensing.htm

    Licensing for travel agencies:

    https://www.success.tid.gov.hk/tid/e...633&type_id=19


  4. #4

    Join Date
    Mar 2010
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    Mmm... seems a little vague and at such a preliminary stage of thought that i’m questioning the seriousness of your proposed endeavour. Hong Kong is regulation mad in many respects, and starting a travel agency is no exception.

    That said:

    1 & 2) For ANY limited company you will need to get yourself a business account. This makes your #1 question irrelevant. That said, some banks open accounts to non-residents but you need a good reason.

    Yes, you must be physically in HK to open an account.

    3) Foreigners CAN setup a travel agency. However the procedure for setting up an agency is complicated: i.e. first join a travel association (such as OTOA, HATA, SIPA etc.) - which typically requires you to already know a couple of members who can vouch for you; THEN join the TIC which requires the $500K deposit mentioned by Drunken Master (note: there’s no exam, that’s for tour guides), and THEN you register with the government’s Travel Agents Registry (TAR) who give the official license. (TAR’s purpose is for financial audit and ensuring agencies are fit-for-business, whereas TIC regulate agencies’ behaviour)

    Through all of this, check the specific requirements of each association / body, such as for example the requirement to have a physical (non-shared) office.

    If you are handling Mainland Chinese clients, or outbound tours, there are additional requirements involving registration of tours and/or tax levy’s for example.

    Depending on what you actually want to do... you can also think about whether an agency is even needed or worth registering.

    Note that government has plans to imminently replace the regulatory framework, after which the TIC will be replaced with a more authoritative body. For sure, specific requirements will change after this. Something you should keep an eye on.


  5. #5

    Join Date
    Mar 2008
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    992

    Where are you from?


  6. #6

    Join Date
    Feb 2019
    Posts
    2

    Thank you all for the information.

    We are a tourist company in Thailand. so as an alternative, can a Thai tour agency work with Hong Kong tour agencies? Will money transfer be a problem if we don't have a local account in Hong Kong? Anyone in the field will be appreciated to offer some advice.



  7. #7

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    Mar 2010
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    If you want to partner with a local Hong Kong agency then generally no problem.

    If you are sending clients to Hong Kong, then just find an agency you can partner with to receive your guests. They will hire the guides, arrange the vehicles etc... you just outsource to them. That's generally how outbound agencies work anyways : you cannot possibly have a physical presence in every country. When your business grows, one day you could setup a local office.

    If you're receiving inbound clients, then same thing in reverse. You sell your product to outbound agencies in Hong Kong and persuade them to use your services in Thailand.

    shri likes this.