Setting Up a Business in HK

[Football16]

Your forums are highly informative and many of the posters here really seem to know their stuff so I thought I'd start here.

I have been part of a small group in Vancouver, BC who is planning a start up business that would be established and based in Hong Kong.

Three of the principals and owners are young HK and Canadian passport holders so no issues there.

There is a fourth person, a young woman from Indonesia who is currently studying Mandarin in Shanghai for the past year following completion of her business degree in Vancouver.

What we all have in common is that at some time we all graduated from the same university. They more recently than me...lol.

The Indonesian citizen is experienced in the business we want to start and will be valuable in expanding to markets in the future. The group believes that my academic (BA, MBA) and business credentials as a former executive in a major corporation with experience related to the purpose of this new entity will be of benefit to them as they are much younger.

They want me to participate in the business as an owner/director and also participant despite my continued residency in Canada which would continue. I could myself staying in HK for periods of time related to the work if this is possible, which I am beginning to think is not.

As I wouldn't be qualifying as qualified investor with a $6.5 million investment in HK, I am not sure if this participation for me is possible.

1. Can the Indonesian citizen get in permanently, given that the start up won't have revenues?

2. Is there a way to be a director of an HK company and still come to HK to participate in meetings and business development from time to time?

As a fall back position, I am suggesting that the business simply list me as an associate for the purposes of marketing and business development.

Any thoughts? I'll provide more information if needed.

Thank you.

[Football16]

First off, you should do some research before posting questions!!! I just answered my own questions in part.

The Asian Corporate Services website which I came across here was most helpful.

According to the ACS site: "The Hong Kong Companies Ordinance stipulates there must be a minimum of one shareholder in each company. A shareholder need not be resident in Hong Kong and can be an individual or a corporate body."

This answers my question 2 - in part - above: Is there a way to be a director of an HK company and still come to HK to participate in meetings and business development from time to time?

[KnowItAll]

http://www.business.gov.hk is a good place to start your research about setting up.

[Football16]

http://www.business.gov.hk is a good place to start your research about setting up.

Thanks. This helps as did that other site.