Basic Requirements of Company Setup in Hong Kong

There are some critical requirements for offshore business setup Hong Kong which you should comply with if you wish to open up a new business in Hong Kong through a Private Limited Company or register a new company here through a business incorporation service.
However, several other requirements have to be complied with by the individual entrepreneurs who wish to form a company setup in Hong Kong for the first time. The government and the local authorities in Hong Kong to make sure conditions so that the entrepreneurs can do the business in Hong Kong as they feel that it is best for them.
Firstly, for setting up a company, business registration, and business administration in Hong Kong, you need to get all the necessary paperwork done, including the business registration form. It is a legally binding document that is used by the Hong Kong government as an initial step towards approving the business. The form has to be filled up accurately and should be signed by the company owners or the officers of the company.
Secondly, you also have to submit a list of your shares and other beneficial ownership shares of the business before the Hong Kong government for business registration. It is essential so that the government can have the information that it needs to grant the necessary licenses and permits to the business in question. It is required for the entrepreneurs to have the correct details of the company so that the Hong Kong government can grant the necessary licenses and permits to the business.
Thirdly, after doing all the formalities as mentioned above, it is also required to submit the Business Registration Fee Form to the Hong Kong government. It is a form where you need to describe the business you are planning to set up and submit the name of the owner of the business. The fee needs to be submitted as a separate invoice from your business setup in Hong Kong.
Fourthly, if you are planning to set up a limited liability company, you need to submit the necessary documents to the Hong Kong Business Registry for business registration Hong Kong. You need to submit the necessary information like the Memorandum and Articles of Association, Articles of Organization, and the Articles of Business and Registration.
Fifthly, you also need to submit the necessary forms to the Commercial Register. It is a vital piece of paperwork as it gives the Hong Kong government important information regarding the business and details of the company. All the documents which are listed in this section must be filed correctly in the correct order and must include all the necessary details about the company’s business operations.
Sixthly, for opening a business in Hong Kong, you also need to submit a report to the Hong Kong Government about the business you intend to set up. For instance, you need to submit the Annual Financial Statements, Accounts Receivables, and Accounts Payable and should provide all other relevant information for the business. The Annual Financial Report is one of the most important documents that is required for starting a new business in Hong Kong.
Lastly, you also need to submit the Business Registration Fee Form before the end of every year. It is an important form that is required before the government issues the tax permit for the business you are planning to set up in the city.