Four Company Acts Of Doing Business In Hong Kong

Hong Kong is a Business Hub for many different new startup companies. All these companies have to know the basic details of the different company act, taxation system and share transfer facilities, Intellectual property act and trademark registration for having a smooth and legal business in Hong Kong.

Hong Kong Company Tax filing  |  Hong Kong company Account and audit

 

1.    Trade Mark Registration:

To open a startup in Hong Kong it is very essential to distinguish the business from other through a unique symbol/ letter/ design/ number etc.  The Trade Mark gives the ownership to a particular product or service and is attracts legal action if someone else uses it for the same product without any concerned to the owner.

The detail process of Trademarks Registration in Hong Kong is a very simple online process.  The process is involving five simple processes of complete registration. First, the owner has to apply for a Trade Mark registration, the next step is deficiencies Checking if there is any and the next step is search & examination by the authority if there is any objection than go for hearing. In a fourth steps the Trade Mark published publicly for the opposition. After successful completion of the above four steps the last step is the registration.

2.    Share Transfer System:

The share transfers in Hong Kong perhaps the simplest business process. To do the necessary transfer first the proposal approved by the board of the company. As per the Hong Kong share transfer ordinance, the existing shareholder is getting the first chance for it.

The ordinance allows the transfer process with proper documentation with the signature of the transfer or and transferer both on the Transfer Form or the Sales Agreement.

3.    Tax Return Filing:

Any businesses of investment venture opening its business operation are coming under taxation. The Hong Kong Company Tax filing system is applicable to local business, partnership farms, limited company, Corporation and many other ventures.

No one likes to give tax especially when it is a start-up venture, but doing business without taxation is a punishable offense in Hong Kong. So it is better to prepare for tax filing as per the income slab of 2% to 17%. The Hong Kong taxation is applicable for the foreign income too as per the Tax Treaty with the concerned country.

4.    Auditing and Accounting:

The requirement of the audit and accounting of the business is very essential in Hong Kong. The Hong Kong company Account and audit is nothing but an annual compliance of the complete business process and transaction to the Government. The whole audit process done by the Chartered Accountants in Hong Kong is a good choice.

The audit & accounting works involve verification of the company guideline, policies and the activities whether all are as per the Govt. Rules or not.  The Audit ensures the deposition of all the statutory dues and fees.  The analysis of company profit and loss accounts is also an important act of audit.

The Hong Kong legal department is attracting many startup companies to register their intellectual properties under the Hong Kong Jurisdiction. The low cost of Hong Kong Jurisdiction is a bonus for the startup companies.

Guide to Setup New Business in Asian Countries

 

If you are thinking of setting up the business in Hong Kong, then there are certain steps that are required to be considered and based on that, research will be done which will be helpful in taking an ultimate business decision for setup.

Setting up Business in Hong Kong  |  Limited Company Formation

One thing you must know that it is very easy and economical to set up Hong Kong Company. The cost-effective ways can be followed in order to open the business in Hong Kong. A non-native Hong Kong who wants to own a business can become the director or stakeholder.

Once you are settled and owned the business in Hong Kong, you will get the pass for opening the business in other parts of Asian countries like China. 

There are some steps to be followed for setting up the business in Hong Kong.

Company Name

It is the first step of Setting up Business in Hong Kong guide. It is the foremost thinking of opening the business with a name in Hong Kong. It is important that you should check the name of your company before registering it. It ensures that no two companies have the same name.

If you want to be ensured of your company name, then you could perform the search using the internet help from the Cyber Search Centre of the registering company. You can even try checking the search result on various other websites. The online website result will be obtained fast.

Company Registration

Now that you have decided your company name, you can proceed to the next step of registering it. The Government of Hong Kong has initiated the registration process by following the application norms of as per the Hong Kong company incorporation helps in establishing the outside corporation in Hong Kong.

Required Company Documents

After the registration, there is a requirement for a certain set of documents:

·         A Company Incorporation form will be required for shares of Limited Company Formation

·         A notice will be generated and will be sent to the Office of Business Registration Company

·         As per the norms, a copy of Association Article pertaining to the registered company will be required.

Company Setup Fees

The processing fees involved in Incorporating your business company in Hong Kong is $530 as per the Incorporation rules of the Hong Kong government.

Business Registration Process Time

If you have filled the online form for registering your business and incorporation of your business company, the process will take 3 to 5 business days. In other ways, the form can be processed within 24 hours.

Bank Account

Once you are done with the registration of your business with the Revenue Department, it is necessary to open a corporate account of your company which will be required in your business transactions. You can select any Hong Kong bank from the list of major banks.

Some banks required you to present physically while processing the procedures for opening the bank account. On hiring any professional company for help in setting up business in Hong Kong, you will be guided informatively through each step and as per the requirement, proper guidance will be provided.

Facts to Know Before Going forthe Trademark Registration

There are times when a person goes for the federal register trademark through which they can save their money. But according to the research, it is the fact that most of the people hire the attorney to perform the procedure of registration for trademark and to cater legal advice.

If you are thinking to begin with the process, one must be transparent with the fact that they have to Share Transfer in Hong Kong after which the process will probably go in a systematic manner. You will require the professional attorney who can advise you in every step.

Why Is There a Need For The Trademark Attorney?

There are specific reasons why a person requires the trademark attorney. You can check them out.

 Hong Kong company tax filing

·         Future expenses: it s the fact that the lawyer can help you to save for your future cost by searching for the federal registration or any common law before the filling of the form.

·         No legal advice: if you do not have the attorney that no person can provide you with the legal advice. When you are looking to fulfill all your work, then it is a must that you should have the one who can guide you through the whole process.

·         Enforce the trading rights: when going for the Trademarks Registration in Hong Kong, a lawyer can help you to get all the rights without facing many problems.

It is the fact that brand is your real identity through which you can profits. When going for the trademark registration process then the attorney will help you to fill the form according to rules and regulations.

What’s next For the trademark application?

You should aim that all your Hong Kong company account and audit is adequately maintained through which one can't face any problem. When filling the form, the description should be filled very cautiously, and all the data should be real and accurate.

It is just that you are honest in your saying. When there is any problem, then there are chances that you don't get approval for the trademark registration. If any problem occurs then the registration might be canceled.

Can You Expand The Offerings?

There are chances that you are not using the marks on your good or services and planning for it. There are multiple options available here. The first one is to file the application which will be purely based on the intent of the mark which you are going to use in the future.

It means that as soon as you start using the mark, then you can probably get the registration for it. The next procedure available is dividing out. You can divide the goods and services into two applications and then go for the registration. Likewise, you can select the one according to needs.

Make it clear that you are having adequately done Hong Kong company tax filing. If you are going for the trademark registration, then all these things matter a lot. You can check them and work accordingly through which you can deal with the matter I proper manner.

The Pivotal Role Of Company Secretary In A Company

A Company Secretary is a very important person in a company. Apart from Director or Shareholders, they are also quite important in many aspects. There are some major decisions that entirely depend upon the Secretary of a company. Many important powers and duties are vested upon him.

Importance of Company Secretary:

It can be well said in this connection that the secretary of a company is one of the highest designations of a company. Hence the name of HK Company Secretary needs to be mentioned in this regard. He is the person who takes many major decisions of a company.

Some of the major functions of the Secretary of a Company include registering the names of shareholders of a company, preparing the agenda of a meeting, transferring of shares, holding of annual general meetings, maintaining liaison with the lawyers and attorneys etc.

In other words, it can be said that Company Secretary holds a very vital position in a company. In fact,the goodwill of a company depends to a large extent upon the Secretary of the Company. He holds a key position in a company.

 Company Secretary Service  | Corporation Service Company

The Various Roles of Company Secretary:

It has been observed that the importance of Secretary of a Company is quite vital in all aspects. No company can survive without a proper Company Secretary. The position is quite lucrative and full of responsibilities at the same time.

In fact Corporation Service Company is a very vital company .It is a company that operates in major sectors.  The company operates in major countries of the world with a huge strength of employees. The company has a legal sanctity and maintain a good standard of work. The employees working here are well experienced and skilled in their field.

The company has a good reputation in the field of finance and legal too. Due to its quality work it has earned a huge reputation in the business world. The employees are well paid and have a good reputation in the corporate market.

It has been observed that the Company Secretary Service is one of the best service and work. It has good future prospects at the same time. The people who are engaged in this profession usually have a sound academic qualification.

Apart from this person who have law degrees from recognised University can join the company secretary service after some years of service. Day by day the importance of this job is increasing. There are many people who open individual firms after acquiring this degree and experience.

Most of the firms that are associated with this job are entrusted in the incorporation of both private and public companies. Moreover, the work of transfer and transmission of shares are also done by this type of companies. 

Even the Secretary of Company is also entrusted with the responsibility of appointment of Directors, Managers, auditor of a company. All the major appointments are done by him. Thus it can be well presumed from the above discussion about the importance of Secretary of a Company.