An introduction to shelf companies incorporation in Hong Kong

For investors who do not wish to waste time on going for unique brand names or business logos and immediately want to continue the operation of their venture, shelf company is the best choice. Shelf companies are ready made companies that are created, but haven’t been used for conducting any kind of operation. They can be used by any entrepreneur who wants to kickstart a venture without getting involved in the complexities of registration. 

Some characteristics of a shelf company are:

1.       It is a complete and registered company with a certificate of incorporation, stock certificate, seal, and other legal documents required by the law.

2.       It doesn’t have the record of any business activity

3.       The number of directors that can be appointed for this kind of company is 1-50

4.       The name of a shelf company is changeable too. Entrepreneurs can apply for a new name and check for its availability with the Companies house

A shelf company is one of the easiest ways of starting a business in Hong Kong. You can easily go for the Ready Made HK Companies list and select the name that best suits the type of activities that will be carried out by your business. There are various other countries in the world that follow this method of company incorporation. Companies like Singapore, Unites States of America, Cayman Island, etc., has this kind of arrangement too. 

Go for a shelf company and start doing your business in no time. The best way to do it is via a business consultant. You can specify your details and they will find the best readymade company for your business. With their help, you can continue with your operations in a highly smoother fashion. They will be of great help in the smooth running of the business as well as its day-to-day affairs.

Choosing a trademark for you Hong Kong Company? Avoid these marks

A trademark is a unique logo, symbol, mark, or design that represents a brand or a company. Every company has its own unique trademark and uses it for all their business dealings in day-to-day transactions. The trademark is in fact an alternative identification that gives people the idea of which company acts behind it. If you are in Hong Kong and are going to incorporate a company, you can easily register a trademark for it. However, there are certain limitations when you are choosing the marks.

Here are the marks that shouldn’t be used as a trademark for your organization:

·         Marks identical to name, flag, national emblem, medal of a country, etc.

·         Marks that represent racial discrimination

·         Marks identical to the name or emblem of some other organization

·         Marks that relate the generic name, term, or type of product, for instance, sunglasses, battery, etc.

·         Marks of fraud and high sounding publicity

·         Marks that are similar to the hallmark that indicates the implementation of control and security

·         Marks that directly relate to the raw materials, purpose, function, weight, and other different features of the product

·         Marks similar to the sign of Red Cross or Red Crescent

Make sure that you are very careful while performing the task of your trademark registration. You can take recommendations from the other companies that have their names and trademark on the Hong Kong Company Registry. 

There are business consultancies that can help you greatly in this area. They will guide you in choosing or designing the best logo for your brand. They will discuss all the limitations and important information that needs to be followed while designing the brand logo. Take their help and make your trademark unique and amazing as it will represent your entire organization in every field of business.

An introduction to limited company formation in Hong Kong

A limited company is one of the most common and widely incorporated types of company in the world. A limited company is a business structure that provides limited liability to its owners in different jurisdictions. This is basically a legal form of a company that combines the limited liability of a corporation with the pass-through taxation of the owner, which can be a sole proprietorship or partnership.

In Hong Kong, Limited Liability Company or LLC is the most commonly incorporated type of company. Almost anybody can incorporate HK Company by following the right process. For a limited company formation, one has to fulfill the following necessary requirements:

The HK Company requires at least one shareholder and one director. Both can be the same person

1.       The corporation service company must have a company secretary that will be a permanent resident of Hong Kong with an authorized address

2.       The company must be in a certified location so that it will bear a complete and detailed address

3.       In this type of Hong Kong company incorporation, the company shareholders will have limited liability and foreign ownership will be allowed.

 Entrepreneurs also have the option of choosing a Hong Kong Offshore company. The structure of this business is comparatively similar to an HK limited company, but all the operations are conducted outside Hong Kong. Having this type of business exempts the business owners from paying taxes as incomes sourced outside the jurisdiction of Hong Kong is non-taxable.

Make your HK company formation a cakewalk by going for a business consultant. These are sources that have a well-known reputation in the country and among all the other business operating within it. They can easily help you in the formulation the type of company you are interested in without getting involved in the complexities.

Business Registration in comparison with company registration

Hong Kong business incorporation always requires the fulfillment of three prominent registrations – Company, Business, and Trademark. All three have their respective boards for the processing and authorization. A businessperson who is about to commence his HK company incorporation should not confuse them to be similar and needs to understand how different they are to each other. We’ll be discussing about the first two topics here – Company registration and business registration.

‘Company’ and ‘Business’ are treated as two different terms in the purview of Hong Kong business incorporation. 

Company registration – The process starts with name proposal, after which the company will be identified everywhere. To register the name, one needs to submit an application with the Hong Kong company registrar. A new and non-existent name needs to be chosen and then applied for registration. The Hong Kong company registry will give the details about the list of names already applied for. Once verified, one can apply for a company registration with the Hong Kong company registry. 

Business registration – To go for a business registration, one has to apply for it on the Business registration office. If the regular proceeding of the business is carried out on a branch, it needs to be registered as well. 

An overlook to the company registry search will provide details on the availability of company names and trademarks. One can also register company online at the Companies Registry’s website.

For a faster incorporation, take the help of Hong Kong based business consulting firms. They are there to help the interested investors to create a profitable unit in the country. These firms will take care of all the formalities that sometimes are the most tedious tasks one experiences while setting up the business. They can also help by supplying manpower and other services that companies need in order to operate without any hiccups.

Company secretary hiring – An overview of different characteristics

The role of a company secretary is very prominent in the incorporation of a business in Hong Kong. It is required by the law to hire a CS for any company that you are going to establish in the grounds of this business-friendly country. According to the Hong Kong Companies Ordinance, every limited company operating within the country is bound to appoint a company secretary. Other characteristics that need to be overviewed while hiring the professional is as follows:

1.       S/He should be a permanent resident of the country and should be 18 years old or above. In any case, a Chinese resident does not have the authority to perform the CS responsibilities and only a Hong Kong-based citizen is allowed to take the job. 

2.       The responsibilities of a company secretary include: arranging meetings and ensuring their smooth continuation, providing the legal documents if and when asked by any regulatory body in order to ensure the company is working in accordance to the government rules, opening bank accounts, regulating the daily affairs of the business in all essential areas. 

3.       In case you are not able to find the right candidate for the company secretary jobs in your organization, there are Certified Public Accountants you can go for. You can easily employ them to perform the company secretary service for your organization. 

Hiring a company secretary is a highly essential task for any business that is going to initiate its operations in Hong Kong. You can take help from some reputed business consultancies who provide relevant services. These are sources that can help you in meeting every requirement that comes up while incorporating your Hong Kong Company. They can be of great help during the formation as well as further. Find the right company and doing business in Hong Kong will become highly simple.