Offshore Company Registration

Guide to Offshore Company Formation in Hong Kong

Guide to Offshore Company Formation in Hong Kong

To attract more investors in Hong Kong, its government did not require stringent rules for the setting up of offshore companies. The process is rather easy and very straightforward. It is the same whether it involves buying an existing company or starting a company from scratch.

First Things First

But before you start thinking of setting up your offshore company in Hong Kong, you need to do some preliminary thinking first. You need to think about the following things:

1. What is the form of the company you want to establish?

2. How many people will the company need?

3. What is the best offshore jurisdiction for your company?

4. What additional service will you need, such as nominees, offshore bank account and so forth?

Basic Requirements

Now that you have established the nature and character of your offshore company, you must satisfy the primary requirements of setting up an offshore company. First, you will need a director and a shareholder.

You can choose to get several qualified people, or you can just use one person to hold both designations. Next, you need to supply the details about each director and shareholder, such as their names, passport details, nationalities, home addresses. For shareholders, you need to specify their percentage of shares.

You also need to specify your company’s bank accounts. HSBC is the typical bank most offshore companies in Hong Kong are using. But there is no reason why you can’t use DBS, China Bank and other commercial bank in Hong Kong.

You are required to have at least 1 shareholder and 1 director. As have been mentioned before, you can choose to have one person acting in both capacities. Your company secretary is allowed to be an individual or a Hong Kong duly registered company.

The Usual Process

Incorporation of your offshore company usually only involves two distinct steps:

1. Approval of your Hong Kong offshore company name.

You can accomplish this by filing an application with the Companies Registry in Hong Kong.

2. Submission of your offshore company’s incorporation documents, which include:

• Hong Kong Incorporation application form

• Hong Kong offshore company’s Memorandum and Articles

• Copy of passport, overseas residential address proof, bank reference letter for non-resident shareholders and directors

• Copy of Hong Kong identity card for Hong Kong resident shareholders and directors

• Copy of parent company registration documents for corporate shareholders

Once you have submitted all these documents, it will take about 4 to 7 working days to process your application and incorporate your offshore company.

After your offshore company is incorporated, you still need to do certain things to formalize your set up. These include filing the documents with the Companies Registry, opening a corporate bank account, registering your company with the Inland Revenue Department, and applying for a business license.

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