【Incorporation Process of Limited Companies】 How to Register a Limited Company? Is the Process Complex?
【Incorporation Process of Limited Companies】
In Hong Kong, the process of incorporating a limited company is relatively more complex compared to an unlimited company. However, once the procedures and considerations are understood, it won't be too difficult for entrepreneurs. While many individuals opt to engage professional secretary firms to manage company registration, understanding the process remains beneficial. We will emphasize the steps, procedures, and important points to note when establishing a limited company in Hong Kong.
1.Choose a Company Name
Firstly, you need to determine your company name. The company name must adhere to the regulations and index of the Hong Kong Companies Registry. It must not be identical to existing company names and should not violate any regulations. You can check the availability of a name on the Cyber Search Centre or
consult City AI Accounting's incorporation specialists.
Note: Limited company names will not be approved under the following circumstances:
● The selected company name is identical to an existing limited company name.
● The selected company name is identical to the name of another legal entity established under other legislations.
● The Companies Registry deems the company name might involve criminal offenses.
● The Companies Registry deems the company name might cause offense or go against public interest.
2. Prepare Company Incorporation Documents
To establish a limited company, you will generally need to prepare several documents and complete them, along with submitting government registration fees ($1,720) and business registration fees ($2,150) to the Companies Registry. (Please note that this information is based on the state of affairs at the time of writing and may be subject to future changes by the Hong Kong government.)
These documents include:
● NNC1 Form: This form requires details such as the company name, address, names of founders, directors, company secretary, information about the person submitting the documents, etc. Applicants can download the relevant forms from the Companies Registry website. Here is the link to the Companies Registry website.
● Articles of Association: This document is formulated according to the Hong Kong Companies Ordinance and outlines the company's operational rules, member rights, director powers, etc. The Companies Registry website also provides template articles of association for reference.
● IRBR1: This is a notification form related to business registration, and it involves indicating whether you are applying for a three-year business registration certificate.
3. Submitting Documents
Submit the prepared documents along with the required fees to the Companies Registry. The submission of these documents can be done in physical form, or you can consider using the online services provided by the Companies Registry for submission. Generally, the Companies Registry will process the company registration within approximately 5 to 7 working days.
Using "e-Registry" for Online Company Registration
The Hong Kong government offers an online service for company registration called "e-Registry." After registering an account online, you can handle the company registration process through this platform. It can save you time and avoid the need to physically visit government offices.
4. Obtaining Business Registration Certificate
After your application is approved, you can obtain the "Certificate of Incorporation" (CI) and the "Business Registration Certificate" (BR). The issuance format of these certificates will depend on your chosen application method, either in electronic or printed form.
While opening a limited company may involve some intricacies, it's not a complex labyrinth. Once you understand these steps, you can proceed smoothly. Whether you choose to handle it yourself or seek our assistance, understanding these procedures will help you gain more confidence throughout your journey of opening a limited company in Hong Kong.
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