How to register a Hong Kong company? How to maintain after registration?
Why do foreign traders prefer to register a Hong Kong company
In terms of capital operation, Hong Kong companies are free to exchange foreign currency and currency without regulation.
Compared to other offshore companies, the registration threshold is lower, the procedures are simple, and there is no need for local office work!
There are many tax policy advantages, few tax categories, low tax rates, and no need to pay value-added tax. (Hong Kong companies whose income comes from outside Hong Kong can apply for tax exemption. The only tax that companies must pay each year is profits tax. If the company does not operate locally and does not make profits, it does not need to pay taxes. In addition, Hong Kong companies only need to undergo annual audits and file taxes once a year, which is simpler and more convenient.)
International trade is convenient, and the external transportation network is well connected, which is conducive to expanding the international market. As an international financial center, Hong Kong has a well-developed infrastructure and smooth transportation of goods. At the same time, Hong Kong has a high international reputation, and companies can leverage the reputation of Hong Kong funded companies to establish an international brand image and enhance international credit
Which users need to register a Hong Kong company
1. Sellers who need to sell products on major e-commerce platforms (such as Amazon, AliExpress, EBAY, Independent Station, Overseas Tiktok, JD International, Tmall Global, Overstock, etc.).
2. B2B foreign trade (Alibaba International, Dunhuang, SOHO, etc.) integrates industry and trade.
3. The customer base for international logistics and other business needs of the company itself.
How to register a Hong Kong company
Step 1: Pay a certain registration fee, including government fees and company registration service fees
Step 2: Company name search. Before registering a company, it is necessary to submit a company name application to the Companies Registry of the Hong Kong Special Administrative Region Government for pre-approval
Step 3: Submit Materials
Step 4: Hong Kong Registry Review
Step 5: After completing the registration, mail the paper documents to the customer's mailing address
After the successful registration of a Hong Kong company, it is necessary to conduct annual audits and bookkeeping audits for maintenance! Many clients often mistakenly believe that conducting accounting audits is just an annual review, and once an audit is done, there is no need for an annual review. In fact, these are two concepts that must be taken seriously. If Hong Kong companies do not handle them in a timely manner, they will not be able to operate normally!
Hong Kong Company Maintenance Guide ↓↓
Accounting audit:
After one year of company establishment, accounting and auditing can begin. The first accounting audit year can be selected between 12-18 months. After the first accounting year end date is confirmed, the accounting year will be based on 12 months per year thereafter. The boss of a Hong Kong company needs to arrange relevant work before the end of the year.
Hong Kong companies usually choose the last day of each month from the 12th to the 18th month as their year-end closing date. For example, Company A will be established on April 1, 2023, and the annual accounting settlement date can be selected from the following two options:
1. The full 12 months are on March 31, 2024
2. The deadline for reaching 18 months is September 30, 2024
Accounting audit requires Hong Kong licensed accountants to audit the accounts, calculate taxes, declare and sign, mainly consisting of two parts: accounting and auditing. The annual review mainly involves the payment and renewal of the annual fee for the Business Registration Certificate (BR) of a Hong Kong company, as well as the submission of the annual declaration document NAR1 for the Hong Kong company. For most domestic foreign trade bosses, they usually entrust a secretary company to handle it. Xiaomao Overseas is a licensed institution in Hong Kong, with its own team of professional accountants and auditors in Hong Kong. The accountants with over 10 years of qualifications have professional discernment and due diligence.
Annual review:
When the company has been registered for 12 months, the annual review begins. Once a year, every year. For example, if a Hong Kong company is established in June 2023, it can be processed before June 2024. Xiaomao suggests conducting the annual review one month in advance, and Xiaomao's overseas Hong Kong company's annual review can be completed within 1-3 working days at the earliest.
For example, if the business registration certificate is registered on June 1, 2023 and expires on May 31, 2024, it needs to be processed before June 1, 2024. If the annual review is not completed before July 11, there will be a corresponding fine.
