The secretarial specialists at Eternal Gold, our company secretarial associate, are experienced in Hong Kong and offshore business company formation and compliance services. The constitution of companies formed through us is diligently drafted to cater for the many changes that a company will face in its business ventures and corporate developments.

 

We provide personalized assistances to our clients on fulfilling the various compliance requirements. 

 

Brief notes on private limited companies incorporated in Hong Kong

 

1. CAPITAL

There is no statutory upper or lower limit on capital. All shares issued have no nominal value. 

 

2. SHAREHOLDER

A Hong Kong company may be incorporated with one member who can be individual of any nationality or corporation of any place of incorporation and holds at least one share.

 

3. DIRECTOR

A Hong Kong private company must have at least one director who is a natural person. The director may be resident outside Hong Kong. Corporate director is permitted provided at least one director is a natural person and that the company concerned is not part of a group of companies, one or more of which are Hong Kong listed companies.

 

If a company is owned by one individual member who is also the sole director, the company may appoint, in a general meeting, a person (other than a body corporate) who has attained the age of 18 years as a reserve director to act in place of the sole director in the event of his death.

 

4. SECRETARY

A Hong Kong company must have one secretary who may be one of the directors. Where a private company has only one director, such director cannot also be the secretary of the company. A private company with only one director cannot appoint a body corporate as its secretary if the sole director of which is also the sole director of the private company concerned.

 

The secretary of a company should ordinarily reside in Hong Kong (if an individual) or have its registered office or a place of business in Hong Kong.

 

5. REGISTERED OFFICE/BUSINESS ADDRESS

A Hong Kong company must maintain a local registered office, which must be a physical address (and not a post office box).

 

6. BANKS

Bank accounts can be opened once a company is incorporated or at a later stage, depending on the company’s requirements. Most banks in Hong Kong require meeting with beneficial owner and bank account signatories for purpose of opening a bank account. For companies which has not yet have an established business with recurring income, this may take many months and many rounds of documents and without any guarantee on being able to successfully open a bank account.

 

7. ANNUAL COMPIANCE

An annual audit and submission of local tax returns are required and fee level varies with the actual circumstances and complexities of the engagements. Business registration is payable annually with annual fee at HK$ 2,250 per annum (currently reduced to HK$250 till 31 March 2021) or can be paid every three years upon payment of the three years’ fee in advance. A branch business registration is required for trading under a separate trade name or branch office (annual fee is HK$323 per annum but correctly reduced to HK$250 till 31 March 2021). Annual filing of statutory information (such as shareholders, directors, secretary and debenture) of the Company is required.