Christopher Hsu advises that in establishing a business in Hong Kong, one needs to know about the following information: individual tradership, partnership and joint ventures, requirements needed to be met by a Limited Liability Company and its branch officers, and the legal responsibilities of the Business Registration Office of the Inland Revenue Department (IRD). Christopher Hsu explains more below:
As with any type of Hong Kong business, regardless of which country the owner wants to pursue his or her venture, the government of Hong Kong will require you to register beforehand with the Business Registration Office of their Inland Revenue Department of IRD. Chris Hsu reminds that it is stated in their law that anyone who wishes to conduct, introduce, establish or go into trading within their territory that registration must be done within one month from the launch of the business. Christopher Hsu emphasizes that this rule covers organizations which include: ✓Private individual or group of individuals who wish to earn monetary gains. In other words, people who want to gain profit through their venture. ✓Clubs or organizations that carry out facilities intended for recreation or interaction between customers like malls, dining areas, restaurants, and more.
✓Companies that are already doing business in Hong Kong.
✓Companies that are not doing business in Hong Kong, but currently conducts or do business transactions within the country.
✓Companies that are not registered with the Hong Kong government but that has representatives or offices in the country.
Christopher Hsu says that should an investor wish to start the business as soon as possible, they can acquire through law firms these so-called ready-made shelf companies that have not started with their business, and those that do not still have liabilities or debts. These Hong Kong companies, or shelf companies, have already been registered with the Companies Registry and thus they have obtained the Certificate of Incorporation. The fees that they have to pay are more or less equivalent of the fees that they will pay once they decide to apply for business applications. The procedures too can be completed in a couple of days. However, Chris Hsu states that once they have gone through the business procedure, they can then get the Business Registration Certificate from the Business Registration Office so that they can start with their commercial activities.
Learn more on the above with a session with Chris Hsu today.