Guide to incorporating a private limited company
The requirements of setting up a limited company in Hong Kong
There are specific basic requirements and facts that one must have before setting up their company in Hong Kong. Some of the requirements that you must be familiar with include the following:
Company name: A company must have a name. Thus, you should choose a unique name for your company that will help it stand out among the rest before proceeding with the incorporation of a Hong Kong Company.
Companies Ordinance: It is required that all the companies in Hong Kong, except for those that are listed by the Hong Kong Stock Exchange, create and maintain the details of all the individuals who have significant control of the company.
Directors: All companies that are being set up in Hong Kong should have at least one director. However, an unlimited number of directors is equally allowed for a LLC company. The directors must be a natural person, and they can be of any nationality but a Hong Kong resident. The director must attain the majority age (18 years) and must not be bankrupt or convicted of any malpractices before. It is not a must that the director also is a shareholder. Besides the individual directors, a company can equally have nominee corporate directors. The directors’ board meetings can be held in any part of the world.
The Shareholders: A private limited company in Hong Kong can have a minimum of one shareholder with a maximum of 50 shareholders. The shareholders of a company should be at least 18 years of age and can be of any nationality. The shareholders can either be 100% local or foreign shareholding, and they can either be an individual or a company.
The Company Secretary: Before incorporating a LLC company in Hong Kong, it is mandatory to appoint a company secretary. It is required that a company secretary resides in Hong Kong if they are an individual. However, if it’s a corporation individual, they are expected to have their physical office in Hong Kong. The secretary of a company is responsible for maintaining the statutory books and all the company records. Further, they should ensure that the company complies with all the regulatory requirements.