Setting up a Business in Hong Kong SAR

Overview by Globlatrade.net:

Legal Forms of Companies

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
Sole Proprietorship is an individual company.
 
 
No minimum capital.
1 person
 
 
Individual entrepreneur is liable for debts of the enterprise on personal goods.
HKD 2,250 for annual registration.
Company Limited by Guarantee
 
 
No minumum capital.
minimum 2 partners.
 
 
Their liabilities are limited to the amount of contributions made to the shares of the company;.
HKD 1,000 + HKD 6 to every additional HKD 1,000. (+ HKD 1,150 for annual registration).
Unlimited Company.
 
 
No minimum capital.
minimum 2 partners.
 
 
Their liabilities are unlimited and joint.
HKD 1,000 + HKD 6 to every additional HKD 1,000. (+ HKD 1,150 for annual registration).
Private Limited Company.
 
 
In practice 10,000 HKD minimum.
minimum 2 partners.
maximum 50 partners.
 
 
Their liabilities are limited to the amount of contributions.
HKD 1,000 + HKD 6 to every additional HKD 1,000. (+ HKD 1,150 for annual registration).
Public Limited Company.
 
 
No minimum capital.
minimum 7 partners.
 
 
Their liabilities are limited to the amount of contributions.
HKD 1,000 + HKD 6 to every additional HKD 1,000. (+ HKD 1,150 for annual registration).
General Partnership
 
 
No minimum capital.
minimum 20 partners.
 
 
Their liabilities are unlimited for the debts and obligations of the association.
HKD 2,250 for annual registration.
Limited Partnership.
 
 
No minimum capital.
minimum 20 partners
 
 
At least one partner should have unlimited liability. Liability of other partners is limited to the amount of contributions.
HKD 2,250 for annual registration.
 
 

Business Setup Procedures

Administrative Formalities
Company registration in Hong-Kong is rather simple. Hong Kong’s Companies Registry and the Inland Revenue Department (IRD) had launched in 2011 a new regime of one-stop company and business registration, together with a one-stop notification of change of company particulars. Companies can now be incorporated online.
The Competent Organization
Company register
Time Necessary for Registration
Around 3 weeks.
 

Recovery Procedures

Principle
Only a business corporation can be liquidated. A request for reimbursement of debt against the company should be submitted. The Court can decide to order the liquidation of the company. The distribution of assets to the creditors is carried out and the company is dissolved.
Bankruptcy Laws
Company Ordinance,
Bankruptcy Ordinance
Reorganization and Rehabilitation Laws
Further info. on: http://www.legislation.gov.hk/eng/home.htm

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