Sat, Jan 3rd 2015, 13:13
After you have evaluated all the necessary points and has made sure that you are in every way allowed to formulate your own company, the next thing on the line is to choose the type of entity that you are going to invest in.
After you have evaluated all the necessary points and has made sure that you are in every way allowed to formulate your own company, the next thing on the line is to choose the type of entity that you are going to invest in. Hong Kong is one of the most developed nations in the world and every kind of business is having the time of their lives there. However, this is your initial investment and you do not want to take risks, even if the market is booming right now. Here are the entity options you get while setting up business in Hong Kong:
Limited company – The easiest and safest option that you could find is a LLC or a Limited Liability Company. For a limited company formation, all you need here is to decide a unique name for the organization, create a director or board of directors, shareholders ranging from 1 to 50, registered address in Hong Kong, company secretary, last but the most important, capital.
Proprietorship – With you being the sole owner of the company, this is a business entity that is best for startups and small-scale businesses. This is a type of HK company formation where there are no other owners and you will be solely responsible for all your assets and liabilities.
Partnership: At least owned by two people, a partnership business entity has its own advantages and disadvantages. All the partners have an equal say in the company decisions and will be fully liable for each other’s actions. There is also an option act as a silent partner where you will be investing in the company, but won’t have a say in its everyday affairs.
Branch or subsidiaries: While the corporation service company can establish their branch in Hong Kong, it will not be fully responsible for all actions of the organization. All the complaints and issues raised will be solved at the company’s main branch instead of the Hong Kong based branch. A subsidiary on the other hand is a separate legal entity of your existing company that you can establish in the country.
Hong Kong company incorporation is quite an easier process if you follow the course as suggested. There are various consultants who can assist you in investing on the best business entity option. They keep a track of all the market updates and changes and give you timely information of which business is currently doing well. Your decisions will be, therefore, based on true facts and stats that will assure its success.
There are other obligations to setting up business in Hong Kong, such as choosing a company name, registering it, attaining the legal permits and certifications, etc. All these tasks can be taken care easily if you find the right team of consultants. They are of great help whenever it comes to overseas company formation. Search on the web to find some of the most reliable professionals and get on with your business formation.
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