Doing Business in Hong Kong
Hong Kong is major center for international finance, trade, transport and logistics, professional services, communications and tourism. A strong and well-regulated legal and financial sector, tax policies, excellent infrastructure, free press/free flow of information, pool of managerial talent with international experience and technical expertise, ease of access and proximity to major markets, including Macau and China’s Pearl River Delta, makes Hong Kong an ideal location for almost any type of business. Food and beverage and restaurant businesses, fashion and jewelry companies and financial services firms of all kinds are thriving in Hong Kong. There is a shortfall of skilled professionals and services staff in nearby Mainland China, and Hong Kong headquartered management, design and marketing, legal services, transport and logistics, finance and accounting services companies have been given an opportunity to fill this void.
Gateway to China and Asia
Hong Kong is an ideal location for the corporate headquarters of an Asia-based business. Many of our clients in Hong Kong are small and medium-sized enterprises or larger-sized corporates who chose Hong Kong as a regional base. The country does not levy capital gains or withholding taxes and currencies are not controlled in Hong Kong as they are in Mainland China. Much of our work in Hong Kong has and continues to be China-related. Our Hong Kong professionals work closely with our professionals in mainland China to provide the legal and consulting services our clients require in Hong Kong and China as a team.
Our professionals in Hong Kong provide a full range of legal services to multinational corporations, small and medium-sized businesses, family owned enterprises, start-up companies and individuals who have invested into Hong Kong. We assist Hong Kong companies with their outbound investments as well. The majority of our clients who have invested in Hong Kong utilize this jurisdiction as a gateway for their investments into China and other Asian countries. Alongside the provision of legal services, our professionals provide consulting services such as company establishment, trademark registration and accounting services to compliment and strengthen the services our lawyers provide.
Moxiu is a registered Trust Company Service Provider (TSCP) holding a TSCP license and is often in engaged as the Company Secretary of our client’s business in Hong Kong to act as Company Secretary (as defined in the Companies Ordinance), provide a registered business address, prepare documentation for and file the Company’s annual return, organize and maintain the statutory documents of the Company, issue shares, appoint and/or remove directors and shareholders and to take measures to ensure the Company is in compliance with government regulations.
Although establishing a company in Hong Kong is fast, efficient and inexpensive, it is important for business owners to know that a Hong Kong company has ongoing accounting and legal compliance obligations that must be fulfilled and the Hong Kong Companies Ordinance requires a limited company to appoint a Company Secretary. The main function of Company Secretary to ensure that a company meets its statutory requirements. Our company company secretary services include:
- Provision of a registered address in Hong Kong
- Opening company bank accounts
- Appointing directors
- Obtaining business licenses and registration certificates
- Payment of stamp duty
- Maintaining statutory records
- Preparing necessary documents for the Annual General Meeting
- Preparing the Annual Return
- Preparing documents to change directors or secretaries or their personal particulars
- Alteration of share capital
- Changing provisions in the Articles of Incorporation of a company
- Change of company name
- Transfer of shares
- Establishment of accounting systems
- Compilation of financial statements
- Making arrangements for statutory audits