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Invest Hong Kong Setting Up in Hong Kong

Setting Up in Hong Kong

Setting Up in Hong Kong

Hong Kong is one of the top global cities for setting up a business, thanks to the simple Hong Kong tax system, which offers some of the lowest taxes in the world. With a streamlined process for registering a company, you can enjoy low setup costs, a simple tax structure, friendly immigration policies, and a supportive environment that fosters growth. InvestHK is always available to assist in the setup and expansion of businesses in this dynamic Hong Kong landscape.
Hong Kong is one of the top global cities for setting up a business, thanks to the simple Hong Kong tax system, which offers some of the lowest taxes in the world. With a streamlined process for registering a company, you can enjoy low setup costs, a simple tax structure, friendly immigration policies, and a supportive environment that fosters growth. InvestHK is always available to assist in the setup and expansion of businesses in this dynamic Hong Kong landscape.
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Steps to Setting Up
Useful Resources

Steps to Setting Up

Choosing the company type you need—whether it is an individual proprietor, limited company, branch or subsidiary—depends on various factors including liability preferences, operational needs, and tax considerations, and what you will call it.

Company Types

i. A Limited Company:

If you are starting fresh in Hong Kong, setting up a Limited Company (HK Limited Company or Hong Kong Ltd Company) is the most common way to go.

  • Your company will be incorporated in Hong Kong, offering limited liability to its owners, meaning your personal assets are protected from business debts
  • Owners can take advantage of all the tax benefits and concessions available to any fully incorporated business, such as the two-tier corporate tax rate
  • You can also enjoy benefits such as the Closer Economic Partnership Arrangement (CEPA) , a free trade agreement with Chinese Mainland

ii. A Branch Office of a Parent Company:

Already running a business outside Hong Kong? A Branch Office lets you establish a presence here while staying connected to your parent company.

  • Make sure you registered with the Companies Registry as a "Registered Non-Hong Kong Company" within one month of establishment
  • Unlike a subsidiary limited company, a branch office is not a separate legal entity from the parent and can leverage funds using the credit rating of its owner. The parent company holds full responsibility for any debts or obligations incurred by the branch

iii. Representative Office:

Not ready for full operations yet? A Representative Office lets you explore Hong Kong’s market without substantial investment.

  • A representative office cannot engage in profit-making activities and can only fulfil limited functions on behalf of a company, such as market research or liaison activities
  • Useful for companies exploring the Hong Kong market before making a larger investment
  • If you start doing business that creates legal obligations, you will need to switch to a limited company or branch office

Company Names

Limited companies incorporated in Hong Kong cannot have the same name as any company already listed in the index kept by the Companies Registry. You can simply check name availability for free on the Companies Registry’s e-Services Portal

Company Structure

Most limited companies incorporated in Hong Kong are private companies limited by shares. A private limited company in Hong Kong requires at least one director and one company secretary.

  • Director(s): You need at least one director, who must be a natural person. And, if you have only one director, the sole director cannot also be the company secretary.  A non-Hong Kong resident can be appointed as a director
  • Company Secretary: Every company must have one. If the company secretary is a person, he/she should ordinarily live in Hong Kong. If it is a body corporate, it must have a registered office or business address in Hong Kong
  • Shareholders: No requirement for shareholders to be Hong Kong residents. The sole shareholder can also be a director of the company

Significant Controllers Register

If you set up a limited liability partnership (LLP) or limited company incorporated in Hong Kong, you will need to obtain and maintain up-to-date beneficial ownership information by keeping a Significant Controllers Register. This is to enhance transparency of corporate beneficial ownership and fulfil Hong Kong’s international obligations. You will have to make it available for inspection by law enforcement officers upon demand.

You can enjoy a seamless company incorporation and business registration with the Hong Kong Companies Registry (CR).

How to Apply

There are two ways to submit your application — either online via the 24-hour e-Services Portal of the Companies Registry (CR), or by delivering the documents in hard copy to the CR with the correct fees.

Any application for company incorporation will include a simultaneous application for business registration. 

You will need to get these ready: 

  • Incorporation Form (Form NNC1 for company limited by shares) or Form NNC1G (for company not limited by shares)
  • A copy of the company’s Articles of Association
  • A Notice to Business Registration Office (IRBR1) 

Fees

The fees for incorporating a company limited by shares are:

Processing Time

Online applications for company incorporation and business registration are normally processed within one hour. Hard copy applications will typically see the Certificate of Incorporation and Business Registration Certificate issued within four working days.

Companies are required to register with the Inland Revenue Department's Business Registration Office within a month of commencing operations. After registering your business, you are required to visibly display your Business Registration Certificate at your business location.

You need to submit documents to the Companies Registry (CR), as indicated in Step 2, when applying for company incorporation. The following items are required in addition to the incorporation documents:

  • A notice to the Business Registration Office (IRBR1)
  • The prescribed business registration fee and levy, as well as other fees payable under the Companies (Fees) Regulation (Cap. 622K)
  • A levy to the Protection of Wages on Insolvency Fund: HK$150 for a one-year certificate; HK$450 for a three-year certificate*

*Please note there might be some concessions from time to time.

Processing Times

You can receive your certificate in 30 minutes for in-person applications. Otherwise, you can expect to receive it by mail within two working days.

Business registration certificates can be obtained through the one-stop company incorporation service. These certificates will be issued along with the Certificate of Incorporation by CR. 

Online applications typically take about one hour to process. Hard copy applications, on the other hand, usually take around four working days to process.

Useful Resources

Businesses and individuals in Hong Kong enjoy one of the most tax-friendly systems in the world. Only three direct taxes are imposed and there are generous allowances and deductions which can reduce your taxable amount. 

The Three Taxes Are:

  • Profits tax for the first HK$2 million of profits of corporations is 8.25%. Profits above that amount will be subject to the tax rate of 16.5%. For unincorporated businesses (i.e. partnerships and sole proprietorships), a corresponding two-tiered rate of 7.5% and 15% applies
  • Salaries tax at progressive rates ranging from 2% to 17%; however, the maximum tax will be limited to tax at the two-tiered standard rates (15% on the first HK$5 million of net income and 16% on the remainder) 
  • Property tax of 15%

What You Don’t Pay in Hong Kong

  • No sales tax or VAT
  • No withholding tax
  • No capital gains tax
  • No tax on dividends
  • No estate tax

Free Trade Port

As a duty-free port, our free trade policy and efficient customs procedures make importing, exporting and global trade hassle-free

Did you know travellers from over 170 countries and territories can visit Hong Kong visa-free for 7 to 180 days with our business-friendly immigration policies? If you are thinking of staying longer — whether for work, investment, or residency — we have got a range of visa and entry permit options to suit your needs.

Investment & Entrepreneurship

  • New Capital Investment Entrant Scheme (New CIES): This scheme is open to qualified individuals aged 18 or above. This includes foreign citizens, Chinese citizens with permanent residency in a foreign country, residents of Macao Special Administrative Region, and Taiwan's Chinese residents. Each applicant is required to demonstrate that they have a net worth of at least HK$30 million, which they have fully and beneficially owned throughout six months preceding the application. Jointly-owned assets with family member(s) can also be taken into account

    You must invest a minimum of HK$30 million in permissible investment assets, including investing a minimum of HK$27 million in the permissible financial assets and/or real estate (subject to an aggregate cap of HK$15 million (among which the cap on residential real estate is HK$10 million)), and placing HK$3 million into a New CIES Investment Portfolio. The portfolio will be set up and managed by the Hong Kong Investment Corporation Limited to invest in companies/projects with a Hong Kong nexus, with a view to supporting the development of innovation and technology industries and other strategic industries that are beneficial to the long-term development of the city’s economy

  • Investment as Entrepreneurs: Got a great business idea? You could obtain residency by contributing to Hong Kong’s economy. Applications from startups that are endorsed by government-sponsored initiatives with rigorous selection criteria may be considered favourably

Talent Admission

  • Top Talent Pass Scheme (TTPS): If you are a high-earning professional or a graduate from one of the world’s top universities, this scheme is your ticket to exploring opportunities in Hong Kong

  • Quality Migrant Admission Scheme (QMAS): Highly Skilled professionals can apply for residency under this points-based system. You don’t need a confirmed local job offer prior to you arrival in Hong Kong for residency. You will need to fulfil specific initial criteria first, then earn points through either the General Points Test or the Achievement-based Points Test to compete for a spot

  • Admission Scheme for Mainland Talents and Professionals (ASMTP): If you are from Chinese Mainland with unique skills not easily found in Hong Kong, this open-to-all-industries and quota-free scheme could be your pathway

  • Technology Talent Admission Scheme (TechTAS): Companies that have been granted quotas by the Innovation and Technology Commission (ITC) can fast-track work visas or entry permits within the 24-month quota validity timeframe for foreign tech professionals to conduct R&D tasks in Hong Kong. They will also need to hire new local employees in technology-related work

  • Sector-specific Labour Importation Schemes: Administered by the relevant bureaux and departments of the HKSAR Government, or by statutory organisations of the HKSAR in conjunction with the specific sectors, these schemes allow employers with genuine difficulties in recruiting suitable labour locally to bring in labour from outside Hong Kong

  • General Employment Policy (GEP): The GEP allows companies to hire overseas professionals with special skills, knowledge or experience under this no-quota, open-to-all-sectors programme

Visa recipients can also relocate their spouse and children under the age of 18 to Hong Kong, given they have adequate financial resources and appropriate housing.

For the latest enrollment schemes for skilled individuals, professionals, and business owners, kindly click here.

Before setting up a company bank account, be sure to register and incorporate your business — your bank will ask for these documents. Each bank has its own requirements, so they will let you know what other documents are needed. You may expect a minimum deposit (amount varies by bank), as well as a proof of identity and residency for all company owners (required under Hong Kong’s anti-money laundering guidelines). Need more details? Check out the Hong Kong Monetary Authority.

Hong Kong has a wide variety of office spaces to suit every business, from startups to large corporations. At InvestHK, we can guide you to a premier business location or recommend flexible rental options and connect you with relevant real estate providers or relevant networks. Not sure where to start? Our team is ready to assist.

Here’s what you need to know about when you are hiring employees:

You may also check the Employment Ordinance for full details.

If you are wondering how much it will cost to run your business in Hong Kong, get a quick estimate by selecting your options below.

To get an estimation on the costs for setting up and operating an office in Hong Kong, please enter your choice for the following selection boxes.

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Estimated Costs

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Data Sources: Rating and Valuation Department and Census and Statistics Department of the HKSARG.

The estimated costs are our best estimation based on existing data sources available and they are provided on an “AS IS” basis without any express of implied warranty of any kind by InvestHK.")

Data Sources: Rating and Valuation Department and Census and Statistics Department of the HKSARG.
The estimated costs are our best estimation based on existing data sources available and they are provided on an “AS IS” basis without any express of implied warranty of any kind by InvestHK.

Our Service Providers Directory <investhk.getproven.com> offers resources to facilitate your business set up and expansion within and outside Hong Kong. It is accessible to users around the clock online, and service providers may update their company profile anytime.

Hong Kong companies wishing to register as a service provider on the Directory can send their contact details (including name, telephone number and e-mail address of contact person) and basic company information (including company name and URL of company website) to register@investhk.gov.hk.

Note: The Directory is not a comprehensive list. The information on the Directory is provided for a general, indicative purpose only and does not imply having obtained InvestHK’s endorsement or recommendation. Users are recommended to make their own assessment of the information contained on this Directory and to verify such information by making reference, for example, to original publications and obtaining independent advice before acting upon it.

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