Question 1

What types of companies exist in Hong Kong?

Accepted Answer

The most common type of company in Hong Kong is the private company limited by shares. However, there are also other possible, although less commonly used, forms of companies with foreign shareholders. See this post we published on our blog, addressing this topic .

Question 2

How long does it take to register a company in Hong Kong?

Accepted Answer

Up to 7 days, usually. However, you should also consider the time required to make important decisions about the company and prepare and send documents to Hong Kong, which usually takes longer.

Question 3

Do I need to travel to Hong Kong to open a company?

Accepted Answer

It is not necessary. Brazil can do the registration for you . (link to the page open a company in hong kong)

Question 4

Do I need to travel to Hong Kong to open a company bank account?

Accepted Answer

Yes, conventional banks in Hong Kong require key people to visit the company. However, there are money operators in Hong Kong, focused on startups and small businesses, that offer virtual multi-currency accounts with a 100% online opening process.

Question 5

What are the requirements regarding the corporate and shareholding structure of a Hong Kong company?

Accepted Answer

The company must have at least 1 shareholder, who may be an individual or a legal entity, must have at least 1 director who is an individual, must have a corporate secretary and a registered address in Hong Kong. Brasia offers corporate secretary and registered address services, as well as commercial use.

Question 6

Does the company director have to be a local or Hong Kong resident?

Accepted Answer

It is not necessary. A foreigner or resident of another country can be appointed as a director of the company. However, it is necessary to note that this director will need to sign important company documents from time to time and send them to Hong Kong.

Question 7

What is the minimum capital required to register a company in Hong Kong?

Accepted Answer

The minimum registered capital for a company limited by shares in Hong Kong is HKD 1.00. The registered capital can be increased after the company is incorporated, but this may be subject to additional costs and stamp duty . It is necessary to take into account the resources required for the registration and maintenance of the company until its operations have sufficient revenue to cover local costs.

Question 8

Does a company in Hong Kong need to have its own office or can it use a shared address?

Accepted Answer

It is possible to use a shared office to register your company. This is a common practice in Hong Kong. Typically, service providers who offer this type of hosting provide a local telephone line exclusively for your company and forward all incoming correspondence. This way, you can run your business remotely. Brasia offers a shared address and, when necessary, coworking spaces for local teams.

Question 9

Are companies in Hong Kong subject to tax?

Accepted Answer

Yes. Hong Kong imposes a corporate tax rate of 8.25% on the first HKD 2 million of net profits and 16.5% on the remaining net profits. In many cases, it is possible to obtain an exemption from this tax, depending on the company's activities and the way in which these activities are controlled. In addition, there is no import or export tax on most products and there is no tax on dividend payments or capital gains.

Question 10

Does a company in Hong Kong need to do accounting?

Accepted Answer

Yes, a Hong Kong company needs to keep accounting records of all its transactions, with supporting documents, and prepare an annual income tax return. In addition, the accounting records need to be subject to an annual audit. Brasia offers all accounting, auditing and annual return services to keep your Hong Kong company up to date. We also offer customized reports in Portuguese for consolidating balance sheets. (create link with brasia services - accounting audit)

Question 11

What is Hong Kong's fiscal year?

Accepted Answer

The Hong Kong government follows a fiscal period from April 1 to March 31, but your company is free to choose the period that best fits your schedule. Many companies choose the period from January 1 to December 31.

Question 12

Is the information of directors, shareholders and controllers of the Hong Kong company public?

Accepted Answer

Yes. In Hong Kong, anyone can access information about the directors and shareholders of a company by paying a fee to the government. In addition, companies must keep an internal register of their controlling and beneficial owners, which is available for inspection by the Hong Kong government.

Question 13

Can a Hong Kong company export products from mainland China?

Accepted Answer

No, a Hong Kong company is not considered a Chinese company. Exports from China always depend on a mainland Chinese company with an export license to export the products from the country. A Hong Kong company can buy products from a Chinese exporter and export the goods to the international market.

Question 14

What should I consider when deciding between opening a business in Hong Kong or mainland China?

Accepted Answer

The decision about where to locate your company will depend on the scope of your activities. See this material we published on our blog with some tips. ( https://www.brasia.hk/en/post/how-to-decide-between-opening-a-company-in-china-or-hong-kong)(https://www.brasia.hk/en/post/how-to-decide-between-opening-a-company-in-china-or-hong-kong)