Hong Kong is a city known for its economic affluence and numerous business opportunities. It offers several advantages to companies. Even without residing in the city you can start a business and do business. However, this ease of enterprise must follow certain very specific rules. Here is what you need to know to start a business in Hong Kong.
No minimum capital requirement
Setting up a business in Hong Kong does not require a minimum share capital. Similarly, the deposit of share capital can be made in any currency. For more information, go to primasia.hk. In reality, the share capital of a company is the amount that will be recorded on invoices and represents the identity card of a company. For sole proprietorships, it is not necessary. In addition, the authority of company founders depends on their capital shares. In Hong Kong, the founder must necessarily have a minimum of action in the company.
A mandatory local address
To set up a business in Hong Kong, it is necessary to provide a local address. It is therefore mandatory to have an office or workspace residing in the city. In addition, it is possible to have a local address even if you run your business remotely or abroad. To obtain it, specialized companies grant on request a local domiciliation address for your company.
A necessarily validated company name
The name of the company must necessarily be approved by specialized bodies so that the company is included in the register of companies. In order for the company name to be validated, precise rules have been established. The name must not be identical to those registered in the Hong Kong Companies Register. Nor must it invoke an offence or constitute a criminal offence against the standards laid down in the companies register.