Incorporating Through Platforms Or One-Stop Services?

Incorporating Through Platforms Or One-Stop Services?

Whether you are expanding or relocating your business to Hong Kong, as an entrepreneur you should always take considering of the two important stages:

  • Stage 1: Incorporate on your own, or using a one-stop service
  • Stage 2: Incorporate with the most suitable business structure

The first stage: Decide on whether you can do it yourself or need a one-stop service for incorporation

Using an online platform would certainly saves you cost. The major downside is you need to know exactly what you are doing during every step of the entire company incorporation process.

There are many full services available such as this company incorporation service in Hong Kong.

A full-stack service like this would provide company bank account opening service and company secretary service. Having a secretary is a compulsory requirement by laws, and the director or shareholder of the business cannot act as the company secretary.

The incorporated company must have a valid Hong Kong based address which cannot be a postal box address. When the owner has decided there will be a period of time the business will not physically have an office located in HK, it is legal provided that the business uses a valid registered office address supplied by the service.

When the daily operation gradually grows, the business may need a virtual office service or even rent a serviced office. By this time the business may recruit staffs from HK locally, or transfer one of the employees from overseas to physically work from Hong Kong. That is not a problem at all as long as their Hong Kong work visas are applied, approved, and acquired.

Do not forget when your business has started operations in Hong Kong, additional operations will have to be dealt with. These are operations you do not have to take care on a daily basis. But because they are done once every 12 months or 6 months or whatever intervals, you will not hire full time staffs to especially work on them. Company accounting, auditing, tax filing, and payroll are those operations. It is much better to use a full-stack service to take care of all these. You will end up saving many hours of trouble.

The second stage: Decide on which business structure is suitable for you

It is important to select the right type of company for your business in the first place. Your correct decision will certainly help maximizing your chances of financial and operational success.

  • Limited company
  • Sole proprietorship
  • Branch office
  • Representative office

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