After making that important decision of investing in Hong Kong, you have to ensure that your business is registered with the authorities in order to avoid problems that might hinder you from advancing in your business. This should be done within the first month of establishment and is done with the Business Registration office that falls under the Inland Revenue Department. The processes involved are very simple and straight forward and does not involve many procedures as evident in other business establishment centers. Upon registration, you are expected to display the registration certificate in your business premises as a proof of legal registration with the Hong Kong management authorities.
For someone who plans to establish a limited company within Hong Kong, however, the procedure is a bit involving. The first major step involves application for company incorporation which goes handing hand with business registration application. Alongside the relevant application documents that might be required during this process is a notice to Business registration Office expressing interest in setting up a company in Hong Kong. In addition, you are expected to make a fixed payment of $3200 which is non-refundable. This is followed by a levy payment worth $750 that is meant to cater for Protection of Wages on Insolvency fund. For better deals however, you can opt to apply for a three year registration certificate at a discount as opposed to applying for the normal one that is renewable annually.
With the advanced technology recently deployed in the city, the whole of this process is estimated to take a maximum of two days if you submit them in paper form and prefer delivery via post office. As for over, the counter applicants, you can have your Business Registration certificate in just thirty minutes! For those who opt for online application, the Business registration certificate and Certificate of incorporation can be issued by the Company Registry within an hour of submission. However, paper applications that are made under one-stop company incorporation and business registration service are bound to be cleared and certificates issued within four days after application. Upon registration, you are free to carry out your business with the least of interruptions at no extra charges. However, for those who opt for the annual option, you have to ensure that the certificate is renewed after the elapse of every twelve months if you are to stay safe with the authorities.