There are two types of business registration. One is the individual’s registration; the other is the partnership or the limited liability company. Individual business registration is mandatory for people to start a business. However, business registration is not compulsory for companies. If you wish to register your business, you will need to ask your company’s director to inform the authorities.
The post of registration is called as an official arrangement between a person as well as a company. Area 86 of Hong Kong Corporation Law, the statutory definition of it: * Legal arrangement between a company, and person registration will probably take from the time when the company is incorporated as well as taking into consideration each individual and each of its shareholders. To be registered as a Hong Kong corporation registration is mandatory following Law 652.
Registration will specify the details of the legal agreement between the legal entity and the individual, one of its shareholders. It will also specify the details of the legal document that must be signed by the person or the shareholders, and the signature must not be forged.
Individual Business Registration requires that you submit a form of application and you will be asked to pay a registration fee before the authorities grant you registration. Business Registration is required to own and manage a business; it is also required to hire new employees.
A limited Liability Company is a type of company that only has one member. For this, you do not have to show that the company has a separate name. You can have the same name as the person who will be the president of the company. You will not need to show that the name and the address of the company’s address are listed. To register a company, you will have to pay the standard fee. Still, you will be required to provide some information about the company, and the authorities may verify the information.
Partnership Company Registration is a kind of company registration that permits you to have two or more partners on your own business. You can have two directors. It is also mandatory. To register a partnership, you will need to pay the necessary fee as well as you will have to provide personal information about the person who will be the president and the secretary.
The two types, as mentioned above of business registrations, are very different, and they require different procedures to register your business. So, do not choose the right one at the first try. It is better to check several business registrations online to make sure that you will be registered.
There is no doubt that business registration is the first step to having a company in Hong Kong. To register a company in Hong Kong, you should know all the formalities involved in doing so.
The different procedures involved include several different requirements that you need to follow.
To register a company, you will need to complete the Registration Company Form. It is usually available on the Internet, and you can download this form from the Internet.
There are some documents that you have to fill out and submit, including an application form.
Other documents that are required include Articles of Association, Letters of Assumed Name, Certificate of Registration, Certificate of Corporation Number, and an Application to be Accepted and a Certificate of Registration. The latter will be the official document that will be filed with the local authority.
The Hong Kong Corporation law is stringent, and it requires every business to be registered. If you are new to this business, then you must understand that it is very time-consuming to get your company registered. Hence, the best option is to hire a professional company that will help you with all the formalities.