The benefits of Hong Kong company formation are numerous. It is a simple process that does not take long to finalize. There are no fees to be paid and no hassle. However, it is essential to note that there are a few issues that professionals best handle. If you want to know more about Hong Kong company formation’s benefits, read on to find out.
There are many benefits of Hong Kong company formation Hong Kong, and they all come from how easy it is to create such a company. First, if you wish to make a limited liability company in Hong Kong, you can do so at minimal expense. Limited liability company registration in Hong Kong costs less than the equivalent international registration process. You have to pay a registration fee when you wish to incorporate, but this fee is minor and affordable.
Second, you will have your company up and run as soon as you incorporate it. International company formation takes months or more, and there are no guarantees that everything will go smoothly. However, once you select the company name and register it, you are ready to go. Hong Kong company formation Hong Kong has a simple set up process that allows you to incorporate your company quickly.
Third, with the company formation of Hong Kong, you can establish a permanent address for your company. While this does make the company quite portable, it can also make it quite challenging to get your business up and running in a new location, especially if you have no contacts in the area. Once you have an address registered, you have a permanent address accessible, allowing you to have your company up and running from the very start. You can move to whichever part of the world you want, whenever you want – and your company registration in Hong Kong will not affect this.
Fourth, company formation in Hong Kong allows you to run your business even more efficiently. With traditional business registration in Hong Kong, you must be a majority shareholder to purchase shares and own the company. You cannot be the director or any other executive positions, nor can you manage your company. It is cumbersome for the busy entrepreneur – especially if you also need to pay a large staff. Company formation in Hong Kong gives you all these benefits at a low price.
Fifth, company formation in Hong Kong also allows you to save on administrative costs. When you register a company, you will be allotted a company secretary and an accountant – two people will always have to pay two people. If you do not wish to spend money on their service, you might not run your business as smoothly as you would like. You will also have to keep in mind the hefty annual fees the company secretary and accountant charge, and this will add up to your expenses.
Sixth, company formation in Hong Kong also allows you to register your company with more than one director. A director or two may be more than enough, mainly if your company comprises many small companies with just one director. You do not have to appoint a company secretary for every director since you can select two or more directors. It will increase the number of shares that your company can issue. Furthermore, you do not have to pay the significant controllers to register your company, since you will not have much to pay them anyway.
Seventh, it is cheaper to use the Hong Kong companies registry than having to use the International Business Bureau’s company name database. Companies registry prices are affordable, and you will have access to the names and other information of all registered companies and their shareholders. Most importantly, you will not have to pay for the services of a company secretary or accountant. Also, you will not have to worry about paying the registration fees of other foreign corporations. The only thing you must pay for is the Hong Kong company name, which can be very affordable. Lastly, company formation in Hong Kong allows you to oversee your company since you will be the only one who can decide its future direction and operations.