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🚀 10-Day Start-up Series 🔥 27th June 🧵 Post 1️⃣4️⃣ : Now let's talk about incorporating company in Hong Kong as we have discussed about incorporating in USA, UAE, SG and HK is also one the good place to incorporate a company. We will see why and how to incorporate in Hong Kong. 🌎 Global incorporation : Hong Kong 🇭🇰 🎯 Why to incorporate in Hong Kong ✅ Trade friendly ecosystem ( Good for many kind of trade, especially for who is looking to get into chinese markets ) ✅ 100% Foreigners ownership ✅ Free trade and investments ( has free trade policies with so minimal policies and also no tariff on most goods ) ✅ No VAT or No GST ka tension ( Main reason people incorporate in HK ) ✅ Gateway to core Asia - China and Southeast Asia again. ✅ Legal system is very strong in HK, strong protection for POC ( protection of contracts ), IP ( Intellectual property ) and also helps to protect Investor's rights ✅ Best tax frameworks, like corporate tax is capped at 16% and upto HK$2M tax is capped at 8%, no capital gain tax, no withholding tax ( doesn't matter for startup much ) ✅ Global banking hub, it has signed DTA ( Double taxation agreements with more than 35 countries ) The process to incorporate Company in Hong Kong is easy as f....... 😉 far as now 1. Choose your company name and follow the guidlines for company name and register on e-service. https://www.cr.gov.hk/en/companies_ordinance/docs/Guide_RegCompName-e.pdf 2. Hire a company secretary and local registered address is mandatory 3. Fill NNC1 form offline / online on e-service. You can get your form for offline here : https://www.cr.gov.hk/en/forms/specified.htm#26 search in popular form NNC1 & IRBR1 at the end. For e-service : https://www.e-services.cr.gov.hk/ First register on e-service and here is the guide to register : https://www.cr.gov.hk/en/publications/docs/24-e.pdf https://www.cr.gov.hk/video/eservices/e-Incorporation%20(NNC1)%20(EN)%20v0.3.mp4 You can check out below link to guide you on how to incorporate it online : https://www.cr.gov.hk/en/publications/docs/27-e.pdf Guide on how to submit your documents https://www.cr.gov.hk/en/electronic/e-servicesportal/docs_submission.htm And Hong Kong accepts your hard copy submission too ( You can submit it to HK Company registries ) 4. You can then open your local bank account ( HSBC is one of the main and popular ) 5. Apply for any other licence if required Time required ⏰ : Usually 5-7 working days 💰 Cost : Depends on many factors you can check out from below mentioned link https://www.cr.gov.hk/en/publications/docs/3-e.pdf ✅ Good for ecommerce, cross-border, crypto startups ( and also if you need subsidiary companies for trading ) ⚠️ Remember Banking is strict in HK like RBI itself, so choose a better bank like HSBC i mentioned. Don't just incorporate by seeing few advantages always think twice or even thrice does your company and goals fits incorporating in this country only then proceed. If you are considering to have a branch or subsidiary then it's fine no worries. If y'all need more information : https://www.cr.gov.hk/en/services/register-company.htm Drop comments if y'all have any doubt lemme clear ⛵ *This Post adhers to all community guidelines* *The image used below is sourced by Google image* * The content is based on personal research and made it easy to understand, also all websites mentioned are property of HK goverment*