Even people who own many companies admit that the task of setting up a company is so exacting that failure to meet just one crucial component will stymie the rest of its functions. Meticulous and painstaking care must be exercised to place a company on a proper financial, manpower, asset and legal footing before it can function properly as a profitable company. At Jumpstart we offer you the best deals for accomplishing just that in Hong Kong.
The first most important step
Obtaining a valid visa is very important, but business professionals agree that if you decide to venture away from home and go to Hong Kong to start a business office or branch there, you must have an extensive professional network. This means knowing many companies and business professionals in Hong Kong like Jumpstart. If you have such connections, you have sponsors and having sponsors mean you can get into the country faster and face less hassle than if you didn’t have the connections. But don’t stop there! Fan out and explore and know more businesses especially the local ones and their owners. Fraternize with them. Learn Chinese and study the culture. It will pay untold dividends in the end.
The choice is yours to make
Assuming that you have a visa and a lot of connections, the next step is in deciding what type of company you want to set up. In Hong Kong, various options await you.
• Hong Kong Limited liability: this is the most popular option with minimal setting up effort. Incorporating in Hong Kong means you are covered by Hong Kong’s Company Law. You can obtain Hong Kong’s business registration certificate for operating in Hong Kong.
• Overseas Limited Company: A limited company incorporated overseas, like the British Virgin Islands (BVI), can operate in Hong Kong by obtaining a business registration. While BVI companies have some advantages for shareholder’s information, some banks may require additional fees or reject openning an account. Most banks also required the company to declare its ultimate personal beneficiaries.
• Sole proprietorship: This business set up makes the single owner liable for his company’s business and all assets owned by the company. It is more appropriate for self-employment type of business.
• Partnership: An unlimited liability company by 2 or more persons without shares which is pretty much unprotected. If there more than 1 partner, incorporating a limited company is a better choice.
The next steps
After choosing a company name and a legal entity, you will still need to fulfill other requirements. These will include registration, setting up bank accounts and taxes. At Jumpstart, we are specialists when it comes to formation of a company start-up after having had a great deal of experience over the years in handling them. Come to us, and we will address your needs with accuracy and speed so your company can be up and running in no time.
Ring us now on +852 2961 4899 and you will see how fast you can start operating your business.