Let us assume someone runs a business in Hong Kong. They have been undeniably successful and wish to expand their business to a larger scale. This would require a large amount of resources which include human-labor and employees, goods, finance and a strong and solid group of people who lead this business. What they are looking for, is to turn their business into a “corporation” or in simpler words, turn it into an “incorporated company”.
A Company is an individual entity with a large amount of resources, lead by a group of people called the Board of Directors who have the authority of decision making in the company. Essentially, an incorporated company is a separate entity that has a stamp of its own and has legal limitations like any other individual does. Here is some information about hong kong company formation.
What is “Incorporation”?
For a company to be “incorporated” is nothing but the company being formed. So, incorporation means the formation of the company. There are several laws that limit and filter the incorporation of companies. Incorporation is often referred to as company registration. This is because one is registering the business to be an individual entity headed by a board of directors.
What is the Companies Registry in Hong Kong?
In Hong Kong, the Companies Registry is a government department. It falls under the Financial Services and the Treasury Bureau of the Government of Hong Kong and was founded in 1993. For a Hong Kong company formation one has to register with this department. Its role is to look after the registration of companies, partnerships, and trust companies. It aids the formation of companies or changes in the names of local Hong Kong companies or even outsider companies.
What does it require?
Incorporation of a company is indeed a tedious and long process and often requires a lot of work and professional advice. This is why sites like http://acshk.com/ help-seeking individuals or business professionals to form their company.
Company registration requires one to choose a business name, a business type and even a location for headquarters. Then it requires one to name the board of directors and important posts and positions in the corporation. The Chief Executive Officer or CEO has to be named. The next step requires one to define the type of shares that the company will offer and hold. The type of corporation must also be chosen in this step. After deciding all this, the individual must submit the documents and ask for a certificate of incorporation from the government. Once the certificate is provided, the process of paper work and filing will begin!
Getting a company registered often requires hours of tedious legal services for which outsourcing is the best option.