Guide for Setting Up Business in Hong Kong

Hong Kong practises free trade and adopts an open market policy. Registering a business in Hong Kong is a simple, quick and straight-forward procedure.

Business registration

All businesses in Hong Kong must obtain a Business Registration Certificate from the Inland Revenue Department within one month of the commencement of the business. The certificate must be renewed annually. Processing time is 30 minutes over the counter or two working days by post. The fee is HK$2,600 (US$333).

For further information, please visit the website of the Inland Revenue Department.

Company registration

Incorporating private limited companies and registering branches of overseas companies are the two commonly used forms of business entities for foreign investors.

For further information, please visit the website of the Companies Registry.

Incorporating a limited company

The application has to be made to the Companies Registry. The proposed name for the company should first be checked for uniqueness at the Companies Registry. Processing time is six working days and the fee ranges from HK$170 (US$22) (for companies without share capital) to a maximum of HK$30,000 (US$3,846).

For further details of types of documents required, please visit the website of the Companies Registry.

Registration of an overseas company

The overseas company must apply for registration within one month of establishing a place of business in Hong Kong. Processing time is 22 working days and the application fee is HK$1,720 (US$221) for registration of each document required to support an application.

For further details of types of documents required, please visit the website of the Companies Registry.

Business Licence Information Service (BLIS)

BLIS is a one-stop service run by the HKSAR Government to provide a whole array of information on the licensing requirements for all business operations in Hong Kong, such as factories, restaurants, etc., thereby saving investors' time and reducing the risk of non-compliance with government regulations.

For further information on BLIS, please visit www.success.tid.gov.hk.

Regulatory Environment

Hong Kong has an efficient and business-friendly government. The Government is committed to providing a well-developed regulatory framework within which enterprises can maintain their competitiveness and compete on a level playing field. It aims to provide maximum support and minimum interference to businesses in Hong Kong.

Regulatory authorities for various business sectors and related websites are listed below:

General Areas:
Import/Export - Hong Kong Customs and Excise Department
Tax - Inland Revenue Department
Environment - Environmental Protection Department
Visa /Work Permit - Immigration Department
Corruption Control - Independent Commission Against Corruption
Intellectual Property - Intellectual Property Department
Employment General - Labour Department
Employment Equality - Equal Opportunities Commission
Provident Fund/ Pension - Mandatory Provident Fund Schemes Authority

Sectors:

Air Transport
Airport Authority - operates and maintains the international airport in Hong Kong

Media & Broadcasting
Broadcasting Authority & Television & Entertainment Licensing Authority - oversees the radio & TV broadcast licensing requirements in Hong Kong

Financial Services
Hong Kong Monetary Authority - monitors the banking sector
Securities and Futures Commission - monitors the securities and investment sector
Office of the Commissioner of Insurance - monitors the insurance sector
Stock Exchange of Hong Kong - Public Company Listing

Telecommunications
Office of the Telecommunications Authority - monitors the telecom sector including Internet Service Providers