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    Hong Kong Business
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    Hong Kong Company and Bank Account Package

    Hong Kong Company and Bank Account Package

    Unless otherwise indicated, the company stated in this quotation refers to a private company limited by shares formed and incorporated in Hong Kong in accordance with the Hong Kong Companies Ordinance.

    This package (#HKCLS2) comes with everything that is required by the Companies Ordinance, including company secretary, registered office, designated representative and one corporate bank account in Hong Kong. This fee quoted for this package is valid until 31 March 2023.


    Our fee for this Hong Kong company registration and bank account package is USD2,500, includes handling the formalities to register a company in Hong Kong, provision of a company secretary and a registered office address, provision of designated representative for one year and the payment of official filing fees. We will also help you to open a corporate account in Hong Kong for your new company.

    For the registration of a Hong Kong company, client will need to provide identification documents, such as Hong Kong identity card or passport, and residential address proof, such as utility bill or address of registered office, of each person who will be the member and director. If any member or director is a corporation, a set of the corporate documents of that corporation is needed.

    The registration of a company in Hong Kong can be completed within the same day provided that both the member and director are Hong Kong residents or Hong Kong registered company. If the member and/or director is another corporation registered somewhere else, the whole process could take up to 5 working days.

    If the business to be carried out in Hong Kong by the new company requires extra licence or permit, we can help apply for such licence or permit and our fees will be quoted upon request.

    The fees stated in the quotation are for general reference only and is subject to change from time to time.

    1. Hong Kong Company Registration Services and Fees

      Our fee for handling the registration of a company in Hong Kong, including the provision of registered office, company secretary and designated representative and a bank account is USD2,500. In particular, our fees cover the following services.

      (1)
      Hong Kong Company Pre- & Post- Incorporation

      (a) Name availability check
      (b) Preparation of Articles of Association and other incorporation documents
      (c) Professional service fees and government fees for the incorporation and first year business registration
      (d) Submit the incorporation documents to the Companies Registry
      (e) Collection of Certificate of Incorporation and Business Registration Certificate (valid for one year) form the Companies Registry once the company is duly incorporated
      (f) Preparation of compliance corporate kit, including corporate stamps, share certificates, registers and minutes book
      (g) Minutes of first board meeting/Written resolution

      (2)
      Company Secretary

      Kaizen acts as the named company secretary for your Hong Kong company to comply with filing requirements of the Companies Ordinance.
      (a) Companies Registry (CR) Compliance Alert & Reminders
      (b) Preparation and filing of Annual Return

      (3)
      Registered Office Address

      Kaizen provides a street address as the registered office of clients Hong Kong company. The address can be used for receiving mails, notices and letters sent from the Hong Kong Government and other business letters. Kaizen will process mails addressed to your company by one of the following two ways:
      (a) Kaizen will open, scan the paper mails received, and send the scanned copies to the client by email. The paper letters will be destroyed one month after the date indicated in the email.
      (b) Kaizen will forward mails received to the address designated by client once a month. Actual postage will be charged separately.

      Kaizen will process mails with option (a) by default if no instruction has been received from client. If mails are to be scanned and forwarded immediately, a handling fee of USD10 per batch/time will be charged.

      (4)
      Designated Representative

      Kaizen CPA Limited will act as the designated representative of clients Hong Kong company for one year. The responsibilities of the designated representative include updating and maintaining the Significant Controller Register and liaison and providing assistance relating to the companys SCR to a law enforcement officer.

      (5)
      Hong Kong Bank Account

      Kaizen will help clients company to open a corporate account with a leading international bank in Hong Kong or a bank in an offshore jurisdiction, including preparation of certified incorporation documents as required by the bank, reviewing of bank account application documents prepared by client and liaison with the bank in respect of the bank account application. Please note the bank requires at least a director (and also the authorised signatory) visit their Hong Kong branch personally for the purpose of due diligence requirements.

      It should also be emphasised that our role is limited to providing assistance and it is the sole discretion of the bank to decide whether to open the bank account or not. We do not assume any reliability should the bank decides not to open the bank account for you.

      Note:
      (a)
      The fees stated are exclusive of delivery charge, if any.
      (b)
      The fee quoted above includes the business registration fee for a one-year validity period of business registration certificate. Client can choose to have the business registration certificate with a validity period of 3 years with the payment of the difference fee between the two certificates.

    2. Payment Terms and Methods

      Upon receipt of your confirmation of engagement, we will issue and email our invoice together with the wiring instruction to you for your settlement. Please write our invoice number or account number in the message section of the remittance receipt and send a copy of the same to us after fund is remitted. Because of the nature of services, we require full payment in advance. Also, once service is commenced, no service fee will be refunded except in special cases.

      We currently accept Hong Kong Dollar check, cash or TT and credit card through PayPal only. If payment is settled through PayPal, extra 5% services fee will be charged.

    3. Basic Structure of a Hong Kong Private Company

      The minimum requirements of a Hong Kong company are as follows:
      • One shareholder, one director, one company secretary, a designated representative and one registered office
      • Shareholder can be natural person or corporation and no restrictions on nationality
      • Director can also be another corporation and no restrictions on the nationality; however, at least one natural person be appointed as director
      • Company secretary can be a Hong Kong resident or company; director can also act as company secretary provided that there are two or more directors
      • Must designate a Hong Kong resident as its designated representative
      • Minimum share capital is HKD1; unless otherwise advised, a company will be incorporated with a share capital of HKD10,000 and 10,000 shares

    4. Materials Required for Incorporation of Hong Kong Company

      You will need to provide the following documents and information to Kaizen by email or fax or post for purpose of incorporation:

      (1)
      One photocopy of passport (or identity card for Hong Kong resident) and residential addresses proof (such as utility bill or telephone bill) in respect of each shareholder; ; if shareholder is another corporation, please provide registration documents and the identity and residential address proof of each shareholder or Ultimate Beneficial Owner holding more than 10% of shares in that company;

      (2)
      One photocopy of passport (or identity card for Hong Kong resident) and residential addresses proof (such as utility bill or telephone bill) in respect of each director; if there is corporate director, please provide registration documents and the identity and residential address proof of each shareholder or Ultimate Beneficial Owner holding more than 10% of shares in that company;

      (3)
      Basic background information of your new company, such as the principal business activities, the products to be traded or services to be provided, the location of suppliers and customers, the expected turnover of the first year etc.

      (4)
      A copy of Hong Kong identity card and residential address proof of the person to be acting as the designated representative, if Kaizen is not being engaged to provide the designated representative service;

      (5)
      A duly completed incorporation order form (including Know Your Client Form) (to be provided by Kaizen).

      The identification and address proof listed above must be certified by Kaizen, or by a CPA, lawyer, attesting officer or a bank manager. Client can visit any of our offices with the original identification documents of the shareholder and director and our staff will perform certification, or client could have the documents certified by an accountant or lawyer or attesting officer in the place where she/he resides.

    5. Company Incorporation and Account Opening Procedures and Timeframe

      Normally, the incorporation of a company in Hong Kong can be completed within 2 working days. In the case where any member or director is a legal entity, the process could take up to 5 working days. The number of days is counted from receipt of duly signed incorporation documents by us. Bank account opening can take up to 4 weeks.

      Step


      Description


      Time


      (Day)


      1


      Client confirms engagement of Kaizen for Hong Kong company incorporation; Kaizen issues in voice to client for settlement.


      1


      2


      Client emails the materials listed in Section 5 to Kaizen and at the same time settles Kaizens invoice.


      Clients Schedule


      3


      Kaizen arranges with client to have the identification documents of the member(s) and director(s) verified.


      1


      4


      Kaizen performs a name availability search in the Register of Companies maintained by the Hong Kong Companies Registry.


      Clients Schedule


      5


      Kaizen prepares incorporation documents and email them to client for signing.


      1


      6


      Client signs the incorporation documents and return the duly signed documents to Kaizen.


      Clients Schedule


      7


      Kaizen files the incorporation documents with the Companies Registrar for registration. At the same time, Kaizen arranges payment of registration fee.


      1


      8


      The Companies Registry issues the Certificate of Incorporation and Business Registration Certificate (subject to CRs schedule)


      1


      9


      Kaizen now proceeds to place an order for manufacturing of company stamps and printing of Articles of Association (the whole set of documents together is known as company kit)


      2


      10


      Kaizen deliver the documents for bank account opening to the bank designated by client for preliminary review.


      1


      11


      Kaizen makes arrangement with the bank for client to come to Hong Kong meeting the bank officer.


      Clients Schedule


      12


      Bank process application, if approves, issues and send out account materials to client


      14-28


      Total: 14 days up



    6. Registration Documents Returned to Client after Registration

      (1)
      Original copy of Certificate of Incorporation;
      (2)
      Original copy of Business Registration Certificate;
      (3)
      5 printed copies of Articles of Association;
      (4)
      20 copies of share certificate;
      (5)
      One statutory book (members register, directors register and secretaries register);
      (6)
      Two company stamps;
      (7)
      A Significant Controllers Register;
      (8)
      A set of CPA certified corporate documents.

    7. Annual Maintenance

      After a company is officially registered in Hong Kong, it is required to comply with the maintenance requirements imposed by the Companies Ordinance and Inland Revenue Ordinance, such as holding annual general meeting, updating books of accounts, auditing of financial statements and filing of profits tax return and employers return and etc.

      For a more detailed description of the compliance requirements and the related costs, please refer to our article titled "Hong Kong Company Compliance and Maintenance Guideline Note" or please contact and consult our professional accountants.

    See also:
    Hong Kong Company - Articles of Association Samples
    Introduction to Seals and Chops of a Hong Kong Company
    Introduction on Taxation of Hong Kong Companies Operating Offshore
    Maintenance of Significant Controller Register of Hong Kong Companies


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