Business Abroad

Hong Kong business innovation in pandemic

The Hong Kong authorities have once again proved their loyal policy towards businessmen from other countries. They quickly reacted to the situation and proved that they are able to introduce new solutions to a non-standard type in limited conditions.

First of all, they reviewed the issue of opening a bank account. If before the coronavirus it could not be opened without visiting Hong Kong, now a simplified procedure for opening it has been introduced. It will be open, but you will still need to be present in-person to access it. Therefore, for those businessmen who have accounts in other banks in the world, it is better to use them. In addition, the following decisions have been made to support the business:

  • Simplified credit conditions

  • Reduced interest rates

  • Extended loan repayment terms

  • Payment can be deferred if it is not possible to pay it within the specified period

  • It is possible to change the loan payment date

For this purpose, the government has allocated 40 billion us dollars, which will reduce the tax burden and lending to companies operating in Hong Kong. The main factor that attracts businessmen from different countries to open a company in Hong Kong is well known. This is sparing taxation. In this case, you can open almost a company that can be:

  • Investment

  • Production

  • Internet Commerce

  • Processing

Some activities will require a special license. Our company will help you create a company that works in any field of activity, including licensing, as well as opening an account, both in Hong Kong and in other jurisdictions.

Documentation for remote opening of a company and bank account

To open a company and bank account remotely, you must first determine the company that will deal with these issues. You must have an impeccable reputation. You can judge this by reading the customer reviews that customers leave on the sites. This service is provided not only by Hong Kong companies but also by companies located in other countries. Registering a company and opening an account in Hong Kong requires competent legal support. Only in this case can a positive solution be guaranteed.

Before submitting documents for registration, it is advisable to determine the type of company. This can be a guarantee company or a limited liability company. It is desirable to come up with a name for it. In Hong Kong, it will be tested for uniqueness. It is also necessary to determine the following factors:

  • Number of shareholders

  • The amount of fixed capital

  • Type of shares

  • Appointment of the Director and Secretary

  • The place where financial documents are stored

You will need to pay an annual fee. It is paid when the company is registered. In the future, it will be taken into account when extending the company’s working period and will be included in the cost of the extension.

Therefore, it is important to work closely with the company that will carry out the registration. It will provide online assistance at all stages. This will protect the company’s rights in the event of force majeure and bring it to the required level. We need to forward the following list of documents:

  • A completed application form for company registration in Chinese or English (we send a sample)

  • Copy of the passport of the authorized person, certified by a notary

  • Current residential address

  • Origin of the source of income

A number of other documents may also be required. It all depends on the company’s profile and how it works. In addition, you should know that the Secretary must have the status of a resident of Hong Kong. You can work with any messengers, which contributes to operational work. Access to our company’s data center is securely protected and absolutely secure. In Hong Kong, privacy laws protect businesses.

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