Businesses expanding internationally to other markets often would not miss the China market. Setting up your business in Hong Kong before expanding to mainland China lets you first hand access to the HK marketplace. In fact Hong Kong has been for more than the past 20 years one of the most stable, robust and free economy among the world.
With the one-stop solutions provided by Prism Consultancy, the entire process of Hong Kong company registration can become easier than ever.
- A HK company is compulsory to have a secretary and a registered office address.
- The services include company secretarial service, bank account opening, accounting, auditing, tax filing, and payroll services.
- Services such as virtual office service, serviced office rental, and more are included.
- When the owner holds a foreign passport and does not have a HK identity document, he/she must apply for work visa – The investment visa application service can be provided on demand.
- It is possible to recruit non HK based staffs and relocate them to your new HK office workspaces. Simply use the employment visa service. The prerequisite to this is that the applicant must have a job offer already.
The above one-stop services will greatly reduce the amount of time you spend on tedious and complicated paperwork and documents.
Some entrepreneurs would have initially started with the sole proprietorship option, but will soon be informed to move away and switch to incorporate with a limited company. Needless to say, there are advantages to incorporate in Hong Kong with a limited company. The first and one of the most important reasons is to have own personal assets protected. The limited company can own property, operate a business, incur liabilities, and sue or be sued, and is responsible for its own debts, as it is as a completely separated legal entity by laws.
This means creditors of your company can seek payment only from the assets that legally belong to your company, but will not claim from the personal assets of yours, shareholders, or directors. This puts the entrepreneur in great control and advantage. With this protection, the business owner can conduct business without risking his/her homes, cars, savings, or other personal property.
Imagine as a new startup or an entrepreneur, you would have to deal with one or two completely new markets i.e. Hong Kong and China. Now when you have taken to route with a sole proprietorship or partnership, you and your business partners would be facing unlimited liability not only from your personal assets but also assets of your business. This makes things very complicated to deal with in unfamiliar markets.