I found a simple explanation of what it takes to set up a company in Hong Kong on the new website of my accountant in Hong Kong (whom I strongly recommend).
I am reproducing that content below.
The first step in setting up a business in Hong Kong
A person of any nationality, of the age of 18 or above, can set up a business in Hong Kong.
The first step in setting up a business in Hong Kong entails the choosing and the registration of the suitable form of business structure, which can be a limited company, a proprietorship or a partnership. In addition, a corporation registered outside of Hong Kong may conduct business in Hong Kong by setting up a branch in accordance with the relevant regulations.
Establishing a limited company in Hong Kong
A limited company has to be registered in accordance with the Companies Ordinance and Business Registration Ordinance.
The followings are information required for the setting up of a private limited company in Hong Kong:
1. Name of the Company (in either English or Chinese or in both) to be incorporated, which must NOT be the same with an existing company incorporated in Hong Kong.
2. Structure of Share capital
Number of shares and nominal amount of each share to be registered (in general 10,000 shares of HK$1 each are registered); and allocation of shares among shareholder(s)
3. Name,Identification numbers, Address/Registered office of the followings are required:
a. 1 or more shareholders
b. 1 or more directors
c. 1 or more company secretaries
4. The intended Registered address in Hong Kong of the company to be incorporated.
5. The intended main business activity.
A shareholder or a director can either be a natural person over 18 years of age and of any nationality or an incorporated body.
A company secretary must be a Hong Kong resident over 18 years old or a body corporate having its registered office or place of business in Hong Kong.
A shareholder can serve as a director.
A shareholder or director can serve as the company secretary. However, in case the company has only one director, the sole director cannot serve as the company secretary.
Current tax rates
|Proprietorships and Partnerships||15%||15%|
|40,000 or below||2%||2%|
|40,001 – 80,000||7%||7%|
|80,001 – 120,000||12%||12%|
If you are considering setting up a company in HK and you have questions, don’t hesitate to contact them.
UPDATE: my friend Michael Michelini published an in-depth guide on this topic.