Predicated on an agreement signed by China and the UK on 19 December 1984, this region became the Special Administrative Region (SAR) of China on 1 July 1997. In this agreement, this rich territory will love a high degree of autonomy in every matters except foreign and defense affairs for another 50 years form a company in Hong Kong. And under China's "one country, two systems" formula, the chinese government has promised that China's socialist economic system won't be imposed on Hong Kong. It also has got the advantaged location which is found in Eastern Asia, bordering the South China Sea and China, and convenient for trading.

The region is one of the world's most crucial and efficient financial centers. Takeing the benefit of no exchange control, sound legal system, efficient transportation and huge communication networks, the company in Hong Kong are attractive for traders around the world. This area is ranked the freest economy in the world. Since that time, how to register a business in Hong Kong?

By statute a Hong Kong company will need to have the next conditions to form. To start with, it needs to offer a new name of the corporation and have a look at if the name is available. Secondly, copies of ID cards or passports of shareholders are indispensable, and there must be at the least one adult shareholder. Thirdly, it's required for a business have the registered capital. If the fund has ended 10000 HK Dollars, there is statutory requirement that the government will levy 0.1% of stamp tax. Furthermore, the proportion of shares allocated must certanly be confirmed among directors and shareholders. Last however not least, the business ought to fill in common contact information, including directors' and shareholders.

Besides, nowadays, an increasing number of people elect to entrust some reliable agents to accomplish the business formation. And the process has essential steps below. First, both parties such as the corporation and the agent should sign for an electrical of attorney and an agreement. Second, the firm needs to prepay 50% of total charge to the agent. Then the agent will draw legal forms and information from Companies Registry and Inland Revenue Department, and constitute the articles of association of the company. Third, shareholders should autograph several legal documents and related information which need to be back again to the agent subsequently. Later the agent will submit the aforementioned documents to CR and Inland Revenue Department to register. When the business formation is completed, the business can pay the remainder to the agent.