Business registration is a process of registering as a business that carries on business operations in Hong Kong or any other overseas or  local jurisdiction. There are several legal steps and requirements to getting a business registration certificate and being officially incorporated in Hong Kong.

 Business Registration Legal Requirements

In accordance with the Hong Kong Companies Ordinance, each Hong Kong Limited should have at least:

Shareholders

• At least one shareholder with a designated share allotment of at least one share.

Directors

• At least one director, who must be an individual.

Company Secretary

• A company secretary, who must be a Hong Kong incorporated company or an individual who is a Hong Kong resident.

Age and Residency

• Shareholders and directors must be of legal age and can be of any nationality. They do not need to be Hong Kong residents. They must provide a passport or ID card and a recent address proof

Corporate Director

• A service provider like Triple Eight, within the HKWJ Group, can offer the service of a corporate director if required.

 Business Incorporation Procedures

To incorporate a Hong Kong Limited Company, follow these steps:

1. Company Name and Form Submission
   • Choose a desired company name and complete the incorporation form NNC1.
   • Submit the form to the Companies Registry. It typically takes 4 working days to receive the Certification of Incorporation and the Business Registration Certificate.
2. Company Chops and Documents
   • Order company chops, seal (if required), a set of Articles of Association, and one booklet of Shares Certificates. This usually takes 1-2 working days.
3. Internal Resolutions
   • Prepare internal resolutions in accordance with the Hong Kong Companies Ordinance.
   • The entire incorporation process takes around 7-10 working days.

Business Bank Account Opening

After incorporating your Hong Kong company, you can open a business bank account. The required documents include:

• Business Plan / Information of Products / Company Operation
• Audited Report / Financial Statement of the Previous Financial Year (if any)
• Invoices / Receipts / Contracts / Agreements / Bill of Lading (upcoming)
• Company Group Chart
• Due Diligence information on Shareholder(s), Director(s), and any other Account Signatory (initial scan copies of their passport and address proof)
• Original minutes of meetings approving the opening of the bank account, appointment of director(s), business registration certificate, certificate of incorporation, and a copy of the articles of association.

HKWJ Tax Law can also assist you in setting up a business in Mainland China. This process has quite different steps as it is a different jurisdiction within the People’s Republic of China.

Business Registration Fee & Levy

When incorporating a Hong Kong company or registering a branch, one should take note of the so-called ‘BR Fee’ upon a business registration in Hong Kong. The BR Fee is a fee payable to the Inland Revenue Department of Hong Kong and either relates to a governmental fee for registering a business or a branch in Hong Kong.

As of April 1, 2025, the Hong Kong Inland Revenue Department has set the following fees:

• One-year Business Registration Certificate: HK$2,200
• Three-year Business Registration Certificate: HK$5,720
• One-year Branch Registration Certificate: HK$80
• Three-year Branch Registration Certificate: HK$208

Annual Return Fee

In addition, the fee for filing Annual Returns on time with the Hong Kong Company Registry is HK$105.

Business Registration FAQs

1. Can a Hong Kong Limited Company be incorporated if shareholders or directors cannot be present in Hong Kong?

Yes, as long as all completed due diligence documentation and payment are received upfront. Two options are available:

• Incorporate the company first under the service provider’s name and subsequently transfer the directorship and shareholding rights.
• Appoint the director(s) and shareholder(s) directly by sending the documentation by courier for signing and returning.

2. Can a company be incorporated quickly if shareholders or directors have limited time in Hong Kong?

Yes, by incorporating the company first under the service provider’s name, all relevant resolutions can be prepared, and directorship or shares can be transferred on the day the client is in Hong Kong.

However, booking an appointment for opening a business account may not be possible due to banks’ due diligence processes.

3. Is it necessary for both the director and shareholder to be present during the business account opening?

It depends on the bank. Some banks only require the director, who is the signatory to the banking documents, to be present. Account signatories must be present at all times.

4. How much does it cost to register a business in Hong Kong?

The cost varies depending on the business structure and services used.

For a Hong Kong Limited Company, the government Business Registration (BR) fee is HK$2,200 for a one−year certificate $or\; HK\$$5,720 for a three-year certificate (as of April 1, 2025).

Additional costs may include the incorporation fee$(e.g.,foracompany\; secretary\; oragent$) and optional items like company chops or seals.

There is no minimum share capital requirement, which keeps initial costs low.

5. Can foreigners start a business in Hong Kong?

Yes, foreigners can start a business in Hong Kong without any restrictions on nationality or residency. Shareholders and directors can be from anywhere in the world, as long as they are of legal age and provide valid identification (e.g., passport) and address proof.

However, the company must appoint a local company secretary (a Hong Kong resident or incorporated entity) to comply with the Companies Ordinance.

6. What is the difference between Business Registration Number (BRN) and Company Registration Number (CRN) in Hong Kong?

The Business Registration Number (BRN) is an 8-digit number issued by the Inland Revenue Department (IRD) upon business registration, required for all businesses operating in Hong Kong (including sole proprietorships, partnerships, and companies). It is used for tax and regulatory purposes.

The Company Registration Number (CRN) is a unique 7- or 8-digit number issued by the Companies Registry specifically to incorporated companies (e.g., limited companies) upon incorporation.

In essence, all companies have both a CRN (for company-specific matters) and a BRN (for business operations), but non-company businesses only have a BRN.

7. What is the minimum capital for a company in Hong Kong?

There is no statutory minimum share capital requirement for a Hong Kong Limited Company under the Companies Ordinance.

However, the company must issue at least one share to at least one shareholder upon incorporation. The nominal value of shares can be as low as HK$0.01, making it flexible and cost−effective to start.

$Many\; companiesincorporatewith\; astandardissuedcapitalofHK\$$10,000 (e.g. 10,000 shares at HK$1 each), but this is not mandatory.

8. How many directors does a Hong Kong company need?

A Hong Kong Limited Company must have at least one director, who must be a natural person (individual) of at least 18 years old.

There is no upper limit on the number of directors, and they can be of any nationality or residency. Directors are responsible for the company’s management and compliance with the Companies Ordinance.

Note: The information provided is up-to-date as of the time of writing. For the most current information, please contact us at [email protected]