Frequently asked questions (FAQ) about setting up a Hong Kong company:
1. What are the minimum requirements for establishing a Hong Kong limited company?
The minimum requirements are:
• a shareholder
• a director
• a company secretary
• Have a registered office address in Hong Kong
• Auditors and
• Business Registration Certificate
The company secretary, director and shareholder can be held by the same person, but the sole director of a private company cannot also be the company secretary.
There is no minimum requirement for share capital. However, for practical purposes, the share capital is usually not less than HK$1 or its equivalent in foreign currency. The capital registration tax for authorized share capital is 0.1% of the authorized share capital (the maximum tax cannot exceed HK$30,000)

2. Are any senior officers of a Hong Kong company required to reside in Hong Kong?
• The company secretary must be a Hong Kong resident or another limited company registered in Hong Kong
• The auditor must be a Hong Kong accounting firm
• Shareholders and directors may be individuals or corporate bodies of any nationality or place of residence. However, if the Hong Kong company is a member of a company group and one of the members of the company group is a listed company, the Hong Kong company cannot appoint body corporate directors.

3. Can the share capital of a Hong Kong company be denominated in foreign currency?
Yes. However, once a company is established, it is difficult to change the currency in which the share capital is denominated.

4. If I want to set up a company with a specific name, can I purchase a shell company and then change its name or am I required to set up a company with a specific name?
If you don't need a company immediately, either of the above methods will work. Most people will choose to form a company with a specific name. Company registration takes approximately 4 working days. If you change the name of an existing company, it will also take about 4 working days.

5. Do I need to open a bank account and appoint an auditor for my company before I start business?
No, but the company's auditor must be appointed within 18 months after the company is established (i.e. before the company holds its first annual general meeting), because the company must submit an audited report to shareholders at that annual general meeting. In addition, you must obtain various required licenses for your company before it can start business.

6. After establishing a company in Hong Kong, what requirements must the company continue to comply with? What will happen if it fails to meet these requirements?
Hong Kong companies must hold an annual general meeting every year, at which, among other matters, the company's audited accounts must be approved. Companies are required to submit annual returns to the Companies Registry every year. The company must report to the Companies Registry when it passes any special resolution (other than changing the company name), pledges certain information or changes in the information contained in documents submitted to the Companies Registry. Various changes that need to be reported to the company include:
• Change of share capital
• Change of directors and/or company secretary and/or their personal details
• Allot shares
• Change company name
• Change the company’s articles of association
• Change of registered office address of the company
If a company fails to comply with the above requirements, the company and each defaulting officer may be fined and/or imprisoned.
In order to avoid the above legal liabilities, our company recommends that a professional company secretarial company should be hired to serve as company secretary. Our company can provide company secretarial and registered office services, and the appointment fee is calculated on an annual basis.