Business

Cross Road Decision: Set Up New Company In Hong Kong For New Business Venture

You may have worked for many years at some Hong Kong employers, and have gathered more than plenty experience in your industry or field of work. You are now at the cross road to decide whether you should start your own business in HK. This is a good sign. When you go through the list of new business ideas you may have seen:

l  Freelancer on website development, logo design, copywriting, etc.

l  Virtual assistant, regardless of location.

l  Social media accounts management for some new startup companies outside of Hong Kong.

l  Product reseller or dropshipper through an ecommerce website or the Etsy site.

Nothing seems to have interested you for setting up your new Hong Kong Company.

But at the end according to your own vision, you have always seen people in your industry who have encountered a similar problem multiple times a month. You want to solve this problem, and that is why you are setting up your business to develop a product (or a solution) to the very issue.

Registering your new company

When completing the Hong Kong company formation, you must:

l  Figure out between your co-founder and you (the founder) who owns how much percent of the newly setup HK company.

l  Come up with a company name. Check the name’s availability with Hong Kong’s Companies Registry. When the name is available, submit the name as your company name with the company incorporation application and all the required documents.

l  Register a domain name preferably also is the same as your company name.

l  Provide a local Hong Kong office address. When initially you don’t have an address, it is not a big problem. You can use a business service to provide you with a local address.

l  Provide a person as a company secretary. If you can’t do that, use a business service who can provide a secretary (as a person or as an entity). Note that the secretary must have a locally based Hong Kong address.

l  Submit the names of the directors and shareholders, and their proof of addresses.

Hiring staffs for your new company

The next component is to hire the right employees to take on the key projects of your Hong Kong startup. Follow the steps.

l  Do not hire casually. Hire deliberately.

l  Hire people for their potential that can go a long way for your company in the future.

l  Look for people who would fit well with the company culture in your plan.

l  Hire people for their good attitude. Train them for the required skills.

l  Look for attributes that are already in people which you cannot simply train.

Leave a Reply