Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
Setting up a new business in Shatin, Hong-Kong is governed by the Companies Ordinance (CO). This legal framework covers everything from company structure to corporate governance, directors' responsibilities, and shareholders' rights. Incorporating a company in Shatin requires a well-informed understanding of these ordinances and other related legislations, such as Inland Revenue Ordinance (IRO) and Business Registration Ordinance, which cover taxation and business licensing, respectively.
While some aspects of starting a business can be done independently, the legal complexities around company formation, legal compliance, contract drafting and approval, and understanding tax obligations often require a lawyer's expertise. Additionally, if your business involves any international operations or agreements, a legal advisor can assist in navigating the complexities of international law. Lastly, a lawyer will be able to provide counsel on trademarking, intellectual property rights, and ensuring your business is properly protected against potentially costly legal disputes.
The Companies Ordinance defines the company structures available for new businesses, the most common being a Private Company Limited by Shares. Taxes are governed by the Inland Revenue Ordinance; company income tax is set at 16.5% for profits earned in Hong Kong, with no capital gains tax or VAT. Business registration is covered by the Business Registration Ordinance, requiring all businesses to register with the Hong Kong Inland Revenue Department within a month of commencing operations. Non-compliance with these legal requirements can result in severe penalties and fines.
There is no minimum capital requirement to start a Private Company Limited by Shares in Shatin, Hong Kong.
Lawyers can assist in the registration of intellectual property rights, which provide legal protection for your unique business ideas and processes.
An application to incorporate a company and business registration can be completed in a single process, usually taking about an hour if done online and, once approved, the Certificate of Incorporation and Business Registration Certificate are issued the next day.
Employing staff in Hong Kong comes with legal obligations regarding employee benefits, mandatory provident fund contributions, minimum wage, and compliance with health and safety regulations.
You can check the Companies Registry's Cyber Search Centre or the Company Search Mobile Service to ascertain if your desired business name is already in use.
For additional information and support, you can consult materials provided by the Hong Kong Trade Development Council (HKTDC), the Hong Kong Inland Revenue Department, and the Companies Registry. These bodies offer substantial resources covering the practicalities of setting up and running a business in Hong Kong.
If you need legal assistance in forming a new business in Shatin, Hong Kong, start by conducting research, gaining an understanding of the legal landscape, and gathering as much information as possible. Next, compile a list of any questions or uncertainties you have about the process. Then, seek consultation from a legal professional who specializes in new business formation in Shatin, Hong Kong. They can provide advice tailored to your specific needs and ensure you meet all legal regulatory requirements.
