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Company Act in Hong Kong

Updated on Thursday 19th May 2016

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Hong Kong Company Law

 
The Companies Ordinance is the reference legislation for any company in Hong Kong. It stipulates important matters about company law and regulation in Hong Kong, the manner in which companies can be established and contains details about corporate personality, corporate governance and other issues like liability, financing and administration.
 
If you want to open a company in Hong Kong you should know that a new Companies Ordinance has been enforced starting with March 2014 and it brings new, progressive changes to company related matters.
 

Companies in Hong Kong

 
According to the law, there are five types of companies that can be formed in Hong Kong:
  • - sole proprietorship;
  • - private limited liability company;
  • - public limited company;
  • - company limited by guarantees;
  • - general partnership;
  • - limited partnership.
Additionally, foreign companies can open branches and subsidiaries in Hong Kong
 
The Companies Ordinance contains information about the Registrar of Companies and the Companies Register, company formation and other related matters and also about re-registration, the share capital for each type of company and transactions related to the share capital.
 
The appointment, removal and resignation of Directors in Hong Kong is regulated by law and companies also need to observe accounting and audit requirements. Our company formation agents in Hong Kong can detail the general requirements for company incorporation
 

Changes in Hong Kong’s companies’ law

 
The Companies Ordinance Chapter 622 of the Laws of Hong Kong brings certain progressive changes, aimed at improving the business climate in Hong Kong and creating new opportunities for foreign investments. Some of the provisions included in the new ordinance make it easier for smaller companies to do business in Hong Kong.
 
One important change is the elimination of the nominal value of shares. The sum will be merged with the total share capital of the company. Mandatory for any company incorporated in Hong Kong, the Articles of Association will now contain the Memorandum of Association, a previously independent document containing the duties of the company. 
 
Our company formation representatives in Hong Kong can give you additional details about the taxation for companies. You can contact us for any questions and to set up an appointment. 
 
 

Comments

  • Andy 2017-02-16

    Nice article, very useful!

  • Addison N 2017-02-17

    Useful information. Keep up the good work!

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