There are several formalities for company formation Hong Kong you have to follow if you wish to establish an offshore business in Hong Kong through a private limited company and then operate such an offshore company here through a Private limited company. The Hong Kong company formation procedure is very lengthy and will demand a long time before it is completed successfully.
Before any transaction takes place for HK company formation, it is imperative to make sure that all the details are correct. If these details are not correct, then you will be in danger of the company being dissolved, and you will lose all your assets.
The primary purpose of having such a company is to be able to protect and secure your business assets. You do not have to worry much about your assets as there will be a trustee who is in charge of managing them. If you do not have enough money to hire the services of an accountant, then you can always employ the services of an accountant for an initial fee and get the fees reduced after the entire work is done.
When you are planning to do some business in Hong Kong for which you require some formalities for company formation in Hong Kong, many places offer such services. The best place to start with would be the office of the Secretary of State in your state capital. However, if this does not prove helpful for you, then you can look for a fair and experienced consultant in the business. It is advisable to choose a consultant who will be able to provide you with a checklist of the formalities which you have to follow to set up a private limited company in Hong Kong in the correct manner.
The procedures required for Hong Kong company formation are very extensive, and there is no way by which you can be able to complete the entire process without hiring the services of a professional. If you do not have the time to hire the services of a professional, then you can hire the services of a lawyer, and the whole process of Hong Kong company formation will be taken care of by them.
To set up a Private limited company in Hong Kong, you have to give the Secretary of State a copy of the document known as the statutory declaration. It is a legal document that spells out all the necessary information regarding your business. The statutory declaration is mandatory if you wish to establish a private limited company in Hong Kong. The legal secretary of state will check the statutory declaration to make sure that all the details in it are correct.
This person will then be responsible for the maintenance of the books and records relating to the company. You must ensure that these records are kept in order and maintained properly.
Some procedures have to be followed to set up a private limited company, and the legal secretary of the company is the person who has to submit all the necessary papers for the purpose. It would be best if you only used a professional to set up a private limited company in Hong Kong. It is because many lawyers have access to the correct forms, and they can help you out if you have any doubts.