Answering questions about opening a company in Hong Kong

After many articles, there were numerous questions from readers interested in establishing a company in Hong Kong. Mr. Vu Dai Duong, Vice director of One IBC will answer the most common questions below.

Q: Currently I am planning to extend to the Hong Kong market. I want to ask about the minimum requirements for opening a company in Hong Kong. My field is IT. (Nguyen Hong Phuc - Ho Chi Minh city)

To open a company in Hong Kong, you basically need at least:

• One director (individual)
• One shareholder (individual or organization)
• One secretarial company
• One registered office address in Hong Kong

(Director and shareholder can be the same person)

Additionally, there are some legal procedures. Our specialists at One IBC will support the customers with these in order for their companies to be able to start operating within just 24 hours as the “Hong Kong - Advantages for Vietnamese investors” has stated.

Hong Kong has always been the destination for Vietnamese investors

Q: What is the benefit of opening a company in Hong Kong? (Tran Anh Hung - Quang Ninh province)

As the article “One IBC: Hong Kong company registration: Doorway for Vietnamese commerce” has discussed, opening a company in Hong Kong will bring about benefits from the top financial economy, developed infrastructure and the most efficient legal system supporting businesses. The government always encourages foreigners to come, invest and open a company in Hong Kong.

Hong Kong has also signed many international agreements, benefiting any plan to extend to other markets of Vietnamese business. Companies will be able to enjoy free trade with many other countries in the world.

Q: Do I need an office and local employees to be able to open a company in Hong Kong? As a Vietnamese can I register my name in the article of incorporation? (Luong Uy Vu - Ho Chi Minh city)

Per the law, the secretary has to be a Hong Kong citizen, or is authorized to a secretarial service company located in this area. To save time and cut costs, businesses can consult One IBC services of company incorporation for many options.

One thing to note, the Director of a private company has to be a Hong Kong citizen. For other types of business, directors and shareholders can be individual or organization for Viet Nam.

Also, the company’s address has to be registered in Hong Kong. If you have any problem, One IBC’s serviced office will help you easily get an address and save money in one of the most expensive real estate markets in the world.

Q: After opening a company in Hong Kong, will I get a visa or work permit? If I want to hire Vietnamese, do they also get a visa or work permit? (Nguyen Hai Yen - Thai Nguyen province)

When incorporating for a Hong Kong company, the government will not grant any visa or work permit to Vietnamese owner. However, with One IBC’s service, you do not have to be in Hong Kong. All procedures can be done online from Viet Nam.

If you want to hire Vietnamese, after incorporation, the company has to apply for a visa or work permit for its employees. There are two categories for visa for Vietnamese:

• Vietnamese who has graduated a full time program accepted in Hong Kong
• Vietnamese who has graduated in a foreign country and has special skill, knowledge or experience that Hong Kong needs

Open a company in Hong Kong with One IBC

Q: If I am doing business in Hong Kong, can I open an account in a local bank? Is that a Hong Kong dollar account? (Le Minh Hoang - Gia Lai province)

After opening a company in Hong Kong, you can apply for a local bank account. This account is very convenient for business because Hong Kong’s finance is very reputable and developed. You can use One IBC Hong Kong bank account opening service to save time and money as well as get in touch with our top of the world’s banking partners. These bank accounts are multi currencies, very convenient for international business.