FAQs OF FORMATION OF HONG KONG COMPANY
| Q: | Can Limited Company act as shareholder or director of another limited company? |
|---|---|
| A: | Yes, but 2014 New Companies Ordinance requires that every private company must have at least one director who is a natural person. |
| Q: | When can I get the certificate of incorporation and business registration certificate for my company after the application? |
| A: | Normally, for paper submission, the Certificate of Incorporation and Business Registration Certificate of a company limited by shares will be issued on the 4th working days. |
| Q: | Is there any requirement on the minimum amount of paid up capital upon application for incorporation or commencement of business? |
A: |
There is no requirement on the minimum amount of a company’s paid-up capital under the Companies Ordinance. |
| Q: | Is there any requirement on other amount of nominal share capital and the number of founder members of a local company limited by shares? |
| A: | The Companies Ordinance has not prescribed any requirement for a minimum amount of nominal share capital. A local company limited by shares shall be formed by at least one founder member taking at least one share of the company. |
| Q: | May a non-Hong Kong resident be appointed as a director and secretary of a local limited company? |
| A: | A non-Hong Kong resident can be appointed as a director of a local limited company. The secretary, if an individual, should ordinarily reside in Hong Kong. For corporate secretary, its registered office or place of business should be in Hong Kong. |
| Q: | Can a sole director of the company act as the secretary too? |
| A: | No. The Companies Ordinance expressly prohibits the sole director from acting as the company secretary. Besides, the Companies Ordinance stipulates that a private company cannot appoint a corporate secretary if the sole director of the corporate secretary is also the sole director of the company. |
| Q: | Could non-Hong Kong residents in corporate a limited company in Hong Kong? |
A: |
Yes. Non-Hong Kong residents could incorporate a limited company in Hong Kong. |
| Q: | Can the registration office of a local limited company be situated outside Hong Kong? |
A: |
No. The registered office must be situated in Hong Kong. |
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