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Startup How-Tos: Incorporation of Local Limited Company DIY
You would never miss to set up a “body” to house your innovative business ideas. The very first baby step to grow your business is definitely to incorporate a company. To start a business in Hong Kong, you may first consider your preferred scale, sector and ownership mode of business and choose a suitable form of business entity. There are many companies offering comprehensive company registration service. However, you can also save cost by filing the registration yourself. Start it up easily with a 1-2-3! 1 | Think Twice the Type and Name of Company The liability of every member of a company limited by shares differs from that of a company limited by guarantee. Company members should well understand their liability in a company and choose the type of company that suits them the best. Before choosing a company name, you should go through the Guideline on Registration of Company Names for Hong Kong Companies for the point to note and conduct a company name search through Cyber Search Centre service provided by the Companies Registry to avoid using a name used by another company, which may render your application being rejected. Another search in the Trademark Register maintained by the Intellectual Property Department should also be conducted to prevent infringement of intellectual property rights. 2 | Get Ready for Application After reaching a consensus, you should get ready the signed incorporation form, a copy of the company's articles of association and a Notice to Business Registration Office. Bring along the application fee (HK$1,720) and correct business registration fee and levy to the shroff on the 14th floor of the Queensway Government Offices for lodging the application. The Companies Registry also accepts application through their electronic filing service, the e-Registry. Founding members and directors should register as individual users to sign the e-incorporation form with their digital certificate or password and submit thereafter. 3 | Get the Certificate and Kick Off! You will receive a notification to download or collect the Certificate of Incorporation and Business Registration Certificate if your application is approved, meaning that you have already incorporated your new company. If you have filed electronic application, certificates in electronic form will normally be issued within 1 hour via email. For applicant who filed hard copy application, certificates in hard copy form will normally be issued within 4 working days and the presentor will be notified by fax or other means. If you wish to obtain more information about incorporation of local limited company, you may refer to the website of Companies Registry. Setting up a new company is just the beginning of building your business. To get away from any violation of laws, you are always reminded to spend time on studying the roles and duties of a member or a director of the company. You should also apply for licences relevant to your business operations. It is no bed of roses managing a company! “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.