What is Branch Office in Hong Kong? Most foreign corporations that want to get into the Hong Kong marketplace must conduct their company registration in Hong Kong. There are mainly three popular choices for foreign businesses to have their local business presence, such as Branch Office, Representative Office, or Subsidiary Company. These choices help foreign corporations get established in unfamiliar territory without much trouble. However, when it comes to company registration in Hong Kong, some things must be considered. Below are some benefits of company registration in Hong Kong for foreign corporations:
Easy to do Business – The main advantage of getting your foreign company registration in Hong Kong is that it is relatively easy to do. You can start your company with just one business day, and you can also complete the same within a short period. It is because all you need to do is contact the registration office either by telephone or by e-mail. Once the application is received, you can sit back and wait for the Hong Kong branch office to consider your application.
No compliance requirements – All the international central banks have direct access to the banking regulations in Hong Kong, and in most instances, they have compliance requirements. However, this is not the case with the branch offices. Besides, foreign companies must not submit any information on their company formation in Hong Kong to the relevant authority. It makes the whole process completely easy for foreign companies.
No difficulty incorporates appointments – If you are a company that wishes to establish a branch office in Hong Kong, then the entire registration procedure is relatively easy. All you need to do is provide the registration fee and get yourself a registration certificate. Once you have done that, you need not waste any time getting an appointment with the representative office. The company representative office helps foreign companies, assist them with every detail, explain the rules and regulations, and facilitate the registration process.
A complete business presence – There is no requirement of conducting an interview or formal communication with any of the representatives. You need to provide the company’s details, and you can get yourself an appointment. The entire process is straightforward, and you will experience no difficulty getting your business presence in Hong Kong and have an easy time doing your business. Moreover, your company will be able to benefit from various incentives offered by the local authorities. Thus, your business will get a boost from the rebates, tax exemptions, free shares, etc.
Legitimate registration – When you register your company in Hong Kong, the law is required to appoint a local registration office and write all your vehicles. All vehicle owners must carry proof of registration. However, you need not go through the hassle of procuring those crucial documents unless you want to. Companies need not get an appointment from the parent company’s local branch office if they are registered with an authentic registration firm. The company representatives who come to your place to sign-up your name and number are your parent company representatives and do not require any documents.
Registration of both the names – One of the law’s most essential requirements is that both the words must be mentioned in the document. The business name must be mentioned in the form, and the office address must be mentioned in the state. If either one of the characters is missing, it will be considered illegal. Thus, it is necessary to ensure that the company name is mentioned in the document and the office address.
Authorized agent – Companies must appoint an authorized representative to conduct the business, and he is the person who will be carrying out the business. You must have a copy of the authorization given by the authorized agent. The agent can be a foreign company that has its office in Hong Kong, or it can also be a local company that has its office in Hong Kong, and it must have the consent of the authorized representative. The firms can appoint two types of agents. The foreign companies may appoint direct agents to conduct business in Hong Kong. The local companies may appoint an agent who will act as the representative of their firm in Hong Kong, and he can only carry out the business in that office.