REDISCOVER HONG KONG 2024 Your Friendly Travel Adviser in HK
| Types of Companies | |||
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Private companies are restricted on the right of its members to transfer their shares; they have a 50-person limit on the number of members; and it has a prohibition on any invitation to the public to subscribe for any shares or debentures of the company | ||
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A public company does not have the restrictions for private companies (above). | ||
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A listed company is a company whose securities are traded on the Stock Exchange of Hong Kong and is a public company. | ||
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A limited company is one in which the liability of its members is limited. There are two types: companies limited by shares and companies limited by guarantee with share capital. | ||
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For an unlimited company, in the event of winding-up, members are personally liable for all debts and liabilities incurred by the company. | ||
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Overseas companies must be registered under the Companies Ordinance and are required to appoint an authorized representative. | ||
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| Registration Procedure | |||
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Review the Companies Registry to see whether the proposed name is the same as any other name which is registered. | ||
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Prepare the memorandum and articles of association and get them signed by the organizers. | ||
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A declaration of compliance must be made by a solicitor. | ||
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Submit memorandum and articles of association, declaration of compliance, and registration fee to the Companies Registry. | ||
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A certificate of incorporation will be issued to evidence the establishment of the company. | ||
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Every company incorporated in Hong Kong must be registered under the Business Registration Ordinance within 30 days of incorporation or the date of commencing business, whichever is the later. | ||
Tagged with: Setting up a business
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