Company limited by shares or guarantee
The most commonly used form for doing business is a “Company”. There are private and public companies which are usually limited by shares, meaning that liabilities of the shareholders are limited to unpaid amount on their shares. There may also be limited by guarantee, where members’ liabilities are limited by the company’s articles of association to the amount that the members undertake to contribute to the assets of the company in the event of its being wound up.
It takes same day to incorporate a Hong Kong company. Before submission of incorporation application, the proposed corporate name must be checked with the Companies Registry. The proposed company must contain at least one founder and one individual director without nationality and resident requirements (two individual directors for company limited by guarantee) and one company secretary who ordinarily resides in Hong Kong or a body corporate having its registered office or place of business in Hong Kong.
Prior to the commencement of business, the company must register with the Business Registration Office and pay the Business Registration fee.
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