Business Registration Hong Kong Sole Proprietor
As the name suggests the business is owned and operated by a sole person and since the business is not a separate legal entity the owner and the business are considered one. For Hong Kong residents- Copy of Hong Kong identity card.
Simplicity is the main advantage of sole proprietorship.
Business registration hong kong sole proprietor. For local companies or registered non-Hong Kong companies registered under of the Companies Ordinance please refer to One-stop Company and Business Registration. The sole proprietorship in Hong Kong is a basic business entity type. The business registration number original and new business name business address and the date of change should be clearly stated.
In order to incorporate sole proprietorship in Hong Kong you need to register with the Inland Revenue Departments Business Registration Office. Required documents for sole proprietorship registration in Hong Kong. The sole proprietor or the partners are personal responsible to the debts and liabilities incurred by the company The ownerthe partners and the business are considered one entity.
Characteristics of Sole Proprietorship Firm of single owner. To truly understand the reason we needed to understand the meaning of being as a Sole Proprietor as well as the official way to register as one of it in Hong Kong. Sole Proprietorship is business firm consists of single individual owner.
Sole Proprietorships sole traders Sole proprietorship is the simplest form of business and the easiest to set up. The only way to expand the firm is by hiring employees to work for the firm. It is regulated by the Business Registration Ordinance.
Sole proprietorship or partnership businesses must make their applications within one month of business commencement. Registration of Sole Proprietorship Business in Hong Kong When you engage Kaizen to register your sole proprietorship business please follow the procedures described below. Every person carrying on a business shall make such an application within 1 month of the commencement of such business.
An individual who conducts business in Hong Kong as a sole proprietor must register with the Business Registration Office of the Inland Revenue Department within one. In the sole proprietorships both the company and the owner are considered as the one unity. Meanwhile the payment of HK3950 for a certificate has a validity period of 3 years.
The Business Registration Ordinance requires every person who carry on a business in Hong Kong whether it is a sole proprietor a partnership a Hong Kong limited company or a non-HK company having business in Hong Kong to apply for business registration BR within 1 month from the date of commencement of the business. There are two types of unincorporated business entities. Therefore the owner is.
Alternatively you may furnish the details on the form IRC 3110A. Identification documents Required from ALL Authorised Signatories ALL Beneficial OwnersSole Proprietor and two Key Controllers 1. Sole proprietorship and partnership.
Simple to set up all the investor needs to do is to apply for a business license from the Business Registration Office. Business registration applies to every business in Hong Kong. Learn more about the application procedures for new business registration as well as renewal and cancellation.
The owner of Sole Proprietorship and all partner of Partnership have to provide the copy of each owners Hong Kong identity card for registration. Registering your sole proprietorship in Hong Kong must be completed within a month from the date your business commences. Once you have been issued with your Business Registration Certificate your profits tax file number will be the same number that is printed on your certificate.
If the applicants are non-Hong Kong resident the copy of his passport or identity card issued by the relevant government authority is needed. Business Registration Ordinance Cap. Generally the Hong Kong business registration fee costs HK250 for a certificate with a validity period of 1-year.
You place an order with Kaizen for the registration of sole proprietorship with payment of fees. Operated by a single owner this entity is connected fully with its sole investor. Sole proprietorship is considered the easiest and simplest form of business.
This is a sample of what the Business Registration Certificate looks like in Hong Kong. Valid Business Registration Certificate 2. For Foreign investors- Copy of passport and latest.
IRD will not accept any applications for registration of businesses which have never existed or have yet to commence operation. Government Issued Identification Document. Approval of the companys name.
Businesses other than corporation eg. Image from Inland Revenue Department Hong Kong. Company Registration Documents 1.
Business owners usually needed the following documents in order to register a sole proprietorship business in Hong Kong. A duly signed and finished incorporation structure. The business cessation causes upon the owners death.
310 provides that any person carrying on sole proprietorship or partnership business shall apply for business registration within one month of the commencement of such business. No restriction on owners national and. Business Registration Form obtainable at Inland Revenue Department - Form 1a B.
It is easy to register with the Business Registration Office. Document Checklist for Business Account Opening -Companies Established Incorporated in Hong Kong -Sole Proprietorship 獨資公司 Documents to be provided by the Client Remarks 1 Copy of individuals identity documents Certified true by suitable certifier For Sole Proprietor All for Authorised Representatives. More information on all other types of Hong Kong Company Registration Services.
