Can H.K. Limited Company open several bank accounts in Hong Kong?
Yes. There are no restrictions on the number of bank accounts held by a H.K. Limited Company. Clients can open bank account according to their needs.
How long does it take a new bank acconut to be operational?
It depends on different bankers, it generally requires 15-20 working days.
Generally, you should prepare the following documents for opening a bank account:
1. Original and Certified True Copy of the Certificate of Incorporation；
2. Original and Certified True Copy of the Business Registration License；
3. A minute for opening bank account ；
4. Certified True Copy of Notification of Appointment of Director and Secretary ；
5. Memorandum and Articles of Association (M & A) ；
6. Identity card / passport of each director and shareholder ；
7. Supporting of residential address of each director and shareholder (such as bill of electricity or water which must show the name) .
* Since different bank has different requirements, please consult your banker for more details.
All directors and shareholders should go to the bank in person with the required documents.
B.V.I. Limited Company requires at least one shareholder and one director. A shareholder can also take up the post of Director at the same time
Generally, Authorized Share Capital of B.V.I Limited Company is US$ 50,000, if you would like to increase the amount, additional government fee is to be paid.
Clients can use any English names (and/or add Chinese name for identification purpose) but at the end of the company name, it must include “Corporate”, “Limited” or “Corporation”, or abbrevisions “Co.”, “Corp.”, “Inc.” or “Ltd“. If the words "Trust”, “Bank”, “Insurance”are to be included in the company name, it is to be approved in advance by the government.
The merits of B.V.I. Limited Company are outlined as follows:
1. the personal particulars of shareholders and directors will NOT be opened to general public;
2. no local tax demanded for carrying business operations outside B.V.I.;
3. no exchange control;
4. no requirement for reporting profits and financial situations to the B.V.I. Government;
5. no requirement for meeting of shareholders and board of directors annually;
6. No requirement for applying Business Registration License, Annual Return, Profits Tax Return and Statutory Audit if the company does not carry business in Hong Kong.
The required documents are outlined as follows:
1. photocopy of Certificate of Incorporation;
2. photocopy of Business Registration Certificate;
3. the latest Annual Return or D1, D3 and R1 or NC1 etc.;
4. the latest audited Financial Statements;
5. M & A .
It generally takes about 6 months.
Yes but it is subject to the following situations:
1. the liability is taken up by the parent company, related parties, director, shareholder or organizer;
2. the creditor is willing to give up the liability. For example, creditors are a group of parent company, related parties, organizer, director and shareholder that have made signatures on agreement to confirm the wavier.
According to Section 291AA of Companies Ordinances, a Hong Kong Limited Company could apply for deregistration only if the company:
1. never commence business since incorporation; or has ceased business over 3 months before the application; and
2. no outstanding liabilities, and
3. All Shareholders agreed to do so.
You can appoint our company as your company secretary, please contact us for more details.
1. If it is a person, he / she must be a Hong Kong resident and provide a valid Hong Kong address.
2. If it is a corporation, it must be a Hong Kong Limited Company.