How to Set Up a Limited Company and a Business Bank Account in Hong Kong

Limited Company Set Up Process –  Step 4：Obtain Certificates and Done! 

The Certificate of Incorporation and the Business Registration Certificate can be issued to applicants of electronic applications within 1 hour¹ at the earliest, and the printed certificates can generally be issued within 4 working days¹. After successfully obtaining these documents, the company owner can apply for other needed licenses or permits, such as a Temporary Food Factory Licence from the Food and Environmental Hygiene Department or a trademark from the Trademark Registry⁷, managed by the Intellectual Property Department. To find out more about the licensing requirements of various industries, please visit the Business Licensing Information Service Website (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.success.tid.gov.hk/tid/eng/blics/index.jsp) of the Trade and Industry Department’s Support and Consultation Centre for SMEs. 

Conditions and Fees for Setting Up a Limited Company

When setting up a limited company in Hong Kong, you should consider whether you can meet the relevant requirements and conditions, and fulfil your obligations simultaneously. These obligations include the timely disclosure and reporting of specified information about the company, its officers, and shareholders, etc. and any changes in such information to the Registrar of Companies⁸. Besides, the registered office must be situated in Hong Kong⁹.
 
The fees to set up a limited company by shares mainly consist of two parts. The first component is an application fee, payable to the Companies Registry. For electronic applications, the fee is HK$1,545¹⁰ or HK$1,720¹⁰ for applications by post. If the application is rejected, a refund of HK$1,280¹⁰ for applications delivered in electronic forms or HK$1,425¹⁰ for applications delivered in hard copy forms can be applied for, respectively. The second component is the business registration fee and levy paid to the Inland Revenue Department, which amounts to a total of HK$2,150¹⁰ for a one-year certificate and a total of HK$5,650¹⁰ for a three-year certificate. Click here (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/services/fees.htm) for more details of the fees for major services of the Companies Registry. 

How To Apply For a Business Bank Account for a Limited Company?

The next step after successfully obtaining the Certificate of Incorporation and the Business Registration Certificate is to open a bank account for your limited company for managing accounts, auditing, processing transactions, filing tax returns on time and for account reviewing purposes, etc. The company’s shareholder(s) can fill in the application form to open a bank account online and submit the required documents. Click here now to open business bank account online with DBS. 

Limited Time Offer for SME Limited Company Bank Account 

Hong Kong incorporated companies can open a Business bank account online with DBS, recognised as 'Hong Kong’s Best Bank'¹¹ and 'World’s Best SME Bank'¹¹ in as fast as 2 working days¹². Click here to learn more about the DBS SME Online Account Opening for Business - Welcome offers¹³. 

Article published on 19 July, 2023

¹Source: Companies Registry - How to register a new company? (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/services/register-company.htm)
²Source: Companies Registry - How to change a company’s name? (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/services/change-company-name.htm) & “Guideline on Registration of Company Names for Hong Kong Companies” (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/companies_ordinance/docs/Guide_RegCompName-e.pdf)
³Source: Companies Registry - FAQ #12 (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/faq/local-company/company-name.htm)
⁴Source: Companies Registry - How to register a new company? (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/services/register-company.htm)
⁵Source: Companies Registry - New Inspection Regime - External Circulars (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/legislation/nir/external-circular.htm) & Companies Registry External Circular No. 6 / 2022 (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/publications/docs/ec6-2022-e.pdf)
⁶Source: Companies Registry at Queensway Government Offices (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/about/contact/office-addresses-service-hours.htm)
⁷Source: Business Licence Information Service (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.success.tid.gov.hk/tid/eng/blics/index.jsp)
⁸Source: Companies Registry - Compliance - Your Obligations (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/compliance/obligations.htm)
⁹Source: Companies Registry FAQ - Local Limited Companies - Incorporation #9 (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/faq/local-company/incorporation.htm)
¹⁰Source: Companies Registry, Major Fees under the Companies Ordinance (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.cr.gov.hk/en/services/fees.htm)
¹¹DBS has won the following awards in 2022: “Best Bank in Hong Kong” and “World’s Best SME Bank” at Euromoney’s Awards for Excellence 2022, “ “Hong Kong’s Best International Bank” at Asia Money’s Best Bank Awards 2022 (Hong Kong), “Best International Bank (Hong Kong)” at FinanceAsia’s 2022 Country Awards, and “Bank of the Year” at Bloomberg Businessweek’s Financial Institution Awards 2022.
¹²Subject to eligibility and conditions.
¹³The offer is subject to terms and conditions. 

^{^}Terms and conditions apply.
^***Subject to eligibility and conditions.