What paper work is required to incorporate
If you incorporate through
auditors.net,
all you need to do is complete our online order form.
We will prepare and file all the statutory documents as required by the Companies Ordinance.
Just fill out the order form and we do the rest.
Do I need a lawyer to incorporate
No, a lawyer is not a legal requirement to incorporate.
You can prepare and file the required statutory documents for incorporation yourself;
however, you need to be thoroughly versed in the Companies Ordinance.
You can use our service to incorporate. However, if you are unsure if incorporation will benefit your business,
consult your lawyer or accountant.
What should I name my corporation Choose the name of your corporation carefully.
It is very important that you portray the image you want for your new corporation.
Legally, the name you select must not be identical to or deceptively similar to any existing corporation.
Additionally, the name you choose must show your business is incorporated, ie ended with Limited.
How many directors and shareholders do Ineed to form a corporation
You need at least one director and one shareholder in compliance with the Companies Ordinance.
Moreover, you need a company secretary who must be a Hong Kong resident.
What is a Corporation and its organizational structure
A corporation is a legal entity that exists separately from its owners.
The organizational structure of a corporation relies on two basic groups: shareholders and directors
A corporation is owned by shareholders; however, they do not directly manage the corporation.
Instead, they influence corporate decisions through indirect methods such as electing and removing directors,
approving or disapproving amendments to the articles of incorporation and voting on major corporate issues.
The board of directors are responsible for managing the affairs of the corporation. Usually,
directors make only the major business decisions and supervise and appoint the officers who make the day-to-day business decisions
of the corporation.
What are the advantages of incorporation
A primary advantage of incorporation is the limited liability the corporate entity affords its shareholders.
Typically, shareholders are not liable for the debts and obligations of the corporation;
thus, creditors will not come knocking at the door of a shareholder to pay debts of the corporation.
In a partnership or sole proprietorship the owner's personal assets may be used to pay debts of the business.
Other advantages:
- A corporation's life is not dependent upon its members. A corporation possesses the feature of unlimited life.
If an owner dies or wishes to sell their interest the corporation will continue to exist and do business.
- Ownership of a corporation is easily transferable.
- Capital can be raised more easily through the sale of stock.
- A corporation possesses centralized management.
Some of the disadvantages:
- Complexity and expense of forming a corporation.
- Extensive record keeping requirements.
- Higher annual maintenance cost compared to sole proprietorship or partnership.
Don't hesistate.
auditors.net will do all the required work for you.
Call us now!!
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