The Asian Licensing Association was established by Hong Kong industry leaders in 2011 to promote Hong Kong as an international licensing hub. During 2019, the Hong Kong insurance industry's total gross premiums increased by 10.2% to HKD566.9 billion. There are 5 simple steps to get a business license with One IBC: Step 1: Do a license research. Payoneer Europe Limited. Skype for Business in Hong Kong. In Hong Kong, companies that operate in selected business fields must obtain special permits and licenses. The license is granted by the Commissioner of Customs and Excise (CCE) which is the body regulating this industry in HK. Business licence for partnership. Depending on the exact nature of our Client’s business, there is a 40% probability the Hong Kong government will require our Client to have Hong Kong office premises and present a leasing agreement, before approving the issuance of MSO license. IR56M. Guide to Financial Services License (Except Banking Licence) in Hong Kong 1. If the WFOE makes another investment to set up another company, then the business license would show that it is a Limited Liability Company (invested by foreign invested company). Importance of Business Licenses: Some Common Business Permits in Hong Kong. Business License for Trading company. Please. Business licensing for company limited in Hong Kong. The license is granted by the Commissioner of Customs and Excise (CCE) which is the body regulating this industry in HK. Living in Hong Kong. Guide to Financial Services License (Except Banking Licence) in Hong Kong 1. Payment Methods. Most businesses are not regulated in the ordinary business sense and therefore, do not require a specific business license to operate. Education Information. An amendment to Hong Kong’s anti-money laundering law has established a licensing regime for trust or company service providers (TCSPs). Hong Kong to require drone users to register, train and pass tests under proposed law. Generate. Waiver Period from 1.4.2021 to 31.3.2022. The Drinks Business is the leading drinks magazine for the off and on trade. Hence, there are two important Company Numbers as identity numbers (ID) for Hong Kong Companies. They are the Company Registration number and Business Registration number. You don’t apply for them. You get them automatically at the time you register the company. What is the Company Registration (CR) Number? This document is absolutely crucial to your company. This post is also available in: 繁體中文 (Chinese (Traditional)) 简体中文 (Chinese (Simplified)) Guide of Tax Deductible Expenses for Hong Kong Company. If you are doing business with Hong Kong companies and would like to know more information about them, the Hong Kong Companies Registry offers online search services on companies registered in Hong Kong. Opportunities abound in the education and training sector in Hong Kong, encompassing the whole spectrum ranging from playgroups and kindergartens to international schools and higher education … When registering a business in Hong Kong, HKSAR government provides an one-stop joint service by the Companies Registry and the Inland Revenue Department. My GovHK < back. Hong Kong is the second stop in Lufax's overseas business expansion. This article outlines everything you need to know about Business Registration Certificate in Hong Kong: what it is, how you can get one and why you need one, … My GovHK < back. Now I got a notification that because I was late to pay for business licence renewal fee, there will be a legal procedure and is shall be liable to a fine of $5000 and to imprisonment of one year. Hong Kong, a pro-business regime with open trade policy and reputation as the regional business hub and international financial centre, allows foreigners and foreign enterprises to easily incorporate of Hong Kong companies and subsidiaries. HK Regulation for Money Transfer Companies. * "Business" means any form of trade, commerce, craftsmanship, profession, calling or other activity carried on for the purpose of gain, any club; and every company incorporated in Hong Kong or registered as a non-Hong Kong company under the Companies Ordinance and a representative or liaison office in Hong Kong. Step 2: Make your payment. Waiver Period from 1.4.2020 to 31.3.2021. Concessionary Refund of Business Registration Fee. Inland Revenue Department: BIR 52 HONG KONG and SHANGHAI, June 23, 2020 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (“ Ping An ” or the “Group”, HKEx:2318; SSE:601318) is pleased to announce that Hong Kong Securities and Futures Commission (SFC) has granted Lu International (Hong Kong) Limited (“LUI HK”), a subsidiary of Lufax Holding (“Lufax”), a … Some of these authorities are in the form of an executive order issued by the President. Obtaining the business license for a Hong Kong Limited Company is straightforward and easy. Dominate The HK Business Community & Reach Out New Market. To operate businesses in Hong Kong, you will need to observe the environmental protection ordinances and apply for permits and licences as required. Licensed Money Transmitter in 51 states and territories . Entry Arrangement. Enquiries. Fortunately very few business activities require a business licence in Hong Kong. As a total solutions provider, Nixon offers its customers a wide range of capabilities including the design, supply, installation, and maintenance of Intelligent Building System (IBS) through its three main business divisions of IBS Solutions, IBS Maintenance and IBS Distribution. As the majority of the population in Hong Kong are descendants of migrants from China's Canton Province, the vast majority speak … According to the Hong Kong Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) Cap. Profits tax is levied at the rate of 16.5% for income derived from Hong Kong; Profits derived from outside Hong Kong is tax exempt. Ltd. ("LUI") launched with a Capital Market Services (CMS) license from the Monetary Authority of Singapore (MAS). 10,780 licensed technical representatives (broker). In order to apply for a business license in Hong Kong, the company must first be registered with the Companies Registry. Reference No. It also introduces the licensing and registration schemes for certain goods together with further information on related measures: Hong Kong's is a respected economy and, by some measures, one of the most open and transparent in the world, and expats find it easy and painless to business in the city. Limited. Requirements for Company Formation in Hong Kong To incorporate a Hong Kong limited company, you must meet the following minimum requirements: Have a business that ends with the word “Limited”. Online Search on Company’s Particulars. To operate businesses in Hong Kong, you will need to observe the environmental protection ordinances and apply for permits and licences as required. 19-06-02796), Trust or Company Service Provider Licence (TC006452) and Money Lender’s Licence (1087/2021) in Hong Kong. Fortunately very few business activities require a business license in Hong Kong. When it comes to Hong Kong law, Hong Kong companies must engage a Hong Kong resident company secretary for maintaining the company’s statutory records. (2) Participants of Hong Kong Futures Exchange Limited and licensed for Type 2 regulated activity. This section provides a quick glance of the policy on import and export of goods. AsiaBC team is highly experienced in applying for MSO Licence and other specific licences such as SFC Licence [Type 1, 4, 6, 9], Forex (FX) Broker Licence or Money Lenders Licence in Hong Kong or even other jurisdictions like Seychelles or Vanuatu for our local and foreign clients. T he Hong Kong Monetary Authority (HKMA) recently approved eight virtual banking licence recipients, opening the door for fintech companies to enter the banking industry.. Simon Hawkins, a counsel at Latham & Watkins in Hong Kong, told Asia Business Law Journal that virtual banks, like conventional “bricks and mortar” banks, were subject to the Banking … After you incorporate a company in Hong Kong, you will need to register it with the Business Registration Office at the Inland Revenue Department to apply for your Business Registration Certificate.You’ll need this certificate to display it at the address you have used to register your company. In order to apply for a business licence in Hong Kong, the company must first be registered with the Companies Registry. Do not travel to the PRC’s Hong Kong Special Administrative Region (SAR), Jilin province, and Shanghai municipality due to COVID-19-related restrictions, including the risk of parents and children being separated. Living in Hong Kong. When you set up your company in Hong Kong, you will receive a Business Registration Certificate issued by the Inland Revenue Department. The Business Registration Ordinance requires every person who carries on a business in Hong Kong to apply for business registration within 1 month from the date of commencement of the business. To run a restaurant in Hong Kong, you’ll need a General Restaurant Licence for the Good and Environmental Hygiene Department. But, we find that the Skype for Business cannot dial in to phone number, besides is only able to call between Skype account. There is a retail shop to operate the money services now. Taxes are a breeze in Hong Kong, even for businesses. Explore some of the key business and professional services areas below: Education and Training – Hong Kong is a leading education hub in the region. Hong Kong’s licensing regime underlines how the city has taken a different regulatory approach from that of mainland China in its bid to … GuideMeHongKong is here to help you successfully navigate the compliance requirements and administrative steps of opening and growing your business in Hong Kong. Restaurants in Hong Kong that also bake different types of pastry must obtain a separate bakery license. Applying for a Specific OFAC License. Hong Kong is, along with Singapore, the most liberal economy in the world.Therefore, opening a limited company is simple, fast, and cheap (the government requires a fee of 1,730 HKD for the Company Registration and a fee of 250 HKD for the Business Registration Certificate). Neat Limited is a holder of Money Service Operator Licence (No. Delivery services have grown in popularity and profitability. As a result, Hong Kong has become a key financial services center in Asia. Business licence for private limited company. Many of those who run restaurants in Hong Kong need to get the General Restaurant License before they can begin their business. A typical money lender’s business carries out activities on the financing of loans, providing mortgages and other allied activities related to finance. 1 Business and Company Directory, a full-service directory for B2B and C2B use. The authorities will visit your premises before granting you the permit. ... (TC006452) and Money Lender’s Licence (1087/2021) in Hong Kong. In 2017, Lu International ( Singapore ) Financial Asset Exchange Pte. Therefore, before doing business in Hong Kong, you should know what sort of license you should apply for. Hong Kong’s Insurance Authority (IA) will license its first digital-only insurer via its new Fast Track system next month, according … The steps for the application procedure involves: #1 Submit the documents. It is divided into three parts that have been explained briefly for you to comprehend easily: 1. Following are some of the most common industries that a Hong Kong entity may need a permit or license for: Licensing and permit requirements vary depending on the type of business. Because it takes time and resources to get a business license, it is important to find an expert to get the advice on what you need to get a business license. Helps Hong Kong business connect to a world of opportunities – linking you to the Chinese mainland, Asia and beyond through our network of 50 offices worldwide. Our Client is now legally licensed in Hong Kong and can i) start financial services operations and ii) sign contracts for the provision of such services; Yearly, the company must file every year an AML/CFT report. A business license or permit is extremely important for anyone to conduct any type of business. The Type 1 license allows LUI HK to provide individual investors with services for account opening, transactions and asset holding. You can do it on your own but you don’t … List of Current Charges. Hong Kong’s financial services industry has seen unprecedented growth in recent years. Register company now. The production of food and drinks in Hong Kong is a major economic activity there. About a year ago I have opened a company in Hong Kong. Business License for Financial Services. First, you must be registered with the Companies Registry before lodging your application for the necessary business licenses and permits in Hong Kong. Generally, these licenses and permits may take anywhere between two to eight weeks to get approval. To apply for a funeral parlour licence, the applicant should submit an application form FEHB 105 to FEHD for necessary action. Business Registration Office Address & Office Hours. A MSO applicant could be a Hong Kong limited company, Hong Kong unlimited company or overseas company. Business Development Manager Address： 1303, Swire & Maclaine House, 19-23 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong. Application for Business Registration Documents. Get a modern Business Account with instant corporate cards, currency wallets, automated accounting and awesome benefits. Hong Kong and Islands Kowloon New Territories; Mailing Address : Assistant Secretary, Licensing Office Hong Kong & Islands Licensing Office, 8/F, Lockhart Road Municipal Services Building, 225 Hennessy Road, Wan Chai, Hong Kong: Assistant Secretary, Licensing Office Kowloon Licensing Office, 4/F, Pei Ho Street Municipal Services Building, … In 2019, total office premiums for in-force long term business was HKD511.5 billion (a 10.8% increase). One of our Hong Kong company formation agents can give you more details and can also provide you with a Hong Kong shelf company , … A gym or another sports facility will need to pass several inspections and comply with the applicable safety norms for a public facility. According to the Hong Kong Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) Cap. Hong Kong’s financial services industry has seen unprecedented growth in recent years. Starting a restaurant business requires applying for various licenses and permits from FEHD. Many types of business require licenses to operate in Hong Kong, including operations providing food, beverages or tobacco, retailers, telecommunications, providers, and many types of … HK Regulation for Money Transfer Companies. Hong Kong’s restaurant industry showed growth in the first quarter of 2019, and recent market exits could suggest a timely opportunity to start a new F&B venture. Studying in Hong Kong. The Hong Kong Companies Registry, which currently performs the role of Registrar of Money Lenders pursuant to the Money Lenders Ordinance (MLO), recently released a new Guideline on Fit and Proper Criteria for Licensing of Money Lenders and a Guideline on Submission of Business Plan by Applicant of a Money Lenders Licence, both of which take … Subscribe to Envato Elements for unlimited Photos downloads for a single monthly fee. A business license permits you to conduct a specific type of business activity and is usually issued by a department or agency of the Hong Kong government. Business License for HK Limited Company. Our services are designed to meet the needs of small and medium enterprises including … Licensing of individual business activity. Our organization bought Office 365 Business Essentials and we want to use Skype for Business to call our clients. Fortunately very few business activities require a business licence in Hong Kong. In Hong Kong, if you want to run a business then you will need to get that license from a specific agency or a department of the Hong Kong government. The agency responsible for issuing an education business license is the Education Bureau of Hong Kong. Please visit the Trade & Industry Department website for details, or call 852-23985133 for enquires. Overview. The Type 4 and 9 licenses allow LUI HK to offer investment advice and provide professional investors with asset management services. Businesses For Sale Finance Companies Hong Kong $650,000. Some business activities in Hong Kong do require a license from a specific agency or a department of the Hong Kong government. Therefore, in addition to making good preparation for your business registration, one more important step to make your business run smoothly is to examine if the company needs to apply for licenses and permits. Contacting the local government office via Phone or Email is free and is the most reliable way to check your business name availability. The following business licenses are available in Hong Kong: food licenses, license for non-food goods and service licenses.However, there are business activities that require special licenses or permits that … The benefits of obtaining an MSO License in Hong Kong are as follows: Hongkong is one of the leading business centers in Asia; There is a possibility to provide types of financial services as currency exchange and money transfers; There is also an opportunity to buy an already existing MSO License in Hong Kong; and. The government of Hong Kong is pretty lenient and hence, only certain types of business require an official business license hong kong. During tax season, you can file your corporate tax online with a BIR51 form. I check it online and find that Online PSTN is not provided in Hong Kong. A receipted Business Registration Certificate will be posted to your business address soon afterwards. Normally, the Money Service Operators (“MSO”) License has a validity period of 2 years. The pros of opening a company in Hong Kong. There is no withholding tax on interest or dividends and no capital gains tax. Hong Kong Business Directory is your No. Before you can apply for the business license, you have to register your company with the Companies Registry. The Money lender license business in Hong Kong has started even before the introduction of the Hong Kong Money Lender’s ordinance (CAP 163) in 1980. Hong Kong tax on a territorial basis. Below is list of … click here for details. Search business name availability. The Trade and Industry Department in Hong Kong oversees that all companies apply for a business license according to the specifics of its activities. Subscribe and Download now! Notification of Cessation of Employment and Departure from Hong Kong. ... How do I apply for an export license? All it takes is a 15-minute online form and you’ll be ready to go in a matter of days. Invest share capital of a minimum of HK $1. Business Licence Information Service. Hong Kong is the second stop in Lufax's overseas business expansion. The Hong Kong-Related Sanctions program represents the implementation of multiple legal authorities. Nixon — The Extra-Low Voltage(ELV) Expert In Hong Kong. By post - you should send a photocopy of your old Business Registration Certificate with a crossed cheque made payable to "The Government of the Hong Kong Special Administrative Region" to the Business Registration Office. Dos and don’ts for drone fliers as Hong Kong considers laws to limit and license their use. Hong Kong MSO / SFC / FX Broker / Other Licences Application. Hong Kong Individual Business Licensing. Business license/permit. We discuss some business licenses in the region: Food Business. Business license. 832 licensed insurance broker companies. However, only a few types of businesses in Hong Kong require you to get that license. Cross-Boundary Travel. A business licence permits you to conduct a specific type of business activity and is usually issued by a department or agency of the Hong Kong government. Multi Jurisdictional Licenses. Similarly, the specific services requiring a business license in Hong Kong include accommodation, food, arts, entertainment, recreation, construction, education, finance, money lending, insurance, health, social work, import/export, wholesale and retail trade, information and communications, mining and quarrying, professional and business services, trust and company service … Driving licences in Hong Kong are issued by the Transport Department.A full driving licence is valid for 10 years (unless the driver is approaching 70 years old in age) and is compulsory in order to drive a motor vehicle. I am a foreign national and never really used the company. 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