Hong Kong is now considered as the best business place for many businesses, and businessmen are moving more towards opening their own company in Hong Kong for a better business prospect. On an average, usually it will not take more than 4 to 7 business days to complete the processes and procedures to open a company in Hong Kong. Sometimes, it may take some extra time if any overseas company is going to open its business entity in Hong Kong. One this is very important to keep in mind that, no bearer share is allowed when any such company is going to open its office in Hong Kong.
Incorporating a company in Hong Kong is followed by some easy and simple steps, and even the owner of the business or his/her representative are not necessarily present in Hong Kong physically during the process. The banking part of the company involve with any local Bank of Hong Kong, and it may require to contact and communicate with the bankers regarding the financial transaction process in order to open a company in Hong Kong.
Business owners need to submit a set of documentation for processing the incorporation of the business in Hong Kong. A recent copy of the passport, residential address (with proof), reference letter from the bank, and other incorporation details are required to be submitted for this purpose. Business are not allowed to open a bank account in any local bank of Hong Kong and it may take from 2 to 10 days to open a bank account, which also varies from bank to bank. Another compulsory part of incorporating a business in Hong Kong is to submit an audited account mentioning profit tax return and inland revenue. It is not mandatory to file accounts while opening a company in Hong Kong.
Small corporation and dormant companies may not necessarily submit the audited accounts only if the annual income of the company is less than 500,000 Hong Kong Dollar. Again, the dormant companies having no annual transaction over a certain fiscal year also enjoy the same facility, as well. There are some common laws which are strictly followed when someone is going to open a company in Hong Kong. There are many agencies and company law years, available at Hong Kong who can help these businesses to open and continue their business in Hong Kong.
Trademarks are symbols, names, words or devices utilized by manufacturers merchandise and providers of services to identify their goods and services and to separate their product and services from product ready-made and oversubscribed by others. Maximum countries contain acknowledged a registration of a trademark as a precondition for ensuing this brand of achievement. China is one of these countries which have a large market place.
China is one of the leading members of the Madrid Agreement and therefore the Madrid Protocol. The prevailing trademark law defends unregistered trademarks if the symbol has been used and appreciates an explicit status or the mark is familiar as a widely recognized brand in China. The trademark registration method in China stringently monitors the major classification system. Broadly speaking, the primary individual who documentations a China trademark application can assume the trademark registration in China. Once The China Trademark office accepts your application for trademark registration, they’ll provide you an application number and issue the Notification of Acceptance within forty five working days. If you have funded the accurate fee, the China Trademark office can inspect your application and authorize that your application is acceptable or send you a transcribed Examination Report which will gradient all the protestations against it. When the appliance of China Trademark office is appropriate, the elaborate info about the trademark document in Registration record and thus the individual can collect a Registration Documentation. Any foreigner or foreign innovativeness meaning to apply for trademark registration in China should categorizer an application in conformity with applicable settlements all over between the country to which the person belongs and China, or in observance with appropriate international agreements to which both countries are events or on the premise of the principle of reciprocation. Where an application has delivered the investigation both in character and in constituent, preliminary agreement is decided and therefore the trademark is available. If the registration of an opposed trademark has been available before the ruling on the disagreement becomes effective, the inventive publication are rescinded and therefore the trademark whose registration is permitted within the ruling on the opposition are available anew. To change the name of a trademark, a document in the upkeep of the adjustment supplied by the registering organization should be acquiesced. The total validity of a registered trademark is 10 years, calculated from the date of sanction of the registration. For renewal, the amount of authority of each regeneration is 10 years, calculated from the day like a shot following the termination of the former validity amount.