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Steps To Open Company In Hong Kong

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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.

Best ways to register a trademark in China

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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.

Trademark Registration Differences between Hong Kong and Mainland China

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In the modern economy, trademarks are very important for enterprise. In addition to the difference between the source of the goods or services, trademark can prevent others from squatting to seize the market. Trademark is also a weapon for corporate brand building and realizing the asset value. In recent years, trademark registration volume has increased significantly in mainland China and Hong Kong. Conpak CPA  is a professional agent for the Mainland and Hong Kong trademark registration over the years. We remind all the trademark applicants that the Mainland and Hong Kong belong to one country, and have the frequent economic and trade exchanges, but the trademark law is not the same, the approved registered trademark in the Mainland does not automatically take effect in Hong Kong.

Common Points of Trademarks in Hong Kong and Mainland

In view of the trademark own properties, Hong Kong trademarks and Mainland trademarks have the following common points:

1. Trademark valid and renewals

Both trademarks valid in Hong Kong and the Mainland are 10 years. If you want to continue using the trademark after the expiration, the trademark owner may apply for renewal, the renewal is valid for 10 years.

2. Trademark revoked

According to the Trademark Laws of Hong Kong and the Mainland, if the registration of a trademark violates the relevant laws and regulations or stop using for three consecutive years, the trademark will be revoked in accordance with.

3. Registration process

The trademark registration process is very similar to Hong Kong and the Mainland, including several links as trademark searches, the form of review, substantive examination, announcement and approval of the registration. Among them, trademark search is not a necessary condition for trademark registration, but in order to avoid the departments rejection for the earlier trademark or similar mark, Conpak recommends the applicant to make a trademark search before signing up, apply registration only after the affirmative registered chance.

4. Priority

Both of Hong Kong and Mainland trademarks have priority. If the applicant prior to the filing of trademark applications within six months, have submitted the application for trademark registration of the same product or service in the Paris Convention country or WTO members, that will enjoy trademark registration priority. In addition, the Mainland trademark which has used for the first time on the goods of the Chinese government recognized international exhibition on display, to use the trademark, the trademark applicants have priority within six months from the date of the merchandise on display.

5. Trademark notice

In the trademark registration process of Hong Kong and the Mainland, has period of three months for Trademark Notice. In this period, any person may object to the trademark or objection. The opposed or the opponent may withdraw the registration application, and can also choose to reply or objections.

6. Trademark management

Hong Kong trademark and Mainland trademark can change the trademark name of the applicant, address and such matters, in addition, the two trademarks can also transfer, licensing, and take legal measures for infringement of others.

Distinctions of Hong Kong Trademarks and Mainland trademark

Hong Kong and mainland China have their own independent system of trademark registration, Trademark Law of the Hong Kong is by the common law system, there are many differences with mainland trademark law adhering to the civil law.

1. Protection principles

Hong Kong Trademarks use first protection principles, the Mainland trademarks implement first applied principles.

2. Trademarks species

The Mainland and Hong Kong may be registered trademarks, service marks, certification marks. In addition, Hong Kong can register a series of trademarks and defensive trademark, body trademarks, scent trademarks, and the mainland can be registered collective trademark.

3. Apply conditions

The Mainland and Hong Kong’s natural or legal person may apply for the registration. Mainland natural person trademark application need to provide the individual businesses and business licenses and other related materials, natural persons in Hong Kong simply submit personal ID card or passport, without providing individual industrial and commercial households business license.

4. Trademark acquisition time

Hong Kong trademark acquisition time is calculated from the date of submission of application for trademark registration, and the Mainland trademark acquisition time is calculated from the date of approval of the trademark registration.

5. Required time of registration

Hong Kong is one of the shortest areas of application for trademark registration, the entire registration time is about six months, and the mainland takes about 15-18 months.

6. Customs protection

Mainland China has implemented a system of IPR customs protection, according to the relevant provisions of the Customs Law of the People’s Republic of China, trademark rights holders could apply to the General Administration of Customs for the record. In the international trade process, if the rights person or Customs found the suspected infringing goods, Customs can detain the goods according to the law, and takes further legal protection.

It must be pointed out that Hong Kong is the world famous free port and financial center, the legal system is integrity and the infrastructure is very sound. Registered trademark in Hong Kong, you can maximize use of a good image in the international metropolis of Hong Kong, and rapidly increasing brand awareness and competitiveness of enterprises. More about the trademarks similarities and differences between Hong Kong and Mainland China, please contact us to further explore.