Company Formation
Starting a business in Hong Kong: should you choose a limited or unlimited company? They differ in legal liability, tax and operating structure. 101 Business Consultant assesses your needs and helps you set up the most suitable type.
Company Formation Packages
All-inclusive price, counted from the same day. The limited company package already includes one year of company secretary service, so you're ready to go.
Which Company Type Suits You?
Answer three questions and we'll tell you whether to choose a limited or unlimited company.
Limited vs Unlimited Company: How to Choose?
Limited Company
- Legal liability
- Shareholders' liability is limited to their capital contribution; personal assets are protected
- Tax
- Profits tax 8.25% / 16.5% under the two-tiered rate
- Image
- More professional corporate image, helpful for financing and tendering
- Compliance
- Annual return and audit report required
- Suitable for
- Businesses that need financing, external contracts and long-term growth
Unlimited Business
- Legal liability
- The owner bears unlimited liability; personal assets are not separated
- Tax
- Taxed on personal / sole proprietorship or partnership profits
- Image
- Simple structure, low formation and maintenance cost
- Compliance
- No audit required, simpler administration
- Suitable for
- Small businesses, freelancers and lower-risk ventures
Documents Required for Company Formation
Prepare the following information and send it to us via WhatsApp to get started. The incorporation form (NNC1), Articles of Association and Business Registration notification (IRBR1) are prepared and submitted by 101.
Limited Company
- Proposed company name (Chinese, English or both)
- Brief description of the business nature
- HKID or passport copy of each director and shareholder
- Proof of address within the last 3 months for each director and shareholder (e.g. utility bill, bank statement)
- Share capital and allocation (e.g. 10,000 shares at HK$1 each)
- Registered address (you may use the address provided by 101)
- Company secretary (must be a Hong Kong resident or Hong Kong company; 101 can act)
Legal requirement: at least 1 director (an individual aged 18 or above) and 1 shareholder; they may be the same person.
Unlimited Business (Sole Proprietorship / Partnership)
- HKID or passport copy of the owner (or each partner)
- Proof of address within the last 3 months
- Business name (Chinese, English or both)
- Brief description of the business nature
- Business address
An unlimited business does not need to register with the Companies Registry; it only needs to apply for a Business Registration Certificate from the Business Registration Office of the Inland Revenue Department.
4 Steps to Set Up
Consultation & Name Search
We understand your business needs, choose the company type and check whether the company name is available.
Prepare & Sign Documents
Prepare the incorporation documents (NNC1, Articles, etc.) and arrange signing by shareholders and directors.
Submit to Companies Registry & IRD
Submitted through the Companies Registry e-Registry; the Certificate of Incorporation (CI) and Business Registration Certificate (BR) are usually issued within 1 hour.
Collect Your Green Box and Start Operating
We hand over the company document green box and chops, and can immediately arrange bank account opening and secretarial service.
Government fee reference: the Companies Registry fee for incorporating a company limited by shares is HK$1,545 (online) / HK$1,720 (paper), plus business registration fee and levy, subject to the latest announcements by the Companies Registry and the Inland Revenue Department.
Ready to Set Up Your Company?
One WhatsApp message and a dedicated team member will follow up the same day on name search, document preparation and registration arrangements.