2. Q：Can Mainland resident incorporate Hong Kong Company?
    A：Yes. The Hong Kong Companies Ordinance has no restriction on the nationality of shareholder/director.

3. Q：How long will it take for incorporating a Hong Kong Company?
    A：2 workdays.

4. Q：Do the business nature have to be filled on the Business Registration Certificate?
    A：no necessarily

5. Q：Are there any restrictions applied to the Company’s expansion on other business if the scope of business is specified on the Business Registration Certification?
    A:The scope of business specified in the Business Registration Certification generally indicates the core business of the Company and no restriction applies to the scope of business nor theCompany’s expansion on other business.

6. Q：Can the Company increase the registered capital after its registration?
    A：Yes. It shall pay Stamp Duty of HKD1 for each increase of HKD1,000 in registered capital. It can further allocate shares to new and old shareholders as required.

7.  Q：Are there any restrictions in naming the company?
     A：Unless submitted application for related license, company names cannot contain the word “Bank” or “Insurance” as well as words which may mislead people to believe it has any relation with the Government.

8. Q：Can a limited company be incorporated without the word “Limited Company” or “Limited” in its name?
    A：No. A Limited Company incorporated in Hong Kong shall have its name with the words “Limited Company” or “Limited” in order to indicate that shareholders shall bear limited liability for future obligation.

9. Q：Can incorporated company change its name?
    A：Yes.

10. Q：What are the differences between naming Hong Kong Company and MainlandCompany?
     A：Hong Kong Company can be named freely, and on the premise that no exact companyname has been registered, some words which are difficult to be registered in Mainland can be registered in Hong Kong. Whatever the amount of the registered capital, companies are permitted by the Hong Kong Government to contain words “International”, “Group”, “Holdings”, “Industrial”, “Investment” and etc. in their name. In addition, preferred name of countries or places, such asFrance, USA, Italy, Japan, Hong Kong and Shanghai, etc., could be added in front of companyname.

• To take part in meetings of shareholders, and entitled to voting power in proportion of shareholding
• To understand the operating and financial conditions of the company
• To elect and to be elected as members of Board of Directors
• To obtain dividends
• To pre-empt shares transferred by other shareholders
• To subscribe in priority the shares newly issued by the company
• To have distribution from the remaining property after liquidation of the company
• To consider and pass the annual auditors’ report in meetings of shareholders
• To employ or dismiss directors in meetings of shareholders and determine directors’ remuneration

Directors’ rights and obligations are as follows：

• To take charge of ordinary operations and decisions of the company
• To keep accounting book and business record
• To take charge of bank account management
• To secure the loan borrowed with the company’s property
• To propose profits distribution scheme
• To propose registered capital increase scheme
• To convene meetings of shareholders
• To execute resolutions passed at meetings of shareholders

2. Q：Can the shareholder and director be the same person?
    A：Yes. The shareholder and director of the company can be the same person.

3. Q：Is it necessary for non-Hong Kong residents to hold a passport in order to be the shareholders or directors of limited company?
    A：No. However, shareholders and directors of the company shall hold valid passports or travel permits and ID cards when they want to open a bank account in Hong Kong.

4. Q：Can others access the information of directors and shareholders of a company?
    A：Yes. All information of a limited company registered in Hong Kong, including names, addresses and shareholding percentage of shareholders; and names, ID card numbers or passport numbers and addresses of directors, shall be accessible by the public. If the information of shareholders and directors want to be kept confidentially, （UWS can provide services of acting as nominee shareholder and nominee director. (Detail: Nominee Service).

1. Q：What is Company Secretary?
    A：According to the Hong Kong Companies Ordinance, limited company shall appoint a Company Secretary, whose function is to be in charge of arranging meetings, keeping minutes of meetings, and presenting statutory documents to governmental department in order to ensure the company meets statutory requirements. In addition, Company Secretary shall assist with opening bank account.

2. Q：What is the qualification for Company Secretary?
    A：Hong Kong resident who are 18 years old or above, or Limited Company registered in Hong Kong is qualified.

3. Q：What if there is no eligible person to act as statutory secretary of the company?
    A：Another company, such as Certified Public Accountants in Hong Kong, can be employed to provide the service of statutory secretary. UWS can also provide relevant service (Detail: Corporate Secretarial Service).

1. Q：Does a company need to have an office or address in Hong Kong in order to be registered?
    A：Company to be registered in Hong Kong needs a Hong Kong registered address but no requirement of having its own office. Uws can provide company registered address service, so clients will not pay additional expenditure for office renting.

2. Q：Must the registered address of the company be in Hong Kong?
    A：Yes. All companies registered in Hong Kong must have a Hong Kong address, because all government letters will be posted to that address.

3. Q：What if there is no registered address in Hong Kong?
    A：The company registered address service provided by UWS can be used.

• NNC1
• CERTIFICATE OF INCORPORATION
• BUSINESS REGISTRATION CERTIFICATE
• MEMORANDUM&ARTICLES
• DIRECTORS & MEMBERS ID CARD

2. Q：How can a registered company open a bank account?
    A：All shareholders and directors must be present for the account opening. However, requirement of the attendance of shareholders varies from one bank to the others. Company shall prepare company registration documents and present to the bank for the procedure of account opening. It may choose to open an account in foreign banks located in Hong Kong or overseas.

3. Q：Is there any limitation for cash withdrawal from Hong Kong bank
    A：Capital in Hong Kong is freely circulated without limitation.

4. Q：When can bank account be operated?
    A：Banks will check the register of the company after the procedure of opening account. Generally the account can be operated 2 weeks after the opening.

5. Q：Can a company open several bank accounts?
    A：In Hong Kong, a bank account is not differentiated by basic account and general account. Enterprise can open several accounts according to its needs, and every account has the same function and position.

6. Q：What are the differences between Hong Kong local and Mainland offshore accounts in operation aspect?
    A：Hong Kong local and Mainland offshore accounts are different in the following aspects:

• The capital in bank account is not restricted to come in or go out of Hong Kong while no cash deposit to offshore account of foreign banks within Mainland China is accepted as such account is under the supervision of Chinese Financial Regulator.
• Hong Kong local account has complete banking functions, but offshore account is restricted in some functions.

1. Q：Can a Hong Kong company be deregistered?
    A：Mutual consent reached by all shareholders：

• No running or operating any business of the company, or stop operating for more than 3 months before applying for deregistration.
• No unpaid indebtedness, including government charges and taxes.
• Notice of No Objection issued by the Commissioner of Inland Revenue obtained.

2. Q：How long it will take to apply for Hong Kong Company deregistration?
    A：Generally it takes about 6 months.

3. Q：Does the company need to submit Annual Return during the period of application for Hong Kong Company deregistration?
    A：Yes. The company still needs to submit the Annual Return until the Companies Registry notifies the company of its deregistration.