How to Obtain a Business License in Hong Kong
Hong Kong is a unique administrative region of China, which means it has its own economic system, currency, administration, and laws. Most people come here for the lifestyle and the shopping opportunities. It is also home to many international companies with offices or factories here.
Foreigners and foreign businesses can readily incorporate Hong Kong firms and subsidiaries thanks to the pro-business government’s open trade policy, reputation as the region’s business hub, and status as a global financial hub. As a result, a special business license is not necessary for most firms to function because the word’s traditional meaning does not govern them.
However, before starting operations, a special business license must be obtained based on the nature of your company and the industry in which it operates. In addition, it should be mentioned that the company registrar must accredit a firm before requesting a particular business license. As a result, obtaining a license requires business registration.
Business Types That Should Apply for Hong Kong Licenses and Permits
1. An Employment Agency
To operate an agency that offers placement and recruitment services, getting a license from the Labor Department is required.
In addition, you will not be required to submit a license application if you acquire a Certificate of Exemption from the Commissioner of Labor according to section 52 of the Employment Ordinance.
2. Education Business
Establishing educational institutions entails obtaining a license from the Hong Kong Education Bureau. With a school registration certificate, you can establish a kindergarten, an academic school, a vocational center, a language school, a computer education center, a distant learning center, childcare centers, and many other education-related companies in Hong Kong.
3. Retail Business
This depends on the nature of your products and services. For instance, the Health Department must grant a license to a merchant of Chinese traditional medicine or drugs and medical equipment. If you offer a variety of products or services, you could be required to obtain more than one license or permit.
The top 3 licenses for a retail business in Hong Kong are listed below:
● Retailer License in Chinese Herbal Medicines (Department of Health)
● Listing Certificate of Class II/III Medical Devices and Certificate of Registration of Premises of an Authorized Seller of Poisons (Department of Health)
● Animal Boarding Establishment License (Agriculture, Fisheries and Conservation Department)
4. Travel Agency
Travel and tourism are advancing rapidly in accordance with Hong Kong’s faster progress in many ways, creating a significant opportunity for many overseas investors. Additionally, you need a license to run your company in Hong Kong as a travel agency.
You can offer tours, vacation packages, and transportation services if you have a travel agent’s license from the Commerce and Economic Development Bureau. To be more precise, you can sell tickets for transportation, plan a tour with a group, book hotel rooms, and carry out other pertinent tasks.
5. Restaurant business
The business location must be settled upon before submitting a licensing application. The licensing authority is the Department of Food and Environmental Hygiene. If alcohol is provided on the property, a license must be obtained from the Hong Kong Liquor Licensing Board. Other licenses such as the Food Factory License for producers and processors of packaged foods, the Import License to import frozen meat and poultry, the Restricted Food Permit to sell restricted foods like oysters, raw meat, sushi, or sashimi, the Bakery License, Vending Machine Permit, Bakery License, and Karaoke Establishment Permit may also be needed, depending on the type of business.
6. Financial Service Company
A variety of licenses, including those for money lenders, insurance brokers, pawnbrokers, representatives for investment advisory services, money changers, and remittance agents, may be needed depending on the type of services offered. The Hong Kong Police Force, Office of the Commissioner of Insurance, Companies Registry, Securities and Futures Commission, and the Monetary Authority of Hong Kong are only a few organizations in charge of administering the licenses.
7. Event Management
Depending on the services offered, this business may need several licenses from different organizations. For example, event management firms are organizations that plan exhibitions, seminars, conventions, conferences, concerts (indoor or outdoor), community or sporting events, and so on. The Televisions and Entertainment Licensing Authority, which grants numerous licenses, including the Amusements with Prizes License, the Lottery License, and the Certificate for Advertising Materials, is the primary licensing body. Additionally, additional permits like the liquor license and the food factory license may be required.
8. Environmental Protection
Before launching your business in Hong Kong, you need to be aware of a number of environmental protection laws. Even more so if your company engaged in any restricted activities, in which case you must apply for an environmental license or permit. The following laws pertaining to environmental protection and pollution management are now in effect in Hong Kong: the Ozone Layer Protection Ordinance, the Product Eco-responsibility Ordinance, the Air Pollution Control Ordinance, the Water Pollution Control Ordinance, the Waste Disposal Ordinance, the Dumping at Sea Ordinance, the Noise Control Ordinance, the Environmental Impact Assessment Ordinance, and the Hazardous Chemicals Control Ordinance.
Process Business License in Hong Kong
You should first determine whether your company needs to obtain the license or permit per the Hong Kong government’s requirements to ensure a successful application. If that’s the case, ensure you have all the paperwork you need to finish the licensing process.
Take note that any application for a business license in Hong Kong must meet the requirement that their specific firm is already registered with the Companies Registry of Hong Kong.
Documents to Prepare When Applying for Business License
Submit the following documents with the corresponding fees either online via “e-Registry” or “CR eFiling” mobile application or in hard copy:
- Incorporation Form – Form NNC1 (for a company limited by shares) or Form NNC1G (for a company not limited by shares);
- Copy of the company’s articles of association (samples are available for use at e-Registry); and
- Notice to Business Registration Office (IRBR1).
If your application is approved, you can download or pick up your Certificate of Incorporation and Business Registration Certificate (“the Certificates”). Certificates will be issued in either electronic or hard copy form, depending on how the applications are delivered. Certificates, either electronic or hard copy documents, have the same legal bearing.
Why Choose Wubi Trading for Business Licensing in Hong Kong?
We are a business license Hong Kong expert with more than ten years of experience providing cost-effective solutions to your business needs. Our focus is on quality and efficiency, not cost.
With our team of qualified professionals in Hong Kong, we can provide you with professional services that suit your needs perfectly. We offer various services, including consultation, planning, and execution.
Wubi Trading has a simple user interface. For overseas traders, our workers speak English, Cantonese, Chinese, and Korean. With our team’s extensive experience in customs clearance, we understand what you require and can easily give it to you.
FAQs Hong Kong License and Permits
Licenses are becoming increasingly wide, granting permission to do or use something.
To lawfully operate a business in Hong Kong, you must get licenses and permissions. The type of license you need is determined by the nature of your business. A Hong Kong Government department or agency is in charge of giving licenses and permits to qualified enterprises looking to launch a business here.
Foreigners can also register a business in Hong Kong. In reality, Hong Kong urges foreigners to establish firms there.
In Hong Kong, anyone or any organization can form a business. A minimum of one shareholder is required, whether local or foreign. The stockholders must be over 18. A minimum of one director is required.
The following documents are typically required to open a savings or current bank account as a foreigner: your Hong Kong Identity Card or a valid passport; proof of address in Hong Kong or your home country (you do not need to be a Hong Kong resident to open a bank account in Hong Kong); and a completed application form.
Hong Kong has no general income tax (SAR). Income must fall under one of the specific taxation heads to be taxed. Salaries tax – on income from a job, an office, or a pension. Profits tax is levied on trade, profession, or business earnings.
Hong Kong, as the world’s only free port, has always been the East’s business and trading hub. The ease of doing business and accessibility of goods have made Hong Kong one of the world’s biggest international finance centers.
If you want to save time and money while avoiding the inconveniences of chores during registration, you could use a reputable service provider like Wubi Trading to assist you. Wubi Trading is the leading source for business licensing in Hong Kong. We can help you get your licenses for various types of companies. So get your free consultation today!
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