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HONG KONG COMPANY FORMATION
KOREAN
ENGLISH
Required Documents for Hong Kong Company Formation
- If the (individual shareholders / directors) of shareholders / directors minute private
1. Copy of shareholder/director's passport
2. Shareholder/Director's proof of address in English (within the last 3 months)
** If you are a Korean resident, submit the original resident registration in English.
** For foreign residents, Utility Bill or Bank Statement
3. Complete and sign the application for corporate establishment (download)
** Minors cannot be registered, and personal bankruptcy is not allowed to be registered until rehabilitation or debt repayment is confirmed.
4. Identity authentication
In accordance with the recently strengthened TCSP license regulations and AMLO (Act on Anti-Money Laundering), shareholders/directors must choose one of the methods below to authenticate themselves. (Authentication is an important procedure in order to prevent crimes such as forgery passports, passport theft, and impersonation of others.)
1) Take a picture so that the passport and the person's face appear at the same time
2) Submit the certificate of passport copy from the ward office and submit it (cost of 1,000 won, about 2 days)
3) Passport notarization at a notary office nearby (Consult the notary office for cost and duration)
4) Proceed notarization at the legal office (Seocho-gu) designated by the company (cost 30,000 won, same-day processing)
** If a person other than a shareholder/director of a Hong Kong corporation registers as a contact person, you must prepare the following information.
What to do when registering an Authorized Contact Person:
1. Copy of passport of designated contact person
2. Proof of address of the designated contact person (within the last 3 months)
** If you are a Korean resident, submit the original resident registration in English.
** If you are a foreign resident, you can verify your local address.
3. Fill out 3 pages (or 4 pages) of the corporate establishment application form (check the designated contact person)
4. Identity authentication
The designated contact person must select one of the methods below to authenticate.
(Authentication is an important procedure in order to prevent crimes such as forgery passports, passport theft, and impersonation of others.)
1) Take a picture so that both the passport and the face of the person concerned appear at the same time (passport content in the picture must be readable)
2) Submit the certificate of passport copy from the ward office and submit it (cost of 1,000 won, about 2 days)
3) Passport notarization at a notary office nearby (Consult the notary office for cost and duration)
4) Certification proceeds at the law office (Seocho-gu) designated by the company (cost 30,000 won, same-day processing)
Roles and regulations of designated contacts:
Role: Person in charge of exchanging business contacts with newly established corporations
Responsibilities: Inquiries regarding corporate and business inquiries, progress checks, and inquiries regarding registered documents Access to your information and documents. Your mail documents can be viewed.
Cost: Free for one person. (Additional personnel will incur HKD2,000 per person per year)
** If the above method is burdensome, you can also use the following method.
The designated contact person is one person, but you can have two email contacts to send and receive communication, or create a public email and share it internally. In this case, the service is available without any additional cost or registration.
However, in the case of e-mail communication, you must refer to all of the designated e-mail addresses, and if a person other than the designated contact person inquiries about your company on a wired or SNS (KaTalk, Wechat, etc.) information security Service availability may be limited.
-( Shareholder ) Documents required when a Korean holding company establishes a Hong Kong subsidiary
1. English Business Registration Certificate
2. Registered Korean
3. Resolution of the board of directors for the acquisition of shares in the articles of association and Hong Kong subsidiaries (If a resolution is required according to the articles of association, a resolution for the shareholders' meeting is also presented)
4. List of shareholders in English (Provided with a scanned copy of the passport and proof of address of shareholders who hold more than 25% stake)
5. The above personal documents and personal identification of the director to be registered
6. Complete the application for corporate establishment and sign for the representative director
** The above data must be submitted as the latest data within 3 months.
** Shareholders of natural persons with a beneficiary interest of more than 10% of Hong Kong subsidiaries are required to attend a bank meeting for the purpose of personal identification when establishing a corporate account. However, if the holding company is a publicly traded company, the number of participants in the meeting can be adjusted according to the bank. Beneficial interest refers to an individual who holds 10% or more of a Hong Kong corporation, or a shareholder of a corporation that holds 10% or more. (For example, if a shareholder holding 50% of a Hong Kong subsidiary is a Korean subsidiary, those who hold 20% or more of the Korean subsidiary are deemed to have at least 10% of the interest in the Hong Kong subsidiary).
Service History
(Foundation and management for the first year):
1.Certificate of Incorporation
2. Business Registration **Free processing when requesting business registration
3. Articles of Association booklet 10 pcs
4. Certificate of Shares booklet 1 piece
5. Corporate Register 1 book (Statutory Book 1 piece)
6. 1 company name plate (cheolin) (Common Seal 1 piece)
7. Company stamp (for general/signature) 2 (Company Chop -normal round type/rectangle for signature 2 pcs)
8. Company Secretary registration for the first year
9. Annual address use and mail (scan/email) service (Providing HK address and mailing service including scanning and emailing)
10. Report salary income by employer (postage cost HKD200 is added, and there is no additional cost for up to 2 employees)
(Handling Employees' Return; + HKD200 postal charge; up to 2 employees without further charge)
11.Reporting of corporate information and employment status (Handling mandatory Survey of Company Information)
12. Preparing and keeping a list of important decision makers (Handling Significant Controllers Register)
13. Preparation and retention of corporate shareholders/directors/secretaries and corporate governance charts (Handling Register of Members/Directors/Secretary and Organization Chart)
14. Basic business advice for the first year
15. Answering telephone and fax services
Included in the service for opening a corporate account (based on one corporate account):
1.Consultation for the opening bank account
2. Review of KYC documents, data collection and bank meeting
(Reviewing & collecting KYC documents and arrangement of a meeting with the banker)
3. Assisting at the meeting with the banker
4. Consultation at/before the meeting
Hong Kong Corporation Annual Update Service Included
1. Annual Report
2. Business Registration **Free processing when requesting business registration
3. Company Secretary registration for the first year
4. Annual address use and mailing (scanning/email) service (Providing HK address and mailing service including scanning and emailing) **Free registration and business registration change when business address is changed
5. Report the salary income by the employer (postage cost HKD200 is added, and there is no additional cost up to 2 employees) (Handling Employees' Return; + HKD200 postal charge; up to 2 employees without further charge)
6. Reporting of corporate information and employment status (Handling mandatory Survey of Company Information)
7. List of important decision makers and keep them (Handling Significant Controllers Register)
8. Corporate Registered Director/Director/Secretary List and Governance Chart (Handling Register of Members/Directors/Secretary and Organization Chart)
9. Basic business advice for the first year
10. Answering telephone and fax services
** Business registration fee for Hong Kong's financial budget from April 1, 2019 to March 31, 2020: HK$250
** 10~30% discount depending on the cumulative number of years (from the second annual renewal, the discount is applied, the discount is increased by 5% each year, up to 30%)
** Income reporting and accounting audit costs are separate (detailed estimate after annual accounting data review)
** Separate information for annual renewal
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