Hong kong

Introduction Hong Kong is one of the most business-friendly jurisdictions in the world. It allows 100% foreign ownership, low taxes, and a simple incorporation process. Although Hong Kong law doesn’t use the term “One Person Company” (OPC), it fully supports the formation of a Private Limited Company (Ltd.) with only one shareholder and one director. This means an individual—whether based in Hong Kong or abroad—can own and control a Hong Kong company entirely by themselves. The structure functions similarly to a One Person Company in India or a Single-Member LLC in the U.S. 1. What Is a One Person Company in Hong Kong? A One Person Company in the Hong Kong context refers to a Private Limited Company (Ltd.) that: Under Hong Kong’s Companies Ordinance (Cap. 622), a private company must have at least: So yes—you can register and run a company on your own. 2. Benefits of a One Person Company in Hong Kong ✅ 2.1 Limited Liability Protection You are not personally liable for the debts of the business beyond your investment. This protects your personal assets from legal claims or business losses. ✅ 2.2 100% Ownership You retain full control and decision-making power. There’s no requirement for a local partner. ✅ 2.3 Corporate Identity A company registered in Hong Kong gains professional credibility, making it easier to secure clients, open bank accounts, and sign contracts. ✅ 2.4 Low Tax Regime Hong Kong offers: ✅ 2.5 International Banking Hong Kong companies can open multi-currency bank accounts, apply for credit cards, and access international markets easily. ✅ 2.6 Foreign-Friendly You can own and operate a company in Hong Kong even if you: 3. Requirements to Set Up a One Person Company Requirement Details Director At least one (must be an individual, any nationality) Shareholder At least one (can be the same as the director) Company Secretary Required (must be a Hong Kong resident or corporate body with a HK address) Registered Address Must be in Hong Kong (not a PO Box) Company Name Must be unique; can be in English, Chinese, or both Share Capital No minimum, but usually set to HKD 1,000 or more 4. Step-by-Step Guide to Setting Up a One Person Company in Hong Kong Step 1: Choose a Company Name Step 2: Appoint Roles Note: You cannot be both the sole director and company secretary. You will need someone else or a professional firm for the secretary role. Step 3: Prepare Incorporation Documents Required documents include: Step 4: Submit Application Register through the Hong Kong Companies Registry either: Step 5: Receive Incorporation Certificate Approval typically takes 1-3 working days. You’ll receive: 5. Post-Incorporation Requirements After registering, you must: ✅ 5.1 Open a Corporate Bank Account Options include: Some banks may require a face-to-face meeting or video call. ✅ 5.2 Register for Taxes All companies must: ✅ 5.3 Maintain Annual Compliance Each year, a company must: 6. Taxation for One Person Companies Hong Kong operates a territorial tax system, meaning: Corporate Tax Rates: Profit Bracket Tax Rate First HKD 2 million 8.25% Above HKD 2 million 16.5% There is: Small businesses may qualify for the two-tier profits tax regime and other exemptions. 7. Comparison: Hong Kong OPC vs Other Structures Feature One Person Company Sole Proprietorship Partnership Legal Entity Separate Not separate Not separate Liability Limited Unlimited Joint and several Ownership 1 person 1 person 2+ people Tax Corporate tax Personal income tax Personal income tax Image High credibility Less formal Moderate credibility 8. Using a Professional Company Formation Agent For overseas entrepreneurs or first-time founders, using a licensed company secretary or formation agent is recommended. They typically offer: Cost ranges: HKD 2,000 to 8,000 annually depending on services. 9. FAQs Q1: Can a foreigner open a company in Hong Kong? Yes. You do not need to live in Hong Kong. You just need a local company secretary and registered office. Q2: Can I run the company completely alone? Yes, but you must appoint a separate company secretary. You cannot be both the only director and secretary. Q3: How long does incorporation take? 1–3 business days if all documents are in order. Q4: Do I need to visit Hong Kong? No, company formation and banking can often be done remotely. Some banks may require a video call or in-person visit depending on risk profile. Conclusion A One Person Company in Hong Kong (a private limited company owned and managed by a single individual) offers: Whether you’re a freelancer, global entrepreneur, or e-commerce seller, setting up your company in Hong Kong gives you a strategic foothold in Asia and access to global markets — all with minimal overhead and world-class legal infrastructure. Would you like: