Expanding a recruitment business overseas can be a great strategy for encouraging growth, demonstrating scalability and ultimately increasing the value of your business. Recruiters are quickly recognising that some of the greatest opportunities lie further afield, and seeking new markets can help put your business ahead of your competition.
Why Open A Recruitment Business In Hong Kong?
Hong Kong is a world-renowned business and financial centre and the local authorities actively welcome new businesses. The process of setting up a new company is relatively straightforward and opening a new recruitment business will give you access to Hong Kong’s highly skilled workforce.
Hong Kong has a favourable taxation regime for international trade, and profit tax on domestic Hong Kong business income is 17.5% (as of 12th May 2016).
Establishing a presence in Hong Kong and applying for an HR licence is the first stepping-stone to entering the Chinese market. It is more straightforward to have a HK company with an HR licence in place before you set up and apply for the licence in China.
Why use openAeuropeancompany.com?
Understanding local employment legislation, accounting requirements, language barriers and red-tape can often deter businesses from overseas expansion at the outset. At openAeuropeancompany.com our team of professional experts have years of experience and are always available to help guide you through the entire process.
- We provide expert help and advice in setting up your recruitment business in Hong Kong from start to finish
- We will guide you throughout the entire incorporation process
- A unique one-stop solution for all your Hong Kong formation requirements that you can’t find anywhere else
Services we provide include:
- Company formation
- Accounting services and payroll (direct introductions or project managed through our sister company)
- Recruitment license applications
- Physical & Virtual Offices
- Bank introductions
- Immigration & visas
Requirements for setting up a recruitment company in Hong Kong
There are a number of legal requirements that must be fulfilled in order to open your recruitment business in Hong Kong. These are:
- Minimum share capital requirement of HK$10,000
- Minimum number of directors is one (can be non-resident, private person or corporate entity)
- Director/shareholder information is a matter of public record. (Nominees are customary)
- A local company secretary is required
- Requirement to file and prepare accounts only if the company has Hong Kong source income
- The registered name of a company must end with the word “Limited” or “Ltd.” to denote limited liability
- There is no VAT in Hong Kong
Recruitment Licence
According to the Trade and Industry Department in Hong Kong, all companies are required to apply for a business license according to the specifics of its activities.
To set up a recruitment business you will need to apply for an HR license and you will need to demonstrate that you have a physical office and resident director.
What we require to open your recruitment company in Hong Kong
In order to commence with the formation procedure, we will require the following:
- 100% of the company formation cost
- A completed application form (please contact us to receive this)
- A copy of the passport of the company’s beneficial owner and company attorney
- Proof of address (the address stamp in a domestic passport or a copy of a utility bill less than three months old)
Timeframes
A typical incorporation process will take 10 days, allowing 3-5 days for a courier.
Please contact us for more information or for a free consultation on how to expand your recruitment business to Hong Kong.