Do you Wish to Start a New Business in HK? Hire a Consultant...

Starting a new business is certainly not an easy decision, and comes with its own set of advantages and disadvantages. However, by utilizing a consulting service in Hong Kong, it becomes easier to decide whether to start a new business or not. Once you have decided to start a new business, there is all the possibility that you ignore the need for licenses and permits. If you fail to take care of this aspect right from the beginning, it may lead to various unprecedented issues.

You need to contact your state’s business license department to find out about getting a business license; The procedure for companies licensing and companies registry Hong Kong allows you to operate in an area. Many areas ask for a conditional-use permit in order to operate.

The best part is that there are various consulting services in Hong Kong that offer complete assistance in licensing, advisory, audit or monitoring, and likewise. For instance, if you wish to start a new business at home, such a consultancy can help you with the Business license, Company Registry, Fire Department Permit, Sign Permit, State Licenses, Federal licenses, Health Department licenses, and likewise. Also, it can help you with your business structure (sole trader; partnership; or company). It can help you in finalizing the most suitable name for your business (a name that is not in use). All in all, it helps you define a vision and set a goal for your business, and leaves no stone unturned to kick start your business...

The requisites to get a non permanent license from SFC Hong Kong

If a company that is established and is run on foreign investments does not have any business associates in Hong Kong and is looking forward to continue SFC controlled activities in the city for a short-term, it will be required to apply for a non-permanent license from the Companies Registry Hong Kong. A non permanent license holder may only continue to deal in one or a set of the activities mentioned below.

1. Type 1 - trade in securities
2. Type 2 - trade in upcoming contracts
3. Type 4 - giving counseling on securities
4. Type 5 - giving counseling on future and upcoming contracts
5. Type 6 - giving counseling on corporate finance

The non permanent license holder is also prohibited from keeping client assets while pursuing the above mentioned activities. Another requisite for applying non permanent license is that the applicant enterprise or organization must have their business registered in Hong Kong. This implies that the applicant party must set up an official branch of their organization or an auxiliary company in Hong Kong. A representative office cannot fulfill this requisite for the application of temporary license as it cannot manage or carry out any business activity on its own in Hong Kong.