Creating your company requires the completion of a number of legal and administrative formalities. Attention, depending on the status you choose, the formalities may vary.
The steps in creating a company are as follows:
- draft the statutes;
- publish a legal announcement;
- deposit the share capital with the bank;
- sign the statutes;
- register the company.
Drafting of the company’s articles of association
The drafting of the articles of association of a company requires special care. Indeed, they are the ones who will govern and supervise the entire functioning of society, including decision-making.
Publication of a legal announcement
At a minimum, the legal announcement must indicate:
- the name of the company;
- the legal form chosen;
- the amount of share capital;
- the corporate purpose of the company;
- the identity of the manager (surname, first name, address);
- the life of the company;
- the address of the head office;
- the registry of the competent court for the company registration in Hong Kong in the Trade and Companies Register.
Deposit of share capital to the bank
You must open a professional account in the name of your company to deposit the funds that will constitute your share capital.
A certificate of deposit of funds will then be issued to you. It will be requested when you apply for registration.
Signature of the statutes
When signing the articles of association, you will be able to regularize all the commitments you have made on behalf of the company in the training phase (creation costs, signing a lease for a premises, etc.).
However, transactions carried out more than three months before the opening of the company are more difficult to take over the company’s account. The tax administration may question this deduction of charges. In addition, it is imperative to keep all proof of payment, and to be able to justify usefulness for society.
Registration of the company
To register your company, and in case of company name registration, you must send a complete file to the registry of the competent commercial court. The file must include a number of documents, including a cheque to pay registry fees that vary according to the form of company chosen.
What to do after the creation of your company?
Now that you know how to open a company, you should see the actions you still have to take to ensure its proper development.
Post-company creation formalities
Once your file has been sent to the registry and your company registered, you can obtain a KBIS online, i.e. the company’s “identity card”.
Then, depending on the nature of your activity, some post-business creation formalities with the Chamber of Commerce and Industry or the Chamber of Trades and Crafts will still be necessary. For example, certain regulations must be respected to open a restaurant or bar.
In addition, think that once your company is registered, you can make a contribution in the current account of a partner. This is an alternative to the contribution to the company’s share capital.
Finally, in order to take your project to the next level, it is quite possible to raise funds. However, such an approach must be carefully prepared.
The launch of communication
Opening a company is not enough to succeed. Indeed, communicating about your project is an essential element for entrepreneurial success. You can create multiple communication channels such as using social networks, print and online press or creating a website.