3 Criteria in Choosing a Registered Address
It is an absolute necessity to have a registered office address for your company according to the Hong Kong company law. The address must be in Hong Kong only which means it is illegal to use any places outside of Hong Kong as your company’s registered office address. Additionally, you may only use one location for your company’s address. If you need more than one business address, you will need to apply for a Branch Office Business Registration Certificate. Keep in mind that if you decide to change your company’s address in the future, you must notify the Hong Kong Companies Registry within 15 days. Failure to do so can result in a penalty to everyone responsible for the company. This article gives you all the details you need to better understand the geography of Hong Kong so you can choose the right location for your company’s address.
Hong Kong Island
The prime business districts in Hong Kong are mostly in the Hong Kong Island area, in particular, places such as Sheung Wan, Central, Wan Chai and Admiralty combined are considered as the financial hub. It is important to choose a suitable location for your company’s address if you intend to present a reputable and professional image to your customers. Although Hong Kong is a relatively small city compared with New York or London, it still has a decent area size that is dissected into 18 sub-districts. It is recommended that when choosing an address, either physical or virtual, you should be aware of the differences between each district. Most of the multi-national conglomerates are incorporated in Hong Kong Island where rents are amongst some of the highest in the world.
Kowloon
Other than Hong Kong Island, there is also Kowloon and New Territories. In terms of Kowloon, there are less commercial areas besides Tsim Sha Tsui, Mong Kok and Kwun Tong. Rents in Kowloon are comparably lower than the main business districts in Hong Kong Island but not by much. Tsim Sha Tsui and Mong Kok are amongst the busiest places in Kowloon in terms of commercial areas, many companies set up their offices there. However, there are many sub districts in Kowloon such as Prince Edward, Jordan and Sham Shui Po. Keep in mind that if you select Kowloon as your registered office address, make sure you choose a suitable location for your company because all the sub districts are extremely close to each other. Although Prince Edward and Jordan are close to Mongkok and Tsim Sha Tsui respectively, they still make quite a difference in terms of reflecting on people’s perception upon the company’s image.
New Territories
In regard to New Territories, it has the largest area size out of the three major districts as it consists of mountainous terrain and rural areas. Many companies choose to set up their back office in sub districts in the New Territories due to cheaper rent with a large space. Some popular places to set up offices in the New Territories are industrial districts like Tsuen Wan, Tuen Mun and Sha Tin where rents are affordable.
We hope this article helps you understand some basic knowledge of Hong Kong’s geography! If you have further questions or would like to form a company with us, please do not hesitate to contact us via email at info@cheapincorp.com or message us at +852 5404 0902 on WhatsApp.