Micro India Ltd. is in Mobile Manufacturing business, incorporated under the Companies Act. The Company has agreement with Chinese Company for technology support as well as supply of major parts of mobile which are assem

CS Executive · Setting up of Business Entities and Closure · PYQS · December 2024
Micro India Ltd. is in Mobile Manufacturing business, incorporated under the Companies Act. The Company has agreement with Chinese Company for technology support as well as supply of major parts of mobile which are assembled in India. Under this treaty, there is a clause, where the Indian Company needs to setup a business in Hong Kong, China to setup production unit of Mobile Chipset as well as manufacturing of Display Panel. Describe the procedure for incorporation of Company in Hong Kong (China).

Answer & Explanation:

A company name (which may be in English, traditional Chinese both) can be searched online free of charge at the Companies Registry (www.icris.cr.gov.hk) or at the mobile website (www.mobile-cr.gov.hk). When an application is delivered online at the e-Registry, the applicant will be informed of the acceptability of the company name before he/she proceeds with the payment process. If there is no existing Company registered with the name chosen by the applicant, a certification of incorporation and a business registration certificate will be issued upon the filing of an incorporation form signed by the founder member(s) (for companies limited by shares this is a Form NNC 1), a copy of the articles of association and a Notice to Business Registration Office (IRBR 1). The incorporation form contains comprehensive information on the address of the registered office and particulars of the first secretary and first directors of a company. Paper submissions for incorporation normally require approximately four working days for the certificates to be issued (excluding the day of submission of form NNC1). With the implementation of the "e-Registry" in 2011, applicants can now complete the incorporation and business registration process by submitting electronic applications online to the Companies Registry (www.eregistry.gov.hk) or using the mobile application "CR e-Filing". In straight forward cases, this enables registered users to complete the relevant procedures and download the electronic Certificate of Incorporation and Business Registration Certificate in less than a day. According to the performance pledge of the Companies Registry (at www.cr.gov.hk/en/about/performance.htm), the service standard for applications for registration of local companies which are submitted electronically is one hour. At the moment of incorporation, the company will also be automatically registered with the Inland Revenue Department for registration for tax purposes.

Topics: International Business Laws

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