Although foreigners may start a Hong Kong company from abroad, such is not the case with regard to the opening of a corporate bank account. When such an account is opened, the foreigner is required to go to Hong Kong in person because all of Hong Kong’s banks require all applications to be made in person. Similarly, physical copies of all required documents must be presented to those in charge before the bank account may be opened.
Any foreigner who starts a Hong Kong company may use the services provided by InvestHK to do so. InvestHK is the Hong Kong government’s department which oversees foreign direct investment. It also assists foreign business owners with company setup in Hong Kong. InvestHK does much to make startups owned by foreigners as successful as they can possibly become.
Foreigners are also allowed to serve as directors or shareholders of Hong Kong companies. Hong Kong does not have any laws which forbid foreigners from doing so. During the registration of the company, all foreigners who are to either be directors or shareholders will be required to submit a copy of their passport as well as proof of their residential address abroad for the purposes of verification. These are to be submitted alongside all of the other documents which are usually required during the company registration process in Hong Kong.
Some foreign business owners might be considering owning more than one company based in Hong Kong at the same time. However, they might sometimes be unsure if such a move is permissible according to the business laws of Hong Kong. Such foreigners will thus be pleased to discover that there are no restrictions on how many companies in Hong Kong may be owned by a foreigner. As long as each company has been registered in the proper manner, the foreigner may own and run each company as desired.