To form a limited company, 1 or more persons (natural and legal persons) may subscribe to the memorandum of association and submit the memorandum, together with other required documents, to the Companies Registry.
I. Registration of the Company:
1. Choose an intended company name.
2. Check the intended company name:
The applicants must go to the Companies Registry to check whether the intended company name is the same as one already registered. If yes, the intended company name must be changed.
3. Submit required documents:
Registration requires the submission to the Registrar of the following documents:
a) the memorandum of association of the intended company containing:
-the name of the company
- domicile of the company
- the capital of the company
- the signature of at least 2 persons described as 'subscribers' in the presence of a witness who attests the signature
- the number of shares taken up by subscribers
b) the articles of association of the intended company establishing the rules of the company
c) a statutory declaration declaring compliance with the registration requirements of the ordinance
d) a covering letter indicating the name of the company, the presentor's name, contact telephone number, fax number and address
4. Payment of the company registration fees to the Companies Registry
5. Collect certificate of incorporation
Under normal circumstances the certificate of incorporation will be issued in about 6 working days. At this stage a company is basically incorporated. Since the company cannot engage in commercial activities, it is known as a 'shell company'.
II. Business Registration:
A new business must be registered with Business Registration Office of the Inland Revenue Department within one month of its commencement.
1.Submit the required documents: The applicant should submit form 1(b) together with a photocopy of the certificate of incorporation by post or by hand to the Business Registration Office.
2. Pay the business registration fees and levies for insolvency fund and protection of wages to the Inland Revenue Department
3.Collect the business registration certificate: For applications over the counter, the certificate will be issued within 30 minutes of receipt of properly completed application. For applications by post, the certificate will be issued within 2 working days.
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