Register your Business in Hong Kong & Singapore

Registering your business can be complicated, but it doesn’t have to be! Sleek has partnered with Payoneer to discuss about the process of business registration in Singapore and Hong Kong, as well the key differences of setting up in both markets, to make your incorporation journey smoother. Keep on reading to find out key questions discussed during the webinar, as well as a video recap of the event.

What are the required documents to prepare to register a business in both Singapore and Hong Kong?

Singapore Hong Kong
Business Requirements:
  • Local Resident Director
  • At least 1 shareholder
  • Capital structure of at least SGD$1
  • Company Secretary
  • Registered Business Address in Singapore
Business Details:
  • Company name
  • Brief description of activities & SSIC Code
  • Details of shareholders and KYC information
  • Details of directors and KYC information
  • Registered Singaporean business address
  • Share capital details
  • Company’s constitution
Business Requirements:
  • Local Resident Director
  • At least 1 shareholder
  • Capital structure of at least HKD$1
Business Details:
  • Proposed company name
  • HK Registered Address
  • Application Forms:
  • Incorporation forms:
    • NNC1 with IRBR1
    • Article of Association

What are the expected annual running costs of maintaining the company entity in Singapore and Hong Kong?

This is ultimately dependent on the number of your shareholders and accounting expenses for your business. In Singapore, you can expect up to S$3.5k for the first year of setting up and compliance whereas for Hong Kong, it would be from HK$2000 for a one-time incorporation fee. To get a pricing accurate for your needs, check out our dedicated pricing scale at sleek.com!

How much capital does a business need to raise before starting a company?

There is no set amount of capital needed as long as you adhere to the minimum amount of HKD$1/SGD$1 for a company. Any other additional cost will be forecasted by you based on how you wish to run your company. For instance, the costs of setting up an entity, website building or setting up company bank account.

Would the Hong Kong Chinese name reflects in its certification of incorporation?

A Hong Kong business may have both a Cantonese and English name. If applicable to your company, both names will be reflected in official records.

Would Sleek help to get a local resident director in Singapore?

Yes! Sleek makes it easier for businesses to operate by appointing a local resident director so that you are compliant with government regulations – managed by our dedicated Customer Success team.

Without anyone stationed in Singapore and Hong Kong, would it still be efficient to register a company there?

Absolutely! Sleek handles a fast-growing community of clients from all over the world that is ever-growing. Our seamless online onboarding process makes setting up a business in Singapore and Hong Kong as efficient as being physically in the countries yourself.

Finance and digital businesses are known to be very successful in Hong Kong. Does Sleek incorporate companies that are in the Arts industry?

Yes! Sleek has assisted companies that runs digital and offline art through e-commerce. If you have an idea and you want to start a business, you can! Build up your online presence through e-commerce platforms like Shopify or Amazon after your incoporation and you’re good to go.

Have you noticed any specific trends in industries or countries setting up in Singapore and Hong Kong?

We’ve seen an increase in E-commerce businesses wanting to setting up due to the shift in online demand caused by the COVID-19 pandemic. Sleek presents as a great option to seize this opportunity and take your business online!

Curious to find out more?

Gain some further insights in a recap of our webinar down below! Whether you’re an existing local company wanting to digitise or an overseas company looking to incorporate, Sleek is here for you. Watch the video here. Reach out to us for find out more for your business needs!

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