Run Your Business in Hong Kong With The Right Licenses and Permits | Article – HSBC VisionGo

Insight as to what are the most common Hong Kong business licenses, who needs to apply, and what are the prerequisites that must be met.

Many entrepreneurs assume that once they have completed the Hong Kong company formation process that they have essentially finished setting up their Hong Kong company. Unfortunately, this is not necessarily true as many Hong Kong companies require various business licenses to operate. In this article, we look to provide insight as to what are the most common Hong Kong business licenses, who needs to apply, and what are the prerequisites that must be met.


1. Education Business

Hong Kong has an extensive education industry. The Hong Kong government recognises institutions, organisations or establishments that provide formal education including courses for 20 or more persons during any one day, or 8 or more persons at any one time to be businesses operating in this field. Individuals who wish to establish any of the above must obtain a Certificate of Registration of School from the Hong Kong Education Bureau.

Who Needs to Apply

 Pre-requisites


2. Travel Agency

In Hong Kong, the term “travel agency” refers to any company (or individual) that organises services related to travels and tours. Parties who engage in these services must obtain a Travel Agent’s License.

 Who Needs to Apply

 Pre-requisites


3. Employment Agency

The Hong Kong Government defines employment agencies as companies that aim to obtain employment for another person or is supplying personnel to an employer. These companies can engage in the employment of both local, and non-local candidates for positions of all seniority.

 Who Needs to Apply

 Pre-requisites


4. Restaurants / Bars

Given the size of Hong Kong’s F&B industry, many who are setting up a Hong Kong company are looking to register a restaurant or bar. Due to the variety of F&B establishments, there are a range of applicable business licenses one can apply for, such as a Liquor License, Bakery License or even Karaoke Establishment Permit. However, a General Restaurant License from the Food and Environmental Hygiene Department is the most common

 

Who Needs to Apply

 

Pre-requisites


5. Financial Services

Hong Kong has consistently been recognised as a leading financial services centre in Asia. The city has strong company laws and is widely connected with various international finance hubs across the world. As such, many of the world’s largest financial services organisations have a presence in the city.

 Who Needs to Apply

1. Dealing in securities

2. Dealing in futures contracts

3. Leveraged foreign exchange trading

4. Advising on securities

5. Advising on futures contracts

6. Advising on corporate finance

7. Providing automated trading services

8. Securities margin financing

9. Asset management services

Pre-requisites

Applicants must satisfy the “fit and proper criteria” set out by the SFC


6. Event Management

Hong Kong’s infrastructure and close proximity to other countries makes the city a popular destination for international events. Hong Kong is constantly hosting a variety of entertainment events, in addition to a plethora of corporate and commercial minded events. 

 As there are a variety of events that can be hosted, companies may find that they are required to obtain a wide array of business licenses, ranging from Place of Public Entertainment License, Trade Promotion Competition LIcense and so on. However, the general guidelines still apply.

 Who Needs to Apply

 Pre-requisites


7. Retail

Much like other licenses, there is no general license that is applicable for all companies who operate under this scope. Licensing requirements for retail shops vary depending on the nature of goods and services sold. For example, retail stores that engage in the sale of pets or pharmaceuticals require specific licenses. However, general guidelines can be applied.

 Who Needs to Apply

 Pre-requisites


8. Trading

Hong Kong’s lack of tariffs on the import or export of goods makes the city an ideal destination for trading companies who are engaged in import/export services. While the business licenses related to trading vary and are dependent on the goods being traded (e.g., controlled chemicals or pharmaceuticals), the applicability of these licenses and the prerequisites remain consistent.

 Who Needs to Apply

 Pre-requisites


Conclusion

The FastLane Group is a licensed Hong Kong company secretary. We understand the statutory obligations that govern how Hong Kong companies can act and operate and have assisted clients from all industries in Hong Kong company registration. Please contact the FastLane Group for your enquiries regarding how we can help you manage a company.

This article originated on https://fastlanepro.hk/business-license-permits/