Guide to starting a Sole Proprietorship in Hong KongPosted by HongKong Company Registration on March 16th, 2022 Registering a sole proprietorship business in Hong Kong is ideal if you intend to run a small business on your own (self employed Hong Kong) with no other employees. Sole proprietorships in Hong Kong differ from Private Limited Companies in Hong Kong because with sole proprietorship Hong Kong, there is no protection when it comes to your personal assets and limited liability. Other factors that must be kept in mind when register sole proprietorship in Hong Kong is that it is often difficult to raise capital with this business entity. Some investors may be hesitant to invest with Hong Kong sole proprietorships registration business because it is viewed as a non-corporate entity. Should you feel that registering a sole proprietorship Hong Kong (self employed Hong Kong) is the way forward for you, this guide will provide an insight into everything you need to know before getting started. Registering a sole proprietorship in Hong KongIn Hong Kong, the process of registering a sole proprietorship is relatively straightforward and reliable. All sole proprietors are required by law to register their company at the Business registration office at the Inland Revenue Department to receive a certificate for the business registration. If at some point, you change some of the particulars of your sole proprietorship, you will also need to notify the Inland Revenue Department of these changes within one month from the time the changes were made. If you choose to operate more than one sole proprietorship in Hong Kong, each business will be required to have its unique business name and its own Business Registration Certificate. Depending on the validity of the business license you will have taken out for your sole proprietorship, you will be required to renew your Business Registration Certificate one month before the date of expiry. Once you have registered your sole proprietorship, your Business registration certificate will contain a registration number you will use to file your taxes. You will also need to select and identify an appropriate business name for your sole proprietorship. After you have selected your business name, you will then be able to apply for registration. Once you have submitted the appropriate documentation, it should generally take one day to be issued with your business registration certificate. Required documents for registration of your sole proprietorshipTo register your sole proprietorship business, here is a list of the documents that will be required in Hong Kong:
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