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NNC1 Form - Hong Kong Incorporation

NNC1 Form - HK company incorporation

What is NNC1 Form?

NNC1 form is the incorporation form of Hong Kong limited companies.

With the NNC1 form sample in this article, the following steps are for the registration of a Hong Kong private limited company.

Other information on Hong Kong (HK) company incorporation:

Company Name

You will need to specify a name for the Hong Kong company for registration.

  • Propose an English company name.
  • Or you may propose both an English name and a Chinese name (in traditional Chinese language).

Company Type

The company type may be private or public. Under any normal case, you will choose private company.

Company Contact Information

Provide the following contact information for your HK company.

  • Business office address
  • Business email address

Presentor

Fill in the details of the presentor, if there is any.

A presentor is used when the owner/founder of the company is able to collect the Hong Kong certificate of incorporation and/or business certificate (from the Hong Kong Companies Registry). In such case, the information of a presentor must be provided. Once this presentor has been appointed, he/she will be the only person who is given the permission to collect or receive documents on your behalf.

Share Capital

You will have to specify the initial shareholdings of the new Hong Kong company for each of the shareholders, if the company has more than one shareholder.

For example, many companies in Hong Kong started with 10,000 shares (i.e. HK$ 10,000 capital). Some of the companies even use a foreign currency such as US$, GBP, or EUR when specifying share capital. Regardless of the chosen currency, 10,000 shares gives you a good start.

You are not restricted to how many shares the company can have, initially.

In the case when there is only one shareholder (i.e. the founder), this only shareholder gets 100% share capital.

Shareholders

The company should have only one shareholder, if your plan is for you only to own this new HK company.

When the company should have more than one shareholders, it means the particulars (details) of yours and every other shareholders must be provided. Usually, a shareholder in this initial stage should be one of the founding members of the company.

The information include:

  • Names of the shareholders, preferably in English, and may be in both English and Chinese (traditional).
  • Passport numbers and passport country of issue (if the shareholders are foreign persons), or HKID card number (if the shareholders are local HK citizens).
  • Residential addresses – The address may be a local Hong Kong address, or an overseas address. You should not specify a P.O. box address.

Directors

The Hong Kong company must assign at least one director.

Similar to particulars (details) of shareholders, you must provide for each director. The formation that is required for each director includes:

  • Names of the directors, preferably in English, and may be in both English and Chinese (traditional).
  • Passport numbers and passport country of issue (if the directors are foreign persons), or HKID card number (if the directors are local HK citizens).
  • Residential addresses – The address may be a local Hong Kong address, or an overseas address. You should not specify a P.O. box address.

The director may be a natural person, or a body corporate.

When there is only one director in the company, then the director must be a natural person, and cannot be a body corporate.

Company Secretary

You must assign a company secretary when incorporating the Hong Kong company. The company secretary may be an individual natural person with a local HK residential address, or a body corporate with a registered office address in HK.

  • When the director is the sole director in the company, then this director is forbidden to act as the company secretary.
  • When there are more than one directors, then one of the directors can be the company secretary of the HK company.

A common alternative for the founder is to appoint one of the company secretary services in Hong Kong to act this role.

Documents Required for HK Company Formation

Beside the NNC1 form, what other documents are compulsory when setting up a company in HK?

  • Articles of association
  • The notification to the business registration office (IRBR1 form) – In IRBR1, you must specify if a 3-year business certificate is required.

Limited Company by Guarantee? Limited Company by Shares?

Two types of limited company are available for registration in Hong Kong:

  • Limited by shares
  • Limited by guarantee

The NNC1 form is only for the incorporation of a limited company by shares. If your objective is to register a limited company by guarantee, the NNC1G form should be filled in and submitted to the Companies Registry in Hong Kong.

The process to fill out the NNC1G form is very similar to the process of NNC1.

Incorporate Your New Company

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CLIENT TESTIMONIALS

Chris and Bonnie have been an absolute pleasure to work with. They clearly explained the application process, assisted in drafting necessary documents and were always available to address any questions or concerns. We couldn't have asked for better consultants.
Cinar, Karazona (Client)
Cinar, Karazona
Director, Organic Modernism Limited

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