Opening a business in Hong Kong as a foreign national requires a different set of skills than the same skills that would be used for an establishment as a local. It is because businesses in Hong Kong are regulated differently, and the laws and regulations that govern such businesses are different from those that govern businesses in other countries. Some of these differences are highlighted below.
Businesses that operate in Hong Kong are subject to the laws of Hong Kong and must conform to those laws to be able to operate lawfully. The requirements to open a business in Hong Kong the business is a company or an individual who is opening a business in Hong Kong as a foreign. If it is a company, then it will have to comply with the Companies Ordinance, the Companies’ Practices Ordinance, the Payment Services Ordinance, the Companies’ Liability Ordinance, and the Companies Transfer Ordinance. If it is an individual, then it may have to conform to the Individual Ordinances that apply to Hong Kong. It will also have to conform to the laws of the territory’s financial jurisdiction, such as the Companies Ordinance and the Companies’ Practices Ordinance.
One way to ensure that the laws in your country are not different from that of Hong Kong is to speak to someone who specializes in the legal system in that country. You will probably find that the person you speak to is familiar with the regulations and statutes in that country and can advise you about the requirements to be fulfilled by a business in Hong Kong. It will help you understand the differences between what a company does in the business environment in Hong Kong and what a company would be required to do in another country.
The other thing that you need to know when you are opening a business in Hong Kong as a foreign national is that some unique regulations apply to companies operating in that country. This policy may be referred to as the “green light” policy, and it was established so that commercial vessels engaged in transhipment of goods will not cause pollution or damage to Hong Kong’s natural resources. Besides, all commercial vessels that are engaged in transhipment of goods in Hong Kong must have a written agreement with the Port Authority that outlines the nature and extent of their commercial activities in Hong Kong.
Another regulation that applies to businesses in Hong Kong is that all people working in Hong Kong must have a work permit. It is called a work permit card, and it is usually only issued after a thorough background check has been conducted on the person seeking the permit. The Work and Housing Department typically conduct these background checks. A work permit is not required for any person working on a business owned by a Hong Kong company, though.
However, the requirements of a Hong Kong company are slightly more complicated and include a requirement that all the employees working for the company must hold a valid identity card and a work permit. It is done because the authorities want to make sure that the people they hire to work in the business are all who they claim they are and that the employees are responsible enough to be trusted with the responsibility of doing the job. It makes the employees feel safe in the business environment while making sure that the business runs smoothly.
The law states that these people must also be able to have a permanent and ongoing residence in Hong Kong for at least two years before they can start working on a business as a foreign resident in Hong Kong.
Finally, any person who must use the services of a Hong Kong dentist must have dental health care. This card is required because the authorities want to be sure that the person will be capable of treating the patients properly. The card also acts as proof of the person’s medical insurance and details about any other medical conditions the person might have so that any claims that come up during treatment can be handled appropriately.