Setting up a business in Hong Kong: the five steps, and the office decision most people get wrong

Setting up a business in Hong Kong takes five things, in this order: incorporate the company, appoint a company secretary, hold a registered office address in Hong Kong, complete business registration with the Inland Revenue Department, and open a corporate bank account. Only then does a physical office matter, and it costs less than most people expect: a coworking desk starts from about HK$1,800 a month, a private or serviced office runs about HK$6,750 per desk in Central, from 1,437 real quotes. Foreign founders can own a Hong Kong company outright, with no residency requirement.

1. Incorporate the company

Hong Kong allows 100% foreign ownership and non-resident directors. You need a name, directors, shareholders and the articles.

2. Appoint a company secretary

Required from day one: a Hong Kong resident individual, or a body corporate with a registered office in Hong Kong.

3. Hold a registered office address

A legal requirement, and a PO box does not qualify. It must be a real Hong Kong address that can receive official notices.

4. Complete business registration

With the Inland Revenue Department, to obtain the Business Registration Certificate.

### 5. Open a corporate bank account

Budget the most time here. Hong Kong banks run heavy due diligence, and your registered address is part of what they assess.

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These are two different things, and conflating them is the most common early mistake.

A registered address satisfies the legal requirement and receives your mail. It does not give you anywhere to sit. A virtual office provides one from around HK$1,200 a month for a full package, less for address-only. A physical office is where your team actually works, and you only need it once you have people to seat.

Plenty of new Hong Kong companies run for months on a registered address alone, then take space when they hire. That is a normal sequence and it saves real money. The catch is that the address you choose affects your bank account: a cheap mass-market address can cost you weeks of banking delay. The tiers, pricing and that bank-account issue are covered in virtual office Hong Kong.

OptionTypical Hong Kong costBest forVirtual office (address)from about HK$1,200 / monthPre-hire, remote, holding companiesCoworking deskfrom about HK$1,800 / month1 to 3 peoplePrivate or serviced officeabout HK$6,750 per desk (Central)2 to 20 peopleTraditional leaseper square foot, 12 to 36 monthsRoughly 20+ people

The private and serviced figures come from 1,437 real quotes prepared for Hong Kong companies since 2025, not advertised rates. More in what a business centre costs and office space in Hong Kong.

If you are relocating an existing business, the sequence is the same with two differences: you will usually incorporate a new Hong Kong entity rather than move the old one, and the bank will look closely at the parent company and the source of funds, so have that documentation ready.

Can a foreigner set up a company in Hong Kong?

Yes. Hong Kong allows 100% foreign ownership and non-resident directors, so you do not need to live in Hong Kong or take a local partner. You do need a Hong Kong registered office address and a company secretary.

Do I need a physical office to register a Hong Kong company?

No. You need a registered office address, which a virtual office can provide from around HK$1,200 a month. A physical office is only needed once you have people to seat.

How long does setting up take?

Incorporation itself can be days. The realistic bottleneck is the corporate bank account, which runs on the bank’s due-diligence timetable.

What is the hardest part?

The bank account. Hong Kong banks run heavy due diligence, and a mass-market registered address can slow or block approval, so choose the address with the bank in mind.

Nextspace is Hong Kong’s free office broker. Tell us your team size and district and we send a list with real prices within 24 hours. We do not incorporate companies, but we can point you to licensed providers who do.

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Related: Virtual office Hong Kong · What a business centre costs · Office space in Hong Kong