As a Hong Kong business owner, receiving a “Green Box” is a hallmark on the journey toward entrepreneurship. Why? Because when you finally receive that iconic Green Box, you know that you have been handed the keys and roadmap to your business’s future. Understanding what a Green Box is and how it pertains to your company, is a vital part of the process of beginning your new business in Hong Kong.
Learn more about the Green Box – and how you can obtain one for your Hong Kong business – below:
1. What Is A Green Box?
In Hong Kong, a Green Box – also known as a “Company Kit” – is a box of materials that accompanies your incorporation and business registration. Inside, you will find a variety of documents and articles pertaining to your business – many of which are necessary for conducting legal operations in Hong Kong and elsewhere.
2. What Is Included In A Green Box?
Depending on the way you register your business and the service you utilize, the content of your Green Box may vary in scope. However, nearly every Green Box will contain physical documentation relating to your newly registered business.
Of the documents and items you can expect to find in a Green Box are the following:
- Article of Association
- Statutory book
- Share Certificates
- Certificate of Incorporation
- Business Registration Certificate
- Company Chops
Not only are each of the items contained in a Green Box essential to your business’s legal standing and registration, but many – such as the company chops – are required to keep on hand and available for legal financial transactions. Always ensure that your Green Box is in capable hands.
3. How Do I Apply For A Green Box?
In order to receive a Green Box for your company, you must follow the general procedures for incorporation and business registration with the Inland Revenue Department (IRD). As part of your registration, many registration services will prepare a Green Box for you to pick up or have delivered. Many require a fee for printing documents, creating chops, and shipping the Green Box.
4. Is A Green Box Required For My Company?
In today’s digital-first economy, a physical Green Box is no longer required for operating as a business. However, the articles that are included in a Green Box must still be applied for and filed in order for your company to do business legally in Hong Kong.
In most cases, the documentation that would be included in a Green Box will be made available online in digital formats. This can help you access your legal documents from anywhere in the world with secure access. However, you will likely desire to have a Green Box as a way to manage and transport your company chops.
5. What Happens To My Green Box If I Close My Company?
Should you decide to close down your company, you may be required to turn in your Green Box depending on the practices of the service by which you receive your documents and chops. However, once your business is closed, it will become illegal for you to conduct business using any of the Green Box contents.
6. How Fastlane Can Help You Recieve Your Company Green Box?
Our incorporation team has years of experience in helping Hong Kong businesses set up and prepare for the day-to-day of their business operations – including how to apply for and receive a Green Box.
To learn more, contact our team for more information today.