The Chinese Men's Cosmetic Market: Guangzhou, Hong Kong and ...

https://www.eregistry.gov.hk/icris-ext/apps/por01a/index or by submitting the
appropriate documents and fees at the Hong Kong Companies Registry. The documents
required are an Incorporation Form NC1 (for a company limited by shares); a copy of the
Company’s Memorandum of Association and Articles of Association and a Notice to
Business Registration Office. The fees for incorporating a local company limited by
shares are: an application fee of HK $1,720 and a capital fee of HK $1 for every part of
HK $1,000 of the nominal share capital. A maximum capital fee is set at HK $30,000 per
case. (Invest HK- The Government of the Hong Kong Special Administrative Region)
Exporting directly to Hong Kong involves few risks and is a cost-savvy option.
Exporting is also a valid option for companies wishing to enter the Hong Kong market
since Hong Kong imposes no tariffs on general imports (US Commercial Service).
General trade policies may be found at: http://www.tdc.trade.com/sme/iepract/index.htm.
Distributors will import the cosmetics and distribute them accordingly. Two options for
distribution would include controlled and secondary. Controlled distribution follows the
ordinance of the parent company. They decide where the products will be distributed,
hence giving the parent company control of sales. Secondary distribution is controlled by
the distributor and sales are made from the parent company to the distributor. Secondary
distribution lacks control and may prevent the success of a business attempting to enter
the market (New Zealand Trade and Enterprise).
14
Macau
The procedure for setting up a company in Macau is as follows: the first step is
the application of admissibility of a trade name; the second step is writing the
Memorandum and Articles of Association within 60 days of obtaining a trade name; the
third is the registry of the company within 15 days of signing the memorandum; and the
fourth is the declaration of commencement of operation.
The Commercial Registry Office in Macau (CRCBM) handles the applications for
trade names. The requirements for obtaining a trade name are the required forms with
proposed name and a clear definition of the objectives of the company. The
Memorandum and Articles of Association are submitted through either IPIM’s private
notary, a lawyer registered in Macau, or a document written by the applicant and certified
by a notary. The requirements for this stage are a notary contract or individual contract
confirmed by a public or private notary according to the type of company and legal
requirements in force. The registry of the company is done by the Commercial Registry
Office (CRCBM). Required at this stage are a letter of application with a verified
signature, company constitution document, list of names and shareholders and ID copies,
list of names of the administrative board, letter of appointment of the administrative
board and a copy of the Certificate of Admissibility of Trade Name. Finally, the fourth
step is completed at Macau Finances Services Bureau (DSF). Required at this stage are
an Industrial Tax Form (M1, 2 copies with a verified signature), a list of names of the
shareholders and their ID copies, list of names and the letter of appointment of the
administrative board, a certificate of registration issued by the CRCBM, a copy of the
Memorandum and Articles of Association and payment of the Industrial Tax (Form M7).
(IPIM)