Individual business households

What is an individual business household?

An individual business household is a type of private enterprise (also known as an individual enterprise). Means an independent business person and responsible for all his business activities.
A sole proprietorship is considered by law to be an independent legal entity that has the right to own and manage assets, conduct economic transactions, collect revenues, pay fees and taxes, and be responsible for debt liability.
Normally, individual business households are usually applied to small and medium-sized enterprises with small business size and few employees.

The individual business household registration process includes the following steps:

Step 1: Prepare the necessary documents

• Business registration application form (according to the form of the business registration agency)
• Copy of ID card or passport of the owner of the individual business household
• Business registration certificate of business registration agent (if any)

Step 2: Fill in the business registration application form

• The owner of an individual business household must provide full personal information, information on business lines, business address, business name, tax code, phone number, email…

Step 3: Submit the application for individual business registration at the business registration office

• The owner of an individual business household shall submit an application for individual business registration at a competent business registration agency.

Step 4: Check and issue business license

• The business registration agency will check the business registration documents of the owner of the individual business household. If the application is eligible, a business license will be issued.
• If the conditions are not met, the business registration agency will report the error and request the owner of the individual business household to supplement or adjust the profile.

Step 5: Register with tax authorities

• After obtaining a business license. The owner of an individual business household needs to register with the tax authority to be granted a tax identification number and fulfill tax obligations.

T&H service only needs you to provide:

• ID card/passport of the owner of the business household;
• ID card/passport of household members participating in capital contribution for HKD registration;
• Information to be established: individual business household name, business lines, capital, head office address…

After completing the individual business registration process. The owner of an individual business household may start a business in accordance with the law.