How to Set Up a Hong Kong Company Step by Step: From First Call to First Payment
Quick answer: Setting up a Hong Kong company with Woodburn runs in five stages: a first call to agree the structure, signing up and sending your onboarding documents, incorporation in 2–5 working days once the documents are approved, opening an Airwallex business account in typically a few working days, and then going live with ongoing compliance in place. Because one provider handles every stage, there are no handovers to slow things down.
Last updated: November 2026
Most articles about company formation describe the destination: what a Hong Kong company needs. This one describes the journey, from deciding to start a company to taking your first payment through it. For the legal requirements in full, see our guide on how to register a company in Hong Kong.
Below we set out how to set up a Hong Kong company step by step with Woodburn: what happens at each stage, how long it takes and what you need to have ready.
Stage 1: The First Call (Day 1)
Everything starts with a short call. This is where the shape of the company is agreed: the directors, the shareholders, the company name and the business it will carry out. It is also where any complications, such as a corporate shareholder, unusual ownership or a regulated activity, surface early rather than late.
It helps to have the proposed company name, the names of the directors and shareholders, and a short description of the business ready for the call.
Stage 2: Signing Up and Sending Your Documents
When you are ready to go ahead, you sign the engagement letter and pay for the Hong Kong company registration package. We then send an onboarding questionnaire for each company, which collects the details of the directors, shareholders and significant controllers together with their supporting documents.
As a licensed trust and company service provider, Woodburn must complete these know-your-customer checks before incorporating. The quicker the questionnaire and documents come back complete, the quicker the next stage starts.
Stage 3: Incorporation (2–5 Working Days)
Once the documents are approved, we prepare the incorporation form and Articles of Association and file them electronically with the Companies Registry, together with the business registration application. The Registry normally issues the Certificate of Incorporation and Business Registration Certificate within an hour of an electronic filing, so the whole stage usually takes 2–5 working days, depending on any questions from the Registry.
At the end of this stage, the company legally exists, with its registered office and company secretary already in place. You also receive one set of certified copies of the incorporation documents for a bank application.
Stage 4: The Airwallex Account (A Few Working Days)
This is the stage that usually causes delay when it is handled separately. Because the incorporation documents were just produced in-house, they go straight into the Airwallex application. As an Airwallex partner, Woodburn prepares and submits the application, which is completed online with no branch visit and no requirement to be in Hong Kong. Straightforward companies are typically approved within a few working days.
Airwallex is not a bank. Its Hong Kong business account is provided by Airwallex (Hong Kong) Limited, which is licensed as a Money Service Operator by the Hong Kong Customs and Excise Department, and balances are not covered by the Deposit Protection Scheme. Airwallex cannot accept every nationality, country or industry, so check eligibility before you apply.
Traditional Hong Kong banks now expect account enquiries to come directly from the company's directors and shareholders, so a bank account, if you want one as well, is opened by you using the certified copies.
Stage 5: Going Live and Staying Compliant
With the account approved, the company can trade, with multi-currency accounts, local receiving details in major markets and corporate cards. If accounting is part of the engagement, the account is connected to Xero at this point, so the books are clean from the very first transaction.
From there, the same team that formed the company keeps it compliant: the annual return, Business Registration renewal, the significant controllers register, accounting, payroll and the profits tax return. See how to maintain a Hong Kong company after incorporation.
Why Is It Faster Through One Provider?
Delays in company formation almost always happen at the handovers: from the incorporation agent to the bank, from the bank to the accountant. When a single team handles incorporation, the business account and ongoing compliance, those handovers disappear, and nothing falls between two providers.
Set Up a Hong Kong Company Step by Step: The Timeline at a Glance
Stage | What happens | Typical time |
1. First call | Agree the structure, name and plan | Day 1 |
2. Sign-up and onboarding | Engagement letter, payment, questionnaire and documents | Depends on how quickly the documents are sent |
3. Incorporation | Filing, certificates, registered office and company secretary | 2–5 working days once the documents are approved |
4. Business account | Airwallex application, completed online | Typically a few working days |
5. Going live | Trading, accounting set-up and ongoing compliance | From the first transaction |
The package costs HKD 4,500 all-in for the first year. From the second year, the registered office and company secretary renew at HKD 7,000 a year; see our Hong Kong fee structure for all ongoing fees.
Frequently Asked Questions
How long does it take to set up a Hong Kong company with Woodburn?
Incorporation takes 2–5 working days once your onboarding documents are received and approved. The Airwallex business account typically follows within a few working days, subject to Airwallex's approval.
How much does it cost?
Woodburn's package is HKD 4,500 all-in for the first year, covering incorporation, the registered office and company secretary, and setting up the business account. From the second year, the registered office and company secretary renew at HKD 7,000 a year.
Do directors need to visit Hong Kong?
No. The company is registered remotely, and the Airwallex application, including identity checks, is completed online with no requirement to be in Hong Kong.
Can Woodburn open a traditional bank account for my company?
Woodburn can no longer introduce companies to traditional Hong Kong banks, which now expect enquiries directly from the directors and shareholders. The package includes one set of certified copies of the incorporation documents to support your own bank application.
What happens after incorporation?
The company must keep its registered office and company secretary in place, maintain proper records and its significant controllers register, file an annual return, renew its Business Registration and file audited accounts with its profits tax return.
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Stage 1 is a 30-minute call. We handle the rest. Bring your company name and shareholders, and leave with a plan and a start date. Book your free 30-minute consultation → Or call Hong Kong +852 3978 0300 · Shanghai +86 21 5116 2893 |
About Woodburn Accountants & Advisors
Woodburn Accountants & Advisors helps international businesses set up and run companies in mainland China and Hong Kong. With more than 30 years’ experience and offices in Shanghai and Hong Kong, our team of chartered company secretaries, certified public accountants and tax specialists has guided hundreds of foreign companies, from first-time market entrants to established multinationals, through company registration, accounting, tax, payroll and annual compliance. We combine large-firm expertise with boutique responsiveness.
Our Hong Kong services: Hong Kong Company Registration · Company Secretary · Registered Office Address · Cloud Accounting & Financial Reporting · Cloud Payroll · Tax & Audit · Employer of Record · Trademark Registration
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