Setting Up a Company in Hong Kong: A Vietnamese Entrepreneur’s Success Story
December 28, 2025 · Hong Kong · 12 min read
Setting Up a Company in Hong Kong: A Vietnamese Entrepreneur’s Success Story
As global investment flows shift decisively toward Asia-Pacific, Hong Kong continues to cement its position as a leading financial center. Data from InvestHK and the Companies Registry (CR) point to a marked increase in Vietnamese businesses choosing Hong Kong as a springboard into international markets.
Setting Up a Company in Hong Kong: A Vietnamese Entrepreneur’s Success Story
Why Hong Kong: the background
For N.V.M., an import-export and logistics entrepreneur based in Ho Chi Minh City, the decision to establish a legal entity in Hong Kong in early 2024 was a deliberate one. Drawing on macroeconomic data and the Vietnam–Hong Kong trade agreements promoted by the Vietnam Chamber of Commerce and Industry (VCCI), he identified 3 core advantages:
- A gateway for trade: Hong Kong acts as a “super-connector” between mainland China and the rest of the world.
- An efficient tax system: Under Hong Kong’s territorial source principle, profits sourced outside Hong Kong may fall outside the scope of Hong Kong profits tax. This is a key factor in optimizing cash flow for reinvestment.
- Cultural and legal familiarity: Hong Kong’s transparent common law system gives European and North American counterparties confidence when signing contracts.
Note: Although Hong Kong offers several talent-attraction schemes (such as the Top Talent Pass Scheme), maintaining a company there requires strict compliance with annual financial reporting and audit requirements.
Preparing to set up a company in Hong Kong: documents, capital, and the business plan
To ensure the legal entity is properly established and to avoid being blacklisted by banks, preparation must be meticulous and precise.
- Officers: The company must have at least 1 director (of any nationality) and a company secretary who is either an individual ordinarily resident in Hong Kong or a licensed corporate entity with a registered office or place of business in Hong Kong.
- Share capital: Hong Kong does not impose a high statutory minimum capital, but the company should hold “substantive” capital commensurate with the scale of the business to strengthen its credibility with banks.
- Business plan: This is the single most important document. It should demonstrate cash flow, prospective partners, and a genuine commercial reason for a presence in Hong Kong rather than operating solely from your home country.
Early challenges and how they were overcome
The biggest challenge entrepreneurs typically face, and N.V.M.’s case was no exception, is opening a corporate bank account in Hong Kong.
In late 2024 and throughout 2025, major banks in Hong Kong tightened their due diligence and Know Your Customer (KYC) procedures for anti-money-laundering (AML) purposes. Many applications were rejected or left pending for months with no response.
Practical solutions:
- Prepare proof of business: Provide complete commercial contracts, bills of lading, and invoices from previous dealings with reputable counterparties.
- Use alternative financial services: While waiting for a traditional bank account, the company used reputable fintech accounts licensed in Hong Kong to keep transactions moving and build a clean transaction history.
- Stay transparent: Be completely candid when declaring your source of wealth and the purpose of transactions.
Results: business, residency, and expansion
After more than 18 months in operation, N.V.M.’s business has reached several important milestones:
- Optimized cash flow: Lower foreign exchange conversion costs and lawful use of Hong Kong’s low tax rates have freed up capital to reinvest in growth.
- Stronger brand credibility: A Hong Kong entity has made it easier to access international financing and to sign contracts with demanding counterparties in the EU and North America.
- Greater global mobility: Although the original goal was business, this success has given his family a solid financial footing to consider long-term residency options or a second passport, supporting their children’s education and wealth preservation.
Lessons for other entrepreneurs and investors
This case study on setting up a company in Hong Kong offers 3 strategic lessons for entrepreneurs with global ambitions:
- Compliance is non-negotiable: Do not look for ways to “work around the rules” in a transparent financial environment like Hong Kong. Timely tax filings and audits are mandatory to keep the company in good standing.
- Take a long-term view of residency status: Business success is a stepping stone, but to protect what you have built, investors should have a contingency plan (a “Plan B”) for their family’s residency in countries with strong social welfare systems.
- Diversify risk: Do not put all your eggs in one basket. Holding an entity in a second jurisdiction helps spread geopolitical risk and protect family wealth.
IMM Group: why choose a proven advisory firm?
The global investment and citizenship landscape is constantly changing and increasingly complex. Investors need an advisory partner that not only helps build a strong application but also serves as a reliable anchor for the family’s future. That is why, across all our global investment and citizenship solutions, IMM Group sets itself apart as a strategic advisory partner, working alongside you with experience and integrity.
As a pioneer with more than 21 years of hands-on experience in Vietnam, IMM Group does not act as a sales agent. We do more than advise — we design investment migration solutions built on:
- Rigorous due diligence and risk management: Having successfully handled hundreds of applications, including complex cases, we conduct multi-layered project due diligence and protect investors’ interests rigorously, including during periods of market stress.
- In-depth professional advice and full transparency: Every IMM Group consultant and case manager holds an international investment migration advisory certification issued by the Investment Migration Council (IMC). Our team provides a comprehensive analysis of benefits and risks so you can make decisions based on complete and accurate information. We put our clients’ long-term interests first.
- Integrity and commitment at every stage: Guided by our philosophy, “Serving with Authentic Values,” IMM Group commits to supporting you from the first step until your family is settled. Integrity is our foundation, reflected in our readiness to protect client interests and to proactively refund fees when objective risks beyond the client’s control arise (as set out in the service agreement).
- Giving back: Since 2025, IMM Group has operated as a nonprofit enterprise, committing at least 50% of its annual profits to the Be Better Fund. By choosing IMM Group, you join us in supporting meaningful initiatives and the social responsibility and human values we pursue.
This article provides objective, general information about Hong Kong and its business and residency pathways. The content may not reflect the latest legal changes. To learn more about the investment and citizenship programs IMM Group currently offers, please visit our services page.
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