Hong Kong Company Share Capital: Minimum and No Par Value

No par value

• All shares of a Hong Kong company with share capital are deemed to have no nominal value since 3 March 2014. No conversion step was needed.
• The company reports total issued share capital, not an "authorised" ceiling.

How much to issue

• The Ordinance does not set a minimum. A company can be formed with a very small amount.
• Practical factors: working capital needs, what the bank or landlord expects, how ownership will be split, and whether you will bring in investors.
• Shares can be issued fully paid, or partly paid (shareholders then owe the unpaid balance on request).

Documents

• On incorporation, founders' shares are stated in Form NNC1; no Form NSC1 is needed for those initial shares.
• Later issues are reported on Form NSC1 with a statement of capital within one month.

What happens to money paid above the share price Money paid above a nominal amount is recorded within share capital, because the old share premium account no longer exists as a separate legal concept.

Must the capital be deposited in a bank? Capital issued is not necessarily deposited in the bank on formation; proof of funds is a banking question rather than a Registry requirement.