Hong Kong company formation (Ltd) (Hong Kong S.A.R. offshore) can offer a lot of benefits to non-residents in Hong Kong wishing to do business abroad. Legal activities of such companies are not restricted and can operate anywhere in the world.
Main advantages of company registration in Hong Kong in the form of a limited liability company Hong Kong offshore:
- An internationally recognized business and financial center (Hong Kong S.A.R. is still the leading financial center of the world) with an excellent reputation-does not appear in most of “black lists”
- There are no taxes in Hong Kong, provided that the company does not trade in Hong Kong. I.e. opening a Hong Kong company, you get an Offshore in the classical sense.
- A unique tool for entering the Chinese market, Hong Kong S.A.R. Offshore is used as the founder of the Chinese company that significantly simplifies the complex process of companies’ registration in China.
- Signed double taxation treaties with many countries.
- High confidentiality, provided that nominee directors and owners are used, that is permissible by the law.
- The ability to open a bank account in Hong Kong for an Offshore
Hong Kong Offshore features:
Minimum share capital when registering company in Hong Kong-HK $1, but it is not necessary to pay, because of that it is unnecessary to open an account in Hong Kong. Minimum number of Directors for company registration in Hong Kong-one (can be non-resident; both physical and legal entity). Information about company’s Director/Party is public (if a public information in register is not desirable, it is possible to use services of nominee directors). Local Corporate Secretary is required in order to open a company in Hong Kong (service included)Requires the filing of annual financial report, certified by the Auditor in Hong Kong. When starting a company in Hong Kong, the official company’s name should end after the word “Limited” or “Ltd.” to denote limited liability.
Offshore company registration in Hong Kong:
- Founders of Hong Kong offshore can be any natural or legal persons.
- Company’s registration in Hong Kong will take a couple of weeks that will be used to collect all the necessary data from the customer, company’s name verification, registration procedure itself. Full package of documents arrival terms are usually about four weeks from the date of order, because in most cases, if the bank account cannot be opened in Hong Kong then we need to legalize the documents with the Apostille. Company’s registration term in Hong Kong can be markedly reduced by selecting one of the ready-made companies that have already been registered previously for the purpose of resale
Necessary documents for the registration of the company in Hong Kong (Hong Kong offshore)
- A Copy of the passport of the beneficiary (the company owner).
- Information on the place of residence of the beneficiary.
- Information on activities
How to open a company in Hong Kong?
In order to open a company in Hong Kong, which can be used as an offshore, local Secretary and addresses are required, because of this the process takes place with the participation of the local agent. Our company specializes in companies’ registration and assistance in opening bank accounts. By choosing the cooperation with us clients appreciate the special attitude, professionalism and performance.
Country’s geography & information in brief: Hong Kong is a specific administrative region in People’s Republic of China, former British colony, which date of lease expired at the end of the 90-ies of the last century. National currency – Hong Kong dollar. Population is about 6,5 million people.
Entity type: Private company limited by shares
Directors: Minimum number – one. Directors may be private or legal persons, residents of any country.
Shareholders: minimum number – one. Shareholders may be private or legal persons, residents of any country.
Secretary: Minimum number – one. The director can’t be a secretary, if he is the sole director. May be private or legal persons, residents of Hong Kong.
Authorized capital: Standard declared capital is of 10 000 HKD (approx. 1300 USD).
Names’ restrictions: name shall end with “Limited” or “Ltd”. Names containing such words as Asset Management/Manager, Bank/Banking, Broker/Brokerage, Capital, Credit, Currency, Custodian/Custody, Dealer/Dealing, Deposit, Derivative, Exchange, Fiduciary, Finance/Financial, Fund, Future, Insurance, Lending/Loan/Lender, Option, Pension, Portfolio, Reserves, Savings, Security, Stock, Trust/Trustee & their derivatives are not allowed without special consent.
Requirements: company must have a registered address & registered agent in Hong Kong.
Information about the beneficiary: the register of directors & shareholders in Hong Kong is public. Information about the beneficial owner may be provided only to the registered agent & are kept private.
Audit & financial reports: it’s necessary to keep books, prepare & file annual return, financial statements.
Taxation: taxation rate of income received abroad is 0%. Profits gained on the territory of Hong Kong are liable to 16,5% tax rate.
Taxation: for detailed information about taxes & fees please visit Inland revenue of Hong Kong government web-site.
Additional information: Companies are due to file annual report containing information about its subscribers, directors & some other data to the Companies House. A local licensed accountant, subject to the local audit laws, is to audit accountant documents when preparing an active report.
If a company carries out its business in Hong Kong it is liable to 16,5 % tax rate.