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Offshore Companies

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Hong Kong

Limited Company
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General Info

Procedures to incorporate

Hong Kong is strategically located at the heart of Asia – the gateway to Mainland China for business.
The growth of Hong Kong as an international trade, industrial and financial centre in Asia, and as a gateway to do business in China, has made Hong Kong companies extremely popular, ideal for conducting a broad range of international businesses.

Since Hong Kong is a significant trading economy, a Hong Kong company does not have an offshore or tax haven image.

Key Corporate Features

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HK-Established Legal System: HK has a well-established legal system, which is based on the English legal system.
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Genuine Trading: HK has a lot of genuine trading activities. Therefore, an offshore company with a HK correspondence address will have an advantage over those without a HK correspondence address.
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No Exchange Control: HK has no exchange control. Money can be deposited, withdrawn or transferred out of a HK bank account freely without paying any taxes, including withholding taxes.
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Confidentiality: All banks in HK are under the HK law, not to disclose any customer’s information to anyone without the customer’s prior consent, except if the customer is suspected for money laundry or criminal offence, or the HK Inland Revenue Department suspects that he/she has evaded HK taxes (not taxes in other countries). Further the HK Inland Revenue Department is not allowed by the HK law to disclose any information to anyone, including local or overseas governments.
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Better Communication: We provide mail forwarding service & telephone/fax service (with or without dedicated telephone line & answering in your company name) with all voice/fax messages sent to you by email. A HK company provides a HK telephone number for tape recording of telephone messages and receiving fax at reasonable fees (please see attached sheet). All voice and fax messages will be automatically forwarded to your designated email address.
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Simple Procedures: Formation procedures for offshore companies are simple. There is no need to come to HK for company formation or opening of HK bank accounts, and the bank accounts can be operated at overseas without coming to HK.
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Introduction: Hong Kong is on the southeast coast of China and consists of a large number of islands and a part of the mainland totaling approximately 1,064 sq km. On 1 July 1997 all of Hong Kong reverted from British Control back to China and became a Special Administration Region “SAR” within the People’s Republic of China (PRC).
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Language: The official languages are English and Chinese, with English being used in the commercial and political context and Cantonese Chinese used widely in industry and domestic trade.
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Currency: The Hong Kong Dollar, which is officially pegged to the US Dollar (1 US$ = HK$ 7.74 to HK$ 7.78).
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Exchange Control: None.
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Type of Law: Common Law based on English Common Law.
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Principal Corporate Legislation: Companies Ordinance (Cap 32).

Compliance

+ Type of Company or International Trade and Investment

Private Company limited by Shares.

+ Procedure to incorporate

Submission of Memorandum and Articles of Association and a Declaration of Compliance. A Notice of Situation of Registered Office is also required to be filed within fourteen days of the date of incorporation.

+ Restrictions on Trading

Cannot undertake banking or insurance activities or solicit funds from or sell its shares to the Public.

+ Powers of Company

A Hong Kong Company has all the powers of a natural person.

+ Language of Legislation and Corporate Documents

Chinese and English.

+ Registered Office Required

Yes, must be maintained in Hong Kong.

+ Name Approval Required

It is not possible to reserve a name. It is essential to check that there is no similar or identical name on the register, which would prevent the company being incorporated.

+ Shelf Companies Available

Yes.

+ Time to incorporate

Approximately 8/10 days from the submission of documentation.

+ Name Restrictions

A name that is similar to or identical to an existing company. A name that constitutes a criminal offence or is otherwise contrary to the public interest. A name that implies royal or government patronage.

+ Names Requiring Consent or License

Building society, Chamber of Commerce, co-operative, imperial, Kaifong, mass transit, municipal, royal, savings, tourist association, trust, trustee, underground railway, bank, insurance, assurance, reinsurance, fund management, asset management and investment fund.

+ Suffixes to Denote Limited Liability

Limited.

+ Disclosure of Beneficial Ownership to Authorities

No.

+ Authorised and Issued Share Capital

The standard authorized share capital is HK$ 1,000. The minimum issued capital is two shares of par value.

+ Classes of Shares Permitted

Ordinary shares, preference shares, redeemable shares and shares with or without voting rights.

+ Bearer Shares Permitted

No.

+ Other Shares Permitted

Deferred, founders and management shares.

+ Taxation

Hong Kong is one of the few countries in the world that tax on a territorial basis. Many countries levy tax on a different basis and they tax the world-wide profits of a business, including profits derived from an offshore source. Hong Kong profits tax is ONLY charged on profits derived from a trade, profession or business carried on in Hong Kong. Consequently, this means that a company which carries on a business in Hong Kong, but derives profits from another place, is not required to pay tax in Hong Kong on those profits. Hong Kong sourced income is currently subject to a rate of taxation of 16.5%. There is no tax in Hong Kong on capital gains, dividends and interest earned.

+ Double Taxation Agreements

Under the DTAs, relief from income tax is only available to Hong Kong resident individuals who are not at the same time residents of the contracting countries. In the case of corporations, only Hong Kong incorporated companies and those companies that are managed and controlled in Hong Kong are eligible for relief. Hong Kong has concluded 40 Double Taxation Agreements, providing relief from double tax to all types of income.

+ License Fees

The Business Registration Fee is currently HK$250 on the date of incorporation and then annually on the anniversary of the incorporation.

+ Financial Statement Requirements

A Hong Kong company must keep accounting records for at least 7 years, which may be kept at the registered office address or elsewhere at the discretion of the directors. Every company must appoint an auditor who must be a member of the Hong Kong Institute of Certified Public Accountants and hold a practicing certificate. Although there is no requirement to file accounts with the Registrar, there is a requirement to file accounts with the Hong Kong Inland Revenue Department.

Packages and Prices

Hong Kong

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Standard
Package

The cheapest option company formation, payment government fees, registered office, local registered agent, Client Due Diligence (CDD) full and free tax and legal assistance, and much more, to keep your entity fully compliant.

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Business
Package

A special package with all services as included on the Standard Package, plus our Bank Account opening services with an internationally known financial institution, offering you online banking, multi-currency account, debit cards and all other major banking services you may need.

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Premium
Package

A package with all services as included on the Business Package plus full Nominee Services (Nominee Members and Managers) providing you the highest degree in terms of confidentiality and anonymity.

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How can we help you?

Should you have any question, our Business Development Managers team will be ready to guide and assist you!

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