HONG KONG COMPANY
Hong Kong Companies are suitable for:
- Consultants / Counsellors
- International business
- Holding intellectual property rights
- Custody vehicle of movable and immovable property
- Estate planning
- Wealth management
Hong Kong Companies quick facts:
|Company type||Limited Company/Limited by shares|
|Governing corporate legislation||The Hong Kong Company registry is the govering authority and companies are regulated under the Hong Kong Companies Ordinance 1984|
|Information relating to company officers||Upon registration, names of companies officers will appear in the public registry. We usually provide an anonymous holding company for the client in Belize, that acts as both director and shareholder|
|Confidentiality||Hong Kong offers a high level of anonymity and privacy|
Preparation of accounts required.
Accounts are not publicly accessible.
|Taxation||Taxation is based on a territorial system, which effectively means that foreign derived profits are not taxed in Hong Kong.|
|Legislation||Modern offshore legislation|
Capital may be denominated in any currency
|Timeframe||Company formed in 5 days. We can have it done urgently in 24h as well.|
|Stability||Stable jurisdiction with excellent reputation|
|Paid up capital requirement||No paid up capital requirement (1 $)/td>|
|Basis of legal System||Common Law|
|Minimum shareholders / directors||Minimum of 1 Director and 1 Shareholder (Corporate shareholders and directors allowed.)|
|Required documents:||Notarized passport copy, utility bill in original. A bank reference letter or other professional reference letter can be required for some bank account openings. Please contact customer service for details. None of the documentation can be older than 3 months.|
CAUTION: Many others list low fees that do not include what is necessary, our fees are Complete.
Read more about Hong Kong below:
About Hong Kong
Hong Kong Companies
One of Hong Kong’s key advantages is that it isn’t considered to be tax haven since it’s more famous for just being a major financial centre. However, Hong is one of few countries in the world today that taxes on a territorial basis. Most countries tax worldwide profits of a business, which include profits derived from activities outside of the country. Unlike other Asian countries such as Japan, Korea, Thailand, India, and China; Hong Kong does not have any exchange or capital controls and therefore allow funds to move freely in and out of the territory.
Hong Kong profits tax is only charged on profits derived activities carried out in Hong Kong. This means that a company that carries on a business in Hong Kong, but receives all profits from another country, is not required to pay any tax in Hong Kong. Hong Kong sourced income is currently subject to a taxation of 16.5 %. Hong Kong does not tax capital gains, dividends or interest earned.
The factor that determines the actual locality of profits from trading in goods and commodities is generally the place where the contracts for purchase/sale are effected. “Effect” does not only mean where the contracts are legally executed but also covers the negotiation, conclusion, and execution of terms of the contracts. If a business earns commission by securing buyers for products, the activity which gives rise to the commission income is the arrangement of the business to be transacted between the principals. The source of income is where the activities have been performed. If they have been performed in Hong Kong, then they are taxed in Hong Kong, but if the company’s business activities have been performed outside Hong Kong, the profits will be tax-free in Hong Kong. This makes Hong Kong an extremely important vehicle for tax planning within the trading sector.
Hong Kong in Comparison to other Jurisdicitions
Hong Kong is one of the most important jurisdictions for tax planning purposes, as it is not subject to any review by the OECD. It is one of few offshore banking centres that is not subject to EU directive on withholding tax on savings accounts controlled by EU residents (other countries not affected by the directive – Panama and the Seychelles).
With China pushing forward with its modernization and rapidly growing economy, attracting foreign investments, Hong Kong will surely benefit from being internationally recognized as the gateway to China.