About Hong Kong
Hong Kong is a small but progressive territory on the southern tip of China, which was administrated as a British colony until 1997. Corporate law in Hong Kong is based on the British Legal System. Hong Kong has a highly active free market economy, an overwhelming proportion of which is tied to international trade.
Hong Kong is considered a leading region for offshore incorporation due to its laws, which limit taxation of the island’s foreign residents and corporations. The People’s Republic of China permits Hong Kong’s autonomous operations and allows for even greater privacy than it had under its past British rulers.
Hong Kong, a Special Administrative Region (SAR) of China, is also one of the leading financial capitals in the world. As such, several of the globe’s leading financial institutions and banks have operations there. Furthermore, it has its own currency, the Hong Kong dollar, so foreigners need not worry about transacting in the devalued Chinese Yuan.
Benefits of Setting up an Offshore Business in Hong Kong
- There is no tax on dividends for a Hong Kong private limited company
- Nominees possible, for anonymity and privacy
- Simple company formation and legal framework
- A Shareholder and a Director minimum
- No need to reside or rent an office in Hong Kong
- No need to employ staff
- Corporate bank account can be located anywhere
- Fast setup, with incorporation of a new company taking roughly 7 working days
- No minimum capital requirement for incorporation
Key Corporate Features
| General | |
| Type of Company | Private Limited |
| Type of Law | Common |
| Shelf company availability | Yes |
| Time to establish a new company | 1 – 5 days |
| Minimum government fees (excluding taxation) | US$295 |
| Corporate Taxation | Nil on Foreign Profits |
| Double Taxation Treaty Access | Yes |
| Share capital or equivalent | |
| Standard currency | HK$ |
| Permitted currencies | Any |
| Minimum paid up share | 1 |
| Usual authorised | Not Applicable |
| Directors | |
| Minimum number | One |
| Local required | No, but at least 1 natural person |
| Publicly accessible records | Yes |
| Location of meetings | Anywhere |
| Members | |
| Minimum number | One |
| Publicly accessible records | Yes |
| Location of meetings | Anywhere |
| Company Secretary | |
| Required | Yes |
| Local or qualified | Local |
| Accounts | |
| Requirements to prepare | Yes |
| Audit requirements | Yes |
| Requirements to file accounts | Yes |
| Publicly accessible accounts | No |
| Other | |
| Requirement to file annual return | Yes |
| Change in domicile permitted | No |
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