Hong Kong

GENERAL INFORMATION

Total area - 1,104 sq km
Population - 7,347,000
Political status - Administrative district of China
Official language - Chinese, English
Official currency - Hong Kong Dollar (HKD)
Time zone - GMT +8

 

Basic Information
1. Political Stability1. Good
2. British Based Legal System2.Yes
3. Type of Company3. Ltd
4. Migration of Domicile Permitted4. No
5. Tax by Jurisdiction on Offshore Profits5. Nil
Corporate Requirements
1. Minimum Number of Shareholders
1. One
2. Minimum Number of Directors
2. One
3. Corporate Directors Permitted
3. Yes (*N)
4. Secretary Required
4. Yes (*F)
5. Standard Authorised Capital / Shares
5. HKD 10,000 (1 HKD paid)
6. Bearer Shares Permitted6. No
Local Requirements​
1. Registered Office/ Registered Agent
1. Yes
2. Company Secretary
2. Yes
3. Local Directors
3. No
4. Local Meetings
4. No
Due Diligence / Disclosure
1. Due Diligence Required
1. No
2. Disclosure of Beneficial Owner on Public File
2. No (*BA)
3. Government Filing of Register of Directors/Secretary
3. Yes
4. Government Filing of Register of Shareholders
4. Yes
Annual Requirements
1. Annual Return
1. Yes
2. Audited Accounts
2. Yes
Shelf Companies AvailableNo
Days to Incorporate Companies on Request (Approx.)5-7
Tax Treaties AccessYes*

* - Hong Kong companies that do not carry on commercial operations in Hong Kong, are not regarded as resident for tax purposes in Hong Kong, and therefore are not entitled to take advantages of Double Tax treaties concluded by Hong Kong with other countries.

*BA – Only to Registered Agent

*N – At least one director must be a natural person

*F – Restrictions exist for the same person to act as director/shareholder/secretary

 

Notes:

  • One of the advantages for companies incorporated in Hong Kong is that their tax-exempt status is not apparent to third parties. The foundation documents of non-resident Hong Kong companies do not differ in any particular way from those of resident companies which are subject to a standard rate of tax of 16,5%. The privileged status of non-resident Hong Kong companies is based exclusively on the territorial system of taxation of income. Due to this, companies incorporated in Hong Kong are highly rated by entrepreneurs despite the higher registration expenses associated with them.

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