Overview of Location
Hong Kong, a special administrative region of China, has earned a reputation as a premier financial and business hub in Asia. Hong Kong boasts around 120 licensed banks and more than 100 foreign banks with representative offices.
Usually, Hong Kong is not classified as an offshore territory. However, it is a unique case where taxes are collected on a territorial basis. In comparison to other Asian countries, Hong Kong has non-restricted funds flow and capital gains controls. Unless the HK Limited company does not perform its activity within the jurisdiction of Hong Kong, it will be totally tax exempted with revenue recognition based on the place of performance. If this criterion is not met, then HK limited company will have a 16% CIT on its income gained. It is important to note that profits derived from trade, business, or transactions carried out in Hong Kong are subject to taxation only.
All Hong Kong limited companies, whether operating locally or offshore, are governed and regulated by the same legislation, the Hong Kong Company Ordinance. Additionally, Hong Kong is a signatory of The Hague Convention on Apostille, which means that documents requiring legal effect in Hong Kong do not need to be legalized. Only the issuance of an Apostille certificate is necessary for document authentication.
Setting up a limited company in Hong Kong will bring a number of benefits for such business expansion as tax exemption, adequate reporting requirements, stable legal and economic systems that are granted for the locally based companies.
Required Documents
List of files necessary for setup.
- Certified copy of your passport (hard copy);
- Certified copy of your utility bill (hard copy);
- Original application form.
Features and Benefits
Peculiarities associated exactly with this jurisdiction.
- Annual maintenance (renewal) of company and submission of accounts;
- Annual accounts and audit;
- Apostilled and notarised documents and certificates;
- Maintenance and annual review of UBO register.
Formation package includes:
- Our genuine daily support;
- Completely ready-to-use company;
- Name availability check and reservation;
- Local licensed registered secretary;
- 1-year Local registered address, Virtual office address, company secretary and all government fees;
- Set of corporate documents.
Formation Steps
Define your business activities and choose a name that suits your brand.
Name check and reservation. Preparation of the KYC (Know-Your-Customers) and other due diligence files.
Registering an entity with the local registry. Acquisition of the corporate files.
Corporate accounts opening.
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