Hong Kong offshore company

General

  Type of entity

Private Limited

  Type of law

Common

  Shelf company availability

Yes

  Our time to establish a new company

1 – 7 days

  Minimum government fees (excluding taxation)

US $320 / US $65

  Corporate Taxation

Nil on Foreign Profits

  Double taxation treaty access

Yes

 Share Capital or Equivalent

  Standard currency

HK $

  Permitted currencies

Any

  Minimum paid up

HK $1

  Usual authorised

HK $10,000

Directors or Managers

  Minimum number

One

  Local required

No

  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

  Requirement to prepare

Yes

  Audit requirements

Yes

  Requirement to file accounts

Yes

  Publicly accessible accounts

No

 Other

  Requirement to file annual return

Yes

  Change in domicile permitted

No

Private Limited by shares Company ( PLC) – Limited Liability Company. If Hong Kong Company performs its business operation out of Hong Kong territory, such company shall completely enjoy tax exemption, if the company operates in Hong Kong, business income tax shall be 16%. Specifying Hong Kong Company as an offshore or non-offshore is impossible. In Hong Kong, shareholders and director registration list is kept secret. Such information is only supplied upon decision of the court. When director or shareholders representing real owner of the company is used, the determination is impossible in reality. Since June 30th, 1997 Hong Kong has been integrated into mainland China and all control pressure of EU and USA have been avoided.

Tax policy in Hong Kong

– Tax on business operation out of Hong Kong territory – 0%

– Tax on passive gains (for example, shifting franchise fee to offshore subsidiary) shall not be exceeded 1.6%, depending on each case.

– Tax on wage fund – 15%, but it may be different

– Tax on business income in Hong Kong territory – 16%. Other taxes may appear (As matter of course, it only refers to business operation in Hong Kong territory). License tax as transferring real estate right (2.75%) and transferring share right (0.3%), etc.

In addition to shortcomings of companies in Hong Kong, another disadvantage is that there is only agreement on double taxation signed with Belgium

Company structure

In order to register company in Hong Kong, it is necessary to have head office registered in Hong Kong area and local secretary (maybe legal entity or individual). Company may have one director and individual or legal entity residing or non-residing. Name of the company must be ended by Limited or LTD.

Document set of PLC after registration

• Business registration

• Company Bylaws, Notarized Bylaws

• The first Meeting Minutes of Director Boards

• Aggregate Power of Attorney and special power of attorney (for account open in the banks).

• Aggregate power of attorney – Notarized

• Shares Certificate for nominal shareholders

• Share transfer note

• Seal

For more information, please contact our hotline +84 911 60 22 44 (Multi line)

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright© AT Express Ltd. All rights reserved.