HONG KONG PRIVATE LIMITED COMPANY FORMATIONS

Hong Kong is a former British Dependent Territory which became a Special Administrative Region (SAR) of the People's Republic of China from 1 July 1997 and consists of a large number of islands and a part of the mainland totalling approximately 1,064 sq km. Hong Kong continues to enjoy high autonomy in the running of its affairs under the ‘one country, two systems’ concept. Despite its comparatively small population of more than 7 million, it is one of the top twenty trading economies; the world's third largest financial centre; and vies with Singapore as the largest container port by volume.

 

OUTSTANDING FEATURES:

Advantages

British legal system as background
Tax exempt for income not incurred in HK;
No restriction in fund transfer to and from most part of the world
 

Corporative legislation

Companies Ordinance (Cap 622);

Form of tax-exempted company Private Limited Company;
Authorized business activities All and any activities not prohibited by the law;
Prohibited activities

Cannot undertake banking or insurance activities or solicit funds from or sell its shares to the Public.;

Taxation

Hong Kong profits tax is charged on profits derived from a trade, profession or business carried on in Hong Kong. Consequently, this means that a company which carries on a business in Hong Kong, but derives profits from another place, is not required to pay tax in Hong Kong on those profits. Hong Kong sourced income is currently subject to a rate of taxation of 16.5%. There is no tax in Hong Kong on capital gains, dividends and interest earned.;

Name of company

Any name is the same of existed companies. Any name would constitute a criminal offence or is offensive or otherwise contrary to the public interest. Any name would be likely to give the impression that the company is connected in any way with the Central People's Government or the Government of the HKSAR or any department of either government such as Department, Government, Commission, Bureau, Federation, Council, Authority.;

Minimum paid up capital 1 HK$
Usual authorized capital 10,000 HK$
Shares

Ordinary shares, preference shares, redeemable shares and shares with or without voting rights, subject to the articles of Association;

Shareholders
- Minimum number
- Nominal shareholders
- Holders of trust equities

One (legal or natural entity);
Yes;
Directors
- minimum number
- nationality and citizenship
- status


The minimum number of directors is one, who may be natural persons or bodies corporate, but at least one of them must be a natural person;

Company Records

Company records such as members' records, register of members, register of directors and register of debenture holders, other than accounting records, would require to be kept at least 10 years;

Information at disposal of third party Complete anonymity. Copies of the following documents are information at disposal of third party: statute, constitution agreement of company, evidence of registration;
Documents kept at the registered office

A Hong Kong company must keep accounting records for at least 7 years, which may be kept at the registered office address or elsewhere at the discretion of the directors. Every company must appoint an auditor who must be a member of the Hong Kong Institute of Certified Public Accountants and hold a practicing certificate. ;

Agreements on exemption from double taxation

Austria, Belgium, Brunei, Czech Republic, France, Hungary, Indonesia, Ireland, Japan, Liechtenstein, Luxembourg, Malaysia, Malta, Netherlands, New Zealand, Portugal, Switzerland, Spain, Thailand, United Kingdon, Vietnam and the Mainland China;

Term of incorporation 3 weeks;
Costs of registration of company Look below;
Disclosure of Beneficial Ownership to Authorities No;
Possibility to purchase a ready-made company Yes

 

BASIC REQUIREMENTS FOR HONG KONG PRIVATE LIMITED COMPANIES

    • Minimum 1 Shareholder and Director is required;
    • Directors and Shareholders could be same person
    • No nationality restriction for shareholders and directors
    • Minimum subscribed share capital is 1 HK$
    • Registered address in Hong Kong
    • One company secretary and should either be Hong Kong resident or Hong Kong limited company
    • Company name should not be same at those already in company register and can be only English or only Chinese name or English plus Chinese name

PROCEDURE FOR INCORPORATION

Should you wish to proceed with the incorporation of the company kindly furnish us with details of those who will be acting as the directors and shareholders of the company and furnish us copies of passport particulars of directors/shareholders.

TAX SYSTEM FACTS:

Tax rate is 16.5 %. Generally, profits earned outside Hong Kong are not subject to tax. Tax returns are required to be submitted annually, prepared on a time spent basis.

 

INCORPORATION FEES

For Hong Kong we can offer:

  • Hong Kong Company with corporate set and Apostille:
  • Bank Account with HSBC
  • Nominee Director and Shareholder
  • Nominee Account signatory
  • Total: US$ 8,995

Or, the same as above but with the client as Director, Shareholder and Account Signatory: US$ 6,995. (account via courier service may not always be available)

 

Annually for Hong Kong (excluding accounting and audit)

Where we provide nominees and account signatory: US$ 5,995

Where we do not provide nominees and account signatory: US$ 3,795

 

PLEASE NOTE FEES ARE SUBJECT TO CHANGE

  • Fees may vary depending on exposure, level of activity / technical complexity.
  • Courier fees, bank charges and other disbursements are billed separately.
  • We charge on a time and cost basis for services provided other than matters listed above. This is available on request.

 

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