Formation Company & Tax Advisory

Wednesday, April 25, 2018

Set-Up Hong Kong Company

Hong Kong is an island in South-East Asia which is very close to Taiwan which was under the Government of the United Kingdom until 1997. In July 1997, Hong Kong was waived by the United Kingdom and then issued to China. Hong Kong is the mecca for international trade and its important financial center. Its tax system in based on the principle of taxation on the source, not on the residence. A Company which is based in Hong Kong yet does neither carry out business in this jurisdiction nor get income in Hong Kong, is not taxed in the Country.

Hong Kong is recognized as a Country whereas many Off-Shore Companies benefit from high degree of confidentiality, an effective system of registration and more importantly a very efficient legal system, taken as an example by other Countries to establish - Establishing Hong Kong Companies.

A Hong Kong Company is ideal for:

  • Managing a holding company.
  • International trade.
  • E-commerce.
  • Protecting intellectual property.
  • Managing rights and/or royalties.
  • Protecting real estate and goods.
  • Dealing with the stock exchange and forex.
  • Taking part in other companies.
  • Registering ships and/or boats.
  • Managing succession and inheritance.

Main features of a Hong Kong Company are:

  • Names of members part of the company are detected from the Registry of Businesses.
  • Allowed to protect their privacy through specific means.
  • High degree of anonymity and privacy.
  • Obligation of accounting and tax return must be submitted each year.
  • Both budget and financial accounts are not made public.
  • No mandatory tax on business profits gained outside the Country.
  • Stable jurisdiction with excellent credit.
  • Good media.
  • GMT-8 Time zone.
  • Common Law as its applied Law.
  • Minimum capital to be paid in any currency is 1 USD.
  • Bearers securities are not allowed.
  • The manager and the Shareholder may be the same Individual and/or company.
  • A mandatory secretary.

BBC-LLP offers a first advice for free - First Meeting*.

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