Hong Kong Special Administrative Region of the People's Republic of China is an autonomous territory located on the Pearl River Delta of East Asia. Macau lies across the Delta to the west, and the Chinese province of Guangdong borders the territory to the north. The official language is Chinese, with English spoken widely in business, and the currency is the Hong Kong Dollar (HKD). Hong Kong is one of the world's leading international financial centres, and the world's eleventh largest trading entity. It maintains active partnerships with foreign nations in the World Trade Organization (WTO), and the Asia-Pacific Economic Cooperation (APEC), among other memberships.
Key Benefits & Features of Company Formation:
- Zero taxes for offshore business activities.
- 16.5% tax rate of net profits for profits that have a source in Hong Kong.
- No VAT, business tax or capital gains tax for any companies.
- Most companies are Private Limited Companies.
- Has a business-friendly reputation.
- Legal system is based on English Common Law.
- Rules of equity apply.
- Directors and Shareholders do not need to be residents.
- Company presence makes entering the Chinese market easier.
- To indicate Limited Liability, company registered names are required to either end with ‘Limited’ or ‘Ltd’.
- Minimum share capital requirement is HKD 10,000.
- A registered office address in Hong Kong is required.
- Requirement for Director and Shareholder are a minimum of one, which can be the same person, and can be an overseas person.
- Secretary is required to be a Hong Kong resident – corporate body or natural person.
- Conducting registration and business activities with transparency is to the benefit of those wishing to register a company and can facilitate the process greatly.
- Opening a corporate bank account is a fairly simple process that may require a face-to-face meeting.