Location: Eastern Asia
Registered Capital: HK$10,000 with 10,000 shares of HK $1 per share. The minimum subscribed share capital is HK $1 only. "No par value" or "bearer" shares are not allowed.
Shareholders: Person/entity of any nationality/residency can be a shareholder.
Registered Agent is required
Director: person/entity of any nationality/residency may be a director.
Secretary: At least 1 company secretary who must be whether a HK company or a HK resident is mandatory.
Accounting: Keeping accounting records is mandatory. Annual filling of Annual Returns and Annual Profit Tax are mandatory.
Taxation: Hong Kong has a territorial basis taxation. Income earned outside Hong Kong is not levied by tax. Other way profit derived of a business inside Hong Kong is subject to 16.5% tax rate only
Advantages of HK Company:
- Secure and stable social and political environment, safe family environment with one of the lowest crime rate in the world. This has enabled the implementation of consistent sound economic policies and the reinforcing of the most tolerant, prosperous, secure and safest societies in the world
- Favorable tax environment for most industry. Neither income earned outside Hong Kong is levied by tax nor double taxation for business profit derived inside HK.
– Wide spreaded and reliable banking system. Hong Kong is one of the leading Asian centers for finance and commerce. More than 135 banks with over 120 foreign banks having RO in Hong Kong. No any exchange controls and tax-free markets exist in gold, stocks and futures. Few restrictions only in Hong Kong on foreign investment/transfer of income and capital provide freely funds movement in and out of the territory. Opening bank accounts in Hong Kong is a simple and convenient procedures
– The Closer Economic Partnership Agreement (CEPA) was signed in 2003 by Central People's Government and the Government of Hong Kong Special Administrative Region. This arrangement provides an preferential opportunity to China market and reduced tariffs for qualified enterprises.
– Hong Kong is the only one biggest banking center which shouldn't automatically provide information about accounts owned by EU citizens. Hong Kong is a member of FATF and OECD. This is the only one “offshore” banking center which is out of jurisdiction of new directive regarding the taxation of income yield and dividends paid to non-residents from saving accounts. This directive applies in EU and subordinated to it territories as well as in Switzerland and USA.
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Walton Consultants DMCC