Hong Kong is situated in an ideal location within the Asia pacific region. It is a free market economy with use of all the world’s major markets. It is reputed as among the most business friendly environment in the world and ranks very favorably as the least corrupt world economies. Based on 2011 estimate its GDP was $49, 300.
It features a highly efficient transportation system, working legal system and state-of-the-art telecommunication infrastructure causes it to be the prospective of many entrepreneurs. The use of English within this City further elevates its attractiveness as the ideal spot to start businesses. The City uses English common law which advocates for your rules of equity. It possesses a highly trained workforce that is its crowning jewel. This asset draws investors to set pen to paper.
Hong Kong Company registration requires Company Formation to business. This contributes to the likelihood of getting your company successfully established. In order to achieve the amount of transparency required, you could consider hiring the expertise of experienced executives who are as much as date with procedures that can enhance your business results.
You could enroll the expertise of a company which specializes in various facets of establishing companies in this Asian City. Establishing a company in Hong Kong is an effective way of increasing the City’s as well as your own online business offerings. The majority of companies within this jurisdiction are private limited companies.
Attributes of Private Limited Companies
• The principles of taxation adopted with this city are referred to as territorial source.
• Only profits whose source can be traced back to Hong Kong are taxable.
• Business activities from offshore sources are 100 % tax-free.
• In the rate of 16.5 percent tax on net profits, it is considered a low tax regime.
• You can find not one other taxation systems including capital gain tax, VAT or business tax.
• According to the statutory requirements, the shareholders or directors do not possess to be residents of Hong Kong.
• A Hong Kong company can facilitate entry to the Chinese market. It can also be employed being an intermediary for trading purposes with China.
• A Hong Kong company can appoint an overseas individual as its director and shareholder.
• A minimum or one shareholder then one director is required. One individual can double as director and shareholder.
• As being a minimum, the share capital requirement is HK$10,000. This amount doesn’t have to be paid in advance.
• Company incorporation in this city requires a registered office in the jurisdiction along with a resident individual or even a local corporation to behave as secretary.
• The company’s registered name should end with all the word limited or Ltd. This is short for limited liability.
Opening a bank account is a straightforward procedure for Hong Kong Company registration. You may be required to meet face to face with the bank. However, as a result of large network of special relationships in the banking sector, it ousyuz be unnecessary to do so. Opening the bank take into account your company may gain you access to extra account features. Some Hong Kong Incorporation features include debit/charge cards, internet banking, low transaction fees, multi-currency accounts. Any company that fails to try to get Hong Kong company registration is going to be missing out on lucrative work at home opportunities.