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General |
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Type of entity |
Private Limited |
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Type of law |
Common |
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Shelf company availability |
Yes |
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Our time to establish a new company |
1 – 7 days |
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Minimum government fees (excluding taxation) |
US $320 / US $65 |
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Corporate Taxation |
Nil on Foreign Profits |
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Double taxation treaty access |
Yes |
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Share Capital or Equivalent |
|
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Standard currency |
HK $ |
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Permitted currencies |
Any |
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Minimum paid up |
HK $1 |
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Usual authorised |
HK $10,000 |
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Directors or Managers |
|
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Minimum number |
One |
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Local required |
No |
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Publicly accessible records |
Yes |
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Location of meetings |
Anywhere |
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Members |
|
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Minimum number |
One |
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Publicly accessible records |
Yes |
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Location of meetings |
Anywhere |
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Company Secretary |
|
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Required |
Yes |
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Local or qualified |
Local |
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Accounts |
|
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Requirement to prepare |
Yes |
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Audit requirements |
Yes |
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Requirement to file accounts |
Yes |
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Publicly accessible accounts |
No |
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Other |
|
|
Requirement to file annual return |
Yes |
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Change in domicile permitted |
No |
Private Limited by shares Company ( PLC) – Limited Liability Company. If Hong Kong Company performs its business operation out of Hong Kong territory, such company shall completely enjoy tax exemption, if the company operates in Hong Kong, business income tax shall be 16%. Specifying Hong Kong Company as an offshore or non-offshore is impossible. In Hong Kong, shareholders and director registration list is kept secret. Such information is only supplied upon decision of the court. When director or shareholders representing real owner of the company is used, the determination is impossible in reality. Since June 30th, 1997 Hong Kong has been integrated into mainland China and all control pressure of EU and USA have been avoided.
Tax policy in Hong Kong
– Tax on business operation out of Hong Kong territory – 0%
– Tax on passive gains (for example, shifting franchise fee to offshore subsidiary) shall not be exceeded 1.6%, depending on each case.
– Tax on wage fund – 15%, but it may be different
– Tax on business income in Hong Kong territory – 16%. Other taxes may appear (As matter of course, it only refers to business operation in Hong Kong territory). License tax as transferring real estate right (2.75%) and transferring share right (0.3%), etc.
In addition to shortcomings of companies in Hong Kong, another disadvantage is that there is only agreement on double taxation signed with Belgium
Company structure
In order to register company in Hong Kong, it is necessary to have head office registered in Hong Kong area and local secretary (maybe legal entity or individual). Company may have one director and individual or legal entity residing or non-residing. Name of the company must be ended by Limited or LTD.
Document set of PLC after registration
• Business registration
• Company Bylaws, Notarized Bylaws
• The first Meeting Minutes of Director Boards
• Aggregate Power of Attorney and special power of attorney (for account open in the banks).
• Aggregate power of attorney – Notarized
• Shares Certificate for nominal shareholders
• Share transfer note
• Seal
For more information, please contact our hotline +84 911 60 22 44 (Multi line)