Why set up a company in Hong Kong?
- Extend coverage of Technology Talent Admission Scheme to new technology areas.
- Inject $500 million into Social Innovation and Entrepreneurship Development Fund.
- lnject $1 billion into the BUD Fund scheme and increase the funding limit to $2 million for enterprises under the Mainland Programme and Free Trade Agreement Programme.
- Inject $1 billion into the Export Marketing and Industrial Organization Support Fund.
- Offer tax concessions for ship lessors and leasing managers.
- Enhance the SME Financing Guarantee Scheme:
Free flow of information
Strict anti-corruption regime
√ Proficient at international business culture
√ In addition to their fluency in English, the workforce can also speak Cantonese and Mandarin
√ Company incorporation in a very short time
√ No restrictions on business scope and foreign ownership
√ Extensive international transportation hub
Simple, Low & Competitive Tax System
√ Exemption for offshore income , no sales tax or VAT
√ Only three direct taxes are levied and the generous allowances and deductions can reduce the taxable amount
√ No withholding tax on dividends and interest and no capital gains tax
√ No restrictions on investment ,no foreign exchange control
√ A leading financial center
√ Direct handling of RMB by banks for cross-border trade
√ Qualified goods of HK origin can be exported to the Mainland China with no tariff levied
Sound Legal Environment
√ English common law
√ Intellectual property protection in force, as well as complete regulations in patents, copyrights, trademarks and registered designs
Basic Requirements & Facts for
Hong Kong Companies
√ Can be both in English and Chinese or in English only.
√ Get every possible name and check its availability
Every company shall appoint a Designated Representative (DR) responsible for reporting in related to SCR to prescribed local authorities as demanded.
√ A local or overseas corporate entity can act as one of the directors
√ No Hong Kong residency requirement
√ A Director can also be a shareholder
√ The appointment of nominee director is permitted
√ There is no residency requirement for shareholders. A director can also be a shareholder.
√ Any shareholder shall be at least 18 years old but can be from any country. The shareholder can be a person or a company
√ 100% local or foreign share is allowed.
√ The appointment of nominee shareholder is permitted
√ The shareholder meeting can be held anywhere
√ The secretary, when being acted by an individual, shall ordinarily reside in Hong Kong; the secretary, when being acted by a body corporate, shall have its registered office or a place of business in Hong Kong. It has to be noted that, when it comes to a sole director/shareholder, the same person cannot act as the company secretary.
√ The company secretary shall maintain the statutory books and records of the company, and guarantee the company’s compliance with all statutory requirements. A nominee secretary can be appointed.
Share capital can be expressed in any major currency and is not restricted to the Hong Kong Dollar alone. Shares can be freely transferred, subject to stamp duty fee. Bearer shares are not allowed.
√ The registered address shall be a physical address and shall not be a PO Box address
√ There is no capital gains tax, withholding tax on dividends, or VAT in Hong Kong. For more details on corporate taxes, please refer to Hong Kong Corporate Tax guide.
Every company is required to file annual returns with the Companies Registry and pay the annual registration fee. The Business Registration Certificate shall be renewed, one month before expiry on an annual basis or once every three years, as the case may be. An Annual General Meeting (AGM) shall be held very calendar year.
The AGM shall be held within 18 months of the date of incorporation, after which no more than 15 months can elapse between one AGM and the next. A written resolution in lieu of Annual General Meeting is permissible. For more details, please refer to Annual Compliance for Hong Kong Companies guide.
How to Set up a Company in HK?
- Fill out the QA form, KYC and other related forms prepared by us
- Shareholder Identification (Foreigner: passport copy, Chinese: ID card)
- Proof of address of all directors and shareholders (Copy + Original); the personal name shall be put down on in the proof of address, which, within the recent three months, can be bank statement/water bill/electricity bill/phone bill/driver license. You can provide the proof of address in China or in any other country where you live.
- Shareholder Identification: Company certificate of incorporation
- Company structure map (Disclose the beneficiary till the individual)
- Proof of address of all directors and shareholders (Copy+ Original); the personal name shall be put down on the proof address, which, within the recent three months, can be bank statement/water bill/electricity bill/phone bill/driver license. You can provide the proof of address in China or in any other country where you live.
- Fill in QA form+ KYC and other related form prepared by us
For more service details
please contact our consultant