Hong Kong Company Formation - The Benefits of a Hong Kong Company

WHY CHOOSE HONG KONG?
Hong Kong companies have increased dramatically in profile and popularity over the last 2 years, with substantially increased company registrations.
Hong Kong is located in the South China Sea 100 miles south east of Guangzhou. As of 1 July 1997 under the Sino-British Agreement of December 1984, Hong Kong became a Special Administrative Region (HKSAR) of the People’s Republic of China. Hong Kong is not normally regarded as an offshore country as it is well known for being a major financial center in the world. The legal system of Hong Kong is British Common Law supplemented by locally enacted Ordinances. There is a bilingual legal system with Ordinances being translated into Chinese but English will continue to prevail. Under the “One country – Two systems” philosophy, Hong Kong has executive, legislative and independent judicial power. Hong Kong profits tax is only charged on Hong Kong sourced income at a rate of taxation of 17.5%. There is no tax in Hong Kong on capital gains, dividends and interest earned.

Several features of its legislation make Hong Kong an attractive jurisdiction. These include:

• There is NO minimum or maximum authorized capital. However, no subscriber of the Memorandum of Association may take less than one share. The authorized capital of our shelf company is HK$10,000. If a larger authorized capital is required, there will be additional capital fee of 0.1% on every or part of HK$1,000, subject to a cap of HK$30,000.
• Following the implementation of the Companies (Amendment) Ordinance 2003, the new law permits a private company to have only ONE director who need not be local resident. Corporate directors are allowed for companies that are not subsidiaries of public listed companies.
• The new law also permits a Hong Kong company to have only ONE shareholder. Corporate shareholders are allowed and anonymity can be achieved by the use of nominee shareholders.

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See Also:

Hong Kong - Frequently asked Questions
Hong Kong - Prices and Fees
Bank Account for Offshore Companies
Benefits of Incorporating in Hong Kong

If you would like further information or want to discuss any aspect of incorporating in Hong Kong please contact us