The Hong Kong Special Administrative Region of the People’s Republic of China, is an autonomous territory on the southern coast of China Home to around 7.2 million people, it is one of the world’s most densely populated regions.
Hong Kong is known as the gateway to China, it was previously under British Rule until as recently as 1997. Since coming back under Chinese Control, the Closer Economic Partnership Arrangement (CEPA), now offers preferential access to China’s Markets, making it a favourable international jurisdiction.
Hong Kong is an International Center for finance and trade, it is the third largest Financial Center in the world. Having more than a million companies incorporated, due to favourable regulatory environment and very competitive tax system. The ideal International Center of information exchange.
- Most incorporations per annum than any other jurisdiction
- Respected jurisdiction for business
- Mainland China trade
- PayPal Approved jurisdiction
- Anonymity though nominee director/shareholder services
- English is the main business and banking language
- English Common Law System
- E-Commerce Companies
- Asset Protection
- Tax Planning
- Estate Planning
- Financial Managements
- Investment Holding
- Leasing of other assets
- Ownership of intellectual property
- Yacht Registration
- International Trading Company
A Hong Kong Private Limited Company has no trading restrictions apart from undertaking business in banking, trusts, insurance or forex activities, without the appropriate license or authorisation being granted.
It may also not solicit funds from the public or sell its shares to the public.
Completed prescribed company formation form. A few of the other requirements are the Name of the company to be incorporated (Three proposed company names, in their order of priority – in Either English, Chinese or both.)
A physical address, proof of residential addresses and certified copies of valid passports or national ID cards, such as those issued in the European Union, for each Director and Shareholder or if they are a Corporate body, the certificate of incorporation and its registered address. These need to be certified by either a Notary Public, Bank or by the issuing country’s Embassy.
Authorised share capital and par value per share as well as issued and paid up share capital and how it is divided amongst each shareholder if more than one.
The name and address of the third party who is 18 years or older, who needs to witness the shareholders signatures in the Memorandum and Articles of Association (It is also needed for them to sign the Memorandum and Articles of Association.)
The company’s proposed corporate structure and proposed scope of business.
These need to be submitted to the Hong Kong Companies Registry.
|Company Type||Private Limited|
|Country Law||Common Law|
|Company Law||Companies Ordinance (Cap 622 replacing Cap 32)|
|Registered Office Required||Yes|
|Local Registered Agent Required||Yes - Possibly for Company Secretary|
|Shelf Companies Permitted||Yes|
|Migration Of Domicile||No|
|Average Time To Form Company|
1 to 10 Business Working Days
New Formations take the Maximum time
|Minimum Government Formation Charge||$295 USD|
|Recurring Minimum Annual Company License Fee||$1200 USD|
|Annual Return Filing Fee||$ 700 USD|
Yes, 16,5% tax for profits derived in Hong Kong
No, for offshore transactions
|Access to Double Taxation Treaties||Yes|
Hong Kong Private Limited Companies are not subject to tax on capital gains, dividends and interest earned
|Minimum Required Directors||1|
|Local Director Required||No|
|Board Meeting Location||Anywhere in the World|
|Corporate Directors Permitted||Yes|
|Privacy - Publicly Available Records||Yes (Although Nominee Services Can be used)|
There is a minimum requirement of one Director, of which may be the only shareholder. Directors can be either individuals or corporate bodies of any nationality and resident of any country.
|Local or Qualified Position||Yes - Individual or Corporate Body but must reside in Hong Kong|
HKD Hong Kong Dollar
Pegged to the USD1.0 =H KD 7.74
|Permitted Share Currency||Any|
|Minimum Paid Up Shares||$1 HKD|
|Usual Authorised||$10,000 HKD|
|Bearer Shares Permitted||No|
|No Par Value Shares Permitted||No|
|Minimum Number Of Shareholders||1 Shareholder|
|Corporate Shareholdes Permitted||Yes|
|Meeting Locations||Can be held anywhere in the world|
|Privacy - Publicly Available Records||No|
Ordinary shares, preference shares, redeemable shares and shares with or without voting rights, subject to the Articles of Association.
|Requirements To Prepare||Yes|
|Audit Required||No - Only required if business is conducted in Hong Kong|
|Keep Financial Records||Yes - minimum 7 years|
|Requirement To File Accounts||Yes|
|Requirement to File Annual Return||Yes|
|Accounts Publicly Accessible||No - Only Accessible if a listed company|
Hong Kong Private Limited Companies are subject to a 16.5% Tax on all income derived from within Hong Kong. They also benefit from no tax on capital gains, interest on income, dividend income or withholding tax.
|Hong Kong Facts|
Autonomous territory on the southern coast of China
Hong Kong Special Administrative Region,
of the People’s Republic of China
|Size||Approximate area of 1104 sq. km|
Main and Official Languages are:
Recognised Regional Language is:
|Currency||Hong Kong Dollar (HK$ or HKD)|
Special Administrative region of China
Offshore Incorporation and management
Road - Driving on the Left
hong Kongdoes not utilize Daylight Saving Time
|International Dialling Code||+852|
Contact us today to enquire about the Cost of Formation or if you have further questions regarding the application process.