Offshore Hong Kong
Benefits of Hong Kong Offshore Company:
Income tax doesn’t apply to revenue generated by business activities outside Hong Kong, even if that income is transferred to Hong Kong. The distinction is therefore not examined in terms of residency, but based on the source of income.
Bank account for Hong Kong offshore company: Euro Pacific Bank, Belize Bank International, Pacific Private Bank, Atlantic International Bank, Bank of Cyprus, Hellenic Bank.
Hong Kong offshore company registration in 5 steps:
STEP 1: Place your order
STEP 2: Pay the fee for Hong Kong offshore company formation
STEP 3: Our Project Manager contacts you and requests that you send the necesary documents
STEP 4: You receive foundation documents from us
STEP 5: You are able to start your business
Customer satisfaction rate:
Documents required for offshore company registration in Hong Kong: certified copy of passport or ID card, proof of address (not older than three months).
Hong Kong Offshore Company:
Legal form
Limited company
Duration of establishment
10 – 14 days
Register of executives
Publicly accessible
Register of shareholders
Publicly accessible
Registered capital
10,000 HKD
Minimum paid-up capital
1 HKD
Minimum number of shareholders
1
Minimum number of executives
1 (at least one natural person)
Non-residents allowed as executives / legal person
Yes / Yes
Registered agent / seat required
Yes / Yes
Local company secretary required
Yes
Local General Assembly required
No
Submission of financial statements
Yes
Submission of annual reports
Yes
Mandatory audit
Yes
Required tax return
Yes
Taxation of income
No taxes on foreign profits
Possibility to use a Double Taxation Avoidance Agreement
Yes
About Offshore Hong Kong:
Hong Kong is located on the southeast coast of the People’s Republic of China and adjacent islands. On July 1, 1997 it became a special administrative region of the PRC. The Chinese government is responsible for its defense, foreign relations and also has the ability to influence its economic relations with other countries. Questions of the financial system and fiscal policy remain the responsibility of the local government. The currency is the Hong Kong dollar. Hong Kong’s legal system is based on English law and does not recognize the concept of international business companies or resident / non-resident companies.
The most often established type of company is a limited liability company (Private Limited Company – Ltd.). The minimum amount of share capital of the company is not set, but the approved share capital is subject to a fee of 0.1% to the registry administrator, with the usual amount of paid-up capital being 1 000 HKD. The share capital can be in any currency and any subsequent change of the currency requires the consent of the Supreme Court. Books can also be kept in a currency other than that in which share capital is expressed.
A company may issue ordinary preference shares, but must not issue bearer shares. A company in Hong Kong must not conduct business as a bank, insurance company, fund or trust without an appropriate license. It must not sell its shares to the public or receive deposits from the public. Accounts must be verified annually by the appointed auditor, who must be a member of the Hong Kong accounting association (Hong Kong Society of Accountants) and
then sent to the tax office (Hong Kong Inland Revenue Department) and the business registry together with the annual report.