General Information about Offshore Company Formation in Hong Kong
Hong Kong is one of the most attractive jurisdictions now, that jurisdiction has an excellent picture, there is no risk of being requilified by the tax authorities (requalification). Banking secrecy is really solid and the jurisdiction is very stable. It also has an excellent reputation in the business. Hong Kong is The offshore jurisdiction to choose for service activities and international trade. In Hong Kong tax is 17.5% (if you have a local and on-site personnel activity), but it is 0% for companies having their business outside Hong Kong.
An offshore company in Hong Kong will be taxable in the following cases:
• If the company has its own offices and staff in Hong Kong, if the equipment owned by the company is stored in Hong Kong.
• If the current management of the company was done wholly or partly in the territory of Hong Kong.
• If customers or suppliers of this company are in Hong Kong.
Hong Kong is a Special Administrative Region, you can absolutely do business with China without taxation.
Accounting / Auditing:
Tax authorities in Hong Kong will send a form entitled “Statement of income taxes” only 18 months after the registration of the company. Then it will be time to apply for the status of company “offshore”. If the Company had no transaction then the state tax benefit statement “No” will be presented
Hong Kong is located in southern China, this is a former British colony, returned under the influence of China since 1997. Hong Kong has retained its own legal system which makes this region very different from the rest of China . The People’s Republic of China has also said that Hong Kong would retain its autonomy until 2047.
Hong Kong is offshore
This is the first Asian financial center. Hong Kong through its special status guarantees its offshore companies a taxation of 0%, provided that these companies have no activity in Hong Kong. Hong Kong also ensures data confidentiality and the ability to have multi-currency bank accounts. The type of offshore company most prevalent in Hong Kong is a Private Limited Company which is a limited liability company. Hong Kong is a region renowned for the business internationally.
1. Time to setup an offshore company in Hong kong: 1-2 days.
2. Shelf company available.
3. Accounting is mandatory
4. Nominee Shareholder possible.
5. Nominee Director possible.
“Type of offshore company” – Limited Companies (Ltd)
“Taxes” – Corporation tax / 0% taxation on profits earned abroad
“Accounting” – Accounting requirements The preparation of accounts is mandatory (31 March). From the 18th month after the establishment of the company
“Capital requirements” – Capital requirement $ 1
“Bearer Shares” – No Bearer Shares
“Published information” – The names of officers appear on the register but not shareholders
“Number of Directors / Shareholders” – Minimum 1 Director and 1 Shareholder
“Law” – Common law
“Confidentiality” – Confidentiality is guaranteed
The main activities that you can take with an offshore company formation in Hong Kong:
“Detention of real estate property”
“Detention and exploitation of IP”
“Organizing Your Estate”