Offshore company formation in Hong Kong

INTRODUCTION TO OFFSHORE COMPANY FORMATION IN HONG KONG

Hong Kong, a culturally vibrant and significant financial centre in Asia, consists of a large group of islands on the south east coast of China. In 1997, Hong Kong ceased to be a British colony and became a Special Administrative Region (SAR) within the People’s Republic of China (PRC). Hong Kong has maintained its “one country-two systems” philosophy intact since becoming a “SAR”. This philosophy ensures that the capitalist system, legal structure and lifestyle remain unchanged. Hong Kong has maintained its transparent business environment, free flow of capital and convertible HK dollar.

Hong Kong has a favorable company taxation regime, which means that correctly structured and managed Hong Kong offshore companies can be used for international trade without paying tax in Hong Kong, provided the company does not have Hong Kong source income. Profit tax on domestic Hong Kong business income is 17.5%.

A Hong Kong registered offshore company can be an excellent tool in entering the Chinese market. Used as a shareholder of a Chinese company, it can significantly ease burdensome incorporation procedures. Hong Kong registered offshore company also can be used as an intermediary when trading with China. Trading with China and holding a Hong Kong bank account do not constitute Hong Kong source income (unless this is done from a Hong Kong office), therefore, the Hong Kong offshore company will not lose the advantage of its tax-free status.

ESSENTIALS FOR OFFSHORE COMPANY FORMATION IN HONG KONG

• Company's minimum share capital requirement in Hong Kong: HK$1
• Minimum number of company directors is one (can be non-resident, private person or corporate entity)
• Hong Kong offshore company director / shareholder information is a matter of public record. (Nominees are customary)
• Local company secretary in Hong Kong required
• Requirement to file and prepare company accounts only if company has Hong Kong source income
• The registered name of a company in Hong Kong must end with the word "Limited" or "Ltd." to denote limited liability.

HONG KONG OFFSHORE COMPANY SETUP FEES

Please contact us for recent Hong Kong offshore company formation prices.

TIME FRAMES FOR OFFSHORE COMPANY FORMATION IN HONG KONG

• 10 days for company incorporation in Hong Kong (allow 3-5 days for courier)
• Ready-made offshore shelf companies in Hong Kong available on the shelf

HONG KONG OFFSHORE COMPANY FINANCIAL STATEMENTS

If required, we can prepare year end company financial statements for clients based upon approximate number of monthly invoices and projected annual turnover of Hong Kong offshore company. Fees for larger companies may vary. Please contact us about fees for preparing the financial statements for Hong Kong registered offshore companies.

BANKING FACILITIES FOR OFFSHORE COMPANIES REGISTERED IN HONG KONG

For the Hong Kong registered offshore company, we can recommend opening an bank account with various Hong Kong banks including HSBC or Hang Seng Bank. This will require a personal visit to Hong Kong. Lately, Hong Kong banks have been very forthcoming in opening accounts for Russian and Eastern European clients. Please contact us for bank account opening details for offshore companies registered in Hong Kong. 

VIRTUAL OFFICE SERVICES FOR OFFSHORE COMPANIES REGISTERED IN HONG KONG

Please contact us for availability of virtual office services to offshore companies registered in Hong Kong.

HOW TO SET UP AN OFFSHORE COMPANY IN HONG KONG?

To open a Hong Kong company, we will require the following:

• 100% of the Hong Kong offshore company formation cost
• A completed Hong Kong offshore company registration application form
• A passport copy of the company’s beneficial owner and company attorney
• Proof of residential address (address stamp in domestic passport or copy of a utility bill less than three months old)

Please send your documentation for company formation in Hong Kong to:

SIA IBC Konsultants
Antonijas St. 22-4, LV-1010

Riga, Latvia

Fax: +371 67333957
Email: info@globalcompanyregistration.com
Skype: Contact_IBC

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