Monday, 26 June, 2017
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Hong Kong
  • Hong Kong is one of the major financial centres in Asia that is traditionally used as an economic gateway to the Chinese market.
  • Hong Kong was a British colony until 1997. It then became a special administrative region of China, due to the expiry of the Convention between Great Britain and China Respecting an Extension of Hong Kong Territory, which was signed back in 1898. Whilst thorough changes in capitalist regime of Hong Kong were predicted, despite the actual change of the political status of Hong Kong, mainland China observes the principle known as "one country, two systems", and today Hong Kong continues to be a paragon of capitalism as well as a popular jurisdiction for registration of tax-free companies. Hong Kong is very useful for those with business partners from the Far East countries.

GENERAL INFORMATIONTotal area - 1,104 sq km
Population - 7,000,000
Location - click here to see the map of offshore jurisdictions
Political status - administrative district of China.
Official language - Chinese, English.
Official currency - Hong Kong Dollar (HKD)
Time zone - GMT +8
Company typePrivate Company Limited by Shares
Directors/OfficersHong Kong companies require a minimum of 1 Director. At least one director must be a natural person, other directors may be corporate bodies. No restrictions regarding residence country of directors.
Each Hong Kong company must file a Register of its Directors with the Register of Enterprises of Hong Kong.
ShareholdersHong Kong companies require a minimum of 1 shareholder, who may be a natural person or a corporate body from any legal jurisdiction.
Each Hong Kong company must file a Register of its shareholder/s with the Register of Enterprises of Hong Kong.
SecretaryHong Kong companies require a minimum of 1 Secretary, who may be a natural person or a corporate body and must be a resident of Hong Kong.
Each Hong Kong company must file information on its Secretary with the Register of Enterprises of Hong Kong.
Authorised share capital Standard authorised capital = HKD 10,000.
Minimum capital, which must be paid on incorporation = 1 HKD
Company Names The name of a Hong Kong company must be stated in two languages - Chinese and English, and must end with the word "Limited".
Company names containing restricted words such as "Bank", "Insurance", "Assurance", "Savings", "Trust" etc. will not be permitted unless an appropriate national operating licence has been obtained by the company.
Beneficial Ownership information Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of the company and is held by the agent on a confidential basis.
Filing of Annual ReturnAn Annual Return must be submitted every 12 months after the date of registration.
Filing of Financial StatementsA Financial Statement must be submitted every year.
Corporate TaxationIncome sourced outside of Hong Kong is not a subject to corporation tax in Hong Kong.
Tax TreatiesHong Kong companies that do not carry on commercial operations in Hong Kong, are not regarded as resident for tax purposes in Hong Kong, and therefore are not entitled to take advantages of Double Tax treaties concluded by Hong Kong with other countries.
Timeframe for incorporation 7/8 working days. A complete set of company documents can be delivered in 5/6 weeks.
Takeover of management & secretarial services for an existing HongKong non-resident companyPossible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in Hong Kong.
Description of incorporation documentsClick here for itemised description of company documents.
"Ready-made"("Shelf") companiesToday we have 9 "Ready-made" companies available in this jurisdiction
Price of HongKong non-resident companyEUR 2,280, including incorporation costs, full domiciliary (Registered Agent/Office) costs, set of documents legalised by Apostille, including General Power of Attorney.
Cost of annual support servicesEUR 1,830 per year, including annual Government Duty, full domiciliary (Registered Agent/Office) costs, General Power of Attorney for current year.
Also, additional fees must be paid for preparing of financial statement, which depends on complicity of the statement.
  • INTERNATIONAL OVERSEAS SERVICES has the following comments: -
  • One of the advantages for companies incorporated in Hong Kong is that their tax-exempt status is not apparent to third parties. The foundation documents of non-resident Hong Kong companies do not, on the face of them, differ in any particular way from those of resident companies which are subject to a standard rate of tax of 16,5%. The privileged status of non-resident Hong Kong companies is based exclusively on the territorial system of taxation of income.
  • Due to this, companies incorporated in Hong Kong are highly rated by entrepreneurs despite the higher registration expenses associated with them. This is especially the case where there is an opportunity to work with business partners from the Far East.
  • It is important also to note that, according to the legislation of Hong Kong, the original registration documents of a company (namely the Certificate of Incorporation, the Memorandum and Articles, and the stamp of the company) must be kept in the registered office of the company in Hong Kong. Therefore, a standard set of documents of a company includes copies of the foundation documents, certified by the Notary and Apostilled.
Info Lines:
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