Hong Kong is located within an ideal location in the Asia pacific region. It is a free market economy with use of all the world’s major markets. It is reputed as one of the most business friendly environment in the world and ranks very favorably as the least corrupt world economies. According to 2011 estimate its GDP was $49, 300.
It features a highly efficient transportation system, working legislation and state-of-the-art telecommunication infrastructure makes it the objective of most entrepreneurs. Using English in this particular City further elevates its attractiveness since the ideal location to start businesses. The City uses English common law which advocates for that rules of equity. It possesses a highly trained workforce which is its crowning jewel. This asset draws investors to place pen to paper.
Hong Kong Company registration requires Company Formation to business. This contributes to the probability of owning your company successfully established. In order to attain the level of transparency required, you might consider hiring the expertise of experienced executives that are up to date with procedures that can enhance your business results.
You could enroll the expertise of a company that focuses on various elements of putting together companies in this Asian City. Starting a company in Hong Kong is an efficient way of increasing the City’s along with your own business opportunities. Nearly all companies in this particular jurisdiction are private limited companies.
Attributes of Private Limited Companies
• The principles of taxation adopted from this city are known as territorial source.
• Only profits whose source can be traced back to Hong Kong are taxable.
• Business activities from offshore sources are 100 percent tax-free.
• In the rate of 16.5 percent tax on net profits, it is actually considered a minimal tax regime.
• You can find not one other taxation systems like capital gain tax, VAT or business tax.
• In accordance with the statutory requirements, the shareholders or directors do not have to become residents of Hong Kong.
• A Hong Kong company can facilitate entry in to the Chinese market. It can be used being an intermediary for trading purposes with China.
• A Hong Kong company can appoint an overseas individual as its director and shareholder.
• The absolute minimum or one shareholder and one director is required. One individual can double as director and shareholder.
• As a minimum, the share capital requirement is HK$10,000. This amount doesn’t have to be paid in advance.
• Company incorporation in this particular city needs a registered office inside the jurisdiction as well as a resident individual or a local corporation to do something as secretary.
• The company’s registered name should end using the word limited or Ltd. This is short for limited liability.
Opening a bank account is really a straightforward process of Hong Kong Company registration. You may be asked to meet one on one with the bank. However, due to the large network of special relationships in the banking sector, it ousyuz be unnecessary to accomplish this. Opening the bank make up your company may gain you use of extra account features. Some HK Company Incorporation features include debit/bank cards, internet banking, low transaction fees, multi-currency accounts. Any company that fails to apply for Hong Kong company registration will be passing up on lucrative online business offerings.