Hong Kong is located within an ideal location within the Asia pacific region. It is a free market economy with access to all the world’s major markets. It is reputed among the most business friendly environment in the world and ranks very favorably as the least corrupt world economies. In accordance with 2011 estimate its GDP was $49, 300.
It features a highly efficient transportation system, working legal system and state-of-the-art telecommunication infrastructure causes it to be the target of most entrepreneurs. Using English in this City further elevates its attractiveness as the ideal location to start businesses. The City uses English common law which advocates for your rules of equity. It has a highly skilled workforce that is its crowning jewel. This asset draws investors to set pen to paper.
Hong Kong Company registration requires Company Formation In Hong Kong to business. This contributes to the likelihood of getting your company successfully established. In order to accomplish the amount of transparency required, you could consider hiring the services of experienced executives who are as much as date with procedures that can improve your business results.
You could enroll the services of a company that focuses on various aspects of establishing companies in this particular Asian City. Establishing a company in Hong Kong is an excellent means of increasing the City’s along with your own business opportunities. Nearly all companies in this particular jurisdiction are private limited companies.
Features 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.
• On the rate of 16.5 percent tax on net profits, it is actually considered a low tax regime.
• There are no other taxation systems like capital gain tax, VAT or business tax.
• According to the statutory requirements, the shareholders or directors do not have to get residents of Hong Kong.
• A Hong Kong company can facilitate entry into the Chinese market. It can also be used being an intermediary for trading purposes with China.
• A Hong Kong company can appoint an overseas individual as its director and shareholder.
• A minimum a treadmill shareholder and something director is necessary. One individual can double up as director and shareholder.
• As a minimum, the share capital requirement is HK$10,000. This amount doesn’t must be paid in advance.
• Company incorporation in this particular city needs a registered office within the jurisdiction along with a resident individual or perhaps a local corporation to behave as secretary.
• The company’s registered name should end with the word limited or Ltd. This stands for limited liability.
Opening a bank account is actually a straightforward process of Hong Kong Company registration. You may be asked to meet in person with the bank. However, as a result of large network of special relationships within the banking sector, it ousyuz be unnecessary to do this. Opening the bank account for your company may gain you use of extra account features. Some 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 likely be missing out on lucrative work at home opportunities.