Features of Hong Kong Corporations
- Full exemption from taxation for any business activity or transaction carried out outside Hong Kong.
AUTHORIZED CAPITAL / SHARES
- Only nominative shares are allowed.
- No paid-in capital is required.
DIRECTORS / OFFICERS (SECRETARY) AND SHAREHOLDERS
- Shareholders and directors can be either corporate entities or natural persons.
- Initial or ongoing changes in directors and / or officers need to be filed at the companies’ registry.
- The directors may grant special or general powers of attorney.
- The Register of Directors and Secretaries shall be kept at the registered office.
- Neither the directors nor the officers need to be shareholders.
- Shareholders and directors may be of any nationality and may be resident of any country.
- Shareholders and directors may hold their meetings in any country and may attend such meetings by proxy or by any electronic means (phone, fax, etc.)
- The appointment of one secretary is mandatory.
- The company secretary must be a corporate or a natural person residing in Hong Kong.
- The filling of annual returns is mandatory.
- The filing of an annual profit tax return is made on a request basis, but the company must be prepared to file, if required.
INCORPORATION AND ADMINISTRATION
- Excellent availability of company names for incorporation.
- Familiarity of incorporation documents (Memorandum & Articles of Association, Certificate of Incorporation).
- The word “Limited” must be used in a company’s name ending.
- Incorporation Procedure takes 7 days
- The Hong Kong Registry is equipped with modern sophisticated computer equipment, which heightens speed and efficiency in the processing of documents in a timely manner.
- Relatively simple ongoing administration if activities of the company are not complicated and take place outside of Hong Kong.
- Shelf companies available.
- Accounting books of the company may be kept abroad.
- Keeping accounting records is mandatory, as is an auditing exercise in Hong Kong every year.
- The director (s) must be keep, at his (their) office, the statutory books, including the minutes book, the register of directors, shareholders, secretarial, mortgage& charge and accounting records.
REGISTERED OFFICE AND CORPORATE SEAL
- Registered Office in Hong Kong is required.
- Corporate seal is mandatory.
COSTS AND FEES
- Reasonable formation and maintenance costs and fees.
USES OF HONG KONG CORPORATIONS
- Holder of bank accounts, fixed deposits, investments plans and any other financial investments such as securities, bonds, options, etc.
- Owner of the shares of other companies or legal entities.
- Owner of apartments, houses, buildings, vessels and any other movable or immovable property or goods.
- Manager and promoter of international business transactions.
- International leasing of vehicles, machinery and others.
- To pay or receive commissions, royalties or other similar payments.
- Marketing and promotion of products and services.
- Other commercial and financial activities.
HIGHLIGHTS OF HONG KONG
- Excellent corporation law.
- Serviced by major word airlines.
- Excellent hotel accommodation.
- Excellent worldwide communication facilities.
- Skilled personnel
- British territory until 1997, when it became a special administrative region of China with autonomous power.
- Ranks among the top twenty trading economies in the world.
- World’s third largest financial centre.
- world’s largest container port.
- Major gateway for trade investment and finance into china and the rest of Asia.
- Languages: English and Chinese.
- Long tradition of political and economic stability of the country.
REGISTERED OFFICE REQUIREMENTS
- Appropriate character references and other due diligence documents, as required.
- Registered Office and Company secretary in Hong Kong must be appointed.
- Non-payment of the annual fees will result in the immediate termination of the provision of the registered Office / Secretary.
- Appropriate accounting records or statement must be supplied to our Registered Office every year.
- Written instructions and written undertaking to supply records required by the Hong Kong Government.
SOCIAL AND ECONOMIC INDICATORS
|Location||Southern tip of Guangdong, province of China.|
|Area||1,104 Square Kilometers|
|Population||7,055,071 (July 2009 Est.)|
|Climate||20°C average temperature|
|Official Language||Chinese and English|
|Government||Special administrative district.|
|Banking||worldwide banking facilities available|
|Legal Tender||Hong Kong dollar|
|Industry||Banking, professional services and shipping.|