Hong Kong is located within an ideal location within the Asia pacific region. It is a free market economy with usage of 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. Based on 2011 estimate its GDP was $49, 300.
It possesses a highly efficient transportation system, working legislation and state-of-the-art telecommunication infrastructure can make it the prospective of the majority of entrepreneurs. Using English in this particular City further elevates its attractiveness as the ideal place to start businesses. The Metropolis uses English common law which advocates for your rules of equity. It possesses 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 plays a part in the likelihood of having your company successfully established. In order to accomplish the degree of transparency required, you might consider hiring the services of experienced executives that are up to date with procedures that can enhance your business results.
You can enroll the assistance of a company which specializes in various aspects of establishing companies in this particular Asian City. Starting a company in Hong Kong is an effective way of increasing both City’s and your own business opportunities. The majority of companies in this jurisdiction are private limited companies.
Highlights of Private Limited Companies
• The principles of taxation adopted by this city are called territorial source.
• Only profits whose source can be traced back to Hong Kong are taxable.
• Business activities from offshore sources are 100 % tax-free.
• At the rate of 16.5 percent tax on net profits, it is considered a small tax regime.
• There are not one other taxation systems including capital gain tax, VAT or business tax.
• According to 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 also be employed as being an intermediary for trading purposes with China.
• A Hong Kong company can appoint an overseas individual as the director and shareholder.
• A minimum a treadmill shareholder and one 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 demands a registered office inside the jurisdiction and a resident individual or a local corporation to behave as secretary.
• The company’s registered name should end using the word limited or Ltd. This stands for limited liability.
Opening a bank account is really a straightforward procedure for Hong Kong Company registration. You may be required to meet in person with all the bank. However, because of the large network of special relationships within the banking sector, it ousyuz be unnecessary to accomplish this. Opening the bank take into account your company may gain you access to extra account features. Some Company Formation features include debit/credit cards, internet banking, low transaction fees, multi-currency accounts. Any company that fails to try to get Hong Kong company registration will be missing out on lucrative online business offerings.