Hong Kong Private Limited Company

hongkong map

Hong Kong is the leading South East Asian centre for both finance and commerce and ranks as the world's third largest financial centre after London and New York.

The Hong Kong Stock Exchange is the most active in Asia outside Japan.

Hong Kong elects its own legislature and maintains its own court structure.

The best offshore tool in Hong Kong: Private Limited Company (PLC)

OUTSTANDING FEATURES

Type of law

Common.

Corporate taxation

Nil on Foreign Profits

Minimum government fees (excluding taxation)

US$450

Equity capital of the company

Equity capital of the company is established by declaration, no mandatory contribution is required, and no minimum/maximum limits are set.

Standard currency

HK$

Permitted currencies

Any

Minimum paid up

HK$1

Recommended equity capital

HK$1,000

Shares

Authorized emission of both registered and bearer shares with or without par value;

Members
- Minimum number
- Publicly accessible records
- Holders of trust equities

One
Yes;
Permitted;

Company Secretary
- Minimum number
- Required
- Local or qualified

One
Yes;
Local;

Directors
- minimum number
- nationality and citizenship
- publicly accessible records

One
No requirements;
Yes

Accounts
- Requirement to prepare
- Audit requirements
- Requirement to file accounts
- Publicly accessible account

Yes;
Yes;
Yes;
No;

Requirement to file annual return

Yes

Change in domicile permitted

Holding of the meeting of directors

Meetings may be hold in any part of the world;
Minutes may be kept at any place;

Mandatory
- keeping of accounting records
- annual account
- presentation of auditors conclusion

No;
No;
No;

Company names are subject to the following requirements and restrictions

A name that is similar to or identical to an existing company
A name that constitutes a criminal offence or is otherwise contrary to the public interest.
A name that implies royal or government patronage.
Requiring consent or a license - Building society, Chamber of Commerce, chartered, co-operative, imperial, kaifong, mass transit, municipal, royal, savings, tourist association, trust, trustee, underground railway, bank, insurance, assurance, reinsurance, fund management, asset management and investment fund.

Double taxation treaty access:

China - Corporate and Personal Income Tax.
Belgium,Thailand - dividends, interest and royalties.
Other Countries - for shipping and aviation.

Term of incorporation

Approximately 2 weeks;

Costs of registration of company

Look below

Possibility to purchase a ready-made Hong Kong PLC offshore company

Yes

Corporate entities are governed by the provisions of the Hong Kong Companies Ordinance 1984 which brought the territory's company law into line with United Kingdom company law.

The Articles of Association of a private Hong Kong offshore company must restrict the right to transfer shares, must limit the number of members to fifty (excluding employees), must prohibits any invitation to the public to subscribe for any shares or debentures of the company.

TAX RULE

In general, there is one type of taxation for corporation. It is profits tax.
Please be informed that Hong Kong adopts a territorial source principle of taxation. Only profits which have a source in Hong Kong are taxable here. Profits sourced elsewhere are not subject to Hong Kong Profits Tax.

Please browse the following website for details of the sourcing rules in Hong Kong: http://www.ird.gov.hk/eng/paf/bus_pft_tsp.htm

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Asset Protection s.r.o. is not a law firm and does not provide legal advices or legal services. We recommended to consult licensed professionals with regards to local tax and legal matters.

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