Hong Kong Company Formation
- Protected jurisdiction and remarkable reputation.
- Time of Hong Kong company formation takes 2 DAYS.
- Personal presence not required
Tax Rates in Hong Kong
Corporation Tax in Hong Kong: Corporate tax rate of 16.5%. There are some tax incentives for special business operations, such as tax exemption for profits derived by offshore funds and profits derived from operating ships in Hong Kong.
Income Tax in Hong Kong: Individuals are taxed at progressive rates on their net chargeable income (i.e. assessable income after deductions and allowances) starting at 2% and ending at 17%; or at a standard rate of 15% on net income (i.e. incomeafter deductions), whichever is lower.
VAT Tax in Hong Kong: There is no sales tax
About Hong Kong
Capital: Hong Kong
Language: Chinese, English
Currency: Hong Kong dollar (HK$) (HKD)
Time Zones: UTC+8
Dial Code: +852
What we can do for your Company in Hong Kong
- We do all paperwork on forming the company in Hong Kong
- Formation is completely remote
- Can act as Secretary or Treasury
- Provide nominee Directors/Shareholders
- Assist with opening a bank account
- Registration for Taxes, VAT & EORI
- Develop a website for your business
- Create a logo of your brand
- Provide with full company administration services
- Arrange a mailing address for your business
- Arrange a virtual office for your company
- Telephone answering service
- Book keeping, audit & reporting
- Preparing and submitting VAT return
- Dealing with local authority
- Trademark registration
Hong Kong Company Formation. Hong Kong Private Limited Company (Hong Kong PLC)
Main Characteristics and the basic rules of Company registration in Hong Kong.
|Hong Kong Company Formation||Financial Advantages|
|Taxation:||16.5% (only applies when trade within Hong Kong)|
|Double Taxation Treaty Access:||Yes Treaty Access|
|Hong Kong Tax Information Exchange Agreements:||Yes, TIEAs signed by Hong Kong|
|Account Filing Requirements:||Yes accounting / reporting requirements|
|Annual Return Filing Requirements:||Yes annual return/ reporting requirements|
|Audit Requirements:||Yes audit required|
|Hong Kong Company Formation||Registration Requirements|
|Share Capital:||HKD 1,000|
|Classes of Share Available for Hong Kong company formation:||Shares with or without voting rights, redeemable shares, ordinary shares, preference shares.|
|Minimum paid up share capital:||HKD 1|
|Bearer Shares:||Not Allowed|
|Registered Office Required:||Yes required to be maintained in Hong Kong|
|Secretary Requirements:||Yes, required , must be a resident of HK, individual or company|
|Registered agent:||Yes required|
|Shareholders:||Minimum number is one. Corporate shareholders are allowed.|
|Directors:||Minimum number is one. Can be any nationality and need not be resident in Hong Kong. Corporate directors are allowed.|
|Your Company language:||English|
|Name of your Company must be ended:||“Limited” only|
|Documents required for Hong Kong company formation:||A certified copy of your passport or ID and proof of your residential address dated less than 3 months.|
|Hong Kong Company Formation||Restriction|
|For Hong Kong company formation you cannot use words in your company names without justification:||“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc.|
|Restrictions on Trading:||Gibraltar “Non-Resident Controlled” companies are not permitted to trade within Gibraltar or to have Gibraltar-source income, if they wish to avoid being treated as taxable in Gibraltar|
|Not permitted without a licence:||Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.|
|Hong Kong Company Formation||Confidentiality and Security|
|Publicly Accessible Records:||Yes public register of company officers (Directors, Shareholders, Secretary)|
|Possibility to use Nominee Shareholders and Nominee Directors for Hong Kong Company Formation:||Yes, Allowed|
|Disclosure of Beneficial Ownership to Authorities:||Only subject to Court Order or TIES arrangements|
|Meetings of Directors and Shareholders to be held:||Anywhere in the world, but typically held in Hong Kong|
|What is the stability to register Hong Kong Company:||Protected jurisdiction and remarkable reputation.|
|About Hong Kong|
|Capital city:||Hong Kong city|
|Region:||Hong Kong is an autonomous territory, and former British colony, in southeastern China.|
|Governing corporate legislation:||Companies Ordinance (Cap 32)|
|Type of Law:||Common|
|Type of company:||Hong Kong Private Limited Company (PLC).|
|Currency:||Hong Kong dollar (HKD)|
|Language of Legislation and Corporate Documents:||Chinese, English|
FAQ Hong Kong Company Formation
Hong Kong has various forms of corporation. The sole proprietorships, companies, and partnerships. Thеrе аrе twо tуреѕ of companies: limited соmраnіеѕ аnd unlimited соmраnіеѕ. Lіmіtеd соmраnіеѕ have thеіr own legal status. Thе share hоldеrѕ’ assets аrе “shielded” frоm thаt of thе соmраnіеѕ. The share holders’ liabilities do not exceed the values of their shares. Unlimited companies include sole proprietorships and general partnerships. In an unlimited company, the owners have personal liability for all the business’ debts and obligations.
Yes, a company registration number will be issued once the company is registered and registration is done within a blink of an eye.
It’s a fee for incorporating a Hong Kong company limited by shares are; Company Registration fee, Business registration fee , Levy to the Protection of Wages on Insolvency Fund. Also, there are agencies that offer incorporation services for an extra fee.
Yes, Shelf companies are available. We will help you with a list of Shelf Company or help you start a new one from scratch. We can as well help you purchasing a Shelf Company with a few days. This companies are also know in Hong Kong as shell companies and they offer a lot of credibility to foreign investor in Hong Kong.
Hong Kong company registry website is //www.cr.gov.hk/. It administers and enforces most parts of the Companies Ordinance. The Registry is in charge of registering local and non-Hong Kоng соmраnіеѕ and ѕtаtutоrу rеturnѕ, de-registers defunct ѕоlvеnt соmраnіеѕ and provides the public with services and facilities for inspecting and obtaining company information kept by the Registry.
Basic cost is 850 USD.
The cost of the total initial payments for forming a Hong Kong company, including a running first year costs payable includes; Forming a HK company with capital, Business registration fee payable to the Government, Annual company secretarial fee, registered office fee, apostilled set of company documents fee and a bank account opening fee.
You can go to Hong Kong and open the company by yourself. However the government requires your company to have an office and a secretary in Hong Kong. But the good news is, there are agencies that could do that for you without necessary coming to Hong Kong. A client shall fill in and submit to an agency the Formation Form for providing the details of proposed company name, shareholders, directors, secretary and registered office. Then we shall check and confirm if it is registrable within few working days.
There are agencies in Hong Kong that help clients with Hong Kong incorporation services and company formation. They are certified agencies that provide these service. But before chosen one, make sure you look for a credible one and beware of fake agencies.
Yes. We shall prepare and send by email all the documents for incorporating a company, including appointment of first directors and issue of share certificates. After processing, the documents will be sent to the client, and then the company can be used. This procedures is usually completed within a time period of two week.
Yes, we will handle Hong Kong Holding company formalities for you with our experience staff. From bank account opening, document processing and the address and name of company.
Yes. We will apply a bank account on your behalf and an assist you to the bank and help you open the account. With just about 2 hours, we will get it done. An account is required for companies incorporated in Hong Kong. However, it is not compulsory for those that do not have their main place of business in Hong Kong. However, procedures for opening bank accounts depend on the bank you want to use.
Procedures for Hong Kong Bank Account Opening, You will have to;
- Submit an application
- Request a bank account number
- Deliver a cheque Book
- Your password for online banking operations
The general requirement needed for the formation of a Hong Kong company are:
- At least one shareholder and director over 18 years old
- Choose a name
- A copy of your passport
- A copy of an official document for proof of residence (Usually, Your Identification card or your driver’s license) and;
- A questionnaire with questions such as your passport number ,address, and the name of the director and shareholders of your Hong Kong Company
- Onе lеgаl ѕесrеtаrу (position tаkеn bу a Hоng Kоng реrmаnеnt rеѕіdеnt or Hоng Kong Cоmраnу)
Thеrе shall bе one registered аddrеѕѕ іn Hong Kоng.
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.