Offshore Hong Kong.
Offshore Hong Kong is a Special Administrative Region in the PRC, one of the largest financial centres in the Asia-Pacific region and the world. This jurisdiction is characterised as a low-tax and is one of the most profitable trading spaces in Asia. Sound banking system, thoughtful corporate legislation and developed business infrastructure provide ample opportunities for the organisation of international business.
Such popularity of registration of offshore companies in the offshore Hong Kong jurisdiction can be explained by its one of the lowest tax rates in the world, as well as transparency and simplicity of taxation. The capital gains tax is completely absent, no fee charged for Social Security benefits, no marching tax interest and dividends, VAT and sales tax. Income derived from offshore activities is exempt from taxation.
Taxes are charged on a territorial basis. A company incorporated in Hong Kong, but conducting a business and having a source of income beyond, is exempt from any taxes. Decision on tax exemption is accepted by the Hong Kong tax authorities after the evaluation of the company.
What can an offshore Hong Kong company be used for?
An offshore Hong Kong company has a flexible structure. It can be organised under any business. Main applications:
- Acquisition of property on behalf of the Hong Kong company (this can significantly save on income tax, income tax and capital as well as property tax);
- Registration of ships and yachts in Hong Kong and their transfer to the ownership of the Hong Kong company (thus avoiding taxation of profits from their chartering and other uses);
- Withdraw from taxation income from the use of copyrights, patents, trademarks, licenses by selling property in Hong Kong companies.
Availability of books and accounts, annual audit reports, correspondence with the tax authorities , the documents for payment or tax exemption , plus the openness of information on the shareholders and directors makes the offshore Hong Kong company prestigious corporate tool that is recognised worldwide.
Benefits for companies registered in offshore Hong Kong.
- Low cost of registration and annual maintenance
- When making a profit out of the territory of Hong Kong is no need to pay taxes. If profits are made in Hong Kong, such income is subject to lower tax rates.
- There is no exchange control, as well as no indirect taxes.
- Nominee services;
- Hong Kong is not included in the OECD and FATF;
- Active support of the business by the state;
- Hong Kong is the leading financial and commercial centre of Southeast Asia. It ranks third in the world after New York and London.
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