Hong Kong is a world-class financial, trading and business centre. It is Asia’s world city and the gateway to China. Hong Kong is the ideal location for an Asian headquarters. Hong Kong’s excellent reputation and supervision make it the best alternative for corporate structuring because Hong Kong does not have an ‘offshore’ or ‘tax-paradise image’; it is universally deemed a clean jurisdiction.
Hong Kong became a Special Administrative Region (SAR) of the People’s Republic of China on July 1, 1997, after a century and a half of British administration. Under Hong Kong’s constitutional document, the Basic Law, the existing economic, legal and social system will be maintained for 50 years. The SAR enjoys a high degree of autonomy except in defence and foreign affairs.
Presently, Hong Kong has anti double tax treaties with Austria, Belgium, Brunei, Czech Republic, Finland, France, Germany, Hungary, Indonesia, Ireland, Japan, Liechtenstein, Luxembourg, Malta, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sri Lanka, Switzerland, Ukraine, United States, and Vietnam.
It also maintains the Closer Economic Partnership Arrangement (CEPA) with China which warrants the SAR with favorable custom and import fees, and preference of use by Chinese authorities and banks.
There is no minimum authorized capital; however the company often stipulates at HK$10,000.
|Government & Political Stability||Excellent||Hong Kong has a long history of peace and stability. Under the principle of ‘One Country, Two Systems’ the socialist system and policies shall not be practiced in the HKSAR.|
|Location||China||Hong Kong is located at the southeastern tip of China. It is ideally positioned at the centre of rapidly developing East Asia.|
|Type of Law||The Basic Law is based on the Common Law, supplemented by local legislation.|
|Language||Chinese & English||Chinese & English are the official languages.|
|Level of Confidentiality||High||Beneficial ownership is kept confidential.|
|Type of Company||Limited / Unlimited||Limited by shares / guarantee. Also available: unlimited companies.|
|Tax on Offshore Profits||No||Local profits tax: 17.5%.|
|Local Registered Office & Agent||Yes|
|Local Director Required||No|
|Corporate Directors Allowed||Yes|
|Minimum number of Shareholders||1|
|Corporate Shareholders Permitted||Yes|
|Company Secretary Required||Yes||Aspen Global Incorporations Ltd.provides local company secretary services as required under HK law.|
|Government Register of Directors||Yes||Mandatory, even if the company has no activity|
|Government Register of Shareholders||Yes|
|Annual Return Filing||Yes|
|Audited Accounts||Yes||Audit must be made by HK accounting firm.|
|Shelf Companies Available||Yes||Custom made companies are also available. Incorporation time is approx. 15 days from the time all the correct information of directors & shareholders is received.|
|Bank accounts, Visa debit cards, on-line banking and other banking services||Yes||Hong Kong companies are very well received worldwide.|
Aspen Global Incorporations Limited assists in offshore company formation & international business structures; virtual offices, company management, and secretarial services. Formation and administration of trusts & foundations. We can assist in the development of efficient international tax planning. We make banking referrals; provide accounting & audit services, and more in Hong Kong.