Hong Kong
Hong Kong
An international financial centre, very well served by local banks and branches of international banks. Hong Kong maintains a very attractive system of taxation including low rates of business tax, no value added tax, no capital gains tax and no withholding tax.
The basic law of Hong Kong guarantees free trade as well as low taxes for a Hong Kong company. One of the most popular jurisdictions for setting up an offshore company owing to its low tax regime, absence of foreign exchange controls, political and economic stability, ease of offshore company setup, etc.
The Hong Kong corporate tax it is considered to be one of the lowest in Asia and also internationally. The 16.5% Tax Rate (for companies performing local business) and in combination with the low personal income tax it helps to attract capital investment.
Joined the Organisation for Economic Cooperation and Development (OECD) white list after complying with OECD guidelines. It is certain that Hong Kong considered to be a very reputable and respected jurisdiction that will add advantages to any international business.
Key Corporate Features
General |
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| Type of entity: | Private Limited |
| Type of law: | Common |
| Shelf Companies Available: | Yes |
| Time to establish a new company: | 10 days |
| Minimum government fees (excluding taxation): | US$450 |
| Corporate taxation: | 16.5% |
| Double taxation treaty access: | Other Countries – for shipping and aviation. |
Share capital or equivalent |
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| Standard currency: | HK$ |
| Permitted currencies: | Any |
| Minimum paid up: | HK$1 |
| Usually authorized capital: | HK$1,000 |
Directors or Managers |
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| Minimum number: | One Physical |
| Local required: | No |
| Publicly accessible records: | Yes |
| Location of meetings: | Anywhere |
Members |
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| Minimum number: | One |
| Publicly accessible records: | Yes |
| Location of meetings: | Anywhere |
Company Secretary |
|
| Required: | Yes |
| Local or qualified: | Local |
Accounts |
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| Requirement to prepare: | Yes |
| Audit requirements: | Yes |
| Requirement to file accounts: | Yes |
| Publicly accessible accounts: | No |
Other |
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| Requirement to file annual return: | Yes |
| Change in domicile permitted: | No |