Hong Kong is located in an ideal location in the Asia pacific region. It is a free market economy with use of all the world’s major markets. It is reputed as among the most business friendly environment in the world and ranks very favorably as the least corrupt world economies. According to 2011 estimate its GDP was $49, 300.
It possesses a highly efficient transportation system, working legal system and state-of-the-art telecommunication infrastructure causes it to be the target of the majority of entrepreneurs. Using English in this particular City further elevates its attractiveness because the ideal location to start businesses. The City uses English common law which advocates for the rules of equity. It possesses a highly skilled workforce that is its crowning jewel. This asset draws investors to put pen to paper.
Hong Kong Company registration requires Company Incorporation Services to business. This contributes to the chances of getting your company successfully established. In order to attain the level of transparency required, you could consider hiring the services of experienced executives who are as much as date with procedures that can improve your business results.
You might enroll the expertise of a company which specializes in various elements of establishing companies in this particular Asian City. Setting up a company in Hong Kong is an efficient means of increasing both the City’s as well as your own online business offerings. The majority of companies in this jurisdiction are private limited companies.
Highlights of Private Limited Companies
• The principles of taxation adopted by this city are known as territorial source.
• Only profits whose source can be traced back to Hong Kong are taxable.
• Business activities from offshore sources are one hundred percent tax-free.
• At the rate of 16.5 percent tax on net profits, it really is considered a low tax regime.
• You will find not one other taxation systems like capital gain tax, VAT or business tax.
• Based on the statutory requirements, the shareholders or directors do not possess to become residents of Hong Kong.
• A Hong Kong company can facilitate entry to the Chinese market. It can also be used as an intermediary for trading purposes with China.
• A Hong Kong company can appoint an overseas individual as the director and shareholder.
• The absolute minimum a treadmill shareholder and one director is necessary. One individual can double up as director and shareholder.
• As being a minimum, the share capital requirement is HK$ten thousand. This amount doesn’t need to be paid up front.
• Company incorporation in this particular city demands a registered office inside the jurisdiction and a resident individual or even a local corporation to behave as secretary.
• The company’s registered name should end with the word limited or Ltd. This stands for limited liability.
Opening a bank account is really a straightforward procedure for Hong Kong Company registration. You may be asked to meet one on one with all the bank. However, due to the large network of special relationships in the banking sector, it ousyuz be unnecessary to do this. Opening the bank take into account your company may gain you usage of extra account features. Some Company Incorporation In HK features include debit/credit cards, internet banking, low transaction fees, multi-currency accounts. Any company that fails to try to get Hong Kong company registration will likely be missing out on lucrative work at home opportunities.