Registration of Company in Macau

Macau is an autonomous territory within the People's Republic of China. It is located in about 60 kilometers from Hong Kong and has its own monetary, legal, judicial, customs and legislative systems. Macau region consists of the peninsula of the same name and the islands of Taipa and Coloane (in the South China Sea).

Macau is a former Portuguese colony, which is reflected in the predominance of the Portuguese language, which is used interchangeably with the Chinese. In Macau, you can also see a lot of examples of architecture of the times of Portuguese colonization. In general, a profound combination of Chinese and Portuguese cultures can be noted.

Given that the bulk of the residents of Macau is the Chinese people, there are also many representatives of Portugal.

About half million people inhabit Macau, and a great contribution to the increase in the number of population is made by immigrants. Macau ranks second in the world due to life expectancy of the residents.

Among the main sources of income for the economy, there are tobacco production, fisheries, textile exports, and production of fireworks. Gambling business is also developed in Macau, and it is developed so that the region is often referred to as “the capital of gambling”.

The national currency is the Macanese pataca

Recently, registration of offshore business in Macau becomes more and more relevant for entrepreneurs from around the world. It is facilitated by favorable tax policy, developed financial infrastructure, and strong Macau's reputation in the world. Offshore company in Macau is perfect example of successful tax planning. And this fact is attracting more and more investors to the region.

The classical type of offshore company in Macau is limited liability company by quotas (LDA).

Legislative framework

Activities of offshore companies in Macau are based on civil law (incorporated the basic principles of Portuguese, German, Chinese and English common law systems).

Registration of offshore business in Macau. Main provisions

• One director and two shareholders are sufficient for business registration in Macau.
• Both natural persons and legal entities can be directors and shareholders. Legal entities are obliged to appoint representative in such case.
• There are no residency requirements for shareholders.
• It is necessary to have secretary, if company consists of more than 10 persons. At the same time the residency of the secretary does not matter, but legal entity can not be the secretary.
• Minimum amount of declared and subject to 100% payment capital  equals to MOP 25,000.
• Commercial name shall coincide with that under which the entrepreneur will conduct activities. The name can be submitted in Portuguese and/or Chinese. It is prohibited to use the already existing names. Permission to use a particular name is issued by the State Commercial Registry. Once the name is approved, the company has 60 working days to undergo the entire registration procedure.
• Issue of bearer shares is not permitted.

All offshore companies in Macau fall under one of the two categories:

1. company with the right to provide services to third party;
2. organization that provides subsidiary services to the parent company.

Registration of offshore business in Macao and obtaining license provide for submission of:

- business plan specifying the amount of investments, scope of activities, conditions of employment of local workforce, area of the office, etc.

- After obtaining license it is required to provide confirmation that all items specified in the business plan are being put into effect. Offshore company in Macau is obliged to be physically located in the territory of jurisdiction, and it is a very important.

Bookkeeping in Macau

Offshore company in Macau should keep accounting records. All companies of Macau shall annually submit Annual Return and financial statements in the Financial Services Department. Company is subject to audit if its average annual income for the last 3 years exceeds MOP 500,000 and its capital - MOP 100000.

It is now simple and easy to register or buy company in Macau. Contact us and registration of offshore company in Macau will be quick and successful procedure. Registration of offshore companies and various types of companies is one of the main fields of our activity.