Cost of registration | The cost of the second year | Number of Directors | Corporate tax rates | Payment of Charter Capital | Financial statements |
---|---|---|---|---|---|
2290.00 USD | 2190.00 USD | 1 | 16.50% | 1.00 | Yes |
COMPANY REGISTRATION IN HONG KONGThe first and most important step in starting your international business is to properly construct your future company structure, that meets your needs and the legal requirements of local jurisdiction as well. It is important to take into consideration all the pros and cons of your proposed business vehicle and compare them to your business goals. Before making a choice, it is necessary to answer the following key questions.
Lawyers of Law&Trust International provide services of company formation in more than 140 countries across the globe, including Hong Kong in particular. By understanding your goals and anticipating your needs. Our professionals, who possess expert knowledge of local business, guarantee efficiency and professionalism at all stages of the Hong Kong company set up. Law&Trust International also provides full range of legal, corporate, government, and business intelligence related services. Advantages of business formation in Hong KongHong Kong is an autonomous territory located on the southern coast of China. Its proper name is Hong Kong Special Administrative Region of the People’s Republic of China. Hong Kong is a major financial and commercial centre, where business registration is possible for non-residents from any country. Hong Kong is not an offshore jurisdiction and formation of an offshore company in Hong Kong is technically impossible . However, it is possible to set up a non-taxable company in Hong Kong, which will have some characteristics of an offshore counterpart. Almost any local Hong Kong company can opt for a preferential tax regime that minimizes losses from taxation and because of that Hong Kong company may be similar to a traditional offshore company, e.g. the one that is set up in Seychelles. Although, such similarity does not mean equality. A Hong Kong company must submit an audit once a year, regardless of its tax status. Taxation of Hong Kong companies is unique in that it is based on the source of profit. As long as a Hong Kong company does not conduct any business in Hong Kong, and does not generate any income that is related to Hong Kong, such a company may apply for a Tax Exemption and will be taxable in Hong Kong at the rate of 0%. Because of this, a company registered in Hong Kong does not have the reputation of an offshore, so potential worldwide partners will more likely establish business relationships with such a company. Registration of a non-taxable company in Hong Kong, as it has been mentioned above, is possible only if the local tax authority grants a Tax Exemption to such a company. In order to obtain said Tax Exemption offshore companies in Hong Kong must keep complete accounting records and be audited annually. Furthermore, a company that had received the Tax Exemption, shall not conclude transactions with local companies and provide services or sell goods in Hong Kong. However, if conditions mentioned above are not fulfilled, the company will be obliged to pay taxes in full at the rate of 16,5%. Take note that for all Hong Kong companies, preparation of audited accounts is required . However, the accounts are not publicly accessible and can only be obtained by third parties either following shareholders’ decision or a court ruling. It is also important to know that a company with 100% foreign capital is not restricted from enjoying such instruments as loans, dividends, royalties, etc. Furthermore, there is no foreign currency control and non-residents are eligible for a unique procedure of credits or loans obtaining after establishing a company in Hong Kong. Hong Kong Company Formation RequirementsRegistration of a company in Hong Kong in the form of a Limited Liability Company (LLC) may be performed remotely and under the simplified system , since legislation of the jurisdiction does not welcome severe bureaucratic formalities:
Our Company Formation Services in Hong KongLaw&Trust lawyers provide complete support company formation process in Hong Kong. Our deep technical expertise earned through years of experience include:
HONG KONG COMPANY FORMATION FAQS
Registering a company in Hong Kong is done by filing an application to the Hong Kong Company Registry. Law and Trust International provide clearly defined details on how to register your company in Hong Kong.
The following are needed when planning to register a company in Hong Kong:
Registering a company in Hong Kong could take as long as a week.
The cost of registering a company for the first year is $2290 while from the second year, it costs $2190. WHY INCORPORATE WITH LAW&TRUST INTERNATIONAL?
READY FOR COMPANY FORMATION?If you are interested in setting up a Hong Kong company, lawyers of Law and Trust International can help. Write us an email or simply call now to take the next step in your business! |
Set of documents | |
|
|
Nominee director and shareholder | |
|
Square | 1 104.00 |
Population | 7 153 520.00 |
Unemployment | 12.60 |
Telephone code | 852 |
Place in the world in corruption | 12 |
location | Eastern Asia, bordering the South China Sea and China |
Climate | Subtropical monsoon; cool and humid in winter, hot and rainy from spring through summer, warm and sunny in fall; avg. maximum temperature (July) +35°; avg. minimum temperature (January) +15° |
Literacy rate | 93.50% |
National currency | Hong Kong dollar |
USD exchange rate | 7.76 |
GDP per capita | 10 |
Credit rating | AAA |
The judiciary | Court of Final Appeal, the High Court (Court of Appeal and the Court of First Instance), district courts, magistrates' courts and other specialized courts |
Executive authority | Head of government: Chief Executive. Government: Executive Council, composed of 15 official members and 14 informal |
Legislative authorities | unicameral legislature, the Council (60 seats) |
Opportunity to purchase ready-made companies | Yes |
Legal system | based on English Common Law |
Terms of purchasing ready-made company | ? |
The use of the Cyrillic alphabet in the name | No |
Local registered office | Yes |
Terms of registration | 5-7 working days |
Indication of BPA in the name | Limited |
Prohibited expressions in the name | Department, Government, Commission, Bureau, Federation, Council, Authority; Bank, Stock Exchange, Unified Exchange; Assurance, Insurance, Re-insurance; Certified Public Accountant (C.P.A.), Public Accountant (P.A.); Building Society, Chamber of Commerce, Cooperative, Kaifong, Mass Transit, Municipal, Savings, Tourist Association, Trust, Trustee, Underground Railway |
Local registered agent | No |
The information required to be kept at the registered office | A register of directors and secretaries; register of shareholders; Book reports of general meetings, meetings of directors or managers; register of debenture holders; copies of documents about the origin of collateral or mortgage obligations, subject to registration; register pledges, etc. |
Standard currency | Hong Kong Dollar |
The minimum amount of paid-in capital, nat. currency | 1 |
The minimum amount of the issued capital | 1 |
Bearer shares | No |
Terms of payment of the issued capital | Immediately after the release, or in the terms stipulated by the terms of issue and specified in the relevant decision on the issue |
Terms of capital payment | No restrictions |
Usual nominal value of shares | 1 Hong Kong Dollar |
Possibility to issue shares without par value | No |
VAT | No |
Basic corporate tax rate | 16.50% |
Capital gains tax | No |
Withholding tax | Dividends and interest - none; royalty - yes |
Currency control | No |
The tax on personal income | Progressive scale with rates ranging from 2% to 17%, the basic rate - 15% |
Corporate tax rates details | As from year of assessment 2018/19, profits tax levied at 8.25% rate (7.5% for unincorporated businesses) on the first HKD 2 million of assessable profits and at 16.5% rate (15% for unincorporated businesses) on remainder for companies carrying on business in Hong Kong on relevant income earned in or derived from Hong Kong. |
Government duty | no |
Stamp duty | Yes |
Other taxes | Capital tax, real estate tax, social security contributions. |
Minimum number of directors | 1 |
The requirement for residency directors | No |
Director of legal entities are allowed | Yes |
The data reveals to the local agent | Yes |
Data field to the public registry | Yes |
Meeting / regularity / place | No restrictions |
The requirement for the presence of the Secretary | Yes |
Requirement to the residense of the Secretary | Yes |
Requirements to qualification of the Secretary | No |
Legal entity as the Secretary | Yes |
Minimum number of shareholders | 1 |
Data is entered in the public register | Yes |
Shareholders residency requirement | No |
Information about the beneficiary is disclosed | No |
Information may be disclosed to the local agent | Yes |
Shareholders-legal entities are acceptable | Yes |
Meeting / regularity / place | Yes / annually / no restrictions |
The requirement for filing reports | Yes |
Open access to reports | No |
Statutory audit | Yes |
The requirement for filing Annual Return | Yes |
Open access to the Annual Return | Yes |
The requirement for reports | Yes |
Treaty on avoidance of double taxation (States which signed) | 4 |
Membership in the OECD | No |
Is it offshore according to Russian legislation | Yes |
TM Comprehensive Study | TM Registration Request | TM Registration Certificate | Total | ||||
---|---|---|---|---|---|---|---|
First Class | Additional Class | First Class | Additional Class | First Class | Additional Class | First Class | Additional Class |
90.00 | 72.00 | 495.00 | 261.90 | 0.00 | 0.00 | 585.00 USD | 333.90 USD |
«TRADEMARK» refers to «Wordmark» or «Logo» | |||||||
180.00 | 144.00 | 990.00 | 522.90 | 0.00 | 0.00 | 585.00 USD | 666.90 USD |
«TRADEMARK» refers to «Wordmark+ Logo» | |||||||
Prices include all professional and official fees. If the change of official duties or exchange rates prices may vary. In Hong Kong, in order to optimally protect a "Trade Mark ™ and Logo", 2 (two) separate applications are required. Therefore, the price is twice the cost of the application, because both the logo and TM are priced separately. Also, if you request a comprehensive test of Chinese characters, it will cost $ 125 per class. |