A company in Hong Kong or an offshore company in Hong Kong is an excellent solution for international business, as a company that is not included in any of the so-called FATF blacklists and complies with all G20 recommendations.
Hong Kong Offshore – General Information
Hong Kong is the leading international financial center of the Asia-Pacific region, one of the leading financial centers of the world and the most famous Asian offshore zone (so-called Hong Kong offshore).
Hong Kong is a special administrative region of the People’s Republic of China. Located on the Kowloon Peninsula, from the west, south and east washed by the South China Sea.
Since 1842 – a colony of Great Britain. In 1997, sovereignty was transferred to China. According to the law, Hong Kong was granted wide autonomy until at least 2047. As part of the “One Country – Two Systems” course, throughout this period, the PRC takes on issues of defense and foreign policy, while Hong Kong retains control over legislation, police, the monetary system, duties, and immigration policies, and also maintains its own representation in international organizations.
The economy of Hong Kong is based on a free market, low taxation and non-interference of the state. Hong Kong is one of the world’s leading financial centers, with headquarters of almost all the world’s largest corporations. Calculated at purchasing power parity, GDP per capita exceeds even the four leading Western European countries: (Great Britain, France, Germany, and Italy), as well as Japan.
The autonomous status of the territory allows it to fulfill the role of an offshore zone and a gate for investments and resources heading to the continent. Due to the very rapid economic growth, the region entered the top four “Asian tigers”, along with Singapore, South Korea, and Taiwan.
The population is about 7 million people. (2007)
About 95% of the inhabitants are ethnic Chinese.
The official languages are English.
The monetary unit is the Hong Kong dollar (HK $). 7.80 HK $ are approximately equal to 1USD
The country signed the 1961 Hague Convention.
Hong Kong Offshore – Key Facts
Speaking of offshore companies in Hong Kong, they primarily imply the financial stability of the offshore zone, the absence of taxation when doing business outside Hong Kong and the need to submit financial statements.
Type of company used for international business and investment:
Private Limited Company – a private limited company
Offshore in Hong Kong is allowed to engage in any activity not prohibited by law (banking, trust, insurance, and reinsurance activities require licensing).
Requirements for the company
For an offshore company in Hong Kong, it is necessary to have a registered office and a secretary.
The name of the company in Hong Kong must end in Limited.
The authorized capital of the company
There are no requirements for the amount and mandatory payment of the authorized capital of a Hong Kong company.
The proposed share capital of 10,000 Hong Kong dollars (HK $), divided into 10,000 shares with a par value of 1 HK $.
A Hong Kong registered company cannot issue bearer shares.
Shares without par value
A company registered in Hong Kong cannot issue shares without a nominal declaration.
Shareholders and Directors
The minimum number of Shareholders is one (natural or legal person).
The minimum number of Directors is one (natural or legal person).
Nationality and residence do not matter. Director and Shareholder can be the same person.
For your maximum security for a company in Hong Kong, we offer the services of nominee shareholders and directors. Nominals will formally appear in all major registration documents of an offshore company in Hong Kong, a general power of attorney will be issued to your representative (or you personally) to manage the company, in addition, a trust declaration between the nominal shareholder and the beneficiary will be issued, which confirms that the nominee shareholder owns shares of the Hong Kong company in your favor and without your consent has no right to take any action with them.
In a Hong Kong company, a secretary must be appointed (natural or legal person, a resident of Hong Kong).
Meetings of Shareholders / Directors
Meetings of shareholders and directors of the company in Hong Kong can be held anywhere in the world.
Offshore in Hong Kong – taxation and reporting
16.5% on profits earned in Hong Kong, 0% on profits earned outside.
The need for accounting
The need for an annual report
The need to provide an audit report