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Startup your business in Hong Kong

Guest post by: Raymond Wong

Article Overview: Hong Kong Special Administrative Region, is a largely self-governing territory of the People's Republic of China, facing Guangdong to the north and the South China Sea to the east, west and south. Hong Kong is a global metropolitan and international financial centre, and has a highly developed capitalist economy. Low tax, an excellent regulatory framework, the rule of law upheld by an independent judiciary and also strong anti-corruption enforcement are all important factors in drawing international business to Hong Kong.

Startup your business in Hong Kong

About Hong Kong

Hong Kong Special Administrative Region, is a largely self-governing territory of the People's Republic of China, facing Guangdong to the north and the South China Sea to the east, west and south. Hong Kong is a global metropolitan and international financial centre, and has a highly developed capitalist economy. Low tax, an excellent regulatory framework, the rule of law upheld by an independent judiciary and also strong anti-corruption enforcement are all important factors in drawing international business to Hong Kong.

You can incorporate Hong Kong Private Company Limited by Shares or Limited by Guarantee. Partner and Limited Partnership is also available. In addition, a foreign company incorporated outside Hong Kong can be registered under Part XI of the Companies Ordinance as a branch.

The official languages are English and Chinese, with English being used in the commercial and political context and Cantonese Chinese used widely in industry and domestic trade.

Hong Kong Company Formation Detail

Background Information

Political stability: Stable

Legal system: Basic Law

Company type: Limited Company

Oversea profit: Tax-free

Chinese Company name registration: Possible

Company Set Up

No. of shareholder: At least 1

No. of shareholder: At least 1

Corporate director: Possible

Company Secretary: Necessary

Standard Share Capital: HK$ 10,000 (Additional 0.1% of actual share capital if excess)

Hong Kong Regulation

Local business address for company registration: Necessary

Local Company Secretary: Necessary

Local Director: Not necessary

Local meeting: Not necessary

Director List storage in Company Registration Office: Necessary

Shareholder List storage in Company Registration Office: Necessary

Annual Requirement

Annual Report: Necessary

Annual Auditing: Necessary

Advantages and aims of formation

Gateway to enter China

No minimum capital requirement

Profit tax is as low as 16.5%

No exchange control, free fund transfer

Only money generated in Hong Kong counts, other revenues are tax-free

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Article Tags: capitalist economy, chinese company, companies ordinance, company name registration, company registration office, company secretary, corporate director, hong kong company formation, hong kong special administrative region, independent judiciary, limited partnership, local director, official languages, political context, political stability, profit tax, regulatory framework, republic of china, share capital, south china sea



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