Hong Kong is located on south-east of China and consists of a large number of islands and a part of the Chinese mainland. The principal areas are the Island of Hong Kong, Kowloon and the New Territories. It is the leading south -east Asian centre for both finance and commerce and ranks as the third largest financial centre after New York and London.
From the 1st July 1997 under the Sino-British Agreement of December 1984, Hong Kong became a special administrative region of the People’s Republic of China. It still enjoys a high degree of autonomy as a special administrative region (HKSAR) except in defence and foreign affairs. The main languages spoken are Cantonese, Mandarin. English is also widely spoken. Hong Kong is governed by a chief executive and Provisional Legislature. The Legal system of Hong Kong is English Common Law supplemented by locally acted Ordinances. The local currency is the HK Dollar which is pegged to the US Dollar. There are no exchange controls.
- TYPE OF COMPANY: Private Limited
- COMPANY LAW: The Companies Ordinance (Cap.32)
- SUFFIX TO DENOTE LIMITED LIABILITY: Limited
- DIRECTORS: One of any nationality or residency – we can provide (Corporate directors are permitted)
- SECRETARY: Local secretary required – we can provide
- SHAREHOLDERS: One of any residency or nationality, corporate shareholders are permitted – we can provide
- CLASSES OF SHARE: Registered
- CAPITAL REQUIREMENTS: Minimum one share of HK$1
- OWNERSHIP: 100% foreign ownership allowed
- TIME TO INCORPORATE: 1 – 5 days
- REGISTERED OFFICE: Required in Hong Kong – we can provide
- ANNUAL RETURN: Yes
- ACCOUNTS: Yes (Audited)
- DISCLOSURE: No
- TAXATION: Nil on profits generated outside Hong Kong
- GOVERNMENT LICENCE FEE: HK$450
- DOUBLE TAXATION TREATIES: 22
- LANGUAGE OF DOCUMENTATION: Mandarin with certified English translation
If you would like further information on setting up a company in Hong Kong, the formation of a Hong Kong company, other Hong Kong corporate entities or require professional advice relating to taxation or the structuring and requirements of a Hong Kong company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Hong Kong.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.