Voted as the world’s freest economy
Hong Kong is the best jurisdiction for your company. It is known to be the best for all-round global business activities and for doing business in Asia Pacific. It is a former British Dependent Territory and has been under the Special Administrative Regions of China, since 1997. Hong Kong stands third in the Financial Secrecy Index 2013.
Hong Kong accounts for over 4 per cent of the global market for offshore financial services, making it a larger player compared to other secrecy jurisdictions.
It is located in eastern Asia, on the southeast coast of the People’s Republic of China, facing the South China Sea.
The most commonly used is the Limited Company type. It is easy to form, maintain & manage. The advantage of tax benefits and concessions are offered to incorporated businesses, including the closer economic partnership arrangement, which is a free trade agreement with Mainland China. Bookkeeping is required, which is handled by the qualified accountants and accounting firms.
Limited liability partnership is also available as of 2012, but yet to gain on.
Limited companies are private companies limited by shares. It requires a shareholder and a director. The shareholder can be the director of the company. A non-Hong Kong resident can be a director. A company secretary is required for a company to exist and the sole director cannot be the secretary at the same time. The eligibility of a secretary is that, they be a natural and a resident of Hong Kong.
The registered office of the company must be situated in Hong Kong.
The company’s registry is responsible for processing the applications for company formation. Companies that have offices outside of Hong Kong and a branch in Hong Kong need to be registered under “non-Hong Kong” companies.
A company incorporation & registration of your business will be processed online usually in one hour. Hard copy document submission will consume up to 4 working days.
The Corporate Tax Rate in Hong Kong stands at 16.50%. It has generous allowances and deductions, which reduces your taxable amount.
Income tax is on a sliding scale from 2% to 17%, although total tax exemption can be made if the income determines of not being sourced from within Hong Kong. This varies from case to case.
The legal system is based on the British Common Law system and has a fully independent judiciary. It is considered a popular jurisdiction to structure contracts and settle disputes. It offers rulings that are enforceable in a number of jurisdictions.
The government reform plans, as well as the internationalisation of the yuan, are going to make Hong Kong more attractive to many hedge funds.
IMD World Competitiveness yearbook has ranked Hong Kong in the 6 th position due to liberal immigration policies. About 160+ countries and territories are provided visa-free visits to Hong Kong for up to 6 months. Short-term visits can be allowed under visitor visa or entry permit.
Visa schemes may be of the following forms:
Employment Visa: foreign individuals who are to be employed by a Hong Kong company and are relocating to Hong Kong.
Investment Visa: for foreign entrepreneurs who wish to start their own business and relocate to Hong Kong.
Capital Investment Entrant Visa: for foreign investors who wish to gain entry for residence in Hong Kong by making a capital investment of about USD 850,000 in certain permissible assets, without the need to establish or join in a business.
Quality Migrant Admission Visa: a quota based entrant scheme for foreign persons who wish to enter Hong Kong and explore employment opportunities or establishing a business.Compare Jurisdictions Talk to a consultant