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Key Facts About Hong Kong

  • The main act that is regulating the way the companies are organized, managed or liquidated is the Companies Ordinance of Hong Kong.
  • The most common form of business in the British Virgin Islands is the company limited by shares and trading.
  • The offshore companies enjoy a special regime where many taxes are abolished: capital profits taxes, inheritance fees, estate fees, gift taxes, succession taxes or even income taxes (on interests, dividends, royalties, compensations).
  • No VAT, capital gain tax and withholding tax. Non-НК source tax exemption
  • Resident Hong Kong companies with local income has one of the lowest corporate tax rates in Asia, at 16.5%.
  • The real estate transactions are taxed with a stamp fee of 15%.
  • If a company does no business in Hong Kong, there is generally no requirement to file financial statements and no audit is required. It is only necessary to file a Declaration of "No business activity in HK.
  • Hong Kong company incorporation documents are bilingual, English and Chinese.
  • Hong Kong companies are advantageous because they are not perceived as "tax havens"; the legal system is based on British common law; the political environment is stable; finance and banking is excellent, and there are no exchange controls.
Common
Type of entity Private Limited
Type of law Common
Shelf company availability Yes
Our time to establish з new company 7 working days
Minimum government fees (excluding taxation) USS65 (until 31 July 2012)
Corporate Taxation 16.5% or No Tax if profits sourced outside Hong Kong
Share Capital or Equivalent
Standard currency HKS
Permitted currencies Any
Minimum paid up HKS1
Usual authorized capital HKS10.000
Directors or Managers
Minimum number one
Local required No
Publicly accessible records Yes
Members
Minimum number one
Publicly accessible records Yes
Company Secretary
Required Yes
Local or qualified Local, Hong Kong resident or corporation
Accounts
Requirement to ргерaге Yes
Audit requirements Yes
Requirement to file accounts Yes
Publicly 3ccessible accounts No
Other
Requirement to file annual return Yes