The benefits of creating an offshore company in Hong Kong
Hong Kong is not one of the most prosperous places in the world by chance: Owning a company in Hong Kong and managing it in this important financial center has a lot of advantages in terms of management flexibility, banking facilities, savings of operation, taxes, and duties. The result of this ultra-liberalism is a feeling of freedom that is extremely profitable to the will to undertake.
The main advantages of a company in Hong Kong summary in 16 points:
1. English legal system still in force in Hong Kong.
2. Two official languages: Chinese and English.
3. No taxes or fees for a honk kong offshore company.
4. Very low tax for companies based on Hong Kong (onshore): 17.5% on profits.
5. The identity of the shareholders or owners of the company may be hidden by the use of nominee (Nominee = Ready Name).
6. The social and political environment is very stable in Hong Kong.
7. Big activity and great freedom in the financial field: Transfer of funds without any restriction from and to all the countries of the world.
8. Hong Kong belongs to China while remaining an “autonomous” (SAR) region.
9. One of the largest financial and transportation centers in the world. One of the largest port of Asia.
10. Very large banking and financial presence: All financial institutions and banks in the world are present in Hong Kong.
11. Closing a company in Hong Kong is fast, easy and inexpensive.
12. One person suffices for the opening of a company in Hong Kong.
13. No minimum capital required to form the company.
14. No VAT or business or employer tax.
15. The registration of the company can be done remotely and requires a few days.
16. Save Legal Fees and Asset Transfer Taxes: You do not sell the asset but the shares of the company holding the asset.
Hong Kong Economy: An Ultra-Liberal Economy
Hong Kong has an ultra-liberal economy open to foreign trade and where the government intervenes little. It is, therefore, one of the territories where the market economy is the freest.
Hong Kong is a credible and renowned financial center
Hong Kong is not considered a tax haven but is instead a world-renowned financial center. Companies registered in Hong Kong, which is an administrative region of China, therefore enjoy a very good image having nothing to do with other offshore places such as Seychelles, the Virgin Islands or Delaware. Having your company registered in Hong Kong is therefore for your suppliers and customers a serious guarantee.
No tax or tax *
Offshore companies, ie operating outside Hong Kong *, are exempt from taxes. For companies operating in Hong Kong (sale in Hong Kong, offices and staff on site, stock on site, etc …) only a 17.5% profit tax is. There is no VAT or professional charges or taxes: Suppliers in Hong Kong always charge duty-free products. There is also no exchange control.
- VAT: 0%
- Taxes on profits: 0%
- Employer taxes: 0%
- Taxes on dividends: 0%
- Inheritance tax for shares held by non-residents: NO
A constitution and company registration in Hong Kong
The creation of your company in Hong Kong is very simple and few documents are needed:
Companies registered in Hong Kong are LIMITED, limited liability companies. The liability of shareholders and directors is therefore limited.
- Only one person is needed to start a business in Hong Kong. Only one shareholder and the director are needed; They can be the same person.
- The registration of the company takes about ten days.
- No capital is to be contributed.
- All nationalities can create a company in Hong Kong
Simple company management
- There is no need to live in Hong Kong: The management of your company can be done from anywhere in the world.
- Different commercial activities are possible in the same company structure in Hong Kong.
- No obligation to have offices in Hong Kong.
- A company in Hong Kong has the right to trade with the world.
- Ability to charge your customers in the currency you want: Euro for example.
A successful banking system – Hong Kong bank account
- One of the most secure bank secrecy in the world.
- All major banks in the world are present in Hong Kong.
- No exchange controls are carried out.
- There is no cap on receipt of funds.
- Current multi-currency bank account allowing you to receive and keep the currency you want on the account.
Privacy respected – Hong Kong Accounting
Confidentiality is guaranteed if you use nominee which are the name ready equivalents. The use of nominees is legal and can be used for directors and shareholders. Only the bank and we know the true identity of the owner of the company, hence the importance of choosing an incorporator not living in Europe to avoid possible pressure from tax services. All this coupled with perfect banking secrecy make Hong Kong a safe and confidential place.
Simplified Accounting ** Hong Kong Company Fee
- First tax declaration 18 months after the incorporation of the company.
- No proof of your income or expenses if your activities are outside Hong Kong *
* A corporation must answer “no” to all of these questions to be declared non-taxable:
– Do you have an office in Hong Kong outside the address where your company is registered?
– Do you have staff in Hong Kong?
– Do you have customers in Hong Kong?
– Do you have suppliers in Hong Kong?
– Do any of your products pass through Hong Kong