Special Administrative Region of the People's Republic of China, one of the leading financial centres of Asia and the world.
Hong Kong is located on Kowloon Peninsula, facing the South China Sea in the west, the south and the east, and also on more than 260 islands. In the north Hong Kong borders whit special economic Shenzhen zone in structure of the Chinese province Guangdong. Hong Kong can be divided into three parts: actually island Hong Kong, Kowloon and New Territories.
| Advantages | Hong Kong company follows common law which is the same as in the United Kingdom No currency control The corporate tax starting rate is zero for companies which develop business outside Hong Kong Contracts about avoidance of the double taxation are available with the following countries: Belgium, China, Thailand Accountancy statements- should be prepared only year end account, no monthly accountancy statements |
| Disadvantages | Year end account and tax return should be prepared Auditor's conclusion required if a company has income and tax department may ask for it even the company without any income |
| Corporative legislation | Ltd companies incorporated according to HK Companies Ordinance (Chapter 32) |
| Form of company | Private limited company (hereinafter-company) |
| Taxation | Corporate tax is paid by limited companies on their profits 17,5% Corporate tax is a tax on your company's taxable income or profits Corporate tax is paid on Hong Kong source income only |
| Name of company | The name has to end with the word Limited or Ltd The words Insurance, Bank, Chamber of Commerce, Co-operative, Credit Union, Group, Holding, Building Society, Royal, and a number of other words are subject to approval by competent authority |
| Equity capital of the company | No requirements in respect of the minimum Recommended - HKD 10 000, divided into 10 000 shares with par value HKD 1 |
| Shares/TD> | Only registered shares with par value |
| Shareholders | One legal entity or natural person |
| Directors | One legal entity or natural person, any nationality |
| On the territory of Hong Kong there has to be: -registered office -registered agent -secretary |
Required Not Required Required, legal entity or natural person, resident (HK) secretary required |
| Publicly accessible information | Names and addresses of secretary, directors and shareholders Registered office, memorandum and articles of association, creditors' claims |
| The financial year | This is the period covered by the accounts For a new company, it starts on the date of incorporation, regardless of when the company actually starts doing business For a company which has previously delivered accounts, it starts from the day after the period covered by the earlier accounts The financial year ends on the company's accounting reference date, we suggest it to be 31/12 or 31/03 A particular financial year can be less or more than 12 months, but it cannot be more than 18 months |
| Reports | Director personally responsible for the reporting and further deliver on time and to the Register of Companies. The company, if it has activities should provide Records Division Internal Taxes The fine for a private company for the delay of the record in the Register of Companies is calculated automatically in the range from HKD 1 500 to 5 000 |
| Audit | If the company does not require the release of the audit, the records should be audited. In this case, the audit report together with the records of the package of documents for the founders and Tax department The auditor must be a member of a recognized oversight body and have the right to act auditor of the company The auditors are appointed at the general meeting of the Records |
| Agreements on the avoidance of double taxation | Belgium, China, Thailand |