{"id":2118,"date":"2021-05-12T19:46:04","date_gmt":"2021-05-12T16:46:04","guid":{"rendered":"https:\/\/vigolex.net\/?post_type=service&p=2118"},"modified":"2023-07-21T09:49:11","modified_gmt":"2023-07-21T06:49:11","slug":"company-registration-in-hong-kong","status":"publish","type":"service","link":"https:\/\/vigolex.net\/en\/project-details\/company-registration-in-hong-kong\/","title":{"rendered":"\u0421ompany incorporation in Hong Kong"},"content":{"rendered":"\t\t
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Hong Kong<\/strong> is a special administrative region of the People\u2019s Republic of China, which has large autonomous rights, its own legislative and political systems, and is developing as a country of Western democracy.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Hong Kong is recognized as a global financial center and in 2020 ranked second after Singapore in terms of economic freedom<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Benefits of starting a business in Hong Kong<\/h2>

By choosing Hong Kong incorporation, you get the following benefits:<\/p>

  • A company in a prestigious jurisdiction without the status of an offshore zone, which is appreciated by international partners.<\/li>
  • Entering the Asian market and carrying out foreign economic activities.<\/li>
  • Avoidance of double taxation with many countries.<\/li>
  • Territorial principle of taxation \u2013 taxes are levied only on profits earned in Hong Kong. The corporate tax rate is 16.5%.<\/li>
  • 0% corporate tax on profits earned outside the country.<\/li>
  • 0% VAT, dividend tax, capital gains tax.<\/li>
  • Hong Kong incorporation provides an opportunity to accumulate tax-exempt assets on the company balance sheet.<\/li>
  • Opportunity to keep financial statements in accordance with the international GAAP standards.<\/li>
  • Absence of exchange controls.<\/li>
  • Confidentiality subject to the use of a nominee service.<\/li>
  • An account for a Hong Kong company can be opened both in Hong Kong and abroad;<\/li>
  • Foreign company registration in Hong Kong or online business incorporation in Hong Kong is a popular option.<\/li><\/ul>

    The most acceptable organizational and legal forms of conducting business in Hong Kong:<\/p>

    • Sole Proprietorship;<\/li>
    • Private Limited Company;<\/li>
    • Partnership;<\/li>
    • Foreign firm.<\/li><\/ul>

      The most popular form is Private Limited Company (PLC).<\/p>

      Features of IT company registration in Hong Kong<\/h2>

      Features of PLC in Hong Kong:<\/p>

      • Minimum authorized capital is HKD 1 (USD 0.13), but it does not need to be paid either, it is considered declared.<\/li>
      • A shareholder\/a director can be an individual or a legal entity, regardless of residency.<\/li>
      • The sole director must be an individual and cannot act as a secretary.<\/li>
      • Information about directors and a secretary is in the public register.<\/li>
      • Availability of a registered legal address in Hong Kong is obligatory.<\/li>
      • Presence of a secretary-resident, who can be an individual or a legal entity is obligatory.<\/li>
      • Obligatory maintenance and filling of financial statements, audit.<\/li>
      • Information about beneficiaries is confidential.<\/li>
      • You can register a company remotely.<\/li><\/ul>

        Stages of company registration in Hong Kong<\/h2>

        Hong Kong company registration includes the following stages:<\/p>

        • Choice, verification of the name uniqueness.<\/li>
        • Preparation of document.<\/li>
        • Company registration.<\/li>
        • Obtaining a certificate of state registration of the company and a certificate of registration of economic activities.<\/li><\/ul>

          What do you need for a Hong Kong company registration:<\/p>

          • Unique name in English and Chinese.<\/li>
          • Copies of passports of beneficiary, shareholders, director.<\/li>
          • If a shareholder\/a director is a legal entity, copies of constituent documents.<\/li>
          • Proof of permanent address (for example, a utility bill).<\/li><\/ul>

            How do I register a company name in Hong Kong?<\/h2>

            Company name in Hong Kong must be unique. It can be written in both English and Chinese, or even both. You can check the existing company names in Hong Kong free online company\u2019s database.\u00a0<\/p>

            You can use a database search to see if your chosen name is available. You can use the same service to find information about your competitors, suppliers or customers. Please note, that company name may play a great role for a business. For example, is the company name matches your website, it will inspire more confidence in your customers.<\/p>

            How do I check if a company is registered in Hong Kong?<\/h2>

            For this purpose, you should use the Hong Kong free online company\u2019s database specified in hereinabove. You will find necessary information on the active companies\u2019 registrations in Hong Kong there.<\/p>

            Specifics of taxation in Hong Kong<\/h3>

            The only tax for companies registered in Hong Kong is a 16.5%corporate income tax. The tax base is income derived from trade, professional activity or business in Hong Kong. Therefore, if a Hong Kong company receives a profit from overseas, no tax shall be paid.<\/p>

            Hong Kong company does not have to pay taxes other than income tax, including the following taxes:\u00a0<\/p>

            • VAT;<\/li>
            • capital gains tax;<\/li>
            • tax on income in the form of dividends or interest.<\/li><\/ul>

              The cost of registering a company in Hong Kong<\/h2>

              The total cost of registering a company may vary depending on the situation. It is mandatory to pay a fee for obtaining a registration certificate (for 1 year \u2013 about \u20ac300, for 3 years \u2013 about \u20ac700). Additionally, it may be necessary to pay for secretarial services, rent of a legal address, services for maintaining a register of key controlling persons, etc. You can contact our manager to determine which package of services you need specifically.<\/p>

              How we can help?<\/h2>

              VigoLex<\/strong> understands that working with the Asian market has its own features and is ready to advise and warn its clients about them. When working with Hong Kong, VigoLex<\/strong> specialists take into account the difference in time, traditions and approaches to entrepreneurship in order to facilitate its clients to open and run a business.<\/p>

              We will gladly consult you on the following matters: online business incorporation in Hong Kong, foreign company registration in Hong Kong, preparation of corporate documentation etc.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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